Foundations of Government and Economics Why do we take AGES? ▫What do both have in common? Video: The Tarnished Dreams Government and economics deal with.

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Foundations of Government and EconomicsbullWhy do we take AGES

What do both have in commonbullVideo The Tarnished DreamsbullGovernment and economics deal with

people and their decision makingbullTo start the coursehellip

On your blank piece of paperhellip

bullDivide your paper into four sections (fold)

bullUse the prompt on the board to defineidentifydraw given what you know now Do not write on the back because we will use both sides

Define it in your own words

L

i

s

t

s

i

m

il

a

r

w

o

r

d

s

c

o

n

c

ep

t

s

fr

o

m

c

u

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Government

Warm-Up 1 - 9414

bullIn your journal please write down a definition of the term GOVERNMENT in your own words

Introductory thoughts hellip

bullhttpcongressindianaedue-learning-module-the-impact-congress

2 How about to your life

Relationship between economics amp government

Make a List

CaricaturesWhat are they

a drawing that makes someone look funny or foolish because some part of the persons appearance is exaggerated

Use of symbols or other items that represent an idea associated with the person or topic

CARICATURES

HOW WOULD YOU DRAWAMERICA AS A CARICATURE

- Man or woman- Young or old- Fit or fat- Attractive or ugly- What symbols would come associated with it A

truck A tank A hybrid

On your paper draw America as you envision it as a caricature Must have color and at least two symbolsitemsaccessories

No stick figures

YOUR CARICATURE MUST

- Have color

- Be of America and how you view our country

- Include symbolsitemsaccessories that represent how you view our country

- Have a reasonable explanation for how it looks

PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

Warm Up -2a- 9514The New York Times and CBS News Pollhellip

How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

How can you link this poll to why it is important to study our government and economic system

Warm up 2bndash In Journal-

Economist and Politician Assumptions

bull When studying humans people in politics and economics think abouthellip

bull Self worth individuals have worth and value their lives

bull Self interest people pursue their own interests to improve their lives

bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

bull Equilibrium Balance of competing forces

Individualism

bullWhat words do you associate with individualism

bullOur definitionideology or social outlook that emphasizes

the moral worth of the individual

Quote activity

bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

your sheetbull You may then have 10 minutes to share

your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

Quote breakdown

bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

way it does not existrdquo

bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

societyrdquo ldquoAn individual has not started living until he can rise above the narrow

confines of his individualistic concerns to the broader concerns of all humanityrdquo

bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

Warm Up 3- Current Event 9814

bullTake a minute to write about a current event you have recently learned about within the past week

Purpose of Government

We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

According to the Preamble what are the 6 purposes of our government

Purpose of Government

form a more perfect Union establish Justice the law must be

reasonable fair and impartialinsure domestic Tranquility order is

essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

guarantee civil rights and liberties

3 Theorists bullThree classical theorists believed in the

need for government for different reasonsEach reason accepted the assumption that

men are invested in their own self-interestbullHobbes Locke Rousseau

ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

governmentbullDecide which idea is a belief about the natural

state of manbullBased on these ideas decide which quote

belongs to which theoristbullExplain the quote in your own words and how

it relates to each personrsquos beliefs about government and the natural state of man

Origins of American Government A customized government

bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

Developed notion of social contract between rulers and their subjects

Believed people were too selfish to govern themselves

ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

Origins of American Government A customized government

bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

Ideas helped lay foundations for democratic government

Believed people formed governments to protect their rights and were innately good

ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

Origins of American Government A customized government

bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

Believed people were naturally good but corrupted and enslaved by society

Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

ldquoForce does not create right obedience is due to only legitimate powersrdquo

With which theory do you agree more Why

John Locke Thomas Hobbes

The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

purpose of government Government needs to attain power from the

people in order to perform any functions

CLOSURE How much power is too much How much

liberty should be given up hellip bullThis represented a debated trade offhellip

Clash of order and freedom= Original Dilemma

Warm Up 5 Hobbes and Locke

Hobbes

Locke

Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

Group 4Mike KingChris ConteKarlyRyanKatieDJ

Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

Group 2JakeShawnKatieDrewWyattKatAshlyn

Group 3JennaCeatonJeffLivSteveGarciaTom

Group 4SuzetteJulianneAlekDanScottSpenserNick R

Balloon Game Objective

To be the team with the most filled balloons taped into the square on the board Rules

1 No running 2 No touching classmates hellip that does

not mean you canrsquot touch their balloons hellip

3 No removal of balloons once they are taped to the board

You will have less than 5 minutes to come up with a strategy in your group

You will have 10 minutes to get as many filled balloons on the square as possible

End

>

Balloon Game Debriefing What type of behavior did you see during the

game

List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

Why do you think you needed more ldquorulesrdquo during

this game

How does this relate to this class How does it relate to the theorists

Political Theories

Force Theory small group forced

all to submit to person andor grouprsquos rule

Evolutionary Theory developed naturally out of the

evolution of the family

Divine Right held that God created the state

and God had given those of royal birth

ldquodivine rightrdquo to rule

Social Contract argues that state arose out of a

voluntary act of free people State exists only

to serve the will of the people

Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

power to a government to protect them and serve their interests

bullFree to remove that power at any timebullGovernment can only create laws when it

has the consent of the governedbullExamples

Natural Rightsbull Natural rights are ldquoinalienablerdquo and

cannot be taken away by any one (government)

bull Government exists to secure our natural rights and is based on the consent of those who are governed

bull Idea of consent derived from social contract theory

Democracybull A system of government in which in

theory the people rule either directly or indirectly

bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

Concepts of Governmentbull Ordered governmentmdashneed for order

bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

bull Representative governmentmdashidea that government should serve the will of the people (democracy)

Warm up 6 ndash 91114

Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

Warm Up 7

bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

And after the ConstitutionFederalism vs Anti-Federalism

bullFederalists believed Favored ratification believed Constitution was

strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

bullAnti-Federalists believed Opposed ratification believed Constitution

was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

Activity

bullEach of you will get a card it either has a termperson or a definition on it

bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

secret with your partner

Picture Activity

bullGallery Walk

Constitutional Convention

bullMet in Philadelphia in 1787

bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

bullThese men were collectively known as ldquoThe Framersrdquo

Purpose of the ConventionbullInitial Purpose was to revise the Articles of

Confederation bullDelegates quickly realized they were

meeting to create a new government (with 3 branches)

VA Plan v NJ Plan

Several plans were proposed to correct the weaknesses of the Articles

bullVirginia PlanbullNew Jersey Plan

Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

Virginia Plan ldquoLarge State Planrdquo

bullStrong central govrsquotbullL Bicameral Congress

Representation based on population

bullE ldquoPresidentrdquo Chosen by Congress

bullJ 1+ supreme courts with lower courtsChosen by Congress

New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

Each state would have = representationExpand power to tax amp regulate trade

bullE Two-person presidencyChosen by Congress able to be removed

bullJ Single Supreme CourtChosen by Executive

Your Task

Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

them to choose your planUse catchy phrasesslogans and be sure to

include the historical features of your plan (VA or NJ)

At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

Closure

bullWhat do you think (or know) happens to these two plans

States agreebull States agree to (ratify) the Constitution

only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

Quote

bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

bullWhat words stick to you in this quote Why

Structure of Constitutionbull Provides basic

framework for US government

bull Outlines basic principles structure and processes

bull Three partsmdashPreambleArticlesAmendments

Structure of Constitution bull Preamble

Introduction to the Constitution Lists ideas that the government should stand for

and states purposes We the people of the United States in Order

to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

6 Purpose of Government bull Form a More Perfect Union

bull Establish Justice bull Insure Domestic Tranquility

bull Provide for the Common Defense

bull Promote the General Welfare

bull Secure the Blessings of Liberty

For each phrase consider the followinghellip

1 Why do you think the Framerrsquos put this phrase in the US Constitution

2 Is this phrase important today

Structure of Constitution bullArticles

Main body of the Constitution Lay out basic structure of the national

governmentFurther broken down into sections and clauses

Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

Clause oaths of office

Article VII Ratification

Structure of Constitution

bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

Activity

Activity bull STEP 1 bull Fill in the graphic

organizer in your guided notes packet You have 8 minutes on your own to do this

bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

Principle Explanation

Popular Sovereignty Idea that people are the source of all power held by the government

Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

Federalism Divides the power between the central government and the States

Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

Question 1

bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

Popular Sovereignty

Question 2

bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

Limited Government

Question 3

bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

Limited Government

Question 4

bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

SEPARATION OF POWERS

Question 5

bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

Checks and Balances

Question 6

bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

CHECKS AND BALANCES

Question 7

bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

JUDICIAL REVIEW

Question 8

bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

Federalism

GroupsPopular

SovereigntySeparation of

PowersFederalism

bull bull bull

Judicial Review

Limited Government

Checks and Balances

bull bull bull

Separation of Powers

bull Legislative branchmdashmakes the laws

bull Executive branchmdashenforces the laws

bull Judicial branchmdashinterprets the law

Video

bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

Checks and Balances

Checks and balances

bullIn what was do the branches check on one another

bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

Basic Principles

bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

Self- Worth

bull A recognition of the fundamental worth of every person

bull The democratic process reflects the collective set of individuals who make up society

Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

Compromise

bull A matter of compromise to determine the position most acceptable to the largest number of people

bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

bullWhy is compromise important

Individual Freedombull Right of the

individual to be free as far as the freedom of all will allow

bull Democracy does not and cannot insist on the absolute freedom of the individual person

Write your ownhellipbull Now that you know what the foundations of

government arehellip Create your own Constitution (Or social contract)

What do you think is important to include What do you think could be taken out

Start with ldquoWe the peoplehelliprdquo and create the ideal contract

Preamble (brief introduction) Articles (what should it include based on what we

learned so far Include and agree on 10 points) Amendments (what do you think it should take to

change it)

bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

paper

TED Talk

bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

Closure

bullExplain two principles of the constitution and how are they connected

What is Economics

bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

Important Parts of Economicsndash

CHOICESSCARCITY

Economics ishellip

bullDependent upon assumptions

bullDependent upon simplification of reality

Back to our assumptionshellip

bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

bullAll sellers seek to maximize profits

Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

For the videohellip

bullWrite down 3 things you did not knowbullWrite down 3 things you did know

bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

Post Videohellip

bullDefine the main idea of the video in 4-5 words

Advertisement

bullKnowing some of the basics about what economics is and why we study ithellip

bullCreate an advertisement for an economics course BE SURE TO INCLUDE

3 images that represent different economic ideas

2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

1 slogan that represents why economics is an important course to take

Political Cartoon Analysis

Factors of Production bull LAND

Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

soil minerals water and plants

bull LABOR Also called Human Resources Includes physical and mental activities that go

into producing goodsservices

bull CAPITAL Includes tools machines buildings and

technologies

bull ENTREPRENEUR Risk taker who is responsible for combining

land labor and capital to produce goods and services

TASK

bullTask Why are entrepreneurs the driving force in our economy

bullAnswer in 2-3 sentences

The price ofhellip

bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

Economic efficiency is achieved when all available resources are being used

All societies must answer three basic questions to satisfy the needs and wants of their populations

1 What to produce

bullShould it be military or civilian goods

bullFood or clothingbullMedicine or movies

2 How to produce it

bullAutomated or manual labor

bullExpensive or cheap materials

bullDomestic or overseas labor

3 For whom to produce it

bullThe wealthy or the needybullThe sick or the healthy

Application Activity

bull In groups of 2-3 create your own country (name it please)

bull With your countryrsquos name explain the Population geography and general population

information (iehellipbull Choose 5 items for your country to produce and

answer the three societal questions for eachALSO explain why this material would help your

economy thrivereach economic efficiencybull Create an advertisement for your country

withhellip Images representing what you produce and a

slogan for why your country is awesome

EQs

bullHow does scarcity impact decision making

Objectives amp Essential QuestionsbullObjectives

I will be able to create and reflect on a budget given new economics content

I will be able to understand scarcity and our mixed economy

bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

Group Activity Budget Activity

bullTeacher will break you into groups In your groups you will be creating a budget for a single family

bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

How do we satisfy our economic wants

bull We buy goods or services

bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

bull Service ndash work done by someone else for which someone is willing to pay

How do we make goods amp services

bull Use Factors of Production - The productive resources that go into producing goods and services

Production Equation

LAND + LABOR + CAPITAL = GOODSERVICE

inputs output

Economic Interdependence

bullWhat does lsquointerdependencersquo mean

bullIs our world becoming economic interdependent or independent

bullEconomic Interdependence the actions of one part of the

country (world) has an impact on what happens elsewhere

Wants amp Needs gt

Resources

Because of scarcity we

have to make choices

How do we make a choice What do we give up

What does this remind you of from our government unit

Making Choices to Deal With Scarcity

bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

Utility ndash the satisfaction or benefit a person receives from consuming a good or service

Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

decision over another

ExampleshellipbullSome choices are easy to makehellip

HmmhellipShould I have pizza or a hoagie for lunch today

bullOther decisions are agonizinghellipShould I get out of bed and go to

school today or should I sleep in

Task Reflecting on Personal Trade-offshellip

In the end what helped you decide amongst your choices

Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

tradeoffs for that decision

Be prepared to share

Opportunity Cost

bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

bullYou do a cost-benefit analysis to figure out which decision is most beneficial

Opportunity Cost ndash The best thing we give up to get what

we want

What else influences your choices

bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

FinallyhellipWhy it Matters

Understanding the opportunity coststradeoffs of different choices in life makes you a

better decision-maker

Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

You always have to give something uphelliprdquo

ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

decisions

Visualizing the Relationshiphellip

Limited Resources amp Unlimited Wants

Scarcity

Trade-offs (choices)

Opportunity Costs

ObjectivesEssential Questions

bullObjectivebullI will be able to understand (and teach)

the three different types of economies

bullEssential Question How do the different types of economies work

How Can We Measure What We Gain and Lose When

Making Choices

Answer With a Production Possibilities Frontier

Production Possibilities Frontier

bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

PPF Assumptions

bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

Production Possibilities Curve

CD

E

OU

TP

UT

OF

CO

NS

UM

ER

GO

OD

S

(un

its

per

yea

r)

OUTPUT OF MILITARY GOODS (units per year)

A

BO

XF

G

Limited resources necessitate choices about WHAT to produce

The Choices Nations Make

bullA nation must choose what to do with its scarce resources during war or periods of military buildup

bullProduce military goods or consumer goods

Economic Growth

2000 production possibilities

1900 production possibilities

OU

TP

UT

OF

CO

NS

UM

ER

GO

OD

S(u

nits

per

yea

r)

OUTPUT OF MILITARY GOODS (units per year)

Production possibilities increases with more resources and technology

The Classic Guns and Butter example

Guns

Butter

10000 20000 30000 40000 50000

1000009500085000

70000

5000040000

BA

C

D

E

F

At point A all resources are used for butter

Moving from point A to point B requires shifting resources out of butter and into guns

At point F all resources are used for Guns

Productivitybull A PPF can help us see how efficient our

choices are

bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

Locations on a PPF

bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

Food

Computer

4

3

2

1

1 2 3 4

OC between 1 and 2 computers = 1 Food

UnitOC between 3 and 4 computers = 1 Food

Unit

Constantly giving up the same quantity of food to get

additional computers

STRAIGHT-LINE PPFs Constant OC

BOWED-OUT PPFs VaryingIncreasing OC

Principle of Increasing Costs

As a society produces more of one product the OC of producing

that product increases because we are using more resources that are poorly suited to produce it

Economic Systems

An economic system is the way a society coordinates the production and consumption of goods amp services

How a society answers the three basic economic questions determines which type of economic system they are

Three Types of Economic Systems Command Traditional Market

Jigsaw activity

bullYou will be placed in groups of 3 and assigned a type of economy

bullYou will have 7 minutes to read and come up with 4 key components

bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

Economic amp Social Goals of an Economic System

bull Economic Freedom

bull Economic Efficiency

bull Economic Equity

bull Economic Security

Economic Stability

Economic Growth

Review of Economic Systems

bullA traditional economy relies on custom and tradition to dictate production and consumption

bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

bullIn a market economy individual producers and consumers coordinate economic activity

What are the most important goals of each economic system

bullTraditionalSecurity and

StabilitybullCommand

Equity and Security

bullMARKETEfficiency and

Freedom

Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

at the expense of another (TRADEOFFS)

Which economic system does the US use

The American Economic System

bullWe have a mixed market economy

COMMAND MARKET

The US mixed economybull In a mixed economyhellip

Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

Think backhellip

bullWhat does this remind you of from the beginning of the unit

US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

2 Limited government

3 Equal opportunity

4 Competition

5 Profit motive

6 Property Rights

7 Binding Contracts

Understanding how all parts fit together

Circular Flow of Economic Activity Represents a market economy

2 main ldquomarketsrdquoProduct Market Factor Market

where goods and services where the 4 factors ofare boughtsold production are boughtsold

Shows interdependence between

businesses and individuals

Marriage Vowsbull CONGRATULATIONS The government and the economy

are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

bull Using what you have learned this unit and using the textbook

bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

Do you remember

bullWrite the following question downbullWhy does the United States have a

democracy and mixed economy

  • Foundations of Government and Economics
  • On your blank piece of paperhellip
  • Slide 3
  • Warm-Up 1 - 9414
  • Introductory thoughts hellip
  • Slide 6
  • 2 How about to your life
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
  • Warm up 2bndash In Journal-
  • Economist and Politician Assumptions
  • Individualism
  • Quote activity
  • Quote breakdown
  • Warm Up 3- Current Event 9814
  • Purpose of Government
  • Slide 20
  • 3 Theorists
  • Activity
  • Origins of American Government A customized government
  • Origins of American Government A customized government (2)
  • Origins of American Government A customized government (3)
  • With which theory do you agree more Why
  • The ldquoOriginal Dilemmardquo
  • Warm Up 5 Hobbes and Locke
  • Groups Block 2
  • Groups Block 4
  • Balloon Game
  • You will have 10 minutes to get as many filled balloons on the
  • Balloon Game Debriefing
  • Political Theories
  • Social Contract
  • Natural Rights
  • Democracy
  • Concepts of Government
  • Warm up 6 ndash 91114
  • Warm Up 7
  • And after the Constitution
  • Activity (2)
  • Picture Activity
  • Constitutional Convention
  • Purpose of the Convention
  • VA Plan v NJ Plan
  • Virginia Plan ldquoLarge State Planrdquo
  • New Jersey Plan ldquoSmall State Planrdquo
  • Your Task
  • Closure
  • States agree
  • Quote
  • Structure of Constitution
  • Structure of Constitution
  • 6 Purpose of Government
  • Structure of Constitution (2)
  • Structure of Constitution (3)
  • Principles of Constitution
  • Activity
  • Slide 60
  • Check for Understanding Six Principles
  • Question 1
  • Question 2
  • Question 3
  • Question 4
  • Question 5
  • Question 6
  • Question 7
  • Question 8
  • Groups
  • Separation of Powers
  • Video
  • Checks and Balances
  • Slide 74
  • Checks and balances
  • Basic Principles
  • Self- Worth
  • Equality
  • Compromise
  • Individual Freedom
  • Write your ownhellip
  • Slide 82
  • TED Talk
  • Closure
  • What is Economics
  • Economics ishellip
  • Back to our assumptionshellip
  • Scarcity refers to the limited number of resources (factors of
  • For the videohellip
  • Slide 90
  • Post Videohellip
  • Advertisement
  • Political Cartoon Analysis
  • Factors of Production
  • TASK
  • The price ofhellip
  • Economic efficiency is achieved when all available resources ar
  • 1 What to produce
  • 2 How to produce it
  • 3 For whom to produce it
  • Application Activity
  • EQs
  • Objectives amp Essential Questions
  • Group Activity Budget Activity
  • Slide 105
  • How do we satisfy our economic wants
  • How do we make goods amp services
  • Economic Interdependence
  • Slide 109
  • Making Choices to Deal With Scarcity
  • Exampleshellip
  • Task Reflecting on Personal Trade-offshellip
  • Opportunity Cost
  • What else influences your choices
  • Finallyhellip Why it Matters
  • Visualizing the Relationshiphellip
  • ObjectivesEssential Questions
  • How Can We Measure What We Gain and Lose When Making Choices
  • Production Possibilities Frontier
  • PPF Assumptions
  • Slide 121
  • Production Possibilities Curve
  • The Choices Nations Make
  • Economic Growth
  • The Classic Guns and Butter example
  • Productivity
  • Locations on a PPF
  • Slide 128
  • BOWED-OUT PPFs VaryingIncreasing OC
  • Economic Systems
  • Jigsaw activity
  • Slide 132
  • Economic amp Social Goals of an Economic System
  • Review of Economic Systems
  • Slide 135
  • What are the most important goals of each economic system
  • Which economic system does the US use
  • The American Economic System
  • The US mixed economy
  • Slide 140
  • Think backhellip
  • US Economic System Characteristics
  • Slide 143
  • Understanding how all parts fit together
  • Marriage Vows
  • Do you remember
  • Slide 147

    On your blank piece of paperhellip

    bullDivide your paper into four sections (fold)

    bullUse the prompt on the board to defineidentifydraw given what you know now Do not write on the back because we will use both sides

    Define it in your own words

    L

    i

    s

    t

    s

    i

    m

    il

    a

    r

    w

    o

    r

    d

    s

    c

    o

    n

    c

    ep

    t

    s

    fr

    o

    m

    c

    u

    rr

    e

    n

    t

    n

    e

    w

    s

    Government

    Warm-Up 1 - 9414

    bullIn your journal please write down a definition of the term GOVERNMENT in your own words

    Introductory thoughts hellip

    bullhttpcongressindianaedue-learning-module-the-impact-congress

    2 How about to your life

    Relationship between economics amp government

    Make a List

    CaricaturesWhat are they

    a drawing that makes someone look funny or foolish because some part of the persons appearance is exaggerated

    Use of symbols or other items that represent an idea associated with the person or topic

    CARICATURES

    HOW WOULD YOU DRAWAMERICA AS A CARICATURE

    - Man or woman- Young or old- Fit or fat- Attractive or ugly- What symbols would come associated with it A

    truck A tank A hybrid

    On your paper draw America as you envision it as a caricature Must have color and at least two symbolsitemsaccessories

    No stick figures

    YOUR CARICATURE MUST

    - Have color

    - Be of America and how you view our country

    - Include symbolsitemsaccessories that represent how you view our country

    - Have a reasonable explanation for how it looks

    PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

    Warm Up -2a- 9514The New York Times and CBS News Pollhellip

    How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

    alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

    How can you link this poll to why it is important to study our government and economic system

    Warm up 2bndash In Journal-

    Economist and Politician Assumptions

    bull When studying humans people in politics and economics think abouthellip

    bull Self worth individuals have worth and value their lives

    bull Self interest people pursue their own interests to improve their lives

    bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

    bull Equilibrium Balance of competing forces

    Individualism

    bullWhat words do you associate with individualism

    bullOur definitionideology or social outlook that emphasizes

    the moral worth of the individual

    Quote activity

    bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

    sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

    your sheetbull You may then have 10 minutes to share

    your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

    Quote breakdown

    bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

    obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

    way it does not existrdquo

    bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

    societyrdquo ldquoAn individual has not started living until he can rise above the narrow

    confines of his individualistic concerns to the broader concerns of all humanityrdquo

    bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

    that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

    ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

    ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

    Warm Up 3- Current Event 9814

    bullTake a minute to write about a current event you have recently learned about within the past week

    Purpose of Government

    We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

    According to the Preamble what are the 6 purposes of our government

    Purpose of Government

    form a more perfect Union establish Justice the law must be

    reasonable fair and impartialinsure domestic Tranquility order is

    essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

    guarantee civil rights and liberties

    3 Theorists bullThree classical theorists believed in the

    need for government for different reasonsEach reason accepted the assumption that

    men are invested in their own self-interestbullHobbes Locke Rousseau

    ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

    governmentbullDecide which idea is a belief about the natural

    state of manbullBased on these ideas decide which quote

    belongs to which theoristbullExplain the quote in your own words and how

    it relates to each personrsquos beliefs about government and the natural state of man

    Origins of American Government A customized government

    bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

    Developed notion of social contract between rulers and their subjects

    Believed people were too selfish to govern themselves

    ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

    Origins of American Government A customized government

    bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

    Ideas helped lay foundations for democratic government

    Believed people formed governments to protect their rights and were innately good

    ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

    Origins of American Government A customized government

    bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

    Believed people were naturally good but corrupted and enslaved by society

    Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

    ldquoForce does not create right obedience is due to only legitimate powersrdquo

    With which theory do you agree more Why

    John Locke Thomas Hobbes

    The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

    purpose of government Government needs to attain power from the

    people in order to perform any functions

    CLOSURE How much power is too much How much

    liberty should be given up hellip bullThis represented a debated trade offhellip

    Clash of order and freedom= Original Dilemma

    Warm Up 5 Hobbes and Locke

    Hobbes

    Locke

    Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

    Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

    Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

    Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

    Group 4Mike KingChris ConteKarlyRyanKatieDJ

    Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

    Group 2JakeShawnKatieDrewWyattKatAshlyn

    Group 3JennaCeatonJeffLivSteveGarciaTom

    Group 4SuzetteJulianneAlekDanScottSpenserNick R

    Balloon Game Objective

    To be the team with the most filled balloons taped into the square on the board Rules

    1 No running 2 No touching classmates hellip that does

    not mean you canrsquot touch their balloons hellip

    3 No removal of balloons once they are taped to the board

    You will have less than 5 minutes to come up with a strategy in your group

    You will have 10 minutes to get as many filled balloons on the square as possible

    End

    >

    Balloon Game Debriefing What type of behavior did you see during the

    game

    List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

    Why do you think you needed more ldquorulesrdquo during

    this game

    How does this relate to this class How does it relate to the theorists

    Political Theories

    Force Theory small group forced

    all to submit to person andor grouprsquos rule

    Evolutionary Theory developed naturally out of the

    evolution of the family

    Divine Right held that God created the state

    and God had given those of royal birth

    ldquodivine rightrdquo to rule

    Social Contract argues that state arose out of a

    voluntary act of free people State exists only

    to serve the will of the people

    Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

    power to a government to protect them and serve their interests

    bullFree to remove that power at any timebullGovernment can only create laws when it

    has the consent of the governedbullExamples

    Natural Rightsbull Natural rights are ldquoinalienablerdquo and

    cannot be taken away by any one (government)

    bull Government exists to secure our natural rights and is based on the consent of those who are governed

    bull Idea of consent derived from social contract theory

    Democracybull A system of government in which in

    theory the people rule either directly or indirectly

    bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

    Concepts of Governmentbull Ordered governmentmdashneed for order

    bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

    bull Representative governmentmdashidea that government should serve the will of the people (democracy)

    Warm up 6 ndash 91114

    Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

    are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

    Warm Up 7

    bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

    And after the ConstitutionFederalism vs Anti-Federalism

    bullFederalists believed Favored ratification believed Constitution was

    strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

    bullAnti-Federalists believed Opposed ratification believed Constitution

    was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

    Activity

    bullEach of you will get a card it either has a termperson or a definition on it

    bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

    bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

    secret with your partner

    Picture Activity

    bullGallery Walk

    Constitutional Convention

    bullMet in Philadelphia in 1787

    bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

    bullThese men were collectively known as ldquoThe Framersrdquo

    Purpose of the ConventionbullInitial Purpose was to revise the Articles of

    Confederation bullDelegates quickly realized they were

    meeting to create a new government (with 3 branches)

    VA Plan v NJ Plan

    Several plans were proposed to correct the weaknesses of the Articles

    bullVirginia PlanbullNew Jersey Plan

    Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

    Virginia Plan ldquoLarge State Planrdquo

    bullStrong central govrsquotbullL Bicameral Congress

    Representation based on population

    bullE ldquoPresidentrdquo Chosen by Congress

    bullJ 1+ supreme courts with lower courtsChosen by Congress

    New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

    Each state would have = representationExpand power to tax amp regulate trade

    bullE Two-person presidencyChosen by Congress able to be removed

    bullJ Single Supreme CourtChosen by Executive

    Your Task

    Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

    them to choose your planUse catchy phrasesslogans and be sure to

    include the historical features of your plan (VA or NJ)

    At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

    Closure

    bullWhat do you think (or know) happens to these two plans

    States agreebull States agree to (ratify) the Constitution

    only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

    bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

    Quote

    bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

    bullWhat words stick to you in this quote Why

    Structure of Constitutionbull Provides basic

    framework for US government

    bull Outlines basic principles structure and processes

    bull Three partsmdashPreambleArticlesAmendments

    Structure of Constitution bull Preamble

    Introduction to the Constitution Lists ideas that the government should stand for

    and states purposes We the people of the United States in Order

    to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

    6 Purpose of Government bull Form a More Perfect Union

    bull Establish Justice bull Insure Domestic Tranquility

    bull Provide for the Common Defense

    bull Promote the General Welfare

    bull Secure the Blessings of Liberty

    For each phrase consider the followinghellip

    1 Why do you think the Framerrsquos put this phrase in the US Constitution

    2 Is this phrase important today

    Structure of Constitution bullArticles

    Main body of the Constitution Lay out basic structure of the national

    governmentFurther broken down into sections and clauses

    Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

    Clause oaths of office

    Article VII Ratification

    Structure of Constitution

    bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

    Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

    bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

    Activity

    Activity bull STEP 1 bull Fill in the graphic

    organizer in your guided notes packet You have 8 minutes on your own to do this

    bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

    Principle Explanation

    Popular Sovereignty Idea that people are the source of all power held by the government

    Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

    Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

    Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

    Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

    Federalism Divides the power between the central government and the States

    Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

    Question 1

    bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

    Popular Sovereignty

    Question 2

    bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

    Limited Government

    Question 3

    bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

    Limited Government

    Question 4

    bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

    SEPARATION OF POWERS

    Question 5

    bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

    Checks and Balances

    Question 6

    bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

    CHECKS AND BALANCES

    Question 7

    bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

    JUDICIAL REVIEW

    Question 8

    bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

    Federalism

    GroupsPopular

    SovereigntySeparation of

    PowersFederalism

    bull bull bull

    Judicial Review

    Limited Government

    Checks and Balances

    bull bull bull

    Separation of Powers

    bull Legislative branchmdashmakes the laws

    bull Executive branchmdashenforces the laws

    bull Judicial branchmdashinterprets the law

    Video

    bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

    Checks and Balances

    Checks and balances

    bullIn what was do the branches check on one another

    bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

    Basic Principles

    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

    Self- Worth

    bull A recognition of the fundamental worth of every person

    bull The democratic process reflects the collective set of individuals who make up society

    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

    Compromise

    bull A matter of compromise to determine the position most acceptable to the largest number of people

    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

    bullWhy is compromise important

    Individual Freedombull Right of the

    individual to be free as far as the freedom of all will allow

    bull Democracy does not and cannot insist on the absolute freedom of the individual person

    Write your ownhellipbull Now that you know what the foundations of

    government arehellip Create your own Constitution (Or social contract)

    What do you think is important to include What do you think could be taken out

    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

    Preamble (brief introduction) Articles (what should it include based on what we

    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

    change it)

    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

    paper

    TED Talk

    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

    Closure

    bullExplain two principles of the constitution and how are they connected

    What is Economics

    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

    Important Parts of Economicsndash

    CHOICESSCARCITY

    Economics ishellip

    bullDependent upon assumptions

    bullDependent upon simplification of reality

    Back to our assumptionshellip

    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

    bullAll sellers seek to maximize profits

    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

    For the videohellip

    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

    Post Videohellip

    bullDefine the main idea of the video in 4-5 words

    Advertisement

    bullKnowing some of the basics about what economics is and why we study ithellip

    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

    3 images that represent different economic ideas

    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

    1 slogan that represents why economics is an important course to take

    Political Cartoon Analysis

    Factors of Production bull LAND

    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

    soil minerals water and plants

    bull LABOR Also called Human Resources Includes physical and mental activities that go

    into producing goodsservices

    bull CAPITAL Includes tools machines buildings and

    technologies

    bull ENTREPRENEUR Risk taker who is responsible for combining

    land labor and capital to produce goods and services

    TASK

    bullTask Why are entrepreneurs the driving force in our economy

    bullAnswer in 2-3 sentences

    The price ofhellip

    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

    Economic efficiency is achieved when all available resources are being used

    All societies must answer three basic questions to satisfy the needs and wants of their populations

    1 What to produce

    bullShould it be military or civilian goods

    bullFood or clothingbullMedicine or movies

    2 How to produce it

    bullAutomated or manual labor

    bullExpensive or cheap materials

    bullDomestic or overseas labor

    3 For whom to produce it

    bullThe wealthy or the needybullThe sick or the healthy

    Application Activity

    bull In groups of 2-3 create your own country (name it please)

    bull With your countryrsquos name explain the Population geography and general population

    information (iehellipbull Choose 5 items for your country to produce and

    answer the three societal questions for eachALSO explain why this material would help your

    economy thrivereach economic efficiencybull Create an advertisement for your country

    withhellip Images representing what you produce and a

    slogan for why your country is awesome

    EQs

    bullHow does scarcity impact decision making

    Objectives amp Essential QuestionsbullObjectives

    I will be able to create and reflect on a budget given new economics content

    I will be able to understand scarcity and our mixed economy

    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

    Group Activity Budget Activity

    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

    How do we satisfy our economic wants

    bull We buy goods or services

    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

    bull Service ndash work done by someone else for which someone is willing to pay

    How do we make goods amp services

    bull Use Factors of Production - The productive resources that go into producing goods and services

    Production Equation

    LAND + LABOR + CAPITAL = GOODSERVICE

    inputs output

    Economic Interdependence

    bullWhat does lsquointerdependencersquo mean

    bullIs our world becoming economic interdependent or independent

    bullEconomic Interdependence the actions of one part of the

    country (world) has an impact on what happens elsewhere

    Wants amp Needs gt

    Resources

    Because of scarcity we

    have to make choices

    How do we make a choice What do we give up

    What does this remind you of from our government unit

    Making Choices to Deal With Scarcity

    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

    decision over another

    ExampleshellipbullSome choices are easy to makehellip

    HmmhellipShould I have pizza or a hoagie for lunch today

    bullOther decisions are agonizinghellipShould I get out of bed and go to

    school today or should I sleep in

    Task Reflecting on Personal Trade-offshellip

    In the end what helped you decide amongst your choices

    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

    tradeoffs for that decision

    Be prepared to share

    Opportunity Cost

    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

    Opportunity Cost ndash The best thing we give up to get what

    we want

    What else influences your choices

    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

    FinallyhellipWhy it Matters

    Understanding the opportunity coststradeoffs of different choices in life makes you a

    better decision-maker

    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

    You always have to give something uphelliprdquo

    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

    decisions

    Visualizing the Relationshiphellip

    Limited Resources amp Unlimited Wants

    Scarcity

    Trade-offs (choices)

    Opportunity Costs

    ObjectivesEssential Questions

    bullObjectivebullI will be able to understand (and teach)

    the three different types of economies

    bullEssential Question How do the different types of economies work

    How Can We Measure What We Gain and Lose When

    Making Choices

    Answer With a Production Possibilities Frontier

    Production Possibilities Frontier

    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

    PPF Assumptions

    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

    Production Possibilities Curve

    CD

    E

    OU

    TP

    UT

    OF

    CO

    NS

    UM

    ER

    GO

    OD

    S

    (un

    its

    per

    yea

    r)

    OUTPUT OF MILITARY GOODS (units per year)

    A

    BO

    XF

    G

    Limited resources necessitate choices about WHAT to produce

    The Choices Nations Make

    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

    bullProduce military goods or consumer goods

    Economic Growth

    2000 production possibilities

    1900 production possibilities

    OU

    TP

    UT

    OF

    CO

    NS

    UM

    ER

    GO

    OD

    S(u

    nits

    per

    yea

    r)

    OUTPUT OF MILITARY GOODS (units per year)

    Production possibilities increases with more resources and technology

    The Classic Guns and Butter example

    Guns

    Butter

    10000 20000 30000 40000 50000

    1000009500085000

    70000

    5000040000

    BA

    C

    D

    E

    F

    At point A all resources are used for butter

    Moving from point A to point B requires shifting resources out of butter and into guns

    At point F all resources are used for Guns

    Productivitybull A PPF can help us see how efficient our

    choices are

    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

    Locations on a PPF

    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

    Food

    Computer

    4

    3

    2

    1

    1 2 3 4

    OC between 1 and 2 computers = 1 Food

    UnitOC between 3 and 4 computers = 1 Food

    Unit

    Constantly giving up the same quantity of food to get

    additional computers

    STRAIGHT-LINE PPFs Constant OC

    BOWED-OUT PPFs VaryingIncreasing OC

    Principle of Increasing Costs

    As a society produces more of one product the OC of producing

    that product increases because we are using more resources that are poorly suited to produce it

    Economic Systems

    An economic system is the way a society coordinates the production and consumption of goods amp services

    How a society answers the three basic economic questions determines which type of economic system they are

    Three Types of Economic Systems Command Traditional Market

    Jigsaw activity

    bullYou will be placed in groups of 3 and assigned a type of economy

    bullYou will have 7 minutes to read and come up with 4 key components

    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

    Economic amp Social Goals of an Economic System

    bull Economic Freedom

    bull Economic Efficiency

    bull Economic Equity

    bull Economic Security

    Economic Stability

    Economic Growth

    Review of Economic Systems

    bullA traditional economy relies on custom and tradition to dictate production and consumption

    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

    bullIn a market economy individual producers and consumers coordinate economic activity

    What are the most important goals of each economic system

    bullTraditionalSecurity and

    StabilitybullCommand

    Equity and Security

    bullMARKETEfficiency and

    Freedom

    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

    at the expense of another (TRADEOFFS)

    Which economic system does the US use

    The American Economic System

    bullWe have a mixed market economy

    COMMAND MARKET

    The US mixed economybull In a mixed economyhellip

    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

    Think backhellip

    bullWhat does this remind you of from the beginning of the unit

    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

    2 Limited government

    3 Equal opportunity

    4 Competition

    5 Profit motive

    6 Property Rights

    7 Binding Contracts

    Understanding how all parts fit together

    Circular Flow of Economic Activity Represents a market economy

    2 main ldquomarketsrdquoProduct Market Factor Market

    where goods and services where the 4 factors ofare boughtsold production are boughtsold

    Shows interdependence between

    businesses and individuals

    Marriage Vowsbull CONGRATULATIONS The government and the economy

    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

    bull Using what you have learned this unit and using the textbook

    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

    Do you remember

    bullWrite the following question downbullWhy does the United States have a

    democracy and mixed economy

    • Foundations of Government and Economics
    • On your blank piece of paperhellip
    • Slide 3
    • Warm-Up 1 - 9414
    • Introductory thoughts hellip
    • Slide 6
    • 2 How about to your life
    • Slide 8
    • Slide 9
    • Slide 10
    • Slide 11
    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
    • Warm up 2bndash In Journal-
    • Economist and Politician Assumptions
    • Individualism
    • Quote activity
    • Quote breakdown
    • Warm Up 3- Current Event 9814
    • Purpose of Government
    • Slide 20
    • 3 Theorists
    • Activity
    • Origins of American Government A customized government
    • Origins of American Government A customized government (2)
    • Origins of American Government A customized government (3)
    • With which theory do you agree more Why
    • The ldquoOriginal Dilemmardquo
    • Warm Up 5 Hobbes and Locke
    • Groups Block 2
    • Groups Block 4
    • Balloon Game
    • You will have 10 minutes to get as many filled balloons on the
    • Balloon Game Debriefing
    • Political Theories
    • Social Contract
    • Natural Rights
    • Democracy
    • Concepts of Government
    • Warm up 6 ndash 91114
    • Warm Up 7
    • And after the Constitution
    • Activity (2)
    • Picture Activity
    • Constitutional Convention
    • Purpose of the Convention
    • VA Plan v NJ Plan
    • Virginia Plan ldquoLarge State Planrdquo
    • New Jersey Plan ldquoSmall State Planrdquo
    • Your Task
    • Closure
    • States agree
    • Quote
    • Structure of Constitution
    • Structure of Constitution
    • 6 Purpose of Government
    • Structure of Constitution (2)
    • Structure of Constitution (3)
    • Principles of Constitution
    • Activity
    • Slide 60
    • Check for Understanding Six Principles
    • Question 1
    • Question 2
    • Question 3
    • Question 4
    • Question 5
    • Question 6
    • Question 7
    • Question 8
    • Groups
    • Separation of Powers
    • Video
    • Checks and Balances
    • Slide 74
    • Checks and balances
    • Basic Principles
    • Self- Worth
    • Equality
    • Compromise
    • Individual Freedom
    • Write your ownhellip
    • Slide 82
    • TED Talk
    • Closure
    • What is Economics
    • Economics ishellip
    • Back to our assumptionshellip
    • Scarcity refers to the limited number of resources (factors of
    • For the videohellip
    • Slide 90
    • Post Videohellip
    • Advertisement
    • Political Cartoon Analysis
    • Factors of Production
    • TASK
    • The price ofhellip
    • Economic efficiency is achieved when all available resources ar
    • 1 What to produce
    • 2 How to produce it
    • 3 For whom to produce it
    • Application Activity
    • EQs
    • Objectives amp Essential Questions
    • Group Activity Budget Activity
    • Slide 105
    • How do we satisfy our economic wants
    • How do we make goods amp services
    • Economic Interdependence
    • Slide 109
    • Making Choices to Deal With Scarcity
    • Exampleshellip
    • Task Reflecting on Personal Trade-offshellip
    • Opportunity Cost
    • What else influences your choices
    • Finallyhellip Why it Matters
    • Visualizing the Relationshiphellip
    • ObjectivesEssential Questions
    • How Can We Measure What We Gain and Lose When Making Choices
    • Production Possibilities Frontier
    • PPF Assumptions
    • Slide 121
    • Production Possibilities Curve
    • The Choices Nations Make
    • Economic Growth
    • The Classic Guns and Butter example
    • Productivity
    • Locations on a PPF
    • Slide 128
    • BOWED-OUT PPFs VaryingIncreasing OC
    • Economic Systems
    • Jigsaw activity
    • Slide 132
    • Economic amp Social Goals of an Economic System
    • Review of Economic Systems
    • Slide 135
    • What are the most important goals of each economic system
    • Which economic system does the US use
    • The American Economic System
    • The US mixed economy
    • Slide 140
    • Think backhellip
    • US Economic System Characteristics
    • Slide 143
    • Understanding how all parts fit together
    • Marriage Vows
    • Do you remember
    • Slide 147

      Define it in your own words

      L

      i

      s

      t

      s

      i

      m

      il

      a

      r

      w

      o

      r

      d

      s

      c

      o

      n

      c

      ep

      t

      s

      fr

      o

      m

      c

      u

      rr

      e

      n

      t

      n

      e

      w

      s

      Government

      Warm-Up 1 - 9414

      bullIn your journal please write down a definition of the term GOVERNMENT in your own words

      Introductory thoughts hellip

      bullhttpcongressindianaedue-learning-module-the-impact-congress

      2 How about to your life

      Relationship between economics amp government

      Make a List

      CaricaturesWhat are they

      a drawing that makes someone look funny or foolish because some part of the persons appearance is exaggerated

      Use of symbols or other items that represent an idea associated with the person or topic

      CARICATURES

      HOW WOULD YOU DRAWAMERICA AS A CARICATURE

      - Man or woman- Young or old- Fit or fat- Attractive or ugly- What symbols would come associated with it A

      truck A tank A hybrid

      On your paper draw America as you envision it as a caricature Must have color and at least two symbolsitemsaccessories

      No stick figures

      YOUR CARICATURE MUST

      - Have color

      - Be of America and how you view our country

      - Include symbolsitemsaccessories that represent how you view our country

      - Have a reasonable explanation for how it looks

      PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

      Warm Up -2a- 9514The New York Times and CBS News Pollhellip

      How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

      alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

      How can you link this poll to why it is important to study our government and economic system

      Warm up 2bndash In Journal-

      Economist and Politician Assumptions

      bull When studying humans people in politics and economics think abouthellip

      bull Self worth individuals have worth and value their lives

      bull Self interest people pursue their own interests to improve their lives

      bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

      bull Equilibrium Balance of competing forces

      Individualism

      bullWhat words do you associate with individualism

      bullOur definitionideology or social outlook that emphasizes

      the moral worth of the individual

      Quote activity

      bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

      sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

      your sheetbull You may then have 10 minutes to share

      your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

      Quote breakdown

      bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

      obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

      way it does not existrdquo

      bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

      societyrdquo ldquoAn individual has not started living until he can rise above the narrow

      confines of his individualistic concerns to the broader concerns of all humanityrdquo

      bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

      that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

      ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

      ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

      Warm Up 3- Current Event 9814

      bullTake a minute to write about a current event you have recently learned about within the past week

      Purpose of Government

      We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

      According to the Preamble what are the 6 purposes of our government

      Purpose of Government

      form a more perfect Union establish Justice the law must be

      reasonable fair and impartialinsure domestic Tranquility order is

      essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

      guarantee civil rights and liberties

      3 Theorists bullThree classical theorists believed in the

      need for government for different reasonsEach reason accepted the assumption that

      men are invested in their own self-interestbullHobbes Locke Rousseau

      ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

      governmentbullDecide which idea is a belief about the natural

      state of manbullBased on these ideas decide which quote

      belongs to which theoristbullExplain the quote in your own words and how

      it relates to each personrsquos beliefs about government and the natural state of man

      Origins of American Government A customized government

      bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

      Developed notion of social contract between rulers and their subjects

      Believed people were too selfish to govern themselves

      ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

      Origins of American Government A customized government

      bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

      Ideas helped lay foundations for democratic government

      Believed people formed governments to protect their rights and were innately good

      ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

      Origins of American Government A customized government

      bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

      Believed people were naturally good but corrupted and enslaved by society

      Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

      ldquoForce does not create right obedience is due to only legitimate powersrdquo

      With which theory do you agree more Why

      John Locke Thomas Hobbes

      The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

      purpose of government Government needs to attain power from the

      people in order to perform any functions

      CLOSURE How much power is too much How much

      liberty should be given up hellip bullThis represented a debated trade offhellip

      Clash of order and freedom= Original Dilemma

      Warm Up 5 Hobbes and Locke

      Hobbes

      Locke

      Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

      Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

      Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

      Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

      Group 4Mike KingChris ConteKarlyRyanKatieDJ

      Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

      Group 2JakeShawnKatieDrewWyattKatAshlyn

      Group 3JennaCeatonJeffLivSteveGarciaTom

      Group 4SuzetteJulianneAlekDanScottSpenserNick R

      Balloon Game Objective

      To be the team with the most filled balloons taped into the square on the board Rules

      1 No running 2 No touching classmates hellip that does

      not mean you canrsquot touch their balloons hellip

      3 No removal of balloons once they are taped to the board

      You will have less than 5 minutes to come up with a strategy in your group

      You will have 10 minutes to get as many filled balloons on the square as possible

      End

      >

      Balloon Game Debriefing What type of behavior did you see during the

      game

      List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

      Why do you think you needed more ldquorulesrdquo during

      this game

      How does this relate to this class How does it relate to the theorists

      Political Theories

      Force Theory small group forced

      all to submit to person andor grouprsquos rule

      Evolutionary Theory developed naturally out of the

      evolution of the family

      Divine Right held that God created the state

      and God had given those of royal birth

      ldquodivine rightrdquo to rule

      Social Contract argues that state arose out of a

      voluntary act of free people State exists only

      to serve the will of the people

      Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

      power to a government to protect them and serve their interests

      bullFree to remove that power at any timebullGovernment can only create laws when it

      has the consent of the governedbullExamples

      Natural Rightsbull Natural rights are ldquoinalienablerdquo and

      cannot be taken away by any one (government)

      bull Government exists to secure our natural rights and is based on the consent of those who are governed

      bull Idea of consent derived from social contract theory

      Democracybull A system of government in which in

      theory the people rule either directly or indirectly

      bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

      Concepts of Governmentbull Ordered governmentmdashneed for order

      bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

      bull Representative governmentmdashidea that government should serve the will of the people (democracy)

      Warm up 6 ndash 91114

      Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

      are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

      Warm Up 7

      bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

      And after the ConstitutionFederalism vs Anti-Federalism

      bullFederalists believed Favored ratification believed Constitution was

      strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

      bullAnti-Federalists believed Opposed ratification believed Constitution

      was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

      Activity

      bullEach of you will get a card it either has a termperson or a definition on it

      bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

      bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

      secret with your partner

      Picture Activity

      bullGallery Walk

      Constitutional Convention

      bullMet in Philadelphia in 1787

      bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

      bullThese men were collectively known as ldquoThe Framersrdquo

      Purpose of the ConventionbullInitial Purpose was to revise the Articles of

      Confederation bullDelegates quickly realized they were

      meeting to create a new government (with 3 branches)

      VA Plan v NJ Plan

      Several plans were proposed to correct the weaknesses of the Articles

      bullVirginia PlanbullNew Jersey Plan

      Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

      Virginia Plan ldquoLarge State Planrdquo

      bullStrong central govrsquotbullL Bicameral Congress

      Representation based on population

      bullE ldquoPresidentrdquo Chosen by Congress

      bullJ 1+ supreme courts with lower courtsChosen by Congress

      New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

      Each state would have = representationExpand power to tax amp regulate trade

      bullE Two-person presidencyChosen by Congress able to be removed

      bullJ Single Supreme CourtChosen by Executive

      Your Task

      Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

      them to choose your planUse catchy phrasesslogans and be sure to

      include the historical features of your plan (VA or NJ)

      At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

      Closure

      bullWhat do you think (or know) happens to these two plans

      States agreebull States agree to (ratify) the Constitution

      only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

      bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

      Quote

      bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

      bullWhat words stick to you in this quote Why

      Structure of Constitutionbull Provides basic

      framework for US government

      bull Outlines basic principles structure and processes

      bull Three partsmdashPreambleArticlesAmendments

      Structure of Constitution bull Preamble

      Introduction to the Constitution Lists ideas that the government should stand for

      and states purposes We the people of the United States in Order

      to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

      6 Purpose of Government bull Form a More Perfect Union

      bull Establish Justice bull Insure Domestic Tranquility

      bull Provide for the Common Defense

      bull Promote the General Welfare

      bull Secure the Blessings of Liberty

      For each phrase consider the followinghellip

      1 Why do you think the Framerrsquos put this phrase in the US Constitution

      2 Is this phrase important today

      Structure of Constitution bullArticles

      Main body of the Constitution Lay out basic structure of the national

      governmentFurther broken down into sections and clauses

      Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

      Clause oaths of office

      Article VII Ratification

      Structure of Constitution

      bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

      Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

      bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

      Activity

      Activity bull STEP 1 bull Fill in the graphic

      organizer in your guided notes packet You have 8 minutes on your own to do this

      bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

      Principle Explanation

      Popular Sovereignty Idea that people are the source of all power held by the government

      Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

      Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

      Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

      Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

      Federalism Divides the power between the central government and the States

      Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

      Question 1

      bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

      Popular Sovereignty

      Question 2

      bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

      Limited Government

      Question 3

      bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

      Limited Government

      Question 4

      bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

      SEPARATION OF POWERS

      Question 5

      bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

      Checks and Balances

      Question 6

      bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

      CHECKS AND BALANCES

      Question 7

      bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

      JUDICIAL REVIEW

      Question 8

      bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

      Federalism

      GroupsPopular

      SovereigntySeparation of

      PowersFederalism

      bull bull bull

      Judicial Review

      Limited Government

      Checks and Balances

      bull bull bull

      Separation of Powers

      bull Legislative branchmdashmakes the laws

      bull Executive branchmdashenforces the laws

      bull Judicial branchmdashinterprets the law

      Video

      bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

      Checks and Balances

      Checks and balances

      bullIn what was do the branches check on one another

      bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

      Basic Principles

      bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

      Self- Worth

      bull A recognition of the fundamental worth of every person

      bull The democratic process reflects the collective set of individuals who make up society

      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

      Compromise

      bull A matter of compromise to determine the position most acceptable to the largest number of people

      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

      bullWhy is compromise important

      Individual Freedombull Right of the

      individual to be free as far as the freedom of all will allow

      bull Democracy does not and cannot insist on the absolute freedom of the individual person

      Write your ownhellipbull Now that you know what the foundations of

      government arehellip Create your own Constitution (Or social contract)

      What do you think is important to include What do you think could be taken out

      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

      Preamble (brief introduction) Articles (what should it include based on what we

      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

      change it)

      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

      paper

      TED Talk

      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

      Closure

      bullExplain two principles of the constitution and how are they connected

      What is Economics

      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

      Important Parts of Economicsndash

      CHOICESSCARCITY

      Economics ishellip

      bullDependent upon assumptions

      bullDependent upon simplification of reality

      Back to our assumptionshellip

      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

      bullAll sellers seek to maximize profits

      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

      For the videohellip

      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

      Post Videohellip

      bullDefine the main idea of the video in 4-5 words

      Advertisement

      bullKnowing some of the basics about what economics is and why we study ithellip

      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

      3 images that represent different economic ideas

      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

      1 slogan that represents why economics is an important course to take

      Political Cartoon Analysis

      Factors of Production bull LAND

      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

      soil minerals water and plants

      bull LABOR Also called Human Resources Includes physical and mental activities that go

      into producing goodsservices

      bull CAPITAL Includes tools machines buildings and

      technologies

      bull ENTREPRENEUR Risk taker who is responsible for combining

      land labor and capital to produce goods and services

      TASK

      bullTask Why are entrepreneurs the driving force in our economy

      bullAnswer in 2-3 sentences

      The price ofhellip

      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

      Economic efficiency is achieved when all available resources are being used

      All societies must answer three basic questions to satisfy the needs and wants of their populations

      1 What to produce

      bullShould it be military or civilian goods

      bullFood or clothingbullMedicine or movies

      2 How to produce it

      bullAutomated or manual labor

      bullExpensive or cheap materials

      bullDomestic or overseas labor

      3 For whom to produce it

      bullThe wealthy or the needybullThe sick or the healthy

      Application Activity

      bull In groups of 2-3 create your own country (name it please)

      bull With your countryrsquos name explain the Population geography and general population

      information (iehellipbull Choose 5 items for your country to produce and

      answer the three societal questions for eachALSO explain why this material would help your

      economy thrivereach economic efficiencybull Create an advertisement for your country

      withhellip Images representing what you produce and a

      slogan for why your country is awesome

      EQs

      bullHow does scarcity impact decision making

      Objectives amp Essential QuestionsbullObjectives

      I will be able to create and reflect on a budget given new economics content

      I will be able to understand scarcity and our mixed economy

      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

      Group Activity Budget Activity

      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

      How do we satisfy our economic wants

      bull We buy goods or services

      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

      bull Service ndash work done by someone else for which someone is willing to pay

      How do we make goods amp services

      bull Use Factors of Production - The productive resources that go into producing goods and services

      Production Equation

      LAND + LABOR + CAPITAL = GOODSERVICE

      inputs output

      Economic Interdependence

      bullWhat does lsquointerdependencersquo mean

      bullIs our world becoming economic interdependent or independent

      bullEconomic Interdependence the actions of one part of the

      country (world) has an impact on what happens elsewhere

      Wants amp Needs gt

      Resources

      Because of scarcity we

      have to make choices

      How do we make a choice What do we give up

      What does this remind you of from our government unit

      Making Choices to Deal With Scarcity

      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

      decision over another

      ExampleshellipbullSome choices are easy to makehellip

      HmmhellipShould I have pizza or a hoagie for lunch today

      bullOther decisions are agonizinghellipShould I get out of bed and go to

      school today or should I sleep in

      Task Reflecting on Personal Trade-offshellip

      In the end what helped you decide amongst your choices

      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

      tradeoffs for that decision

      Be prepared to share

      Opportunity Cost

      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

      Opportunity Cost ndash The best thing we give up to get what

      we want

      What else influences your choices

      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

      FinallyhellipWhy it Matters

      Understanding the opportunity coststradeoffs of different choices in life makes you a

      better decision-maker

      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

      You always have to give something uphelliprdquo

      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

      decisions

      Visualizing the Relationshiphellip

      Limited Resources amp Unlimited Wants

      Scarcity

      Trade-offs (choices)

      Opportunity Costs

      ObjectivesEssential Questions

      bullObjectivebullI will be able to understand (and teach)

      the three different types of economies

      bullEssential Question How do the different types of economies work

      How Can We Measure What We Gain and Lose When

      Making Choices

      Answer With a Production Possibilities Frontier

      Production Possibilities Frontier

      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

      PPF Assumptions

      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

      Production Possibilities Curve

      CD

      E

      OU

      TP

      UT

      OF

      CO

      NS

      UM

      ER

      GO

      OD

      S

      (un

      its

      per

      yea

      r)

      OUTPUT OF MILITARY GOODS (units per year)

      A

      BO

      XF

      G

      Limited resources necessitate choices about WHAT to produce

      The Choices Nations Make

      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

      bullProduce military goods or consumer goods

      Economic Growth

      2000 production possibilities

      1900 production possibilities

      OU

      TP

      UT

      OF

      CO

      NS

      UM

      ER

      GO

      OD

      S(u

      nits

      per

      yea

      r)

      OUTPUT OF MILITARY GOODS (units per year)

      Production possibilities increases with more resources and technology

      The Classic Guns and Butter example

      Guns

      Butter

      10000 20000 30000 40000 50000

      1000009500085000

      70000

      5000040000

      BA

      C

      D

      E

      F

      At point A all resources are used for butter

      Moving from point A to point B requires shifting resources out of butter and into guns

      At point F all resources are used for Guns

      Productivitybull A PPF can help us see how efficient our

      choices are

      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

      Locations on a PPF

      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

      Food

      Computer

      4

      3

      2

      1

      1 2 3 4

      OC between 1 and 2 computers = 1 Food

      UnitOC between 3 and 4 computers = 1 Food

      Unit

      Constantly giving up the same quantity of food to get

      additional computers

      STRAIGHT-LINE PPFs Constant OC

      BOWED-OUT PPFs VaryingIncreasing OC

      Principle of Increasing Costs

      As a society produces more of one product the OC of producing

      that product increases because we are using more resources that are poorly suited to produce it

      Economic Systems

      An economic system is the way a society coordinates the production and consumption of goods amp services

      How a society answers the three basic economic questions determines which type of economic system they are

      Three Types of Economic Systems Command Traditional Market

      Jigsaw activity

      bullYou will be placed in groups of 3 and assigned a type of economy

      bullYou will have 7 minutes to read and come up with 4 key components

      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

      Economic amp Social Goals of an Economic System

      bull Economic Freedom

      bull Economic Efficiency

      bull Economic Equity

      bull Economic Security

      Economic Stability

      Economic Growth

      Review of Economic Systems

      bullA traditional economy relies on custom and tradition to dictate production and consumption

      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

      bullIn a market economy individual producers and consumers coordinate economic activity

      What are the most important goals of each economic system

      bullTraditionalSecurity and

      StabilitybullCommand

      Equity and Security

      bullMARKETEfficiency and

      Freedom

      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

      at the expense of another (TRADEOFFS)

      Which economic system does the US use

      The American Economic System

      bullWe have a mixed market economy

      COMMAND MARKET

      The US mixed economybull In a mixed economyhellip

      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

      Think backhellip

      bullWhat does this remind you of from the beginning of the unit

      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

      2 Limited government

      3 Equal opportunity

      4 Competition

      5 Profit motive

      6 Property Rights

      7 Binding Contracts

      Understanding how all parts fit together

      Circular Flow of Economic Activity Represents a market economy

      2 main ldquomarketsrdquoProduct Market Factor Market

      where goods and services where the 4 factors ofare boughtsold production are boughtsold

      Shows interdependence between

      businesses and individuals

      Marriage Vowsbull CONGRATULATIONS The government and the economy

      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

      bull Using what you have learned this unit and using the textbook

      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

      Do you remember

      bullWrite the following question downbullWhy does the United States have a

      democracy and mixed economy

      • Foundations of Government and Economics
      • On your blank piece of paperhellip
      • Slide 3
      • Warm-Up 1 - 9414
      • Introductory thoughts hellip
      • Slide 6
      • 2 How about to your life
      • Slide 8
      • Slide 9
      • Slide 10
      • Slide 11
      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
      • Warm up 2bndash In Journal-
      • Economist and Politician Assumptions
      • Individualism
      • Quote activity
      • Quote breakdown
      • Warm Up 3- Current Event 9814
      • Purpose of Government
      • Slide 20
      • 3 Theorists
      • Activity
      • Origins of American Government A customized government
      • Origins of American Government A customized government (2)
      • Origins of American Government A customized government (3)
      • With which theory do you agree more Why
      • The ldquoOriginal Dilemmardquo
      • Warm Up 5 Hobbes and Locke
      • Groups Block 2
      • Groups Block 4
      • Balloon Game
      • You will have 10 minutes to get as many filled balloons on the
      • Balloon Game Debriefing
      • Political Theories
      • Social Contract
      • Natural Rights
      • Democracy
      • Concepts of Government
      • Warm up 6 ndash 91114
      • Warm Up 7
      • And after the Constitution
      • Activity (2)
      • Picture Activity
      • Constitutional Convention
      • Purpose of the Convention
      • VA Plan v NJ Plan
      • Virginia Plan ldquoLarge State Planrdquo
      • New Jersey Plan ldquoSmall State Planrdquo
      • Your Task
      • Closure
      • States agree
      • Quote
      • Structure of Constitution
      • Structure of Constitution
      • 6 Purpose of Government
      • Structure of Constitution (2)
      • Structure of Constitution (3)
      • Principles of Constitution
      • Activity
      • Slide 60
      • Check for Understanding Six Principles
      • Question 1
      • Question 2
      • Question 3
      • Question 4
      • Question 5
      • Question 6
      • Question 7
      • Question 8
      • Groups
      • Separation of Powers
      • Video
      • Checks and Balances
      • Slide 74
      • Checks and balances
      • Basic Principles
      • Self- Worth
      • Equality
      • Compromise
      • Individual Freedom
      • Write your ownhellip
      • Slide 82
      • TED Talk
      • Closure
      • What is Economics
      • Economics ishellip
      • Back to our assumptionshellip
      • Scarcity refers to the limited number of resources (factors of
      • For the videohellip
      • Slide 90
      • Post Videohellip
      • Advertisement
      • Political Cartoon Analysis
      • Factors of Production
      • TASK
      • The price ofhellip
      • Economic efficiency is achieved when all available resources ar
      • 1 What to produce
      • 2 How to produce it
      • 3 For whom to produce it
      • Application Activity
      • EQs
      • Objectives amp Essential Questions
      • Group Activity Budget Activity
      • Slide 105
      • How do we satisfy our economic wants
      • How do we make goods amp services
      • Economic Interdependence
      • Slide 109
      • Making Choices to Deal With Scarcity
      • Exampleshellip
      • Task Reflecting on Personal Trade-offshellip
      • Opportunity Cost
      • What else influences your choices
      • Finallyhellip Why it Matters
      • Visualizing the Relationshiphellip
      • ObjectivesEssential Questions
      • How Can We Measure What We Gain and Lose When Making Choices
      • Production Possibilities Frontier
      • PPF Assumptions
      • Slide 121
      • Production Possibilities Curve
      • The Choices Nations Make
      • Economic Growth
      • The Classic Guns and Butter example
      • Productivity
      • Locations on a PPF
      • Slide 128
      • BOWED-OUT PPFs VaryingIncreasing OC
      • Economic Systems
      • Jigsaw activity
      • Slide 132
      • Economic amp Social Goals of an Economic System
      • Review of Economic Systems
      • Slide 135
      • What are the most important goals of each economic system
      • Which economic system does the US use
      • The American Economic System
      • The US mixed economy
      • Slide 140
      • Think backhellip
      • US Economic System Characteristics
      • Slide 143
      • Understanding how all parts fit together
      • Marriage Vows
      • Do you remember
      • Slide 147

        Warm-Up 1 - 9414

        bullIn your journal please write down a definition of the term GOVERNMENT in your own words

        Introductory thoughts hellip

        bullhttpcongressindianaedue-learning-module-the-impact-congress

        2 How about to your life

        Relationship between economics amp government

        Make a List

        CaricaturesWhat are they

        a drawing that makes someone look funny or foolish because some part of the persons appearance is exaggerated

        Use of symbols or other items that represent an idea associated with the person or topic

        CARICATURES

        HOW WOULD YOU DRAWAMERICA AS A CARICATURE

        - Man or woman- Young or old- Fit or fat- Attractive or ugly- What symbols would come associated with it A

        truck A tank A hybrid

        On your paper draw America as you envision it as a caricature Must have color and at least two symbolsitemsaccessories

        No stick figures

        YOUR CARICATURE MUST

        - Have color

        - Be of America and how you view our country

        - Include symbolsitemsaccessories that represent how you view our country

        - Have a reasonable explanation for how it looks

        PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

        Warm Up -2a- 9514The New York Times and CBS News Pollhellip

        How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

        alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

        How can you link this poll to why it is important to study our government and economic system

        Warm up 2bndash In Journal-

        Economist and Politician Assumptions

        bull When studying humans people in politics and economics think abouthellip

        bull Self worth individuals have worth and value their lives

        bull Self interest people pursue their own interests to improve their lives

        bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

        bull Equilibrium Balance of competing forces

        Individualism

        bullWhat words do you associate with individualism

        bullOur definitionideology or social outlook that emphasizes

        the moral worth of the individual

        Quote activity

        bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

        sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

        your sheetbull You may then have 10 minutes to share

        your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

        Quote breakdown

        bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

        obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

        way it does not existrdquo

        bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

        societyrdquo ldquoAn individual has not started living until he can rise above the narrow

        confines of his individualistic concerns to the broader concerns of all humanityrdquo

        bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

        that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

        ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

        ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

        Warm Up 3- Current Event 9814

        bullTake a minute to write about a current event you have recently learned about within the past week

        Purpose of Government

        We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

        According to the Preamble what are the 6 purposes of our government

        Purpose of Government

        form a more perfect Union establish Justice the law must be

        reasonable fair and impartialinsure domestic Tranquility order is

        essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

        guarantee civil rights and liberties

        3 Theorists bullThree classical theorists believed in the

        need for government for different reasonsEach reason accepted the assumption that

        men are invested in their own self-interestbullHobbes Locke Rousseau

        ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

        governmentbullDecide which idea is a belief about the natural

        state of manbullBased on these ideas decide which quote

        belongs to which theoristbullExplain the quote in your own words and how

        it relates to each personrsquos beliefs about government and the natural state of man

        Origins of American Government A customized government

        bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

        Developed notion of social contract between rulers and their subjects

        Believed people were too selfish to govern themselves

        ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

        Origins of American Government A customized government

        bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

        Ideas helped lay foundations for democratic government

        Believed people formed governments to protect their rights and were innately good

        ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

        Origins of American Government A customized government

        bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

        Believed people were naturally good but corrupted and enslaved by society

        Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

        ldquoForce does not create right obedience is due to only legitimate powersrdquo

        With which theory do you agree more Why

        John Locke Thomas Hobbes

        The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

        purpose of government Government needs to attain power from the

        people in order to perform any functions

        CLOSURE How much power is too much How much

        liberty should be given up hellip bullThis represented a debated trade offhellip

        Clash of order and freedom= Original Dilemma

        Warm Up 5 Hobbes and Locke

        Hobbes

        Locke

        Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

        Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

        Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

        Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

        Group 4Mike KingChris ConteKarlyRyanKatieDJ

        Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

        Group 2JakeShawnKatieDrewWyattKatAshlyn

        Group 3JennaCeatonJeffLivSteveGarciaTom

        Group 4SuzetteJulianneAlekDanScottSpenserNick R

        Balloon Game Objective

        To be the team with the most filled balloons taped into the square on the board Rules

        1 No running 2 No touching classmates hellip that does

        not mean you canrsquot touch their balloons hellip

        3 No removal of balloons once they are taped to the board

        You will have less than 5 minutes to come up with a strategy in your group

        You will have 10 minutes to get as many filled balloons on the square as possible

        End

        >

        Balloon Game Debriefing What type of behavior did you see during the

        game

        List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

        Why do you think you needed more ldquorulesrdquo during

        this game

        How does this relate to this class How does it relate to the theorists

        Political Theories

        Force Theory small group forced

        all to submit to person andor grouprsquos rule

        Evolutionary Theory developed naturally out of the

        evolution of the family

        Divine Right held that God created the state

        and God had given those of royal birth

        ldquodivine rightrdquo to rule

        Social Contract argues that state arose out of a

        voluntary act of free people State exists only

        to serve the will of the people

        Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

        power to a government to protect them and serve their interests

        bullFree to remove that power at any timebullGovernment can only create laws when it

        has the consent of the governedbullExamples

        Natural Rightsbull Natural rights are ldquoinalienablerdquo and

        cannot be taken away by any one (government)

        bull Government exists to secure our natural rights and is based on the consent of those who are governed

        bull Idea of consent derived from social contract theory

        Democracybull A system of government in which in

        theory the people rule either directly or indirectly

        bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

        Concepts of Governmentbull Ordered governmentmdashneed for order

        bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

        bull Representative governmentmdashidea that government should serve the will of the people (democracy)

        Warm up 6 ndash 91114

        Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

        are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

        Warm Up 7

        bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

        And after the ConstitutionFederalism vs Anti-Federalism

        bullFederalists believed Favored ratification believed Constitution was

        strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

        bullAnti-Federalists believed Opposed ratification believed Constitution

        was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

        Activity

        bullEach of you will get a card it either has a termperson or a definition on it

        bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

        bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

        secret with your partner

        Picture Activity

        bullGallery Walk

        Constitutional Convention

        bullMet in Philadelphia in 1787

        bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

        bullThese men were collectively known as ldquoThe Framersrdquo

        Purpose of the ConventionbullInitial Purpose was to revise the Articles of

        Confederation bullDelegates quickly realized they were

        meeting to create a new government (with 3 branches)

        VA Plan v NJ Plan

        Several plans were proposed to correct the weaknesses of the Articles

        bullVirginia PlanbullNew Jersey Plan

        Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

        Virginia Plan ldquoLarge State Planrdquo

        bullStrong central govrsquotbullL Bicameral Congress

        Representation based on population

        bullE ldquoPresidentrdquo Chosen by Congress

        bullJ 1+ supreme courts with lower courtsChosen by Congress

        New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

        Each state would have = representationExpand power to tax amp regulate trade

        bullE Two-person presidencyChosen by Congress able to be removed

        bullJ Single Supreme CourtChosen by Executive

        Your Task

        Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

        them to choose your planUse catchy phrasesslogans and be sure to

        include the historical features of your plan (VA or NJ)

        At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

        Closure

        bullWhat do you think (or know) happens to these two plans

        States agreebull States agree to (ratify) the Constitution

        only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

        bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

        Quote

        bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

        bullWhat words stick to you in this quote Why

        Structure of Constitutionbull Provides basic

        framework for US government

        bull Outlines basic principles structure and processes

        bull Three partsmdashPreambleArticlesAmendments

        Structure of Constitution bull Preamble

        Introduction to the Constitution Lists ideas that the government should stand for

        and states purposes We the people of the United States in Order

        to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

        6 Purpose of Government bull Form a More Perfect Union

        bull Establish Justice bull Insure Domestic Tranquility

        bull Provide for the Common Defense

        bull Promote the General Welfare

        bull Secure the Blessings of Liberty

        For each phrase consider the followinghellip

        1 Why do you think the Framerrsquos put this phrase in the US Constitution

        2 Is this phrase important today

        Structure of Constitution bullArticles

        Main body of the Constitution Lay out basic structure of the national

        governmentFurther broken down into sections and clauses

        Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

        Clause oaths of office

        Article VII Ratification

        Structure of Constitution

        bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

        Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

        bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

        Activity

        Activity bull STEP 1 bull Fill in the graphic

        organizer in your guided notes packet You have 8 minutes on your own to do this

        bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

        Principle Explanation

        Popular Sovereignty Idea that people are the source of all power held by the government

        Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

        Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

        Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

        Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

        Federalism Divides the power between the central government and the States

        Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

        Question 1

        bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

        Popular Sovereignty

        Question 2

        bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

        Limited Government

        Question 3

        bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

        Limited Government

        Question 4

        bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

        SEPARATION OF POWERS

        Question 5

        bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

        Checks and Balances

        Question 6

        bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

        CHECKS AND BALANCES

        Question 7

        bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

        JUDICIAL REVIEW

        Question 8

        bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

        Federalism

        GroupsPopular

        SovereigntySeparation of

        PowersFederalism

        bull bull bull

        Judicial Review

        Limited Government

        Checks and Balances

        bull bull bull

        Separation of Powers

        bull Legislative branchmdashmakes the laws

        bull Executive branchmdashenforces the laws

        bull Judicial branchmdashinterprets the law

        Video

        bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

        Checks and Balances

        Checks and balances

        bullIn what was do the branches check on one another

        bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

        Basic Principles

        bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

        Self- Worth

        bull A recognition of the fundamental worth of every person

        bull The democratic process reflects the collective set of individuals who make up society

        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

        Compromise

        bull A matter of compromise to determine the position most acceptable to the largest number of people

        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

        bullWhy is compromise important

        Individual Freedombull Right of the

        individual to be free as far as the freedom of all will allow

        bull Democracy does not and cannot insist on the absolute freedom of the individual person

        Write your ownhellipbull Now that you know what the foundations of

        government arehellip Create your own Constitution (Or social contract)

        What do you think is important to include What do you think could be taken out

        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

        Preamble (brief introduction) Articles (what should it include based on what we

        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

        change it)

        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

        paper

        TED Talk

        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

        Closure

        bullExplain two principles of the constitution and how are they connected

        What is Economics

        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

        Important Parts of Economicsndash

        CHOICESSCARCITY

        Economics ishellip

        bullDependent upon assumptions

        bullDependent upon simplification of reality

        Back to our assumptionshellip

        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

        bullAll sellers seek to maximize profits

        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

        For the videohellip

        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

        Post Videohellip

        bullDefine the main idea of the video in 4-5 words

        Advertisement

        bullKnowing some of the basics about what economics is and why we study ithellip

        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

        3 images that represent different economic ideas

        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

        1 slogan that represents why economics is an important course to take

        Political Cartoon Analysis

        Factors of Production bull LAND

        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

        soil minerals water and plants

        bull LABOR Also called Human Resources Includes physical and mental activities that go

        into producing goodsservices

        bull CAPITAL Includes tools machines buildings and

        technologies

        bull ENTREPRENEUR Risk taker who is responsible for combining

        land labor and capital to produce goods and services

        TASK

        bullTask Why are entrepreneurs the driving force in our economy

        bullAnswer in 2-3 sentences

        The price ofhellip

        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

        Economic efficiency is achieved when all available resources are being used

        All societies must answer three basic questions to satisfy the needs and wants of their populations

        1 What to produce

        bullShould it be military or civilian goods

        bullFood or clothingbullMedicine or movies

        2 How to produce it

        bullAutomated or manual labor

        bullExpensive or cheap materials

        bullDomestic or overseas labor

        3 For whom to produce it

        bullThe wealthy or the needybullThe sick or the healthy

        Application Activity

        bull In groups of 2-3 create your own country (name it please)

        bull With your countryrsquos name explain the Population geography and general population

        information (iehellipbull Choose 5 items for your country to produce and

        answer the three societal questions for eachALSO explain why this material would help your

        economy thrivereach economic efficiencybull Create an advertisement for your country

        withhellip Images representing what you produce and a

        slogan for why your country is awesome

        EQs

        bullHow does scarcity impact decision making

        Objectives amp Essential QuestionsbullObjectives

        I will be able to create and reflect on a budget given new economics content

        I will be able to understand scarcity and our mixed economy

        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

        Group Activity Budget Activity

        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

        How do we satisfy our economic wants

        bull We buy goods or services

        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

        bull Service ndash work done by someone else for which someone is willing to pay

        How do we make goods amp services

        bull Use Factors of Production - The productive resources that go into producing goods and services

        Production Equation

        LAND + LABOR + CAPITAL = GOODSERVICE

        inputs output

        Economic Interdependence

        bullWhat does lsquointerdependencersquo mean

        bullIs our world becoming economic interdependent or independent

        bullEconomic Interdependence the actions of one part of the

        country (world) has an impact on what happens elsewhere

        Wants amp Needs gt

        Resources

        Because of scarcity we

        have to make choices

        How do we make a choice What do we give up

        What does this remind you of from our government unit

        Making Choices to Deal With Scarcity

        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

        decision over another

        ExampleshellipbullSome choices are easy to makehellip

        HmmhellipShould I have pizza or a hoagie for lunch today

        bullOther decisions are agonizinghellipShould I get out of bed and go to

        school today or should I sleep in

        Task Reflecting on Personal Trade-offshellip

        In the end what helped you decide amongst your choices

        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

        tradeoffs for that decision

        Be prepared to share

        Opportunity Cost

        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

        Opportunity Cost ndash The best thing we give up to get what

        we want

        What else influences your choices

        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

        FinallyhellipWhy it Matters

        Understanding the opportunity coststradeoffs of different choices in life makes you a

        better decision-maker

        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

        You always have to give something uphelliprdquo

        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

        decisions

        Visualizing the Relationshiphellip

        Limited Resources amp Unlimited Wants

        Scarcity

        Trade-offs (choices)

        Opportunity Costs

        ObjectivesEssential Questions

        bullObjectivebullI will be able to understand (and teach)

        the three different types of economies

        bullEssential Question How do the different types of economies work

        How Can We Measure What We Gain and Lose When

        Making Choices

        Answer With a Production Possibilities Frontier

        Production Possibilities Frontier

        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

        PPF Assumptions

        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

        Production Possibilities Curve

        CD

        E

        OU

        TP

        UT

        OF

        CO

        NS

        UM

        ER

        GO

        OD

        S

        (un

        its

        per

        yea

        r)

        OUTPUT OF MILITARY GOODS (units per year)

        A

        BO

        XF

        G

        Limited resources necessitate choices about WHAT to produce

        The Choices Nations Make

        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

        bullProduce military goods or consumer goods

        Economic Growth

        2000 production possibilities

        1900 production possibilities

        OU

        TP

        UT

        OF

        CO

        NS

        UM

        ER

        GO

        OD

        S(u

        nits

        per

        yea

        r)

        OUTPUT OF MILITARY GOODS (units per year)

        Production possibilities increases with more resources and technology

        The Classic Guns and Butter example

        Guns

        Butter

        10000 20000 30000 40000 50000

        1000009500085000

        70000

        5000040000

        BA

        C

        D

        E

        F

        At point A all resources are used for butter

        Moving from point A to point B requires shifting resources out of butter and into guns

        At point F all resources are used for Guns

        Productivitybull A PPF can help us see how efficient our

        choices are

        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

        Locations on a PPF

        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

        Food

        Computer

        4

        3

        2

        1

        1 2 3 4

        OC between 1 and 2 computers = 1 Food

        UnitOC between 3 and 4 computers = 1 Food

        Unit

        Constantly giving up the same quantity of food to get

        additional computers

        STRAIGHT-LINE PPFs Constant OC

        BOWED-OUT PPFs VaryingIncreasing OC

        Principle of Increasing Costs

        As a society produces more of one product the OC of producing

        that product increases because we are using more resources that are poorly suited to produce it

        Economic Systems

        An economic system is the way a society coordinates the production and consumption of goods amp services

        How a society answers the three basic economic questions determines which type of economic system they are

        Three Types of Economic Systems Command Traditional Market

        Jigsaw activity

        bullYou will be placed in groups of 3 and assigned a type of economy

        bullYou will have 7 minutes to read and come up with 4 key components

        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

        Economic amp Social Goals of an Economic System

        bull Economic Freedom

        bull Economic Efficiency

        bull Economic Equity

        bull Economic Security

        Economic Stability

        Economic Growth

        Review of Economic Systems

        bullA traditional economy relies on custom and tradition to dictate production and consumption

        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

        bullIn a market economy individual producers and consumers coordinate economic activity

        What are the most important goals of each economic system

        bullTraditionalSecurity and

        StabilitybullCommand

        Equity and Security

        bullMARKETEfficiency and

        Freedom

        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

        at the expense of another (TRADEOFFS)

        Which economic system does the US use

        The American Economic System

        bullWe have a mixed market economy

        COMMAND MARKET

        The US mixed economybull In a mixed economyhellip

        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

        Think backhellip

        bullWhat does this remind you of from the beginning of the unit

        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

        2 Limited government

        3 Equal opportunity

        4 Competition

        5 Profit motive

        6 Property Rights

        7 Binding Contracts

        Understanding how all parts fit together

        Circular Flow of Economic Activity Represents a market economy

        2 main ldquomarketsrdquoProduct Market Factor Market

        where goods and services where the 4 factors ofare boughtsold production are boughtsold

        Shows interdependence between

        businesses and individuals

        Marriage Vowsbull CONGRATULATIONS The government and the economy

        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

        bull Using what you have learned this unit and using the textbook

        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

        Do you remember

        bullWrite the following question downbullWhy does the United States have a

        democracy and mixed economy

        • Foundations of Government and Economics
        • On your blank piece of paperhellip
        • Slide 3
        • Warm-Up 1 - 9414
        • Introductory thoughts hellip
        • Slide 6
        • 2 How about to your life
        • Slide 8
        • Slide 9
        • Slide 10
        • Slide 11
        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
        • Warm up 2bndash In Journal-
        • Economist and Politician Assumptions
        • Individualism
        • Quote activity
        • Quote breakdown
        • Warm Up 3- Current Event 9814
        • Purpose of Government
        • Slide 20
        • 3 Theorists
        • Activity
        • Origins of American Government A customized government
        • Origins of American Government A customized government (2)
        • Origins of American Government A customized government (3)
        • With which theory do you agree more Why
        • The ldquoOriginal Dilemmardquo
        • Warm Up 5 Hobbes and Locke
        • Groups Block 2
        • Groups Block 4
        • Balloon Game
        • You will have 10 minutes to get as many filled balloons on the
        • Balloon Game Debriefing
        • Political Theories
        • Social Contract
        • Natural Rights
        • Democracy
        • Concepts of Government
        • Warm up 6 ndash 91114
        • Warm Up 7
        • And after the Constitution
        • Activity (2)
        • Picture Activity
        • Constitutional Convention
        • Purpose of the Convention
        • VA Plan v NJ Plan
        • Virginia Plan ldquoLarge State Planrdquo
        • New Jersey Plan ldquoSmall State Planrdquo
        • Your Task
        • Closure
        • States agree
        • Quote
        • Structure of Constitution
        • Structure of Constitution
        • 6 Purpose of Government
        • Structure of Constitution (2)
        • Structure of Constitution (3)
        • Principles of Constitution
        • Activity
        • Slide 60
        • Check for Understanding Six Principles
        • Question 1
        • Question 2
        • Question 3
        • Question 4
        • Question 5
        • Question 6
        • Question 7
        • Question 8
        • Groups
        • Separation of Powers
        • Video
        • Checks and Balances
        • Slide 74
        • Checks and balances
        • Basic Principles
        • Self- Worth
        • Equality
        • Compromise
        • Individual Freedom
        • Write your ownhellip
        • Slide 82
        • TED Talk
        • Closure
        • What is Economics
        • Economics ishellip
        • Back to our assumptionshellip
        • Scarcity refers to the limited number of resources (factors of
        • For the videohellip
        • Slide 90
        • Post Videohellip
        • Advertisement
        • Political Cartoon Analysis
        • Factors of Production
        • TASK
        • The price ofhellip
        • Economic efficiency is achieved when all available resources ar
        • 1 What to produce
        • 2 How to produce it
        • 3 For whom to produce it
        • Application Activity
        • EQs
        • Objectives amp Essential Questions
        • Group Activity Budget Activity
        • Slide 105
        • How do we satisfy our economic wants
        • How do we make goods amp services
        • Economic Interdependence
        • Slide 109
        • Making Choices to Deal With Scarcity
        • Exampleshellip
        • Task Reflecting on Personal Trade-offshellip
        • Opportunity Cost
        • What else influences your choices
        • Finallyhellip Why it Matters
        • Visualizing the Relationshiphellip
        • ObjectivesEssential Questions
        • How Can We Measure What We Gain and Lose When Making Choices
        • Production Possibilities Frontier
        • PPF Assumptions
        • Slide 121
        • Production Possibilities Curve
        • The Choices Nations Make
        • Economic Growth
        • The Classic Guns and Butter example
        • Productivity
        • Locations on a PPF
        • Slide 128
        • BOWED-OUT PPFs VaryingIncreasing OC
        • Economic Systems
        • Jigsaw activity
        • Slide 132
        • Economic amp Social Goals of an Economic System
        • Review of Economic Systems
        • Slide 135
        • What are the most important goals of each economic system
        • Which economic system does the US use
        • The American Economic System
        • The US mixed economy
        • Slide 140
        • Think backhellip
        • US Economic System Characteristics
        • Slide 143
        • Understanding how all parts fit together
        • Marriage Vows
        • Do you remember
        • Slide 147

          Introductory thoughts hellip

          bullhttpcongressindianaedue-learning-module-the-impact-congress

          2 How about to your life

          Relationship between economics amp government

          Make a List

          CaricaturesWhat are they

          a drawing that makes someone look funny or foolish because some part of the persons appearance is exaggerated

          Use of symbols or other items that represent an idea associated with the person or topic

          CARICATURES

          HOW WOULD YOU DRAWAMERICA AS A CARICATURE

          - Man or woman- Young or old- Fit or fat- Attractive or ugly- What symbols would come associated with it A

          truck A tank A hybrid

          On your paper draw America as you envision it as a caricature Must have color and at least two symbolsitemsaccessories

          No stick figures

          YOUR CARICATURE MUST

          - Have color

          - Be of America and how you view our country

          - Include symbolsitemsaccessories that represent how you view our country

          - Have a reasonable explanation for how it looks

          PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

          Warm Up -2a- 9514The New York Times and CBS News Pollhellip

          How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

          alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

          How can you link this poll to why it is important to study our government and economic system

          Warm up 2bndash In Journal-

          Economist and Politician Assumptions

          bull When studying humans people in politics and economics think abouthellip

          bull Self worth individuals have worth and value their lives

          bull Self interest people pursue their own interests to improve their lives

          bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

          bull Equilibrium Balance of competing forces

          Individualism

          bullWhat words do you associate with individualism

          bullOur definitionideology or social outlook that emphasizes

          the moral worth of the individual

          Quote activity

          bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

          sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

          your sheetbull You may then have 10 minutes to share

          your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

          Quote breakdown

          bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

          obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

          way it does not existrdquo

          bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

          societyrdquo ldquoAn individual has not started living until he can rise above the narrow

          confines of his individualistic concerns to the broader concerns of all humanityrdquo

          bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

          that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

          ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

          ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

          Warm Up 3- Current Event 9814

          bullTake a minute to write about a current event you have recently learned about within the past week

          Purpose of Government

          We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

          According to the Preamble what are the 6 purposes of our government

          Purpose of Government

          form a more perfect Union establish Justice the law must be

          reasonable fair and impartialinsure domestic Tranquility order is

          essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

          guarantee civil rights and liberties

          3 Theorists bullThree classical theorists believed in the

          need for government for different reasonsEach reason accepted the assumption that

          men are invested in their own self-interestbullHobbes Locke Rousseau

          ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

          governmentbullDecide which idea is a belief about the natural

          state of manbullBased on these ideas decide which quote

          belongs to which theoristbullExplain the quote in your own words and how

          it relates to each personrsquos beliefs about government and the natural state of man

          Origins of American Government A customized government

          bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

          Developed notion of social contract between rulers and their subjects

          Believed people were too selfish to govern themselves

          ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

          Origins of American Government A customized government

          bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

          Ideas helped lay foundations for democratic government

          Believed people formed governments to protect their rights and were innately good

          ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

          Origins of American Government A customized government

          bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

          Believed people were naturally good but corrupted and enslaved by society

          Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

          ldquoForce does not create right obedience is due to only legitimate powersrdquo

          With which theory do you agree more Why

          John Locke Thomas Hobbes

          The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

          purpose of government Government needs to attain power from the

          people in order to perform any functions

          CLOSURE How much power is too much How much

          liberty should be given up hellip bullThis represented a debated trade offhellip

          Clash of order and freedom= Original Dilemma

          Warm Up 5 Hobbes and Locke

          Hobbes

          Locke

          Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

          Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

          Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

          Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

          Group 4Mike KingChris ConteKarlyRyanKatieDJ

          Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

          Group 2JakeShawnKatieDrewWyattKatAshlyn

          Group 3JennaCeatonJeffLivSteveGarciaTom

          Group 4SuzetteJulianneAlekDanScottSpenserNick R

          Balloon Game Objective

          To be the team with the most filled balloons taped into the square on the board Rules

          1 No running 2 No touching classmates hellip that does

          not mean you canrsquot touch their balloons hellip

          3 No removal of balloons once they are taped to the board

          You will have less than 5 minutes to come up with a strategy in your group

          You will have 10 minutes to get as many filled balloons on the square as possible

          End

          >

          Balloon Game Debriefing What type of behavior did you see during the

          game

          List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

          Why do you think you needed more ldquorulesrdquo during

          this game

          How does this relate to this class How does it relate to the theorists

          Political Theories

          Force Theory small group forced

          all to submit to person andor grouprsquos rule

          Evolutionary Theory developed naturally out of the

          evolution of the family

          Divine Right held that God created the state

          and God had given those of royal birth

          ldquodivine rightrdquo to rule

          Social Contract argues that state arose out of a

          voluntary act of free people State exists only

          to serve the will of the people

          Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

          power to a government to protect them and serve their interests

          bullFree to remove that power at any timebullGovernment can only create laws when it

          has the consent of the governedbullExamples

          Natural Rightsbull Natural rights are ldquoinalienablerdquo and

          cannot be taken away by any one (government)

          bull Government exists to secure our natural rights and is based on the consent of those who are governed

          bull Idea of consent derived from social contract theory

          Democracybull A system of government in which in

          theory the people rule either directly or indirectly

          bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

          Concepts of Governmentbull Ordered governmentmdashneed for order

          bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

          bull Representative governmentmdashidea that government should serve the will of the people (democracy)

          Warm up 6 ndash 91114

          Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

          are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

          Warm Up 7

          bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

          And after the ConstitutionFederalism vs Anti-Federalism

          bullFederalists believed Favored ratification believed Constitution was

          strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

          bullAnti-Federalists believed Opposed ratification believed Constitution

          was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

          Activity

          bullEach of you will get a card it either has a termperson or a definition on it

          bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

          bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

          secret with your partner

          Picture Activity

          bullGallery Walk

          Constitutional Convention

          bullMet in Philadelphia in 1787

          bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

          bullThese men were collectively known as ldquoThe Framersrdquo

          Purpose of the ConventionbullInitial Purpose was to revise the Articles of

          Confederation bullDelegates quickly realized they were

          meeting to create a new government (with 3 branches)

          VA Plan v NJ Plan

          Several plans were proposed to correct the weaknesses of the Articles

          bullVirginia PlanbullNew Jersey Plan

          Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

          Virginia Plan ldquoLarge State Planrdquo

          bullStrong central govrsquotbullL Bicameral Congress

          Representation based on population

          bullE ldquoPresidentrdquo Chosen by Congress

          bullJ 1+ supreme courts with lower courtsChosen by Congress

          New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

          Each state would have = representationExpand power to tax amp regulate trade

          bullE Two-person presidencyChosen by Congress able to be removed

          bullJ Single Supreme CourtChosen by Executive

          Your Task

          Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

          them to choose your planUse catchy phrasesslogans and be sure to

          include the historical features of your plan (VA or NJ)

          At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

          Closure

          bullWhat do you think (or know) happens to these two plans

          States agreebull States agree to (ratify) the Constitution

          only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

          bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

          Quote

          bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

          bullWhat words stick to you in this quote Why

          Structure of Constitutionbull Provides basic

          framework for US government

          bull Outlines basic principles structure and processes

          bull Three partsmdashPreambleArticlesAmendments

          Structure of Constitution bull Preamble

          Introduction to the Constitution Lists ideas that the government should stand for

          and states purposes We the people of the United States in Order

          to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

          6 Purpose of Government bull Form a More Perfect Union

          bull Establish Justice bull Insure Domestic Tranquility

          bull Provide for the Common Defense

          bull Promote the General Welfare

          bull Secure the Blessings of Liberty

          For each phrase consider the followinghellip

          1 Why do you think the Framerrsquos put this phrase in the US Constitution

          2 Is this phrase important today

          Structure of Constitution bullArticles

          Main body of the Constitution Lay out basic structure of the national

          governmentFurther broken down into sections and clauses

          Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

          Clause oaths of office

          Article VII Ratification

          Structure of Constitution

          bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

          Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

          bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

          Activity

          Activity bull STEP 1 bull Fill in the graphic

          organizer in your guided notes packet You have 8 minutes on your own to do this

          bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

          Principle Explanation

          Popular Sovereignty Idea that people are the source of all power held by the government

          Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

          Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

          Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

          Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

          Federalism Divides the power between the central government and the States

          Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

          Question 1

          bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

          Popular Sovereignty

          Question 2

          bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

          Limited Government

          Question 3

          bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

          Limited Government

          Question 4

          bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

          SEPARATION OF POWERS

          Question 5

          bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

          Checks and Balances

          Question 6

          bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

          CHECKS AND BALANCES

          Question 7

          bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

          JUDICIAL REVIEW

          Question 8

          bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

          Federalism

          GroupsPopular

          SovereigntySeparation of

          PowersFederalism

          bull bull bull

          Judicial Review

          Limited Government

          Checks and Balances

          bull bull bull

          Separation of Powers

          bull Legislative branchmdashmakes the laws

          bull Executive branchmdashenforces the laws

          bull Judicial branchmdashinterprets the law

          Video

          bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

          Checks and Balances

          Checks and balances

          bullIn what was do the branches check on one another

          bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

          Basic Principles

          bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

          Self- Worth

          bull A recognition of the fundamental worth of every person

          bull The democratic process reflects the collective set of individuals who make up society

          Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

          bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

          bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

          Compromise

          bull A matter of compromise to determine the position most acceptable to the largest number of people

          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

          bullWhy is compromise important

          Individual Freedombull Right of the

          individual to be free as far as the freedom of all will allow

          bull Democracy does not and cannot insist on the absolute freedom of the individual person

          Write your ownhellipbull Now that you know what the foundations of

          government arehellip Create your own Constitution (Or social contract)

          What do you think is important to include What do you think could be taken out

          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

          Preamble (brief introduction) Articles (what should it include based on what we

          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

          change it)

          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

          paper

          TED Talk

          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

          Closure

          bullExplain two principles of the constitution and how are they connected

          What is Economics

          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

          Important Parts of Economicsndash

          CHOICESSCARCITY

          Economics ishellip

          bullDependent upon assumptions

          bullDependent upon simplification of reality

          Back to our assumptionshellip

          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

          bullAll sellers seek to maximize profits

          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

          For the videohellip

          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

          Post Videohellip

          bullDefine the main idea of the video in 4-5 words

          Advertisement

          bullKnowing some of the basics about what economics is and why we study ithellip

          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

          3 images that represent different economic ideas

          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

          1 slogan that represents why economics is an important course to take

          Political Cartoon Analysis

          Factors of Production bull LAND

          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

          soil minerals water and plants

          bull LABOR Also called Human Resources Includes physical and mental activities that go

          into producing goodsservices

          bull CAPITAL Includes tools machines buildings and

          technologies

          bull ENTREPRENEUR Risk taker who is responsible for combining

          land labor and capital to produce goods and services

          TASK

          bullTask Why are entrepreneurs the driving force in our economy

          bullAnswer in 2-3 sentences

          The price ofhellip

          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

          Economic efficiency is achieved when all available resources are being used

          All societies must answer three basic questions to satisfy the needs and wants of their populations

          1 What to produce

          bullShould it be military or civilian goods

          bullFood or clothingbullMedicine or movies

          2 How to produce it

          bullAutomated or manual labor

          bullExpensive or cheap materials

          bullDomestic or overseas labor

          3 For whom to produce it

          bullThe wealthy or the needybullThe sick or the healthy

          Application Activity

          bull In groups of 2-3 create your own country (name it please)

          bull With your countryrsquos name explain the Population geography and general population

          information (iehellipbull Choose 5 items for your country to produce and

          answer the three societal questions for eachALSO explain why this material would help your

          economy thrivereach economic efficiencybull Create an advertisement for your country

          withhellip Images representing what you produce and a

          slogan for why your country is awesome

          EQs

          bullHow does scarcity impact decision making

          Objectives amp Essential QuestionsbullObjectives

          I will be able to create and reflect on a budget given new economics content

          I will be able to understand scarcity and our mixed economy

          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

          Group Activity Budget Activity

          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

          How do we satisfy our economic wants

          bull We buy goods or services

          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

          bull Service ndash work done by someone else for which someone is willing to pay

          How do we make goods amp services

          bull Use Factors of Production - The productive resources that go into producing goods and services

          Production Equation

          LAND + LABOR + CAPITAL = GOODSERVICE

          inputs output

          Economic Interdependence

          bullWhat does lsquointerdependencersquo mean

          bullIs our world becoming economic interdependent or independent

          bullEconomic Interdependence the actions of one part of the

          country (world) has an impact on what happens elsewhere

          Wants amp Needs gt

          Resources

          Because of scarcity we

          have to make choices

          How do we make a choice What do we give up

          What does this remind you of from our government unit

          Making Choices to Deal With Scarcity

          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

          decision over another

          ExampleshellipbullSome choices are easy to makehellip

          HmmhellipShould I have pizza or a hoagie for lunch today

          bullOther decisions are agonizinghellipShould I get out of bed and go to

          school today or should I sleep in

          Task Reflecting on Personal Trade-offshellip

          In the end what helped you decide amongst your choices

          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

          tradeoffs for that decision

          Be prepared to share

          Opportunity Cost

          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

          Opportunity Cost ndash The best thing we give up to get what

          we want

          What else influences your choices

          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

          FinallyhellipWhy it Matters

          Understanding the opportunity coststradeoffs of different choices in life makes you a

          better decision-maker

          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

          You always have to give something uphelliprdquo

          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

          decisions

          Visualizing the Relationshiphellip

          Limited Resources amp Unlimited Wants

          Scarcity

          Trade-offs (choices)

          Opportunity Costs

          ObjectivesEssential Questions

          bullObjectivebullI will be able to understand (and teach)

          the three different types of economies

          bullEssential Question How do the different types of economies work

          How Can We Measure What We Gain and Lose When

          Making Choices

          Answer With a Production Possibilities Frontier

          Production Possibilities Frontier

          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

          PPF Assumptions

          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

          Production Possibilities Curve

          CD

          E

          OU

          TP

          UT

          OF

          CO

          NS

          UM

          ER

          GO

          OD

          S

          (un

          its

          per

          yea

          r)

          OUTPUT OF MILITARY GOODS (units per year)

          A

          BO

          XF

          G

          Limited resources necessitate choices about WHAT to produce

          The Choices Nations Make

          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

          bullProduce military goods or consumer goods

          Economic Growth

          2000 production possibilities

          1900 production possibilities

          OU

          TP

          UT

          OF

          CO

          NS

          UM

          ER

          GO

          OD

          S(u

          nits

          per

          yea

          r)

          OUTPUT OF MILITARY GOODS (units per year)

          Production possibilities increases with more resources and technology

          The Classic Guns and Butter example

          Guns

          Butter

          10000 20000 30000 40000 50000

          1000009500085000

          70000

          5000040000

          BA

          C

          D

          E

          F

          At point A all resources are used for butter

          Moving from point A to point B requires shifting resources out of butter and into guns

          At point F all resources are used for Guns

          Productivitybull A PPF can help us see how efficient our

          choices are

          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

          Locations on a PPF

          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

          Food

          Computer

          4

          3

          2

          1

          1 2 3 4

          OC between 1 and 2 computers = 1 Food

          UnitOC between 3 and 4 computers = 1 Food

          Unit

          Constantly giving up the same quantity of food to get

          additional computers

          STRAIGHT-LINE PPFs Constant OC

          BOWED-OUT PPFs VaryingIncreasing OC

          Principle of Increasing Costs

          As a society produces more of one product the OC of producing

          that product increases because we are using more resources that are poorly suited to produce it

          Economic Systems

          An economic system is the way a society coordinates the production and consumption of goods amp services

          How a society answers the three basic economic questions determines which type of economic system they are

          Three Types of Economic Systems Command Traditional Market

          Jigsaw activity

          bullYou will be placed in groups of 3 and assigned a type of economy

          bullYou will have 7 minutes to read and come up with 4 key components

          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

          Economic amp Social Goals of an Economic System

          bull Economic Freedom

          bull Economic Efficiency

          bull Economic Equity

          bull Economic Security

          Economic Stability

          Economic Growth

          Review of Economic Systems

          bullA traditional economy relies on custom and tradition to dictate production and consumption

          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

          bullIn a market economy individual producers and consumers coordinate economic activity

          What are the most important goals of each economic system

          bullTraditionalSecurity and

          StabilitybullCommand

          Equity and Security

          bullMARKETEfficiency and

          Freedom

          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

          at the expense of another (TRADEOFFS)

          Which economic system does the US use

          The American Economic System

          bullWe have a mixed market economy

          COMMAND MARKET

          The US mixed economybull In a mixed economyhellip

          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

          Think backhellip

          bullWhat does this remind you of from the beginning of the unit

          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

          2 Limited government

          3 Equal opportunity

          4 Competition

          5 Profit motive

          6 Property Rights

          7 Binding Contracts

          Understanding how all parts fit together

          Circular Flow of Economic Activity Represents a market economy

          2 main ldquomarketsrdquoProduct Market Factor Market

          where goods and services where the 4 factors ofare boughtsold production are boughtsold

          Shows interdependence between

          businesses and individuals

          Marriage Vowsbull CONGRATULATIONS The government and the economy

          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

          bull Using what you have learned this unit and using the textbook

          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

          Do you remember

          bullWrite the following question downbullWhy does the United States have a

          democracy and mixed economy

          • Foundations of Government and Economics
          • On your blank piece of paperhellip
          • Slide 3
          • Warm-Up 1 - 9414
          • Introductory thoughts hellip
          • Slide 6
          • 2 How about to your life
          • Slide 8
          • Slide 9
          • Slide 10
          • Slide 11
          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
          • Warm up 2bndash In Journal-
          • Economist and Politician Assumptions
          • Individualism
          • Quote activity
          • Quote breakdown
          • Warm Up 3- Current Event 9814
          • Purpose of Government
          • Slide 20
          • 3 Theorists
          • Activity
          • Origins of American Government A customized government
          • Origins of American Government A customized government (2)
          • Origins of American Government A customized government (3)
          • With which theory do you agree more Why
          • The ldquoOriginal Dilemmardquo
          • Warm Up 5 Hobbes and Locke
          • Groups Block 2
          • Groups Block 4
          • Balloon Game
          • You will have 10 minutes to get as many filled balloons on the
          • Balloon Game Debriefing
          • Political Theories
          • Social Contract
          • Natural Rights
          • Democracy
          • Concepts of Government
          • Warm up 6 ndash 91114
          • Warm Up 7
          • And after the Constitution
          • Activity (2)
          • Picture Activity
          • Constitutional Convention
          • Purpose of the Convention
          • VA Plan v NJ Plan
          • Virginia Plan ldquoLarge State Planrdquo
          • New Jersey Plan ldquoSmall State Planrdquo
          • Your Task
          • Closure
          • States agree
          • Quote
          • Structure of Constitution
          • Structure of Constitution
          • 6 Purpose of Government
          • Structure of Constitution (2)
          • Structure of Constitution (3)
          • Principles of Constitution
          • Activity
          • Slide 60
          • Check for Understanding Six Principles
          • Question 1
          • Question 2
          • Question 3
          • Question 4
          • Question 5
          • Question 6
          • Question 7
          • Question 8
          • Groups
          • Separation of Powers
          • Video
          • Checks and Balances
          • Slide 74
          • Checks and balances
          • Basic Principles
          • Self- Worth
          • Equality
          • Compromise
          • Individual Freedom
          • Write your ownhellip
          • Slide 82
          • TED Talk
          • Closure
          • What is Economics
          • Economics ishellip
          • Back to our assumptionshellip
          • Scarcity refers to the limited number of resources (factors of
          • For the videohellip
          • Slide 90
          • Post Videohellip
          • Advertisement
          • Political Cartoon Analysis
          • Factors of Production
          • TASK
          • The price ofhellip
          • Economic efficiency is achieved when all available resources ar
          • 1 What to produce
          • 2 How to produce it
          • 3 For whom to produce it
          • Application Activity
          • EQs
          • Objectives amp Essential Questions
          • Group Activity Budget Activity
          • Slide 105
          • How do we satisfy our economic wants
          • How do we make goods amp services
          • Economic Interdependence
          • Slide 109
          • Making Choices to Deal With Scarcity
          • Exampleshellip
          • Task Reflecting on Personal Trade-offshellip
          • Opportunity Cost
          • What else influences your choices
          • Finallyhellip Why it Matters
          • Visualizing the Relationshiphellip
          • ObjectivesEssential Questions
          • How Can We Measure What We Gain and Lose When Making Choices
          • Production Possibilities Frontier
          • PPF Assumptions
          • Slide 121
          • Production Possibilities Curve
          • The Choices Nations Make
          • Economic Growth
          • The Classic Guns and Butter example
          • Productivity
          • Locations on a PPF
          • Slide 128
          • BOWED-OUT PPFs VaryingIncreasing OC
          • Economic Systems
          • Jigsaw activity
          • Slide 132
          • Economic amp Social Goals of an Economic System
          • Review of Economic Systems
          • Slide 135
          • What are the most important goals of each economic system
          • Which economic system does the US use
          • The American Economic System
          • The US mixed economy
          • Slide 140
          • Think backhellip
          • US Economic System Characteristics
          • Slide 143
          • Understanding how all parts fit together
          • Marriage Vows
          • Do you remember
          • Slide 147

            2 How about to your life

            Relationship between economics amp government

            Make a List

            CaricaturesWhat are they

            a drawing that makes someone look funny or foolish because some part of the persons appearance is exaggerated

            Use of symbols or other items that represent an idea associated with the person or topic

            CARICATURES

            HOW WOULD YOU DRAWAMERICA AS A CARICATURE

            - Man or woman- Young or old- Fit or fat- Attractive or ugly- What symbols would come associated with it A

            truck A tank A hybrid

            On your paper draw America as you envision it as a caricature Must have color and at least two symbolsitemsaccessories

            No stick figures

            YOUR CARICATURE MUST

            - Have color

            - Be of America and how you view our country

            - Include symbolsitemsaccessories that represent how you view our country

            - Have a reasonable explanation for how it looks

            PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

            Warm Up -2a- 9514The New York Times and CBS News Pollhellip

            How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

            alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

            How can you link this poll to why it is important to study our government and economic system

            Warm up 2bndash In Journal-

            Economist and Politician Assumptions

            bull When studying humans people in politics and economics think abouthellip

            bull Self worth individuals have worth and value their lives

            bull Self interest people pursue their own interests to improve their lives

            bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

            bull Equilibrium Balance of competing forces

            Individualism

            bullWhat words do you associate with individualism

            bullOur definitionideology or social outlook that emphasizes

            the moral worth of the individual

            Quote activity

            bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

            sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

            your sheetbull You may then have 10 minutes to share

            your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

            Quote breakdown

            bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

            obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

            way it does not existrdquo

            bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

            societyrdquo ldquoAn individual has not started living until he can rise above the narrow

            confines of his individualistic concerns to the broader concerns of all humanityrdquo

            bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

            that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

            ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

            ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

            Warm Up 3- Current Event 9814

            bullTake a minute to write about a current event you have recently learned about within the past week

            Purpose of Government

            We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

            According to the Preamble what are the 6 purposes of our government

            Purpose of Government

            form a more perfect Union establish Justice the law must be

            reasonable fair and impartialinsure domestic Tranquility order is

            essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

            guarantee civil rights and liberties

            3 Theorists bullThree classical theorists believed in the

            need for government for different reasonsEach reason accepted the assumption that

            men are invested in their own self-interestbullHobbes Locke Rousseau

            ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

            governmentbullDecide which idea is a belief about the natural

            state of manbullBased on these ideas decide which quote

            belongs to which theoristbullExplain the quote in your own words and how

            it relates to each personrsquos beliefs about government and the natural state of man

            Origins of American Government A customized government

            bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

            Developed notion of social contract between rulers and their subjects

            Believed people were too selfish to govern themselves

            ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

            Origins of American Government A customized government

            bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

            Ideas helped lay foundations for democratic government

            Believed people formed governments to protect their rights and were innately good

            ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

            Origins of American Government A customized government

            bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

            Believed people were naturally good but corrupted and enslaved by society

            Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

            ldquoForce does not create right obedience is due to only legitimate powersrdquo

            With which theory do you agree more Why

            John Locke Thomas Hobbes

            The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

            purpose of government Government needs to attain power from the

            people in order to perform any functions

            CLOSURE How much power is too much How much

            liberty should be given up hellip bullThis represented a debated trade offhellip

            Clash of order and freedom= Original Dilemma

            Warm Up 5 Hobbes and Locke

            Hobbes

            Locke

            Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

            Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

            Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

            Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

            Group 4Mike KingChris ConteKarlyRyanKatieDJ

            Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

            Group 2JakeShawnKatieDrewWyattKatAshlyn

            Group 3JennaCeatonJeffLivSteveGarciaTom

            Group 4SuzetteJulianneAlekDanScottSpenserNick R

            Balloon Game Objective

            To be the team with the most filled balloons taped into the square on the board Rules

            1 No running 2 No touching classmates hellip that does

            not mean you canrsquot touch their balloons hellip

            3 No removal of balloons once they are taped to the board

            You will have less than 5 minutes to come up with a strategy in your group

            You will have 10 minutes to get as many filled balloons on the square as possible

            End

            >

            Balloon Game Debriefing What type of behavior did you see during the

            game

            List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

            Why do you think you needed more ldquorulesrdquo during

            this game

            How does this relate to this class How does it relate to the theorists

            Political Theories

            Force Theory small group forced

            all to submit to person andor grouprsquos rule

            Evolutionary Theory developed naturally out of the

            evolution of the family

            Divine Right held that God created the state

            and God had given those of royal birth

            ldquodivine rightrdquo to rule

            Social Contract argues that state arose out of a

            voluntary act of free people State exists only

            to serve the will of the people

            Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

            power to a government to protect them and serve their interests

            bullFree to remove that power at any timebullGovernment can only create laws when it

            has the consent of the governedbullExamples

            Natural Rightsbull Natural rights are ldquoinalienablerdquo and

            cannot be taken away by any one (government)

            bull Government exists to secure our natural rights and is based on the consent of those who are governed

            bull Idea of consent derived from social contract theory

            Democracybull A system of government in which in

            theory the people rule either directly or indirectly

            bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

            Concepts of Governmentbull Ordered governmentmdashneed for order

            bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

            bull Representative governmentmdashidea that government should serve the will of the people (democracy)

            Warm up 6 ndash 91114

            Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

            are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

            Warm Up 7

            bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

            And after the ConstitutionFederalism vs Anti-Federalism

            bullFederalists believed Favored ratification believed Constitution was

            strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

            bullAnti-Federalists believed Opposed ratification believed Constitution

            was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

            Activity

            bullEach of you will get a card it either has a termperson or a definition on it

            bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

            bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

            secret with your partner

            Picture Activity

            bullGallery Walk

            Constitutional Convention

            bullMet in Philadelphia in 1787

            bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

            bullThese men were collectively known as ldquoThe Framersrdquo

            Purpose of the ConventionbullInitial Purpose was to revise the Articles of

            Confederation bullDelegates quickly realized they were

            meeting to create a new government (with 3 branches)

            VA Plan v NJ Plan

            Several plans were proposed to correct the weaknesses of the Articles

            bullVirginia PlanbullNew Jersey Plan

            Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

            Virginia Plan ldquoLarge State Planrdquo

            bullStrong central govrsquotbullL Bicameral Congress

            Representation based on population

            bullE ldquoPresidentrdquo Chosen by Congress

            bullJ 1+ supreme courts with lower courtsChosen by Congress

            New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

            Each state would have = representationExpand power to tax amp regulate trade

            bullE Two-person presidencyChosen by Congress able to be removed

            bullJ Single Supreme CourtChosen by Executive

            Your Task

            Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

            them to choose your planUse catchy phrasesslogans and be sure to

            include the historical features of your plan (VA or NJ)

            At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

            Closure

            bullWhat do you think (or know) happens to these two plans

            States agreebull States agree to (ratify) the Constitution

            only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

            bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

            Quote

            bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

            bullWhat words stick to you in this quote Why

            Structure of Constitutionbull Provides basic

            framework for US government

            bull Outlines basic principles structure and processes

            bull Three partsmdashPreambleArticlesAmendments

            Structure of Constitution bull Preamble

            Introduction to the Constitution Lists ideas that the government should stand for

            and states purposes We the people of the United States in Order

            to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

            6 Purpose of Government bull Form a More Perfect Union

            bull Establish Justice bull Insure Domestic Tranquility

            bull Provide for the Common Defense

            bull Promote the General Welfare

            bull Secure the Blessings of Liberty

            For each phrase consider the followinghellip

            1 Why do you think the Framerrsquos put this phrase in the US Constitution

            2 Is this phrase important today

            Structure of Constitution bullArticles

            Main body of the Constitution Lay out basic structure of the national

            governmentFurther broken down into sections and clauses

            Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

            Clause oaths of office

            Article VII Ratification

            Structure of Constitution

            bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

            Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

            bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

            Activity

            Activity bull STEP 1 bull Fill in the graphic

            organizer in your guided notes packet You have 8 minutes on your own to do this

            bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

            Principle Explanation

            Popular Sovereignty Idea that people are the source of all power held by the government

            Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

            Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

            Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

            Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

            Federalism Divides the power between the central government and the States

            Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

            Question 1

            bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

            Popular Sovereignty

            Question 2

            bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

            Limited Government

            Question 3

            bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

            Limited Government

            Question 4

            bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

            SEPARATION OF POWERS

            Question 5

            bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

            Checks and Balances

            Question 6

            bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

            CHECKS AND BALANCES

            Question 7

            bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

            JUDICIAL REVIEW

            Question 8

            bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

            Federalism

            GroupsPopular

            SovereigntySeparation of

            PowersFederalism

            bull bull bull

            Judicial Review

            Limited Government

            Checks and Balances

            bull bull bull

            Separation of Powers

            bull Legislative branchmdashmakes the laws

            bull Executive branchmdashenforces the laws

            bull Judicial branchmdashinterprets the law

            Video

            bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

            Checks and Balances

            Checks and balances

            bullIn what was do the branches check on one another

            bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

            Basic Principles

            bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

            Self- Worth

            bull A recognition of the fundamental worth of every person

            bull The democratic process reflects the collective set of individuals who make up society

            Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

            bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

            bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

            Compromise

            bull A matter of compromise to determine the position most acceptable to the largest number of people

            bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

            bullWhy is compromise important

            Individual Freedombull Right of the

            individual to be free as far as the freedom of all will allow

            bull Democracy does not and cannot insist on the absolute freedom of the individual person

            Write your ownhellipbull Now that you know what the foundations of

            government arehellip Create your own Constitution (Or social contract)

            What do you think is important to include What do you think could be taken out

            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

            Preamble (brief introduction) Articles (what should it include based on what we

            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

            change it)

            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

            paper

            TED Talk

            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

            Closure

            bullExplain two principles of the constitution and how are they connected

            What is Economics

            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

            Important Parts of Economicsndash

            CHOICESSCARCITY

            Economics ishellip

            bullDependent upon assumptions

            bullDependent upon simplification of reality

            Back to our assumptionshellip

            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

            bullAll sellers seek to maximize profits

            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

            For the videohellip

            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

            Post Videohellip

            bullDefine the main idea of the video in 4-5 words

            Advertisement

            bullKnowing some of the basics about what economics is and why we study ithellip

            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

            3 images that represent different economic ideas

            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

            1 slogan that represents why economics is an important course to take

            Political Cartoon Analysis

            Factors of Production bull LAND

            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

            soil minerals water and plants

            bull LABOR Also called Human Resources Includes physical and mental activities that go

            into producing goodsservices

            bull CAPITAL Includes tools machines buildings and

            technologies

            bull ENTREPRENEUR Risk taker who is responsible for combining

            land labor and capital to produce goods and services

            TASK

            bullTask Why are entrepreneurs the driving force in our economy

            bullAnswer in 2-3 sentences

            The price ofhellip

            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

            Economic efficiency is achieved when all available resources are being used

            All societies must answer three basic questions to satisfy the needs and wants of their populations

            1 What to produce

            bullShould it be military or civilian goods

            bullFood or clothingbullMedicine or movies

            2 How to produce it

            bullAutomated or manual labor

            bullExpensive or cheap materials

            bullDomestic or overseas labor

            3 For whom to produce it

            bullThe wealthy or the needybullThe sick or the healthy

            Application Activity

            bull In groups of 2-3 create your own country (name it please)

            bull With your countryrsquos name explain the Population geography and general population

            information (iehellipbull Choose 5 items for your country to produce and

            answer the three societal questions for eachALSO explain why this material would help your

            economy thrivereach economic efficiencybull Create an advertisement for your country

            withhellip Images representing what you produce and a

            slogan for why your country is awesome

            EQs

            bullHow does scarcity impact decision making

            Objectives amp Essential QuestionsbullObjectives

            I will be able to create and reflect on a budget given new economics content

            I will be able to understand scarcity and our mixed economy

            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

            Group Activity Budget Activity

            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

            How do we satisfy our economic wants

            bull We buy goods or services

            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

            bull Service ndash work done by someone else for which someone is willing to pay

            How do we make goods amp services

            bull Use Factors of Production - The productive resources that go into producing goods and services

            Production Equation

            LAND + LABOR + CAPITAL = GOODSERVICE

            inputs output

            Economic Interdependence

            bullWhat does lsquointerdependencersquo mean

            bullIs our world becoming economic interdependent or independent

            bullEconomic Interdependence the actions of one part of the

            country (world) has an impact on what happens elsewhere

            Wants amp Needs gt

            Resources

            Because of scarcity we

            have to make choices

            How do we make a choice What do we give up

            What does this remind you of from our government unit

            Making Choices to Deal With Scarcity

            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

            decision over another

            ExampleshellipbullSome choices are easy to makehellip

            HmmhellipShould I have pizza or a hoagie for lunch today

            bullOther decisions are agonizinghellipShould I get out of bed and go to

            school today or should I sleep in

            Task Reflecting on Personal Trade-offshellip

            In the end what helped you decide amongst your choices

            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

            tradeoffs for that decision

            Be prepared to share

            Opportunity Cost

            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

            Opportunity Cost ndash The best thing we give up to get what

            we want

            What else influences your choices

            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

            FinallyhellipWhy it Matters

            Understanding the opportunity coststradeoffs of different choices in life makes you a

            better decision-maker

            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

            You always have to give something uphelliprdquo

            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

            decisions

            Visualizing the Relationshiphellip

            Limited Resources amp Unlimited Wants

            Scarcity

            Trade-offs (choices)

            Opportunity Costs

            ObjectivesEssential Questions

            bullObjectivebullI will be able to understand (and teach)

            the three different types of economies

            bullEssential Question How do the different types of economies work

            How Can We Measure What We Gain and Lose When

            Making Choices

            Answer With a Production Possibilities Frontier

            Production Possibilities Frontier

            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

            PPF Assumptions

            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

            Production Possibilities Curve

            CD

            E

            OU

            TP

            UT

            OF

            CO

            NS

            UM

            ER

            GO

            OD

            S

            (un

            its

            per

            yea

            r)

            OUTPUT OF MILITARY GOODS (units per year)

            A

            BO

            XF

            G

            Limited resources necessitate choices about WHAT to produce

            The Choices Nations Make

            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

            bullProduce military goods or consumer goods

            Economic Growth

            2000 production possibilities

            1900 production possibilities

            OU

            TP

            UT

            OF

            CO

            NS

            UM

            ER

            GO

            OD

            S(u

            nits

            per

            yea

            r)

            OUTPUT OF MILITARY GOODS (units per year)

            Production possibilities increases with more resources and technology

            The Classic Guns and Butter example

            Guns

            Butter

            10000 20000 30000 40000 50000

            1000009500085000

            70000

            5000040000

            BA

            C

            D

            E

            F

            At point A all resources are used for butter

            Moving from point A to point B requires shifting resources out of butter and into guns

            At point F all resources are used for Guns

            Productivitybull A PPF can help us see how efficient our

            choices are

            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

            Locations on a PPF

            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

            Food

            Computer

            4

            3

            2

            1

            1 2 3 4

            OC between 1 and 2 computers = 1 Food

            UnitOC between 3 and 4 computers = 1 Food

            Unit

            Constantly giving up the same quantity of food to get

            additional computers

            STRAIGHT-LINE PPFs Constant OC

            BOWED-OUT PPFs VaryingIncreasing OC

            Principle of Increasing Costs

            As a society produces more of one product the OC of producing

            that product increases because we are using more resources that are poorly suited to produce it

            Economic Systems

            An economic system is the way a society coordinates the production and consumption of goods amp services

            How a society answers the three basic economic questions determines which type of economic system they are

            Three Types of Economic Systems Command Traditional Market

            Jigsaw activity

            bullYou will be placed in groups of 3 and assigned a type of economy

            bullYou will have 7 minutes to read and come up with 4 key components

            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

            Economic amp Social Goals of an Economic System

            bull Economic Freedom

            bull Economic Efficiency

            bull Economic Equity

            bull Economic Security

            Economic Stability

            Economic Growth

            Review of Economic Systems

            bullA traditional economy relies on custom and tradition to dictate production and consumption

            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

            bullIn a market economy individual producers and consumers coordinate economic activity

            What are the most important goals of each economic system

            bullTraditionalSecurity and

            StabilitybullCommand

            Equity and Security

            bullMARKETEfficiency and

            Freedom

            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

            at the expense of another (TRADEOFFS)

            Which economic system does the US use

            The American Economic System

            bullWe have a mixed market economy

            COMMAND MARKET

            The US mixed economybull In a mixed economyhellip

            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

            Think backhellip

            bullWhat does this remind you of from the beginning of the unit

            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

            2 Limited government

            3 Equal opportunity

            4 Competition

            5 Profit motive

            6 Property Rights

            7 Binding Contracts

            Understanding how all parts fit together

            Circular Flow of Economic Activity Represents a market economy

            2 main ldquomarketsrdquoProduct Market Factor Market

            where goods and services where the 4 factors ofare boughtsold production are boughtsold

            Shows interdependence between

            businesses and individuals

            Marriage Vowsbull CONGRATULATIONS The government and the economy

            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

            bull Using what you have learned this unit and using the textbook

            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

            Do you remember

            bullWrite the following question downbullWhy does the United States have a

            democracy and mixed economy

            • Foundations of Government and Economics
            • On your blank piece of paperhellip
            • Slide 3
            • Warm-Up 1 - 9414
            • Introductory thoughts hellip
            • Slide 6
            • 2 How about to your life
            • Slide 8
            • Slide 9
            • Slide 10
            • Slide 11
            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
            • Warm up 2bndash In Journal-
            • Economist and Politician Assumptions
            • Individualism
            • Quote activity
            • Quote breakdown
            • Warm Up 3- Current Event 9814
            • Purpose of Government
            • Slide 20
            • 3 Theorists
            • Activity
            • Origins of American Government A customized government
            • Origins of American Government A customized government (2)
            • Origins of American Government A customized government (3)
            • With which theory do you agree more Why
            • The ldquoOriginal Dilemmardquo
            • Warm Up 5 Hobbes and Locke
            • Groups Block 2
            • Groups Block 4
            • Balloon Game
            • You will have 10 minutes to get as many filled balloons on the
            • Balloon Game Debriefing
            • Political Theories
            • Social Contract
            • Natural Rights
            • Democracy
            • Concepts of Government
            • Warm up 6 ndash 91114
            • Warm Up 7
            • And after the Constitution
            • Activity (2)
            • Picture Activity
            • Constitutional Convention
            • Purpose of the Convention
            • VA Plan v NJ Plan
            • Virginia Plan ldquoLarge State Planrdquo
            • New Jersey Plan ldquoSmall State Planrdquo
            • Your Task
            • Closure
            • States agree
            • Quote
            • Structure of Constitution
            • Structure of Constitution
            • 6 Purpose of Government
            • Structure of Constitution (2)
            • Structure of Constitution (3)
            • Principles of Constitution
            • Activity
            • Slide 60
            • Check for Understanding Six Principles
            • Question 1
            • Question 2
            • Question 3
            • Question 4
            • Question 5
            • Question 6
            • Question 7
            • Question 8
            • Groups
            • Separation of Powers
            • Video
            • Checks and Balances
            • Slide 74
            • Checks and balances
            • Basic Principles
            • Self- Worth
            • Equality
            • Compromise
            • Individual Freedom
            • Write your ownhellip
            • Slide 82
            • TED Talk
            • Closure
            • What is Economics
            • Economics ishellip
            • Back to our assumptionshellip
            • Scarcity refers to the limited number of resources (factors of
            • For the videohellip
            • Slide 90
            • Post Videohellip
            • Advertisement
            • Political Cartoon Analysis
            • Factors of Production
            • TASK
            • The price ofhellip
            • Economic efficiency is achieved when all available resources ar
            • 1 What to produce
            • 2 How to produce it
            • 3 For whom to produce it
            • Application Activity
            • EQs
            • Objectives amp Essential Questions
            • Group Activity Budget Activity
            • Slide 105
            • How do we satisfy our economic wants
            • How do we make goods amp services
            • Economic Interdependence
            • Slide 109
            • Making Choices to Deal With Scarcity
            • Exampleshellip
            • Task Reflecting on Personal Trade-offshellip
            • Opportunity Cost
            • What else influences your choices
            • Finallyhellip Why it Matters
            • Visualizing the Relationshiphellip
            • ObjectivesEssential Questions
            • How Can We Measure What We Gain and Lose When Making Choices
            • Production Possibilities Frontier
            • PPF Assumptions
            • Slide 121
            • Production Possibilities Curve
            • The Choices Nations Make
            • Economic Growth
            • The Classic Guns and Butter example
            • Productivity
            • Locations on a PPF
            • Slide 128
            • BOWED-OUT PPFs VaryingIncreasing OC
            • Economic Systems
            • Jigsaw activity
            • Slide 132
            • Economic amp Social Goals of an Economic System
            • Review of Economic Systems
            • Slide 135
            • What are the most important goals of each economic system
            • Which economic system does the US use
            • The American Economic System
            • The US mixed economy
            • Slide 140
            • Think backhellip
            • US Economic System Characteristics
            • Slide 143
            • Understanding how all parts fit together
            • Marriage Vows
            • Do you remember
            • Slide 147

              CaricaturesWhat are they

              a drawing that makes someone look funny or foolish because some part of the persons appearance is exaggerated

              Use of symbols or other items that represent an idea associated with the person or topic

              CARICATURES

              HOW WOULD YOU DRAWAMERICA AS A CARICATURE

              - Man or woman- Young or old- Fit or fat- Attractive or ugly- What symbols would come associated with it A

              truck A tank A hybrid

              On your paper draw America as you envision it as a caricature Must have color and at least two symbolsitemsaccessories

              No stick figures

              YOUR CARICATURE MUST

              - Have color

              - Be of America and how you view our country

              - Include symbolsitemsaccessories that represent how you view our country

              - Have a reasonable explanation for how it looks

              PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

              Warm Up -2a- 9514The New York Times and CBS News Pollhellip

              How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

              alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

              How can you link this poll to why it is important to study our government and economic system

              Warm up 2bndash In Journal-

              Economist and Politician Assumptions

              bull When studying humans people in politics and economics think abouthellip

              bull Self worth individuals have worth and value their lives

              bull Self interest people pursue their own interests to improve their lives

              bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

              bull Equilibrium Balance of competing forces

              Individualism

              bullWhat words do you associate with individualism

              bullOur definitionideology or social outlook that emphasizes

              the moral worth of the individual

              Quote activity

              bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

              sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

              your sheetbull You may then have 10 minutes to share

              your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

              Quote breakdown

              bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

              obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

              way it does not existrdquo

              bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

              societyrdquo ldquoAn individual has not started living until he can rise above the narrow

              confines of his individualistic concerns to the broader concerns of all humanityrdquo

              bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

              that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

              ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

              ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

              Warm Up 3- Current Event 9814

              bullTake a minute to write about a current event you have recently learned about within the past week

              Purpose of Government

              We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

              According to the Preamble what are the 6 purposes of our government

              Purpose of Government

              form a more perfect Union establish Justice the law must be

              reasonable fair and impartialinsure domestic Tranquility order is

              essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

              guarantee civil rights and liberties

              3 Theorists bullThree classical theorists believed in the

              need for government for different reasonsEach reason accepted the assumption that

              men are invested in their own self-interestbullHobbes Locke Rousseau

              ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

              governmentbullDecide which idea is a belief about the natural

              state of manbullBased on these ideas decide which quote

              belongs to which theoristbullExplain the quote in your own words and how

              it relates to each personrsquos beliefs about government and the natural state of man

              Origins of American Government A customized government

              bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

              Developed notion of social contract between rulers and their subjects

              Believed people were too selfish to govern themselves

              ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

              Origins of American Government A customized government

              bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

              Ideas helped lay foundations for democratic government

              Believed people formed governments to protect their rights and were innately good

              ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

              Origins of American Government A customized government

              bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

              Believed people were naturally good but corrupted and enslaved by society

              Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

              ldquoForce does not create right obedience is due to only legitimate powersrdquo

              With which theory do you agree more Why

              John Locke Thomas Hobbes

              The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

              purpose of government Government needs to attain power from the

              people in order to perform any functions

              CLOSURE How much power is too much How much

              liberty should be given up hellip bullThis represented a debated trade offhellip

              Clash of order and freedom= Original Dilemma

              Warm Up 5 Hobbes and Locke

              Hobbes

              Locke

              Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

              Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

              Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

              Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

              Group 4Mike KingChris ConteKarlyRyanKatieDJ

              Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

              Group 2JakeShawnKatieDrewWyattKatAshlyn

              Group 3JennaCeatonJeffLivSteveGarciaTom

              Group 4SuzetteJulianneAlekDanScottSpenserNick R

              Balloon Game Objective

              To be the team with the most filled balloons taped into the square on the board Rules

              1 No running 2 No touching classmates hellip that does

              not mean you canrsquot touch their balloons hellip

              3 No removal of balloons once they are taped to the board

              You will have less than 5 minutes to come up with a strategy in your group

              You will have 10 minutes to get as many filled balloons on the square as possible

              End

              >

              Balloon Game Debriefing What type of behavior did you see during the

              game

              List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

              Why do you think you needed more ldquorulesrdquo during

              this game

              How does this relate to this class How does it relate to the theorists

              Political Theories

              Force Theory small group forced

              all to submit to person andor grouprsquos rule

              Evolutionary Theory developed naturally out of the

              evolution of the family

              Divine Right held that God created the state

              and God had given those of royal birth

              ldquodivine rightrdquo to rule

              Social Contract argues that state arose out of a

              voluntary act of free people State exists only

              to serve the will of the people

              Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

              power to a government to protect them and serve their interests

              bullFree to remove that power at any timebullGovernment can only create laws when it

              has the consent of the governedbullExamples

              Natural Rightsbull Natural rights are ldquoinalienablerdquo and

              cannot be taken away by any one (government)

              bull Government exists to secure our natural rights and is based on the consent of those who are governed

              bull Idea of consent derived from social contract theory

              Democracybull A system of government in which in

              theory the people rule either directly or indirectly

              bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

              Concepts of Governmentbull Ordered governmentmdashneed for order

              bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

              bull Representative governmentmdashidea that government should serve the will of the people (democracy)

              Warm up 6 ndash 91114

              Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

              are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

              Warm Up 7

              bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

              And after the ConstitutionFederalism vs Anti-Federalism

              bullFederalists believed Favored ratification believed Constitution was

              strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

              bullAnti-Federalists believed Opposed ratification believed Constitution

              was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

              Activity

              bullEach of you will get a card it either has a termperson or a definition on it

              bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

              bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

              secret with your partner

              Picture Activity

              bullGallery Walk

              Constitutional Convention

              bullMet in Philadelphia in 1787

              bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

              bullThese men were collectively known as ldquoThe Framersrdquo

              Purpose of the ConventionbullInitial Purpose was to revise the Articles of

              Confederation bullDelegates quickly realized they were

              meeting to create a new government (with 3 branches)

              VA Plan v NJ Plan

              Several plans were proposed to correct the weaknesses of the Articles

              bullVirginia PlanbullNew Jersey Plan

              Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

              Virginia Plan ldquoLarge State Planrdquo

              bullStrong central govrsquotbullL Bicameral Congress

              Representation based on population

              bullE ldquoPresidentrdquo Chosen by Congress

              bullJ 1+ supreme courts with lower courtsChosen by Congress

              New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

              Each state would have = representationExpand power to tax amp regulate trade

              bullE Two-person presidencyChosen by Congress able to be removed

              bullJ Single Supreme CourtChosen by Executive

              Your Task

              Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

              them to choose your planUse catchy phrasesslogans and be sure to

              include the historical features of your plan (VA or NJ)

              At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

              Closure

              bullWhat do you think (or know) happens to these two plans

              States agreebull States agree to (ratify) the Constitution

              only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

              bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

              Quote

              bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

              bullWhat words stick to you in this quote Why

              Structure of Constitutionbull Provides basic

              framework for US government

              bull Outlines basic principles structure and processes

              bull Three partsmdashPreambleArticlesAmendments

              Structure of Constitution bull Preamble

              Introduction to the Constitution Lists ideas that the government should stand for

              and states purposes We the people of the United States in Order

              to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

              6 Purpose of Government bull Form a More Perfect Union

              bull Establish Justice bull Insure Domestic Tranquility

              bull Provide for the Common Defense

              bull Promote the General Welfare

              bull Secure the Blessings of Liberty

              For each phrase consider the followinghellip

              1 Why do you think the Framerrsquos put this phrase in the US Constitution

              2 Is this phrase important today

              Structure of Constitution bullArticles

              Main body of the Constitution Lay out basic structure of the national

              governmentFurther broken down into sections and clauses

              Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

              Clause oaths of office

              Article VII Ratification

              Structure of Constitution

              bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

              Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

              bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

              Activity

              Activity bull STEP 1 bull Fill in the graphic

              organizer in your guided notes packet You have 8 minutes on your own to do this

              bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

              Principle Explanation

              Popular Sovereignty Idea that people are the source of all power held by the government

              Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

              Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

              Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

              Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

              Federalism Divides the power between the central government and the States

              Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

              Question 1

              bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

              Popular Sovereignty

              Question 2

              bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

              Limited Government

              Question 3

              bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

              Limited Government

              Question 4

              bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

              SEPARATION OF POWERS

              Question 5

              bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

              Checks and Balances

              Question 6

              bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

              CHECKS AND BALANCES

              Question 7

              bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

              JUDICIAL REVIEW

              Question 8

              bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

              Federalism

              GroupsPopular

              SovereigntySeparation of

              PowersFederalism

              bull bull bull

              Judicial Review

              Limited Government

              Checks and Balances

              bull bull bull

              Separation of Powers

              bull Legislative branchmdashmakes the laws

              bull Executive branchmdashenforces the laws

              bull Judicial branchmdashinterprets the law

              Video

              bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

              Checks and Balances

              Checks and balances

              bullIn what was do the branches check on one another

              bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

              Basic Principles

              bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

              Self- Worth

              bull A recognition of the fundamental worth of every person

              bull The democratic process reflects the collective set of individuals who make up society

              Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

              bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

              bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

              Compromise

              bull A matter of compromise to determine the position most acceptable to the largest number of people

              bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

              bullWhy is compromise important

              Individual Freedombull Right of the

              individual to be free as far as the freedom of all will allow

              bull Democracy does not and cannot insist on the absolute freedom of the individual person

              Write your ownhellipbull Now that you know what the foundations of

              government arehellip Create your own Constitution (Or social contract)

              What do you think is important to include What do you think could be taken out

              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

              Preamble (brief introduction) Articles (what should it include based on what we

              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

              change it)

              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

              paper

              TED Talk

              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

              Closure

              bullExplain two principles of the constitution and how are they connected

              What is Economics

              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

              Important Parts of Economicsndash

              CHOICESSCARCITY

              Economics ishellip

              bullDependent upon assumptions

              bullDependent upon simplification of reality

              Back to our assumptionshellip

              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

              bullAll sellers seek to maximize profits

              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

              For the videohellip

              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

              Post Videohellip

              bullDefine the main idea of the video in 4-5 words

              Advertisement

              bullKnowing some of the basics about what economics is and why we study ithellip

              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

              3 images that represent different economic ideas

              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

              1 slogan that represents why economics is an important course to take

              Political Cartoon Analysis

              Factors of Production bull LAND

              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

              soil minerals water and plants

              bull LABOR Also called Human Resources Includes physical and mental activities that go

              into producing goodsservices

              bull CAPITAL Includes tools machines buildings and

              technologies

              bull ENTREPRENEUR Risk taker who is responsible for combining

              land labor and capital to produce goods and services

              TASK

              bullTask Why are entrepreneurs the driving force in our economy

              bullAnswer in 2-3 sentences

              The price ofhellip

              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

              Economic efficiency is achieved when all available resources are being used

              All societies must answer three basic questions to satisfy the needs and wants of their populations

              1 What to produce

              bullShould it be military or civilian goods

              bullFood or clothingbullMedicine or movies

              2 How to produce it

              bullAutomated or manual labor

              bullExpensive or cheap materials

              bullDomestic or overseas labor

              3 For whom to produce it

              bullThe wealthy or the needybullThe sick or the healthy

              Application Activity

              bull In groups of 2-3 create your own country (name it please)

              bull With your countryrsquos name explain the Population geography and general population

              information (iehellipbull Choose 5 items for your country to produce and

              answer the three societal questions for eachALSO explain why this material would help your

              economy thrivereach economic efficiencybull Create an advertisement for your country

              withhellip Images representing what you produce and a

              slogan for why your country is awesome

              EQs

              bullHow does scarcity impact decision making

              Objectives amp Essential QuestionsbullObjectives

              I will be able to create and reflect on a budget given new economics content

              I will be able to understand scarcity and our mixed economy

              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

              Group Activity Budget Activity

              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

              How do we satisfy our economic wants

              bull We buy goods or services

              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

              bull Service ndash work done by someone else for which someone is willing to pay

              How do we make goods amp services

              bull Use Factors of Production - The productive resources that go into producing goods and services

              Production Equation

              LAND + LABOR + CAPITAL = GOODSERVICE

              inputs output

              Economic Interdependence

              bullWhat does lsquointerdependencersquo mean

              bullIs our world becoming economic interdependent or independent

              bullEconomic Interdependence the actions of one part of the

              country (world) has an impact on what happens elsewhere

              Wants amp Needs gt

              Resources

              Because of scarcity we

              have to make choices

              How do we make a choice What do we give up

              What does this remind you of from our government unit

              Making Choices to Deal With Scarcity

              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

              decision over another

              ExampleshellipbullSome choices are easy to makehellip

              HmmhellipShould I have pizza or a hoagie for lunch today

              bullOther decisions are agonizinghellipShould I get out of bed and go to

              school today or should I sleep in

              Task Reflecting on Personal Trade-offshellip

              In the end what helped you decide amongst your choices

              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

              tradeoffs for that decision

              Be prepared to share

              Opportunity Cost

              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

              Opportunity Cost ndash The best thing we give up to get what

              we want

              What else influences your choices

              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

              FinallyhellipWhy it Matters

              Understanding the opportunity coststradeoffs of different choices in life makes you a

              better decision-maker

              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

              You always have to give something uphelliprdquo

              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

              decisions

              Visualizing the Relationshiphellip

              Limited Resources amp Unlimited Wants

              Scarcity

              Trade-offs (choices)

              Opportunity Costs

              ObjectivesEssential Questions

              bullObjectivebullI will be able to understand (and teach)

              the three different types of economies

              bullEssential Question How do the different types of economies work

              How Can We Measure What We Gain and Lose When

              Making Choices

              Answer With a Production Possibilities Frontier

              Production Possibilities Frontier

              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

              PPF Assumptions

              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

              Production Possibilities Curve

              CD

              E

              OU

              TP

              UT

              OF

              CO

              NS

              UM

              ER

              GO

              OD

              S

              (un

              its

              per

              yea

              r)

              OUTPUT OF MILITARY GOODS (units per year)

              A

              BO

              XF

              G

              Limited resources necessitate choices about WHAT to produce

              The Choices Nations Make

              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

              bullProduce military goods or consumer goods

              Economic Growth

              2000 production possibilities

              1900 production possibilities

              OU

              TP

              UT

              OF

              CO

              NS

              UM

              ER

              GO

              OD

              S(u

              nits

              per

              yea

              r)

              OUTPUT OF MILITARY GOODS (units per year)

              Production possibilities increases with more resources and technology

              The Classic Guns and Butter example

              Guns

              Butter

              10000 20000 30000 40000 50000

              1000009500085000

              70000

              5000040000

              BA

              C

              D

              E

              F

              At point A all resources are used for butter

              Moving from point A to point B requires shifting resources out of butter and into guns

              At point F all resources are used for Guns

              Productivitybull A PPF can help us see how efficient our

              choices are

              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

              Locations on a PPF

              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

              Food

              Computer

              4

              3

              2

              1

              1 2 3 4

              OC between 1 and 2 computers = 1 Food

              UnitOC between 3 and 4 computers = 1 Food

              Unit

              Constantly giving up the same quantity of food to get

              additional computers

              STRAIGHT-LINE PPFs Constant OC

              BOWED-OUT PPFs VaryingIncreasing OC

              Principle of Increasing Costs

              As a society produces more of one product the OC of producing

              that product increases because we are using more resources that are poorly suited to produce it

              Economic Systems

              An economic system is the way a society coordinates the production and consumption of goods amp services

              How a society answers the three basic economic questions determines which type of economic system they are

              Three Types of Economic Systems Command Traditional Market

              Jigsaw activity

              bullYou will be placed in groups of 3 and assigned a type of economy

              bullYou will have 7 minutes to read and come up with 4 key components

              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

              Economic amp Social Goals of an Economic System

              bull Economic Freedom

              bull Economic Efficiency

              bull Economic Equity

              bull Economic Security

              Economic Stability

              Economic Growth

              Review of Economic Systems

              bullA traditional economy relies on custom and tradition to dictate production and consumption

              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

              bullIn a market economy individual producers and consumers coordinate economic activity

              What are the most important goals of each economic system

              bullTraditionalSecurity and

              StabilitybullCommand

              Equity and Security

              bullMARKETEfficiency and

              Freedom

              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

              at the expense of another (TRADEOFFS)

              Which economic system does the US use

              The American Economic System

              bullWe have a mixed market economy

              COMMAND MARKET

              The US mixed economybull In a mixed economyhellip

              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

              Think backhellip

              bullWhat does this remind you of from the beginning of the unit

              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

              2 Limited government

              3 Equal opportunity

              4 Competition

              5 Profit motive

              6 Property Rights

              7 Binding Contracts

              Understanding how all parts fit together

              Circular Flow of Economic Activity Represents a market economy

              2 main ldquomarketsrdquoProduct Market Factor Market

              where goods and services where the 4 factors ofare boughtsold production are boughtsold

              Shows interdependence between

              businesses and individuals

              Marriage Vowsbull CONGRATULATIONS The government and the economy

              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

              bull Using what you have learned this unit and using the textbook

              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

              Do you remember

              bullWrite the following question downbullWhy does the United States have a

              democracy and mixed economy

              • Foundations of Government and Economics
              • On your blank piece of paperhellip
              • Slide 3
              • Warm-Up 1 - 9414
              • Introductory thoughts hellip
              • Slide 6
              • 2 How about to your life
              • Slide 8
              • Slide 9
              • Slide 10
              • Slide 11
              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
              • Warm up 2bndash In Journal-
              • Economist and Politician Assumptions
              • Individualism
              • Quote activity
              • Quote breakdown
              • Warm Up 3- Current Event 9814
              • Purpose of Government
              • Slide 20
              • 3 Theorists
              • Activity
              • Origins of American Government A customized government
              • Origins of American Government A customized government (2)
              • Origins of American Government A customized government (3)
              • With which theory do you agree more Why
              • The ldquoOriginal Dilemmardquo
              • Warm Up 5 Hobbes and Locke
              • Groups Block 2
              • Groups Block 4
              • Balloon Game
              • You will have 10 minutes to get as many filled balloons on the
              • Balloon Game Debriefing
              • Political Theories
              • Social Contract
              • Natural Rights
              • Democracy
              • Concepts of Government
              • Warm up 6 ndash 91114
              • Warm Up 7
              • And after the Constitution
              • Activity (2)
              • Picture Activity
              • Constitutional Convention
              • Purpose of the Convention
              • VA Plan v NJ Plan
              • Virginia Plan ldquoLarge State Planrdquo
              • New Jersey Plan ldquoSmall State Planrdquo
              • Your Task
              • Closure
              • States agree
              • Quote
              • Structure of Constitution
              • Structure of Constitution
              • 6 Purpose of Government
              • Structure of Constitution (2)
              • Structure of Constitution (3)
              • Principles of Constitution
              • Activity
              • Slide 60
              • Check for Understanding Six Principles
              • Question 1
              • Question 2
              • Question 3
              • Question 4
              • Question 5
              • Question 6
              • Question 7
              • Question 8
              • Groups
              • Separation of Powers
              • Video
              • Checks and Balances
              • Slide 74
              • Checks and balances
              • Basic Principles
              • Self- Worth
              • Equality
              • Compromise
              • Individual Freedom
              • Write your ownhellip
              • Slide 82
              • TED Talk
              • Closure
              • What is Economics
              • Economics ishellip
              • Back to our assumptionshellip
              • Scarcity refers to the limited number of resources (factors of
              • For the videohellip
              • Slide 90
              • Post Videohellip
              • Advertisement
              • Political Cartoon Analysis
              • Factors of Production
              • TASK
              • The price ofhellip
              • Economic efficiency is achieved when all available resources ar
              • 1 What to produce
              • 2 How to produce it
              • 3 For whom to produce it
              • Application Activity
              • EQs
              • Objectives amp Essential Questions
              • Group Activity Budget Activity
              • Slide 105
              • How do we satisfy our economic wants
              • How do we make goods amp services
              • Economic Interdependence
              • Slide 109
              • Making Choices to Deal With Scarcity
              • Exampleshellip
              • Task Reflecting on Personal Trade-offshellip
              • Opportunity Cost
              • What else influences your choices
              • Finallyhellip Why it Matters
              • Visualizing the Relationshiphellip
              • ObjectivesEssential Questions
              • How Can We Measure What We Gain and Lose When Making Choices
              • Production Possibilities Frontier
              • PPF Assumptions
              • Slide 121
              • Production Possibilities Curve
              • The Choices Nations Make
              • Economic Growth
              • The Classic Guns and Butter example
              • Productivity
              • Locations on a PPF
              • Slide 128
              • BOWED-OUT PPFs VaryingIncreasing OC
              • Economic Systems
              • Jigsaw activity
              • Slide 132
              • Economic amp Social Goals of an Economic System
              • Review of Economic Systems
              • Slide 135
              • What are the most important goals of each economic system
              • Which economic system does the US use
              • The American Economic System
              • The US mixed economy
              • Slide 140
              • Think backhellip
              • US Economic System Characteristics
              • Slide 143
              • Understanding how all parts fit together
              • Marriage Vows
              • Do you remember
              • Slide 147

                Use of symbols or other items that represent an idea associated with the person or topic

                CARICATURES

                HOW WOULD YOU DRAWAMERICA AS A CARICATURE

                - Man or woman- Young or old- Fit or fat- Attractive or ugly- What symbols would come associated with it A

                truck A tank A hybrid

                On your paper draw America as you envision it as a caricature Must have color and at least two symbolsitemsaccessories

                No stick figures

                YOUR CARICATURE MUST

                - Have color

                - Be of America and how you view our country

                - Include symbolsitemsaccessories that represent how you view our country

                - Have a reasonable explanation for how it looks

                PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

                Warm Up -2a- 9514The New York Times and CBS News Pollhellip

                How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

                alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

                How can you link this poll to why it is important to study our government and economic system

                Warm up 2bndash In Journal-

                Economist and Politician Assumptions

                bull When studying humans people in politics and economics think abouthellip

                bull Self worth individuals have worth and value their lives

                bull Self interest people pursue their own interests to improve their lives

                bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

                bull Equilibrium Balance of competing forces

                Individualism

                bullWhat words do you associate with individualism

                bullOur definitionideology or social outlook that emphasizes

                the moral worth of the individual

                Quote activity

                bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

                sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

                your sheetbull You may then have 10 minutes to share

                your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

                Quote breakdown

                bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

                obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

                way it does not existrdquo

                bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

                societyrdquo ldquoAn individual has not started living until he can rise above the narrow

                confines of his individualistic concerns to the broader concerns of all humanityrdquo

                bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

                that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

                ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

                ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

                Warm Up 3- Current Event 9814

                bullTake a minute to write about a current event you have recently learned about within the past week

                Purpose of Government

                We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                According to the Preamble what are the 6 purposes of our government

                Purpose of Government

                form a more perfect Union establish Justice the law must be

                reasonable fair and impartialinsure domestic Tranquility order is

                essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                guarantee civil rights and liberties

                3 Theorists bullThree classical theorists believed in the

                need for government for different reasonsEach reason accepted the assumption that

                men are invested in their own self-interestbullHobbes Locke Rousseau

                ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                governmentbullDecide which idea is a belief about the natural

                state of manbullBased on these ideas decide which quote

                belongs to which theoristbullExplain the quote in your own words and how

                it relates to each personrsquos beliefs about government and the natural state of man

                Origins of American Government A customized government

                bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                Developed notion of social contract between rulers and their subjects

                Believed people were too selfish to govern themselves

                ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                Origins of American Government A customized government

                bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                Ideas helped lay foundations for democratic government

                Believed people formed governments to protect their rights and were innately good

                ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                Origins of American Government A customized government

                bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                Believed people were naturally good but corrupted and enslaved by society

                Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                ldquoForce does not create right obedience is due to only legitimate powersrdquo

                With which theory do you agree more Why

                John Locke Thomas Hobbes

                The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                purpose of government Government needs to attain power from the

                people in order to perform any functions

                CLOSURE How much power is too much How much

                liberty should be given up hellip bullThis represented a debated trade offhellip

                Clash of order and freedom= Original Dilemma

                Warm Up 5 Hobbes and Locke

                Hobbes

                Locke

                Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                Group 4Mike KingChris ConteKarlyRyanKatieDJ

                Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                Group 2JakeShawnKatieDrewWyattKatAshlyn

                Group 3JennaCeatonJeffLivSteveGarciaTom

                Group 4SuzetteJulianneAlekDanScottSpenserNick R

                Balloon Game Objective

                To be the team with the most filled balloons taped into the square on the board Rules

                1 No running 2 No touching classmates hellip that does

                not mean you canrsquot touch their balloons hellip

                3 No removal of balloons once they are taped to the board

                You will have less than 5 minutes to come up with a strategy in your group

                You will have 10 minutes to get as many filled balloons on the square as possible

                End

                >

                Balloon Game Debriefing What type of behavior did you see during the

                game

                List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                Why do you think you needed more ldquorulesrdquo during

                this game

                How does this relate to this class How does it relate to the theorists

                Political Theories

                Force Theory small group forced

                all to submit to person andor grouprsquos rule

                Evolutionary Theory developed naturally out of the

                evolution of the family

                Divine Right held that God created the state

                and God had given those of royal birth

                ldquodivine rightrdquo to rule

                Social Contract argues that state arose out of a

                voluntary act of free people State exists only

                to serve the will of the people

                Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                power to a government to protect them and serve their interests

                bullFree to remove that power at any timebullGovernment can only create laws when it

                has the consent of the governedbullExamples

                Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                cannot be taken away by any one (government)

                bull Government exists to secure our natural rights and is based on the consent of those who are governed

                bull Idea of consent derived from social contract theory

                Democracybull A system of government in which in

                theory the people rule either directly or indirectly

                bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                Concepts of Governmentbull Ordered governmentmdashneed for order

                bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                Warm up 6 ndash 91114

                Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                Warm Up 7

                bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                And after the ConstitutionFederalism vs Anti-Federalism

                bullFederalists believed Favored ratification believed Constitution was

                strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                bullAnti-Federalists believed Opposed ratification believed Constitution

                was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                Activity

                bullEach of you will get a card it either has a termperson or a definition on it

                bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                secret with your partner

                Picture Activity

                bullGallery Walk

                Constitutional Convention

                bullMet in Philadelphia in 1787

                bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                bullThese men were collectively known as ldquoThe Framersrdquo

                Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                Confederation bullDelegates quickly realized they were

                meeting to create a new government (with 3 branches)

                VA Plan v NJ Plan

                Several plans were proposed to correct the weaknesses of the Articles

                bullVirginia PlanbullNew Jersey Plan

                Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                Virginia Plan ldquoLarge State Planrdquo

                bullStrong central govrsquotbullL Bicameral Congress

                Representation based on population

                bullE ldquoPresidentrdquo Chosen by Congress

                bullJ 1+ supreme courts with lower courtsChosen by Congress

                New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                Each state would have = representationExpand power to tax amp regulate trade

                bullE Two-person presidencyChosen by Congress able to be removed

                bullJ Single Supreme CourtChosen by Executive

                Your Task

                Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                them to choose your planUse catchy phrasesslogans and be sure to

                include the historical features of your plan (VA or NJ)

                At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                Closure

                bullWhat do you think (or know) happens to these two plans

                States agreebull States agree to (ratify) the Constitution

                only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                Quote

                bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                bullWhat words stick to you in this quote Why

                Structure of Constitutionbull Provides basic

                framework for US government

                bull Outlines basic principles structure and processes

                bull Three partsmdashPreambleArticlesAmendments

                Structure of Constitution bull Preamble

                Introduction to the Constitution Lists ideas that the government should stand for

                and states purposes We the people of the United States in Order

                to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                6 Purpose of Government bull Form a More Perfect Union

                bull Establish Justice bull Insure Domestic Tranquility

                bull Provide for the Common Defense

                bull Promote the General Welfare

                bull Secure the Blessings of Liberty

                For each phrase consider the followinghellip

                1 Why do you think the Framerrsquos put this phrase in the US Constitution

                2 Is this phrase important today

                Structure of Constitution bullArticles

                Main body of the Constitution Lay out basic structure of the national

                governmentFurther broken down into sections and clauses

                Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                Clause oaths of office

                Article VII Ratification

                Structure of Constitution

                bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                Activity

                Activity bull STEP 1 bull Fill in the graphic

                organizer in your guided notes packet You have 8 minutes on your own to do this

                bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                Principle Explanation

                Popular Sovereignty Idea that people are the source of all power held by the government

                Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                Federalism Divides the power between the central government and the States

                Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                Question 1

                bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                Popular Sovereignty

                Question 2

                bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                Limited Government

                Question 3

                bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                Limited Government

                Question 4

                bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                SEPARATION OF POWERS

                Question 5

                bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                Checks and Balances

                Question 6

                bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                CHECKS AND BALANCES

                Question 7

                bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                JUDICIAL REVIEW

                Question 8

                bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                Federalism

                GroupsPopular

                SovereigntySeparation of

                PowersFederalism

                bull bull bull

                Judicial Review

                Limited Government

                Checks and Balances

                bull bull bull

                Separation of Powers

                bull Legislative branchmdashmakes the laws

                bull Executive branchmdashenforces the laws

                bull Judicial branchmdashinterprets the law

                Video

                bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                Checks and Balances

                Checks and balances

                bullIn what was do the branches check on one another

                bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                Basic Principles

                bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                Self- Worth

                bull A recognition of the fundamental worth of every person

                bull The democratic process reflects the collective set of individuals who make up society

                Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                Compromise

                bull A matter of compromise to determine the position most acceptable to the largest number of people

                bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                bullWhy is compromise important

                Individual Freedombull Right of the

                individual to be free as far as the freedom of all will allow

                bull Democracy does not and cannot insist on the absolute freedom of the individual person

                Write your ownhellipbull Now that you know what the foundations of

                government arehellip Create your own Constitution (Or social contract)

                What do you think is important to include What do you think could be taken out

                Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                Preamble (brief introduction) Articles (what should it include based on what we

                learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                change it)

                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                paper

                TED Talk

                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                Closure

                bullExplain two principles of the constitution and how are they connected

                What is Economics

                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                Important Parts of Economicsndash

                CHOICESSCARCITY

                Economics ishellip

                bullDependent upon assumptions

                bullDependent upon simplification of reality

                Back to our assumptionshellip

                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                bullAll sellers seek to maximize profits

                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                For the videohellip

                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                Post Videohellip

                bullDefine the main idea of the video in 4-5 words

                Advertisement

                bullKnowing some of the basics about what economics is and why we study ithellip

                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                3 images that represent different economic ideas

                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                1 slogan that represents why economics is an important course to take

                Political Cartoon Analysis

                Factors of Production bull LAND

                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                soil minerals water and plants

                bull LABOR Also called Human Resources Includes physical and mental activities that go

                into producing goodsservices

                bull CAPITAL Includes tools machines buildings and

                technologies

                bull ENTREPRENEUR Risk taker who is responsible for combining

                land labor and capital to produce goods and services

                TASK

                bullTask Why are entrepreneurs the driving force in our economy

                bullAnswer in 2-3 sentences

                The price ofhellip

                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                Economic efficiency is achieved when all available resources are being used

                All societies must answer three basic questions to satisfy the needs and wants of their populations

                1 What to produce

                bullShould it be military or civilian goods

                bullFood or clothingbullMedicine or movies

                2 How to produce it

                bullAutomated or manual labor

                bullExpensive or cheap materials

                bullDomestic or overseas labor

                3 For whom to produce it

                bullThe wealthy or the needybullThe sick or the healthy

                Application Activity

                bull In groups of 2-3 create your own country (name it please)

                bull With your countryrsquos name explain the Population geography and general population

                information (iehellipbull Choose 5 items for your country to produce and

                answer the three societal questions for eachALSO explain why this material would help your

                economy thrivereach economic efficiencybull Create an advertisement for your country

                withhellip Images representing what you produce and a

                slogan for why your country is awesome

                EQs

                bullHow does scarcity impact decision making

                Objectives amp Essential QuestionsbullObjectives

                I will be able to create and reflect on a budget given new economics content

                I will be able to understand scarcity and our mixed economy

                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                Group Activity Budget Activity

                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                How do we satisfy our economic wants

                bull We buy goods or services

                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                bull Service ndash work done by someone else for which someone is willing to pay

                How do we make goods amp services

                bull Use Factors of Production - The productive resources that go into producing goods and services

                Production Equation

                LAND + LABOR + CAPITAL = GOODSERVICE

                inputs output

                Economic Interdependence

                bullWhat does lsquointerdependencersquo mean

                bullIs our world becoming economic interdependent or independent

                bullEconomic Interdependence the actions of one part of the

                country (world) has an impact on what happens elsewhere

                Wants amp Needs gt

                Resources

                Because of scarcity we

                have to make choices

                How do we make a choice What do we give up

                What does this remind you of from our government unit

                Making Choices to Deal With Scarcity

                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                decision over another

                ExampleshellipbullSome choices are easy to makehellip

                HmmhellipShould I have pizza or a hoagie for lunch today

                bullOther decisions are agonizinghellipShould I get out of bed and go to

                school today or should I sleep in

                Task Reflecting on Personal Trade-offshellip

                In the end what helped you decide amongst your choices

                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                tradeoffs for that decision

                Be prepared to share

                Opportunity Cost

                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                Opportunity Cost ndash The best thing we give up to get what

                we want

                What else influences your choices

                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                FinallyhellipWhy it Matters

                Understanding the opportunity coststradeoffs of different choices in life makes you a

                better decision-maker

                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                You always have to give something uphelliprdquo

                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                decisions

                Visualizing the Relationshiphellip

                Limited Resources amp Unlimited Wants

                Scarcity

                Trade-offs (choices)

                Opportunity Costs

                ObjectivesEssential Questions

                bullObjectivebullI will be able to understand (and teach)

                the three different types of economies

                bullEssential Question How do the different types of economies work

                How Can We Measure What We Gain and Lose When

                Making Choices

                Answer With a Production Possibilities Frontier

                Production Possibilities Frontier

                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                PPF Assumptions

                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                Production Possibilities Curve

                CD

                E

                OU

                TP

                UT

                OF

                CO

                NS

                UM

                ER

                GO

                OD

                S

                (un

                its

                per

                yea

                r)

                OUTPUT OF MILITARY GOODS (units per year)

                A

                BO

                XF

                G

                Limited resources necessitate choices about WHAT to produce

                The Choices Nations Make

                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                bullProduce military goods or consumer goods

                Economic Growth

                2000 production possibilities

                1900 production possibilities

                OU

                TP

                UT

                OF

                CO

                NS

                UM

                ER

                GO

                OD

                S(u

                nits

                per

                yea

                r)

                OUTPUT OF MILITARY GOODS (units per year)

                Production possibilities increases with more resources and technology

                The Classic Guns and Butter example

                Guns

                Butter

                10000 20000 30000 40000 50000

                1000009500085000

                70000

                5000040000

                BA

                C

                D

                E

                F

                At point A all resources are used for butter

                Moving from point A to point B requires shifting resources out of butter and into guns

                At point F all resources are used for Guns

                Productivitybull A PPF can help us see how efficient our

                choices are

                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                Locations on a PPF

                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                Food

                Computer

                4

                3

                2

                1

                1 2 3 4

                OC between 1 and 2 computers = 1 Food

                UnitOC between 3 and 4 computers = 1 Food

                Unit

                Constantly giving up the same quantity of food to get

                additional computers

                STRAIGHT-LINE PPFs Constant OC

                BOWED-OUT PPFs VaryingIncreasing OC

                Principle of Increasing Costs

                As a society produces more of one product the OC of producing

                that product increases because we are using more resources that are poorly suited to produce it

                Economic Systems

                An economic system is the way a society coordinates the production and consumption of goods amp services

                How a society answers the three basic economic questions determines which type of economic system they are

                Three Types of Economic Systems Command Traditional Market

                Jigsaw activity

                bullYou will be placed in groups of 3 and assigned a type of economy

                bullYou will have 7 minutes to read and come up with 4 key components

                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                Economic amp Social Goals of an Economic System

                bull Economic Freedom

                bull Economic Efficiency

                bull Economic Equity

                bull Economic Security

                Economic Stability

                Economic Growth

                Review of Economic Systems

                bullA traditional economy relies on custom and tradition to dictate production and consumption

                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                bullIn a market economy individual producers and consumers coordinate economic activity

                What are the most important goals of each economic system

                bullTraditionalSecurity and

                StabilitybullCommand

                Equity and Security

                bullMARKETEfficiency and

                Freedom

                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                at the expense of another (TRADEOFFS)

                Which economic system does the US use

                The American Economic System

                bullWe have a mixed market economy

                COMMAND MARKET

                The US mixed economybull In a mixed economyhellip

                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                Think backhellip

                bullWhat does this remind you of from the beginning of the unit

                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                2 Limited government

                3 Equal opportunity

                4 Competition

                5 Profit motive

                6 Property Rights

                7 Binding Contracts

                Understanding how all parts fit together

                Circular Flow of Economic Activity Represents a market economy

                2 main ldquomarketsrdquoProduct Market Factor Market

                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                Shows interdependence between

                businesses and individuals

                Marriage Vowsbull CONGRATULATIONS The government and the economy

                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                bull Using what you have learned this unit and using the textbook

                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                Do you remember

                bullWrite the following question downbullWhy does the United States have a

                democracy and mixed economy

                • Foundations of Government and Economics
                • On your blank piece of paperhellip
                • Slide 3
                • Warm-Up 1 - 9414
                • Introductory thoughts hellip
                • Slide 6
                • 2 How about to your life
                • Slide 8
                • Slide 9
                • Slide 10
                • Slide 11
                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                • Warm up 2bndash In Journal-
                • Economist and Politician Assumptions
                • Individualism
                • Quote activity
                • Quote breakdown
                • Warm Up 3- Current Event 9814
                • Purpose of Government
                • Slide 20
                • 3 Theorists
                • Activity
                • Origins of American Government A customized government
                • Origins of American Government A customized government (2)
                • Origins of American Government A customized government (3)
                • With which theory do you agree more Why
                • The ldquoOriginal Dilemmardquo
                • Warm Up 5 Hobbes and Locke
                • Groups Block 2
                • Groups Block 4
                • Balloon Game
                • You will have 10 minutes to get as many filled balloons on the
                • Balloon Game Debriefing
                • Political Theories
                • Social Contract
                • Natural Rights
                • Democracy
                • Concepts of Government
                • Warm up 6 ndash 91114
                • Warm Up 7
                • And after the Constitution
                • Activity (2)
                • Picture Activity
                • Constitutional Convention
                • Purpose of the Convention
                • VA Plan v NJ Plan
                • Virginia Plan ldquoLarge State Planrdquo
                • New Jersey Plan ldquoSmall State Planrdquo
                • Your Task
                • Closure
                • States agree
                • Quote
                • Structure of Constitution
                • Structure of Constitution
                • 6 Purpose of Government
                • Structure of Constitution (2)
                • Structure of Constitution (3)
                • Principles of Constitution
                • Activity
                • Slide 60
                • Check for Understanding Six Principles
                • Question 1
                • Question 2
                • Question 3
                • Question 4
                • Question 5
                • Question 6
                • Question 7
                • Question 8
                • Groups
                • Separation of Powers
                • Video
                • Checks and Balances
                • Slide 74
                • Checks and balances
                • Basic Principles
                • Self- Worth
                • Equality
                • Compromise
                • Individual Freedom
                • Write your ownhellip
                • Slide 82
                • TED Talk
                • Closure
                • What is Economics
                • Economics ishellip
                • Back to our assumptionshellip
                • Scarcity refers to the limited number of resources (factors of
                • For the videohellip
                • Slide 90
                • Post Videohellip
                • Advertisement
                • Political Cartoon Analysis
                • Factors of Production
                • TASK
                • The price ofhellip
                • Economic efficiency is achieved when all available resources ar
                • 1 What to produce
                • 2 How to produce it
                • 3 For whom to produce it
                • Application Activity
                • EQs
                • Objectives amp Essential Questions
                • Group Activity Budget Activity
                • Slide 105
                • How do we satisfy our economic wants
                • How do we make goods amp services
                • Economic Interdependence
                • Slide 109
                • Making Choices to Deal With Scarcity
                • Exampleshellip
                • Task Reflecting on Personal Trade-offshellip
                • Opportunity Cost
                • What else influences your choices
                • Finallyhellip Why it Matters
                • Visualizing the Relationshiphellip
                • ObjectivesEssential Questions
                • How Can We Measure What We Gain and Lose When Making Choices
                • Production Possibilities Frontier
                • PPF Assumptions
                • Slide 121
                • Production Possibilities Curve
                • The Choices Nations Make
                • Economic Growth
                • The Classic Guns and Butter example
                • Productivity
                • Locations on a PPF
                • Slide 128
                • BOWED-OUT PPFs VaryingIncreasing OC
                • Economic Systems
                • Jigsaw activity
                • Slide 132
                • Economic amp Social Goals of an Economic System
                • Review of Economic Systems
                • Slide 135
                • What are the most important goals of each economic system
                • Which economic system does the US use
                • The American Economic System
                • The US mixed economy
                • Slide 140
                • Think backhellip
                • US Economic System Characteristics
                • Slide 143
                • Understanding how all parts fit together
                • Marriage Vows
                • Do you remember
                • Slide 147

                  HOW WOULD YOU DRAWAMERICA AS A CARICATURE

                  - Man or woman- Young or old- Fit or fat- Attractive or ugly- What symbols would come associated with it A

                  truck A tank A hybrid

                  On your paper draw America as you envision it as a caricature Must have color and at least two symbolsitemsaccessories

                  No stick figures

                  YOUR CARICATURE MUST

                  - Have color

                  - Be of America and how you view our country

                  - Include symbolsitemsaccessories that represent how you view our country

                  - Have a reasonable explanation for how it looks

                  PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

                  Warm Up -2a- 9514The New York Times and CBS News Pollhellip

                  How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

                  alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

                  How can you link this poll to why it is important to study our government and economic system

                  Warm up 2bndash In Journal-

                  Economist and Politician Assumptions

                  bull When studying humans people in politics and economics think abouthellip

                  bull Self worth individuals have worth and value their lives

                  bull Self interest people pursue their own interests to improve their lives

                  bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

                  bull Equilibrium Balance of competing forces

                  Individualism

                  bullWhat words do you associate with individualism

                  bullOur definitionideology or social outlook that emphasizes

                  the moral worth of the individual

                  Quote activity

                  bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

                  sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

                  your sheetbull You may then have 10 minutes to share

                  your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

                  Quote breakdown

                  bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

                  obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

                  way it does not existrdquo

                  bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

                  societyrdquo ldquoAn individual has not started living until he can rise above the narrow

                  confines of his individualistic concerns to the broader concerns of all humanityrdquo

                  bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

                  that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

                  ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

                  ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

                  Warm Up 3- Current Event 9814

                  bullTake a minute to write about a current event you have recently learned about within the past week

                  Purpose of Government

                  We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                  According to the Preamble what are the 6 purposes of our government

                  Purpose of Government

                  form a more perfect Union establish Justice the law must be

                  reasonable fair and impartialinsure domestic Tranquility order is

                  essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                  guarantee civil rights and liberties

                  3 Theorists bullThree classical theorists believed in the

                  need for government for different reasonsEach reason accepted the assumption that

                  men are invested in their own self-interestbullHobbes Locke Rousseau

                  ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                  governmentbullDecide which idea is a belief about the natural

                  state of manbullBased on these ideas decide which quote

                  belongs to which theoristbullExplain the quote in your own words and how

                  it relates to each personrsquos beliefs about government and the natural state of man

                  Origins of American Government A customized government

                  bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                  Developed notion of social contract between rulers and their subjects

                  Believed people were too selfish to govern themselves

                  ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                  Origins of American Government A customized government

                  bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                  Ideas helped lay foundations for democratic government

                  Believed people formed governments to protect their rights and were innately good

                  ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                  Origins of American Government A customized government

                  bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                  Believed people were naturally good but corrupted and enslaved by society

                  Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                  ldquoForce does not create right obedience is due to only legitimate powersrdquo

                  With which theory do you agree more Why

                  John Locke Thomas Hobbes

                  The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                  purpose of government Government needs to attain power from the

                  people in order to perform any functions

                  CLOSURE How much power is too much How much

                  liberty should be given up hellip bullThis represented a debated trade offhellip

                  Clash of order and freedom= Original Dilemma

                  Warm Up 5 Hobbes and Locke

                  Hobbes

                  Locke

                  Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                  Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                  Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                  Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                  Group 4Mike KingChris ConteKarlyRyanKatieDJ

                  Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                  Group 2JakeShawnKatieDrewWyattKatAshlyn

                  Group 3JennaCeatonJeffLivSteveGarciaTom

                  Group 4SuzetteJulianneAlekDanScottSpenserNick R

                  Balloon Game Objective

                  To be the team with the most filled balloons taped into the square on the board Rules

                  1 No running 2 No touching classmates hellip that does

                  not mean you canrsquot touch their balloons hellip

                  3 No removal of balloons once they are taped to the board

                  You will have less than 5 minutes to come up with a strategy in your group

                  You will have 10 minutes to get as many filled balloons on the square as possible

                  End

                  >

                  Balloon Game Debriefing What type of behavior did you see during the

                  game

                  List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                  Why do you think you needed more ldquorulesrdquo during

                  this game

                  How does this relate to this class How does it relate to the theorists

                  Political Theories

                  Force Theory small group forced

                  all to submit to person andor grouprsquos rule

                  Evolutionary Theory developed naturally out of the

                  evolution of the family

                  Divine Right held that God created the state

                  and God had given those of royal birth

                  ldquodivine rightrdquo to rule

                  Social Contract argues that state arose out of a

                  voluntary act of free people State exists only

                  to serve the will of the people

                  Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                  power to a government to protect them and serve their interests

                  bullFree to remove that power at any timebullGovernment can only create laws when it

                  has the consent of the governedbullExamples

                  Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                  cannot be taken away by any one (government)

                  bull Government exists to secure our natural rights and is based on the consent of those who are governed

                  bull Idea of consent derived from social contract theory

                  Democracybull A system of government in which in

                  theory the people rule either directly or indirectly

                  bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                  Concepts of Governmentbull Ordered governmentmdashneed for order

                  bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                  bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                  Warm up 6 ndash 91114

                  Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                  are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                  Warm Up 7

                  bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                  And after the ConstitutionFederalism vs Anti-Federalism

                  bullFederalists believed Favored ratification believed Constitution was

                  strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                  bullAnti-Federalists believed Opposed ratification believed Constitution

                  was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                  Activity

                  bullEach of you will get a card it either has a termperson or a definition on it

                  bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                  bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                  secret with your partner

                  Picture Activity

                  bullGallery Walk

                  Constitutional Convention

                  bullMet in Philadelphia in 1787

                  bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                  bullThese men were collectively known as ldquoThe Framersrdquo

                  Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                  Confederation bullDelegates quickly realized they were

                  meeting to create a new government (with 3 branches)

                  VA Plan v NJ Plan

                  Several plans were proposed to correct the weaknesses of the Articles

                  bullVirginia PlanbullNew Jersey Plan

                  Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                  Virginia Plan ldquoLarge State Planrdquo

                  bullStrong central govrsquotbullL Bicameral Congress

                  Representation based on population

                  bullE ldquoPresidentrdquo Chosen by Congress

                  bullJ 1+ supreme courts with lower courtsChosen by Congress

                  New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                  Each state would have = representationExpand power to tax amp regulate trade

                  bullE Two-person presidencyChosen by Congress able to be removed

                  bullJ Single Supreme CourtChosen by Executive

                  Your Task

                  Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                  them to choose your planUse catchy phrasesslogans and be sure to

                  include the historical features of your plan (VA or NJ)

                  At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                  Closure

                  bullWhat do you think (or know) happens to these two plans

                  States agreebull States agree to (ratify) the Constitution

                  only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                  bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                  Quote

                  bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                  bullWhat words stick to you in this quote Why

                  Structure of Constitutionbull Provides basic

                  framework for US government

                  bull Outlines basic principles structure and processes

                  bull Three partsmdashPreambleArticlesAmendments

                  Structure of Constitution bull Preamble

                  Introduction to the Constitution Lists ideas that the government should stand for

                  and states purposes We the people of the United States in Order

                  to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                  6 Purpose of Government bull Form a More Perfect Union

                  bull Establish Justice bull Insure Domestic Tranquility

                  bull Provide for the Common Defense

                  bull Promote the General Welfare

                  bull Secure the Blessings of Liberty

                  For each phrase consider the followinghellip

                  1 Why do you think the Framerrsquos put this phrase in the US Constitution

                  2 Is this phrase important today

                  Structure of Constitution bullArticles

                  Main body of the Constitution Lay out basic structure of the national

                  governmentFurther broken down into sections and clauses

                  Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                  Clause oaths of office

                  Article VII Ratification

                  Structure of Constitution

                  bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                  Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                  bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                  Activity

                  Activity bull STEP 1 bull Fill in the graphic

                  organizer in your guided notes packet You have 8 minutes on your own to do this

                  bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                  Principle Explanation

                  Popular Sovereignty Idea that people are the source of all power held by the government

                  Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                  Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                  Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                  Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                  Federalism Divides the power between the central government and the States

                  Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                  Question 1

                  bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                  Popular Sovereignty

                  Question 2

                  bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                  Limited Government

                  Question 3

                  bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                  Limited Government

                  Question 4

                  bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                  SEPARATION OF POWERS

                  Question 5

                  bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                  Checks and Balances

                  Question 6

                  bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                  CHECKS AND BALANCES

                  Question 7

                  bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                  JUDICIAL REVIEW

                  Question 8

                  bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                  Federalism

                  GroupsPopular

                  SovereigntySeparation of

                  PowersFederalism

                  bull bull bull

                  Judicial Review

                  Limited Government

                  Checks and Balances

                  bull bull bull

                  Separation of Powers

                  bull Legislative branchmdashmakes the laws

                  bull Executive branchmdashenforces the laws

                  bull Judicial branchmdashinterprets the law

                  Video

                  bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                  Checks and Balances

                  Checks and balances

                  bullIn what was do the branches check on one another

                  bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                  Basic Principles

                  bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                  Self- Worth

                  bull A recognition of the fundamental worth of every person

                  bull The democratic process reflects the collective set of individuals who make up society

                  Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                  bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                  bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                  Compromise

                  bull A matter of compromise to determine the position most acceptable to the largest number of people

                  bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                  bullWhy is compromise important

                  Individual Freedombull Right of the

                  individual to be free as far as the freedom of all will allow

                  bull Democracy does not and cannot insist on the absolute freedom of the individual person

                  Write your ownhellipbull Now that you know what the foundations of

                  government arehellip Create your own Constitution (Or social contract)

                  What do you think is important to include What do you think could be taken out

                  Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                  Preamble (brief introduction) Articles (what should it include based on what we

                  learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                  change it)

                  bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                  paper

                  TED Talk

                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                  Closure

                  bullExplain two principles of the constitution and how are they connected

                  What is Economics

                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                  Important Parts of Economicsndash

                  CHOICESSCARCITY

                  Economics ishellip

                  bullDependent upon assumptions

                  bullDependent upon simplification of reality

                  Back to our assumptionshellip

                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                  bullAll sellers seek to maximize profits

                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                  For the videohellip

                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                  Post Videohellip

                  bullDefine the main idea of the video in 4-5 words

                  Advertisement

                  bullKnowing some of the basics about what economics is and why we study ithellip

                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                  3 images that represent different economic ideas

                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                  1 slogan that represents why economics is an important course to take

                  Political Cartoon Analysis

                  Factors of Production bull LAND

                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                  soil minerals water and plants

                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                  into producing goodsservices

                  bull CAPITAL Includes tools machines buildings and

                  technologies

                  bull ENTREPRENEUR Risk taker who is responsible for combining

                  land labor and capital to produce goods and services

                  TASK

                  bullTask Why are entrepreneurs the driving force in our economy

                  bullAnswer in 2-3 sentences

                  The price ofhellip

                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                  Economic efficiency is achieved when all available resources are being used

                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                  1 What to produce

                  bullShould it be military or civilian goods

                  bullFood or clothingbullMedicine or movies

                  2 How to produce it

                  bullAutomated or manual labor

                  bullExpensive or cheap materials

                  bullDomestic or overseas labor

                  3 For whom to produce it

                  bullThe wealthy or the needybullThe sick or the healthy

                  Application Activity

                  bull In groups of 2-3 create your own country (name it please)

                  bull With your countryrsquos name explain the Population geography and general population

                  information (iehellipbull Choose 5 items for your country to produce and

                  answer the three societal questions for eachALSO explain why this material would help your

                  economy thrivereach economic efficiencybull Create an advertisement for your country

                  withhellip Images representing what you produce and a

                  slogan for why your country is awesome

                  EQs

                  bullHow does scarcity impact decision making

                  Objectives amp Essential QuestionsbullObjectives

                  I will be able to create and reflect on a budget given new economics content

                  I will be able to understand scarcity and our mixed economy

                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                  Group Activity Budget Activity

                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                  How do we satisfy our economic wants

                  bull We buy goods or services

                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                  bull Service ndash work done by someone else for which someone is willing to pay

                  How do we make goods amp services

                  bull Use Factors of Production - The productive resources that go into producing goods and services

                  Production Equation

                  LAND + LABOR + CAPITAL = GOODSERVICE

                  inputs output

                  Economic Interdependence

                  bullWhat does lsquointerdependencersquo mean

                  bullIs our world becoming economic interdependent or independent

                  bullEconomic Interdependence the actions of one part of the

                  country (world) has an impact on what happens elsewhere

                  Wants amp Needs gt

                  Resources

                  Because of scarcity we

                  have to make choices

                  How do we make a choice What do we give up

                  What does this remind you of from our government unit

                  Making Choices to Deal With Scarcity

                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                  decision over another

                  ExampleshellipbullSome choices are easy to makehellip

                  HmmhellipShould I have pizza or a hoagie for lunch today

                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                  school today or should I sleep in

                  Task Reflecting on Personal Trade-offshellip

                  In the end what helped you decide amongst your choices

                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                  tradeoffs for that decision

                  Be prepared to share

                  Opportunity Cost

                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                  Opportunity Cost ndash The best thing we give up to get what

                  we want

                  What else influences your choices

                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                  FinallyhellipWhy it Matters

                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                  better decision-maker

                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                  You always have to give something uphelliprdquo

                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                  decisions

                  Visualizing the Relationshiphellip

                  Limited Resources amp Unlimited Wants

                  Scarcity

                  Trade-offs (choices)

                  Opportunity Costs

                  ObjectivesEssential Questions

                  bullObjectivebullI will be able to understand (and teach)

                  the three different types of economies

                  bullEssential Question How do the different types of economies work

                  How Can We Measure What We Gain and Lose When

                  Making Choices

                  Answer With a Production Possibilities Frontier

                  Production Possibilities Frontier

                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                  PPF Assumptions

                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                  Production Possibilities Curve

                  CD

                  E

                  OU

                  TP

                  UT

                  OF

                  CO

                  NS

                  UM

                  ER

                  GO

                  OD

                  S

                  (un

                  its

                  per

                  yea

                  r)

                  OUTPUT OF MILITARY GOODS (units per year)

                  A

                  BO

                  XF

                  G

                  Limited resources necessitate choices about WHAT to produce

                  The Choices Nations Make

                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                  bullProduce military goods or consumer goods

                  Economic Growth

                  2000 production possibilities

                  1900 production possibilities

                  OU

                  TP

                  UT

                  OF

                  CO

                  NS

                  UM

                  ER

                  GO

                  OD

                  S(u

                  nits

                  per

                  yea

                  r)

                  OUTPUT OF MILITARY GOODS (units per year)

                  Production possibilities increases with more resources and technology

                  The Classic Guns and Butter example

                  Guns

                  Butter

                  10000 20000 30000 40000 50000

                  1000009500085000

                  70000

                  5000040000

                  BA

                  C

                  D

                  E

                  F

                  At point A all resources are used for butter

                  Moving from point A to point B requires shifting resources out of butter and into guns

                  At point F all resources are used for Guns

                  Productivitybull A PPF can help us see how efficient our

                  choices are

                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                  Locations on a PPF

                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                  Food

                  Computer

                  4

                  3

                  2

                  1

                  1 2 3 4

                  OC between 1 and 2 computers = 1 Food

                  UnitOC between 3 and 4 computers = 1 Food

                  Unit

                  Constantly giving up the same quantity of food to get

                  additional computers

                  STRAIGHT-LINE PPFs Constant OC

                  BOWED-OUT PPFs VaryingIncreasing OC

                  Principle of Increasing Costs

                  As a society produces more of one product the OC of producing

                  that product increases because we are using more resources that are poorly suited to produce it

                  Economic Systems

                  An economic system is the way a society coordinates the production and consumption of goods amp services

                  How a society answers the three basic economic questions determines which type of economic system they are

                  Three Types of Economic Systems Command Traditional Market

                  Jigsaw activity

                  bullYou will be placed in groups of 3 and assigned a type of economy

                  bullYou will have 7 minutes to read and come up with 4 key components

                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                  Economic amp Social Goals of an Economic System

                  bull Economic Freedom

                  bull Economic Efficiency

                  bull Economic Equity

                  bull Economic Security

                  Economic Stability

                  Economic Growth

                  Review of Economic Systems

                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                  bullIn a market economy individual producers and consumers coordinate economic activity

                  What are the most important goals of each economic system

                  bullTraditionalSecurity and

                  StabilitybullCommand

                  Equity and Security

                  bullMARKETEfficiency and

                  Freedom

                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                  at the expense of another (TRADEOFFS)

                  Which economic system does the US use

                  The American Economic System

                  bullWe have a mixed market economy

                  COMMAND MARKET

                  The US mixed economybull In a mixed economyhellip

                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                  Think backhellip

                  bullWhat does this remind you of from the beginning of the unit

                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                  2 Limited government

                  3 Equal opportunity

                  4 Competition

                  5 Profit motive

                  6 Property Rights

                  7 Binding Contracts

                  Understanding how all parts fit together

                  Circular Flow of Economic Activity Represents a market economy

                  2 main ldquomarketsrdquoProduct Market Factor Market

                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                  Shows interdependence between

                  businesses and individuals

                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                  bull Using what you have learned this unit and using the textbook

                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                  Do you remember

                  bullWrite the following question downbullWhy does the United States have a

                  democracy and mixed economy

                  • Foundations of Government and Economics
                  • On your blank piece of paperhellip
                  • Slide 3
                  • Warm-Up 1 - 9414
                  • Introductory thoughts hellip
                  • Slide 6
                  • 2 How about to your life
                  • Slide 8
                  • Slide 9
                  • Slide 10
                  • Slide 11
                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                  • Warm up 2bndash In Journal-
                  • Economist and Politician Assumptions
                  • Individualism
                  • Quote activity
                  • Quote breakdown
                  • Warm Up 3- Current Event 9814
                  • Purpose of Government
                  • Slide 20
                  • 3 Theorists
                  • Activity
                  • Origins of American Government A customized government
                  • Origins of American Government A customized government (2)
                  • Origins of American Government A customized government (3)
                  • With which theory do you agree more Why
                  • The ldquoOriginal Dilemmardquo
                  • Warm Up 5 Hobbes and Locke
                  • Groups Block 2
                  • Groups Block 4
                  • Balloon Game
                  • You will have 10 minutes to get as many filled balloons on the
                  • Balloon Game Debriefing
                  • Political Theories
                  • Social Contract
                  • Natural Rights
                  • Democracy
                  • Concepts of Government
                  • Warm up 6 ndash 91114
                  • Warm Up 7
                  • And after the Constitution
                  • Activity (2)
                  • Picture Activity
                  • Constitutional Convention
                  • Purpose of the Convention
                  • VA Plan v NJ Plan
                  • Virginia Plan ldquoLarge State Planrdquo
                  • New Jersey Plan ldquoSmall State Planrdquo
                  • Your Task
                  • Closure
                  • States agree
                  • Quote
                  • Structure of Constitution
                  • Structure of Constitution
                  • 6 Purpose of Government
                  • Structure of Constitution (2)
                  • Structure of Constitution (3)
                  • Principles of Constitution
                  • Activity
                  • Slide 60
                  • Check for Understanding Six Principles
                  • Question 1
                  • Question 2
                  • Question 3
                  • Question 4
                  • Question 5
                  • Question 6
                  • Question 7
                  • Question 8
                  • Groups
                  • Separation of Powers
                  • Video
                  • Checks and Balances
                  • Slide 74
                  • Checks and balances
                  • Basic Principles
                  • Self- Worth
                  • Equality
                  • Compromise
                  • Individual Freedom
                  • Write your ownhellip
                  • Slide 82
                  • TED Talk
                  • Closure
                  • What is Economics
                  • Economics ishellip
                  • Back to our assumptionshellip
                  • Scarcity refers to the limited number of resources (factors of
                  • For the videohellip
                  • Slide 90
                  • Post Videohellip
                  • Advertisement
                  • Political Cartoon Analysis
                  • Factors of Production
                  • TASK
                  • The price ofhellip
                  • Economic efficiency is achieved when all available resources ar
                  • 1 What to produce
                  • 2 How to produce it
                  • 3 For whom to produce it
                  • Application Activity
                  • EQs
                  • Objectives amp Essential Questions
                  • Group Activity Budget Activity
                  • Slide 105
                  • How do we satisfy our economic wants
                  • How do we make goods amp services
                  • Economic Interdependence
                  • Slide 109
                  • Making Choices to Deal With Scarcity
                  • Exampleshellip
                  • Task Reflecting on Personal Trade-offshellip
                  • Opportunity Cost
                  • What else influences your choices
                  • Finallyhellip Why it Matters
                  • Visualizing the Relationshiphellip
                  • ObjectivesEssential Questions
                  • How Can We Measure What We Gain and Lose When Making Choices
                  • Production Possibilities Frontier
                  • PPF Assumptions
                  • Slide 121
                  • Production Possibilities Curve
                  • The Choices Nations Make
                  • Economic Growth
                  • The Classic Guns and Butter example
                  • Productivity
                  • Locations on a PPF
                  • Slide 128
                  • BOWED-OUT PPFs VaryingIncreasing OC
                  • Economic Systems
                  • Jigsaw activity
                  • Slide 132
                  • Economic amp Social Goals of an Economic System
                  • Review of Economic Systems
                  • Slide 135
                  • What are the most important goals of each economic system
                  • Which economic system does the US use
                  • The American Economic System
                  • The US mixed economy
                  • Slide 140
                  • Think backhellip
                  • US Economic System Characteristics
                  • Slide 143
                  • Understanding how all parts fit together
                  • Marriage Vows
                  • Do you remember
                  • Slide 147

                    YOUR CARICATURE MUST

                    - Have color

                    - Be of America and how you view our country

                    - Include symbolsitemsaccessories that represent how you view our country

                    - Have a reasonable explanation for how it looks

                    PLANNINGHow do I view America Positively Negatively How can I represent this What colors can I use to show my view What are some major issues in America today How can I represent these in my caricature

                    Warm Up -2a- 9514The New York Times and CBS News Pollhellip

                    How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

                    alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

                    How can you link this poll to why it is important to study our government and economic system

                    Warm up 2bndash In Journal-

                    Economist and Politician Assumptions

                    bull When studying humans people in politics and economics think abouthellip

                    bull Self worth individuals have worth and value their lives

                    bull Self interest people pursue their own interests to improve their lives

                    bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

                    bull Equilibrium Balance of competing forces

                    Individualism

                    bullWhat words do you associate with individualism

                    bullOur definitionideology or social outlook that emphasizes

                    the moral worth of the individual

                    Quote activity

                    bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

                    sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

                    your sheetbull You may then have 10 minutes to share

                    your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

                    Quote breakdown

                    bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

                    obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

                    way it does not existrdquo

                    bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

                    societyrdquo ldquoAn individual has not started living until he can rise above the narrow

                    confines of his individualistic concerns to the broader concerns of all humanityrdquo

                    bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

                    that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

                    ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

                    ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

                    Warm Up 3- Current Event 9814

                    bullTake a minute to write about a current event you have recently learned about within the past week

                    Purpose of Government

                    We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                    According to the Preamble what are the 6 purposes of our government

                    Purpose of Government

                    form a more perfect Union establish Justice the law must be

                    reasonable fair and impartialinsure domestic Tranquility order is

                    essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                    guarantee civil rights and liberties

                    3 Theorists bullThree classical theorists believed in the

                    need for government for different reasonsEach reason accepted the assumption that

                    men are invested in their own self-interestbullHobbes Locke Rousseau

                    ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                    governmentbullDecide which idea is a belief about the natural

                    state of manbullBased on these ideas decide which quote

                    belongs to which theoristbullExplain the quote in your own words and how

                    it relates to each personrsquos beliefs about government and the natural state of man

                    Origins of American Government A customized government

                    bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                    Developed notion of social contract between rulers and their subjects

                    Believed people were too selfish to govern themselves

                    ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                    Origins of American Government A customized government

                    bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                    Ideas helped lay foundations for democratic government

                    Believed people formed governments to protect their rights and were innately good

                    ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                    Origins of American Government A customized government

                    bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                    Believed people were naturally good but corrupted and enslaved by society

                    Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                    ldquoForce does not create right obedience is due to only legitimate powersrdquo

                    With which theory do you agree more Why

                    John Locke Thomas Hobbes

                    The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                    purpose of government Government needs to attain power from the

                    people in order to perform any functions

                    CLOSURE How much power is too much How much

                    liberty should be given up hellip bullThis represented a debated trade offhellip

                    Clash of order and freedom= Original Dilemma

                    Warm Up 5 Hobbes and Locke

                    Hobbes

                    Locke

                    Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                    Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                    Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                    Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                    Group 4Mike KingChris ConteKarlyRyanKatieDJ

                    Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                    Group 2JakeShawnKatieDrewWyattKatAshlyn

                    Group 3JennaCeatonJeffLivSteveGarciaTom

                    Group 4SuzetteJulianneAlekDanScottSpenserNick R

                    Balloon Game Objective

                    To be the team with the most filled balloons taped into the square on the board Rules

                    1 No running 2 No touching classmates hellip that does

                    not mean you canrsquot touch their balloons hellip

                    3 No removal of balloons once they are taped to the board

                    You will have less than 5 minutes to come up with a strategy in your group

                    You will have 10 minutes to get as many filled balloons on the square as possible

                    End

                    >

                    Balloon Game Debriefing What type of behavior did you see during the

                    game

                    List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                    Why do you think you needed more ldquorulesrdquo during

                    this game

                    How does this relate to this class How does it relate to the theorists

                    Political Theories

                    Force Theory small group forced

                    all to submit to person andor grouprsquos rule

                    Evolutionary Theory developed naturally out of the

                    evolution of the family

                    Divine Right held that God created the state

                    and God had given those of royal birth

                    ldquodivine rightrdquo to rule

                    Social Contract argues that state arose out of a

                    voluntary act of free people State exists only

                    to serve the will of the people

                    Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                    power to a government to protect them and serve their interests

                    bullFree to remove that power at any timebullGovernment can only create laws when it

                    has the consent of the governedbullExamples

                    Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                    cannot be taken away by any one (government)

                    bull Government exists to secure our natural rights and is based on the consent of those who are governed

                    bull Idea of consent derived from social contract theory

                    Democracybull A system of government in which in

                    theory the people rule either directly or indirectly

                    bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                    Concepts of Governmentbull Ordered governmentmdashneed for order

                    bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                    bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                    Warm up 6 ndash 91114

                    Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                    are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                    Warm Up 7

                    bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                    And after the ConstitutionFederalism vs Anti-Federalism

                    bullFederalists believed Favored ratification believed Constitution was

                    strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                    bullAnti-Federalists believed Opposed ratification believed Constitution

                    was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                    Activity

                    bullEach of you will get a card it either has a termperson or a definition on it

                    bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                    bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                    secret with your partner

                    Picture Activity

                    bullGallery Walk

                    Constitutional Convention

                    bullMet in Philadelphia in 1787

                    bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                    bullThese men were collectively known as ldquoThe Framersrdquo

                    Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                    Confederation bullDelegates quickly realized they were

                    meeting to create a new government (with 3 branches)

                    VA Plan v NJ Plan

                    Several plans were proposed to correct the weaknesses of the Articles

                    bullVirginia PlanbullNew Jersey Plan

                    Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                    Virginia Plan ldquoLarge State Planrdquo

                    bullStrong central govrsquotbullL Bicameral Congress

                    Representation based on population

                    bullE ldquoPresidentrdquo Chosen by Congress

                    bullJ 1+ supreme courts with lower courtsChosen by Congress

                    New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                    Each state would have = representationExpand power to tax amp regulate trade

                    bullE Two-person presidencyChosen by Congress able to be removed

                    bullJ Single Supreme CourtChosen by Executive

                    Your Task

                    Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                    them to choose your planUse catchy phrasesslogans and be sure to

                    include the historical features of your plan (VA or NJ)

                    At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                    Closure

                    bullWhat do you think (or know) happens to these two plans

                    States agreebull States agree to (ratify) the Constitution

                    only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                    bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                    Quote

                    bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                    bullWhat words stick to you in this quote Why

                    Structure of Constitutionbull Provides basic

                    framework for US government

                    bull Outlines basic principles structure and processes

                    bull Three partsmdashPreambleArticlesAmendments

                    Structure of Constitution bull Preamble

                    Introduction to the Constitution Lists ideas that the government should stand for

                    and states purposes We the people of the United States in Order

                    to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                    6 Purpose of Government bull Form a More Perfect Union

                    bull Establish Justice bull Insure Domestic Tranquility

                    bull Provide for the Common Defense

                    bull Promote the General Welfare

                    bull Secure the Blessings of Liberty

                    For each phrase consider the followinghellip

                    1 Why do you think the Framerrsquos put this phrase in the US Constitution

                    2 Is this phrase important today

                    Structure of Constitution bullArticles

                    Main body of the Constitution Lay out basic structure of the national

                    governmentFurther broken down into sections and clauses

                    Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                    Clause oaths of office

                    Article VII Ratification

                    Structure of Constitution

                    bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                    Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                    bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                    Activity

                    Activity bull STEP 1 bull Fill in the graphic

                    organizer in your guided notes packet You have 8 minutes on your own to do this

                    bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                    Principle Explanation

                    Popular Sovereignty Idea that people are the source of all power held by the government

                    Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                    Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                    Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                    Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                    Federalism Divides the power between the central government and the States

                    Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                    Question 1

                    bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                    Popular Sovereignty

                    Question 2

                    bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                    Limited Government

                    Question 3

                    bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                    Limited Government

                    Question 4

                    bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                    SEPARATION OF POWERS

                    Question 5

                    bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                    Checks and Balances

                    Question 6

                    bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                    CHECKS AND BALANCES

                    Question 7

                    bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                    JUDICIAL REVIEW

                    Question 8

                    bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                    Federalism

                    GroupsPopular

                    SovereigntySeparation of

                    PowersFederalism

                    bull bull bull

                    Judicial Review

                    Limited Government

                    Checks and Balances

                    bull bull bull

                    Separation of Powers

                    bull Legislative branchmdashmakes the laws

                    bull Executive branchmdashenforces the laws

                    bull Judicial branchmdashinterprets the law

                    Video

                    bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                    Checks and Balances

                    Checks and balances

                    bullIn what was do the branches check on one another

                    bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                    Basic Principles

                    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                    Self- Worth

                    bull A recognition of the fundamental worth of every person

                    bull The democratic process reflects the collective set of individuals who make up society

                    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                    Compromise

                    bull A matter of compromise to determine the position most acceptable to the largest number of people

                    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                    bullWhy is compromise important

                    Individual Freedombull Right of the

                    individual to be free as far as the freedom of all will allow

                    bull Democracy does not and cannot insist on the absolute freedom of the individual person

                    Write your ownhellipbull Now that you know what the foundations of

                    government arehellip Create your own Constitution (Or social contract)

                    What do you think is important to include What do you think could be taken out

                    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                    Preamble (brief introduction) Articles (what should it include based on what we

                    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                    change it)

                    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                    paper

                    TED Talk

                    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                    Closure

                    bullExplain two principles of the constitution and how are they connected

                    What is Economics

                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                    Important Parts of Economicsndash

                    CHOICESSCARCITY

                    Economics ishellip

                    bullDependent upon assumptions

                    bullDependent upon simplification of reality

                    Back to our assumptionshellip

                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                    bullAll sellers seek to maximize profits

                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                    For the videohellip

                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                    Post Videohellip

                    bullDefine the main idea of the video in 4-5 words

                    Advertisement

                    bullKnowing some of the basics about what economics is and why we study ithellip

                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                    3 images that represent different economic ideas

                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                    1 slogan that represents why economics is an important course to take

                    Political Cartoon Analysis

                    Factors of Production bull LAND

                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                    soil minerals water and plants

                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                    into producing goodsservices

                    bull CAPITAL Includes tools machines buildings and

                    technologies

                    bull ENTREPRENEUR Risk taker who is responsible for combining

                    land labor and capital to produce goods and services

                    TASK

                    bullTask Why are entrepreneurs the driving force in our economy

                    bullAnswer in 2-3 sentences

                    The price ofhellip

                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                    Economic efficiency is achieved when all available resources are being used

                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                    1 What to produce

                    bullShould it be military or civilian goods

                    bullFood or clothingbullMedicine or movies

                    2 How to produce it

                    bullAutomated or manual labor

                    bullExpensive or cheap materials

                    bullDomestic or overseas labor

                    3 For whom to produce it

                    bullThe wealthy or the needybullThe sick or the healthy

                    Application Activity

                    bull In groups of 2-3 create your own country (name it please)

                    bull With your countryrsquos name explain the Population geography and general population

                    information (iehellipbull Choose 5 items for your country to produce and

                    answer the three societal questions for eachALSO explain why this material would help your

                    economy thrivereach economic efficiencybull Create an advertisement for your country

                    withhellip Images representing what you produce and a

                    slogan for why your country is awesome

                    EQs

                    bullHow does scarcity impact decision making

                    Objectives amp Essential QuestionsbullObjectives

                    I will be able to create and reflect on a budget given new economics content

                    I will be able to understand scarcity and our mixed economy

                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                    Group Activity Budget Activity

                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                    How do we satisfy our economic wants

                    bull We buy goods or services

                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                    bull Service ndash work done by someone else for which someone is willing to pay

                    How do we make goods amp services

                    bull Use Factors of Production - The productive resources that go into producing goods and services

                    Production Equation

                    LAND + LABOR + CAPITAL = GOODSERVICE

                    inputs output

                    Economic Interdependence

                    bullWhat does lsquointerdependencersquo mean

                    bullIs our world becoming economic interdependent or independent

                    bullEconomic Interdependence the actions of one part of the

                    country (world) has an impact on what happens elsewhere

                    Wants amp Needs gt

                    Resources

                    Because of scarcity we

                    have to make choices

                    How do we make a choice What do we give up

                    What does this remind you of from our government unit

                    Making Choices to Deal With Scarcity

                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                    decision over another

                    ExampleshellipbullSome choices are easy to makehellip

                    HmmhellipShould I have pizza or a hoagie for lunch today

                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                    school today or should I sleep in

                    Task Reflecting on Personal Trade-offshellip

                    In the end what helped you decide amongst your choices

                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                    tradeoffs for that decision

                    Be prepared to share

                    Opportunity Cost

                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                    Opportunity Cost ndash The best thing we give up to get what

                    we want

                    What else influences your choices

                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                    FinallyhellipWhy it Matters

                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                    better decision-maker

                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                    You always have to give something uphelliprdquo

                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                    decisions

                    Visualizing the Relationshiphellip

                    Limited Resources amp Unlimited Wants

                    Scarcity

                    Trade-offs (choices)

                    Opportunity Costs

                    ObjectivesEssential Questions

                    bullObjectivebullI will be able to understand (and teach)

                    the three different types of economies

                    bullEssential Question How do the different types of economies work

                    How Can We Measure What We Gain and Lose When

                    Making Choices

                    Answer With a Production Possibilities Frontier

                    Production Possibilities Frontier

                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                    PPF Assumptions

                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                    Production Possibilities Curve

                    CD

                    E

                    OU

                    TP

                    UT

                    OF

                    CO

                    NS

                    UM

                    ER

                    GO

                    OD

                    S

                    (un

                    its

                    per

                    yea

                    r)

                    OUTPUT OF MILITARY GOODS (units per year)

                    A

                    BO

                    XF

                    G

                    Limited resources necessitate choices about WHAT to produce

                    The Choices Nations Make

                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                    bullProduce military goods or consumer goods

                    Economic Growth

                    2000 production possibilities

                    1900 production possibilities

                    OU

                    TP

                    UT

                    OF

                    CO

                    NS

                    UM

                    ER

                    GO

                    OD

                    S(u

                    nits

                    per

                    yea

                    r)

                    OUTPUT OF MILITARY GOODS (units per year)

                    Production possibilities increases with more resources and technology

                    The Classic Guns and Butter example

                    Guns

                    Butter

                    10000 20000 30000 40000 50000

                    1000009500085000

                    70000

                    5000040000

                    BA

                    C

                    D

                    E

                    F

                    At point A all resources are used for butter

                    Moving from point A to point B requires shifting resources out of butter and into guns

                    At point F all resources are used for Guns

                    Productivitybull A PPF can help us see how efficient our

                    choices are

                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                    Locations on a PPF

                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                    Food

                    Computer

                    4

                    3

                    2

                    1

                    1 2 3 4

                    OC between 1 and 2 computers = 1 Food

                    UnitOC between 3 and 4 computers = 1 Food

                    Unit

                    Constantly giving up the same quantity of food to get

                    additional computers

                    STRAIGHT-LINE PPFs Constant OC

                    BOWED-OUT PPFs VaryingIncreasing OC

                    Principle of Increasing Costs

                    As a society produces more of one product the OC of producing

                    that product increases because we are using more resources that are poorly suited to produce it

                    Economic Systems

                    An economic system is the way a society coordinates the production and consumption of goods amp services

                    How a society answers the three basic economic questions determines which type of economic system they are

                    Three Types of Economic Systems Command Traditional Market

                    Jigsaw activity

                    bullYou will be placed in groups of 3 and assigned a type of economy

                    bullYou will have 7 minutes to read and come up with 4 key components

                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                    Economic amp Social Goals of an Economic System

                    bull Economic Freedom

                    bull Economic Efficiency

                    bull Economic Equity

                    bull Economic Security

                    Economic Stability

                    Economic Growth

                    Review of Economic Systems

                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                    bullIn a market economy individual producers and consumers coordinate economic activity

                    What are the most important goals of each economic system

                    bullTraditionalSecurity and

                    StabilitybullCommand

                    Equity and Security

                    bullMARKETEfficiency and

                    Freedom

                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                    at the expense of another (TRADEOFFS)

                    Which economic system does the US use

                    The American Economic System

                    bullWe have a mixed market economy

                    COMMAND MARKET

                    The US mixed economybull In a mixed economyhellip

                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                    Think backhellip

                    bullWhat does this remind you of from the beginning of the unit

                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                    2 Limited government

                    3 Equal opportunity

                    4 Competition

                    5 Profit motive

                    6 Property Rights

                    7 Binding Contracts

                    Understanding how all parts fit together

                    Circular Flow of Economic Activity Represents a market economy

                    2 main ldquomarketsrdquoProduct Market Factor Market

                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                    Shows interdependence between

                    businesses and individuals

                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                    bull Using what you have learned this unit and using the textbook

                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                    Do you remember

                    bullWrite the following question downbullWhy does the United States have a

                    democracy and mixed economy

                    • Foundations of Government and Economics
                    • On your blank piece of paperhellip
                    • Slide 3
                    • Warm-Up 1 - 9414
                    • Introductory thoughts hellip
                    • Slide 6
                    • 2 How about to your life
                    • Slide 8
                    • Slide 9
                    • Slide 10
                    • Slide 11
                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                    • Warm up 2bndash In Journal-
                    • Economist and Politician Assumptions
                    • Individualism
                    • Quote activity
                    • Quote breakdown
                    • Warm Up 3- Current Event 9814
                    • Purpose of Government
                    • Slide 20
                    • 3 Theorists
                    • Activity
                    • Origins of American Government A customized government
                    • Origins of American Government A customized government (2)
                    • Origins of American Government A customized government (3)
                    • With which theory do you agree more Why
                    • The ldquoOriginal Dilemmardquo
                    • Warm Up 5 Hobbes and Locke
                    • Groups Block 2
                    • Groups Block 4
                    • Balloon Game
                    • You will have 10 minutes to get as many filled balloons on the
                    • Balloon Game Debriefing
                    • Political Theories
                    • Social Contract
                    • Natural Rights
                    • Democracy
                    • Concepts of Government
                    • Warm up 6 ndash 91114
                    • Warm Up 7
                    • And after the Constitution
                    • Activity (2)
                    • Picture Activity
                    • Constitutional Convention
                    • Purpose of the Convention
                    • VA Plan v NJ Plan
                    • Virginia Plan ldquoLarge State Planrdquo
                    • New Jersey Plan ldquoSmall State Planrdquo
                    • Your Task
                    • Closure
                    • States agree
                    • Quote
                    • Structure of Constitution
                    • Structure of Constitution
                    • 6 Purpose of Government
                    • Structure of Constitution (2)
                    • Structure of Constitution (3)
                    • Principles of Constitution
                    • Activity
                    • Slide 60
                    • Check for Understanding Six Principles
                    • Question 1
                    • Question 2
                    • Question 3
                    • Question 4
                    • Question 5
                    • Question 6
                    • Question 7
                    • Question 8
                    • Groups
                    • Separation of Powers
                    • Video
                    • Checks and Balances
                    • Slide 74
                    • Checks and balances
                    • Basic Principles
                    • Self- Worth
                    • Equality
                    • Compromise
                    • Individual Freedom
                    • Write your ownhellip
                    • Slide 82
                    • TED Talk
                    • Closure
                    • What is Economics
                    • Economics ishellip
                    • Back to our assumptionshellip
                    • Scarcity refers to the limited number of resources (factors of
                    • For the videohellip
                    • Slide 90
                    • Post Videohellip
                    • Advertisement
                    • Political Cartoon Analysis
                    • Factors of Production
                    • TASK
                    • The price ofhellip
                    • Economic efficiency is achieved when all available resources ar
                    • 1 What to produce
                    • 2 How to produce it
                    • 3 For whom to produce it
                    • Application Activity
                    • EQs
                    • Objectives amp Essential Questions
                    • Group Activity Budget Activity
                    • Slide 105
                    • How do we satisfy our economic wants
                    • How do we make goods amp services
                    • Economic Interdependence
                    • Slide 109
                    • Making Choices to Deal With Scarcity
                    • Exampleshellip
                    • Task Reflecting on Personal Trade-offshellip
                    • Opportunity Cost
                    • What else influences your choices
                    • Finallyhellip Why it Matters
                    • Visualizing the Relationshiphellip
                    • ObjectivesEssential Questions
                    • How Can We Measure What We Gain and Lose When Making Choices
                    • Production Possibilities Frontier
                    • PPF Assumptions
                    • Slide 121
                    • Production Possibilities Curve
                    • The Choices Nations Make
                    • Economic Growth
                    • The Classic Guns and Butter example
                    • Productivity
                    • Locations on a PPF
                    • Slide 128
                    • BOWED-OUT PPFs VaryingIncreasing OC
                    • Economic Systems
                    • Jigsaw activity
                    • Slide 132
                    • Economic amp Social Goals of an Economic System
                    • Review of Economic Systems
                    • Slide 135
                    • What are the most important goals of each economic system
                    • Which economic system does the US use
                    • The American Economic System
                    • The US mixed economy
                    • Slide 140
                    • Think backhellip
                    • US Economic System Characteristics
                    • Slide 143
                    • Understanding how all parts fit together
                    • Marriage Vows
                    • Do you remember
                    • Slide 147

                      Warm Up -2a- 9514The New York Times and CBS News Pollhellip

                      How much of the time do you think you can trust the government in Washington to do what is right just about always most of the time or only some of the timerdquo 5 (1 person in 20) responded ldquojust about

                      alwaysrdquo 4 responded ldquomost of the timerdquo 87 responded ldquoonly some of the timerdquo 4 responded never

                      How can you link this poll to why it is important to study our government and economic system

                      Warm up 2bndash In Journal-

                      Economist and Politician Assumptions

                      bull When studying humans people in politics and economics think abouthellip

                      bull Self worth individuals have worth and value their lives

                      bull Self interest people pursue their own interests to improve their lives

                      bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

                      bull Equilibrium Balance of competing forces

                      Individualism

                      bullWhat words do you associate with individualism

                      bullOur definitionideology or social outlook that emphasizes

                      the moral worth of the individual

                      Quote activity

                      bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

                      sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

                      your sheetbull You may then have 10 minutes to share

                      your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

                      Quote breakdown

                      bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

                      obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

                      way it does not existrdquo

                      bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

                      societyrdquo ldquoAn individual has not started living until he can rise above the narrow

                      confines of his individualistic concerns to the broader concerns of all humanityrdquo

                      bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

                      that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

                      ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

                      ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

                      Warm Up 3- Current Event 9814

                      bullTake a minute to write about a current event you have recently learned about within the past week

                      Purpose of Government

                      We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                      According to the Preamble what are the 6 purposes of our government

                      Purpose of Government

                      form a more perfect Union establish Justice the law must be

                      reasonable fair and impartialinsure domestic Tranquility order is

                      essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                      guarantee civil rights and liberties

                      3 Theorists bullThree classical theorists believed in the

                      need for government for different reasonsEach reason accepted the assumption that

                      men are invested in their own self-interestbullHobbes Locke Rousseau

                      ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                      governmentbullDecide which idea is a belief about the natural

                      state of manbullBased on these ideas decide which quote

                      belongs to which theoristbullExplain the quote in your own words and how

                      it relates to each personrsquos beliefs about government and the natural state of man

                      Origins of American Government A customized government

                      bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                      Developed notion of social contract between rulers and their subjects

                      Believed people were too selfish to govern themselves

                      ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                      Origins of American Government A customized government

                      bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                      Ideas helped lay foundations for democratic government

                      Believed people formed governments to protect their rights and were innately good

                      ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                      Origins of American Government A customized government

                      bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                      Believed people were naturally good but corrupted and enslaved by society

                      Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                      ldquoForce does not create right obedience is due to only legitimate powersrdquo

                      With which theory do you agree more Why

                      John Locke Thomas Hobbes

                      The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                      purpose of government Government needs to attain power from the

                      people in order to perform any functions

                      CLOSURE How much power is too much How much

                      liberty should be given up hellip bullThis represented a debated trade offhellip

                      Clash of order and freedom= Original Dilemma

                      Warm Up 5 Hobbes and Locke

                      Hobbes

                      Locke

                      Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                      Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                      Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                      Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                      Group 4Mike KingChris ConteKarlyRyanKatieDJ

                      Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                      Group 2JakeShawnKatieDrewWyattKatAshlyn

                      Group 3JennaCeatonJeffLivSteveGarciaTom

                      Group 4SuzetteJulianneAlekDanScottSpenserNick R

                      Balloon Game Objective

                      To be the team with the most filled balloons taped into the square on the board Rules

                      1 No running 2 No touching classmates hellip that does

                      not mean you canrsquot touch their balloons hellip

                      3 No removal of balloons once they are taped to the board

                      You will have less than 5 minutes to come up with a strategy in your group

                      You will have 10 minutes to get as many filled balloons on the square as possible

                      End

                      >

                      Balloon Game Debriefing What type of behavior did you see during the

                      game

                      List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                      Why do you think you needed more ldquorulesrdquo during

                      this game

                      How does this relate to this class How does it relate to the theorists

                      Political Theories

                      Force Theory small group forced

                      all to submit to person andor grouprsquos rule

                      Evolutionary Theory developed naturally out of the

                      evolution of the family

                      Divine Right held that God created the state

                      and God had given those of royal birth

                      ldquodivine rightrdquo to rule

                      Social Contract argues that state arose out of a

                      voluntary act of free people State exists only

                      to serve the will of the people

                      Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                      power to a government to protect them and serve their interests

                      bullFree to remove that power at any timebullGovernment can only create laws when it

                      has the consent of the governedbullExamples

                      Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                      cannot be taken away by any one (government)

                      bull Government exists to secure our natural rights and is based on the consent of those who are governed

                      bull Idea of consent derived from social contract theory

                      Democracybull A system of government in which in

                      theory the people rule either directly or indirectly

                      bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                      Concepts of Governmentbull Ordered governmentmdashneed for order

                      bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                      bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                      Warm up 6 ndash 91114

                      Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                      are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                      Warm Up 7

                      bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                      And after the ConstitutionFederalism vs Anti-Federalism

                      bullFederalists believed Favored ratification believed Constitution was

                      strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                      bullAnti-Federalists believed Opposed ratification believed Constitution

                      was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                      Activity

                      bullEach of you will get a card it either has a termperson or a definition on it

                      bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                      bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                      secret with your partner

                      Picture Activity

                      bullGallery Walk

                      Constitutional Convention

                      bullMet in Philadelphia in 1787

                      bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                      bullThese men were collectively known as ldquoThe Framersrdquo

                      Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                      Confederation bullDelegates quickly realized they were

                      meeting to create a new government (with 3 branches)

                      VA Plan v NJ Plan

                      Several plans were proposed to correct the weaknesses of the Articles

                      bullVirginia PlanbullNew Jersey Plan

                      Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                      Virginia Plan ldquoLarge State Planrdquo

                      bullStrong central govrsquotbullL Bicameral Congress

                      Representation based on population

                      bullE ldquoPresidentrdquo Chosen by Congress

                      bullJ 1+ supreme courts with lower courtsChosen by Congress

                      New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                      Each state would have = representationExpand power to tax amp regulate trade

                      bullE Two-person presidencyChosen by Congress able to be removed

                      bullJ Single Supreme CourtChosen by Executive

                      Your Task

                      Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                      them to choose your planUse catchy phrasesslogans and be sure to

                      include the historical features of your plan (VA or NJ)

                      At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                      Closure

                      bullWhat do you think (or know) happens to these two plans

                      States agreebull States agree to (ratify) the Constitution

                      only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                      bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                      Quote

                      bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                      bullWhat words stick to you in this quote Why

                      Structure of Constitutionbull Provides basic

                      framework for US government

                      bull Outlines basic principles structure and processes

                      bull Three partsmdashPreambleArticlesAmendments

                      Structure of Constitution bull Preamble

                      Introduction to the Constitution Lists ideas that the government should stand for

                      and states purposes We the people of the United States in Order

                      to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                      6 Purpose of Government bull Form a More Perfect Union

                      bull Establish Justice bull Insure Domestic Tranquility

                      bull Provide for the Common Defense

                      bull Promote the General Welfare

                      bull Secure the Blessings of Liberty

                      For each phrase consider the followinghellip

                      1 Why do you think the Framerrsquos put this phrase in the US Constitution

                      2 Is this phrase important today

                      Structure of Constitution bullArticles

                      Main body of the Constitution Lay out basic structure of the national

                      governmentFurther broken down into sections and clauses

                      Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                      Clause oaths of office

                      Article VII Ratification

                      Structure of Constitution

                      bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                      Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                      bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                      Activity

                      Activity bull STEP 1 bull Fill in the graphic

                      organizer in your guided notes packet You have 8 minutes on your own to do this

                      bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                      Principle Explanation

                      Popular Sovereignty Idea that people are the source of all power held by the government

                      Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                      Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                      Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                      Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                      Federalism Divides the power between the central government and the States

                      Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                      Question 1

                      bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                      Popular Sovereignty

                      Question 2

                      bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                      Limited Government

                      Question 3

                      bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                      Limited Government

                      Question 4

                      bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                      SEPARATION OF POWERS

                      Question 5

                      bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                      Checks and Balances

                      Question 6

                      bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                      CHECKS AND BALANCES

                      Question 7

                      bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                      JUDICIAL REVIEW

                      Question 8

                      bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                      Federalism

                      GroupsPopular

                      SovereigntySeparation of

                      PowersFederalism

                      bull bull bull

                      Judicial Review

                      Limited Government

                      Checks and Balances

                      bull bull bull

                      Separation of Powers

                      bull Legislative branchmdashmakes the laws

                      bull Executive branchmdashenforces the laws

                      bull Judicial branchmdashinterprets the law

                      Video

                      bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                      Checks and Balances

                      Checks and balances

                      bullIn what was do the branches check on one another

                      bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                      Basic Principles

                      bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                      Self- Worth

                      bull A recognition of the fundamental worth of every person

                      bull The democratic process reflects the collective set of individuals who make up society

                      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                      Compromise

                      bull A matter of compromise to determine the position most acceptable to the largest number of people

                      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                      bullWhy is compromise important

                      Individual Freedombull Right of the

                      individual to be free as far as the freedom of all will allow

                      bull Democracy does not and cannot insist on the absolute freedom of the individual person

                      Write your ownhellipbull Now that you know what the foundations of

                      government arehellip Create your own Constitution (Or social contract)

                      What do you think is important to include What do you think could be taken out

                      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                      Preamble (brief introduction) Articles (what should it include based on what we

                      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                      change it)

                      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                      paper

                      TED Talk

                      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                      Closure

                      bullExplain two principles of the constitution and how are they connected

                      What is Economics

                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                      Important Parts of Economicsndash

                      CHOICESSCARCITY

                      Economics ishellip

                      bullDependent upon assumptions

                      bullDependent upon simplification of reality

                      Back to our assumptionshellip

                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                      bullAll sellers seek to maximize profits

                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                      For the videohellip

                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                      Post Videohellip

                      bullDefine the main idea of the video in 4-5 words

                      Advertisement

                      bullKnowing some of the basics about what economics is and why we study ithellip

                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                      3 images that represent different economic ideas

                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                      1 slogan that represents why economics is an important course to take

                      Political Cartoon Analysis

                      Factors of Production bull LAND

                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                      soil minerals water and plants

                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                      into producing goodsservices

                      bull CAPITAL Includes tools machines buildings and

                      technologies

                      bull ENTREPRENEUR Risk taker who is responsible for combining

                      land labor and capital to produce goods and services

                      TASK

                      bullTask Why are entrepreneurs the driving force in our economy

                      bullAnswer in 2-3 sentences

                      The price ofhellip

                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                      Economic efficiency is achieved when all available resources are being used

                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                      1 What to produce

                      bullShould it be military or civilian goods

                      bullFood or clothingbullMedicine or movies

                      2 How to produce it

                      bullAutomated or manual labor

                      bullExpensive or cheap materials

                      bullDomestic or overseas labor

                      3 For whom to produce it

                      bullThe wealthy or the needybullThe sick or the healthy

                      Application Activity

                      bull In groups of 2-3 create your own country (name it please)

                      bull With your countryrsquos name explain the Population geography and general population

                      information (iehellipbull Choose 5 items for your country to produce and

                      answer the three societal questions for eachALSO explain why this material would help your

                      economy thrivereach economic efficiencybull Create an advertisement for your country

                      withhellip Images representing what you produce and a

                      slogan for why your country is awesome

                      EQs

                      bullHow does scarcity impact decision making

                      Objectives amp Essential QuestionsbullObjectives

                      I will be able to create and reflect on a budget given new economics content

                      I will be able to understand scarcity and our mixed economy

                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                      Group Activity Budget Activity

                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                      How do we satisfy our economic wants

                      bull We buy goods or services

                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                      bull Service ndash work done by someone else for which someone is willing to pay

                      How do we make goods amp services

                      bull Use Factors of Production - The productive resources that go into producing goods and services

                      Production Equation

                      LAND + LABOR + CAPITAL = GOODSERVICE

                      inputs output

                      Economic Interdependence

                      bullWhat does lsquointerdependencersquo mean

                      bullIs our world becoming economic interdependent or independent

                      bullEconomic Interdependence the actions of one part of the

                      country (world) has an impact on what happens elsewhere

                      Wants amp Needs gt

                      Resources

                      Because of scarcity we

                      have to make choices

                      How do we make a choice What do we give up

                      What does this remind you of from our government unit

                      Making Choices to Deal With Scarcity

                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                      decision over another

                      ExampleshellipbullSome choices are easy to makehellip

                      HmmhellipShould I have pizza or a hoagie for lunch today

                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                      school today or should I sleep in

                      Task Reflecting on Personal Trade-offshellip

                      In the end what helped you decide amongst your choices

                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                      tradeoffs for that decision

                      Be prepared to share

                      Opportunity Cost

                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                      Opportunity Cost ndash The best thing we give up to get what

                      we want

                      What else influences your choices

                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                      FinallyhellipWhy it Matters

                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                      better decision-maker

                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                      You always have to give something uphelliprdquo

                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                      decisions

                      Visualizing the Relationshiphellip

                      Limited Resources amp Unlimited Wants

                      Scarcity

                      Trade-offs (choices)

                      Opportunity Costs

                      ObjectivesEssential Questions

                      bullObjectivebullI will be able to understand (and teach)

                      the three different types of economies

                      bullEssential Question How do the different types of economies work

                      How Can We Measure What We Gain and Lose When

                      Making Choices

                      Answer With a Production Possibilities Frontier

                      Production Possibilities Frontier

                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                      PPF Assumptions

                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                      Production Possibilities Curve

                      CD

                      E

                      OU

                      TP

                      UT

                      OF

                      CO

                      NS

                      UM

                      ER

                      GO

                      OD

                      S

                      (un

                      its

                      per

                      yea

                      r)

                      OUTPUT OF MILITARY GOODS (units per year)

                      A

                      BO

                      XF

                      G

                      Limited resources necessitate choices about WHAT to produce

                      The Choices Nations Make

                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                      bullProduce military goods or consumer goods

                      Economic Growth

                      2000 production possibilities

                      1900 production possibilities

                      OU

                      TP

                      UT

                      OF

                      CO

                      NS

                      UM

                      ER

                      GO

                      OD

                      S(u

                      nits

                      per

                      yea

                      r)

                      OUTPUT OF MILITARY GOODS (units per year)

                      Production possibilities increases with more resources and technology

                      The Classic Guns and Butter example

                      Guns

                      Butter

                      10000 20000 30000 40000 50000

                      1000009500085000

                      70000

                      5000040000

                      BA

                      C

                      D

                      E

                      F

                      At point A all resources are used for butter

                      Moving from point A to point B requires shifting resources out of butter and into guns

                      At point F all resources are used for Guns

                      Productivitybull A PPF can help us see how efficient our

                      choices are

                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                      Locations on a PPF

                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                      Food

                      Computer

                      4

                      3

                      2

                      1

                      1 2 3 4

                      OC between 1 and 2 computers = 1 Food

                      UnitOC between 3 and 4 computers = 1 Food

                      Unit

                      Constantly giving up the same quantity of food to get

                      additional computers

                      STRAIGHT-LINE PPFs Constant OC

                      BOWED-OUT PPFs VaryingIncreasing OC

                      Principle of Increasing Costs

                      As a society produces more of one product the OC of producing

                      that product increases because we are using more resources that are poorly suited to produce it

                      Economic Systems

                      An economic system is the way a society coordinates the production and consumption of goods amp services

                      How a society answers the three basic economic questions determines which type of economic system they are

                      Three Types of Economic Systems Command Traditional Market

                      Jigsaw activity

                      bullYou will be placed in groups of 3 and assigned a type of economy

                      bullYou will have 7 minutes to read and come up with 4 key components

                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                      Economic amp Social Goals of an Economic System

                      bull Economic Freedom

                      bull Economic Efficiency

                      bull Economic Equity

                      bull Economic Security

                      Economic Stability

                      Economic Growth

                      Review of Economic Systems

                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                      bullIn a market economy individual producers and consumers coordinate economic activity

                      What are the most important goals of each economic system

                      bullTraditionalSecurity and

                      StabilitybullCommand

                      Equity and Security

                      bullMARKETEfficiency and

                      Freedom

                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                      at the expense of another (TRADEOFFS)

                      Which economic system does the US use

                      The American Economic System

                      bullWe have a mixed market economy

                      COMMAND MARKET

                      The US mixed economybull In a mixed economyhellip

                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                      Think backhellip

                      bullWhat does this remind you of from the beginning of the unit

                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                      2 Limited government

                      3 Equal opportunity

                      4 Competition

                      5 Profit motive

                      6 Property Rights

                      7 Binding Contracts

                      Understanding how all parts fit together

                      Circular Flow of Economic Activity Represents a market economy

                      2 main ldquomarketsrdquoProduct Market Factor Market

                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                      Shows interdependence between

                      businesses and individuals

                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                      bull Using what you have learned this unit and using the textbook

                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                      Do you remember

                      bullWrite the following question downbullWhy does the United States have a

                      democracy and mixed economy

                      • Foundations of Government and Economics
                      • On your blank piece of paperhellip
                      • Slide 3
                      • Warm-Up 1 - 9414
                      • Introductory thoughts hellip
                      • Slide 6
                      • 2 How about to your life
                      • Slide 8
                      • Slide 9
                      • Slide 10
                      • Slide 11
                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                      • Warm up 2bndash In Journal-
                      • Economist and Politician Assumptions
                      • Individualism
                      • Quote activity
                      • Quote breakdown
                      • Warm Up 3- Current Event 9814
                      • Purpose of Government
                      • Slide 20
                      • 3 Theorists
                      • Activity
                      • Origins of American Government A customized government
                      • Origins of American Government A customized government (2)
                      • Origins of American Government A customized government (3)
                      • With which theory do you agree more Why
                      • The ldquoOriginal Dilemmardquo
                      • Warm Up 5 Hobbes and Locke
                      • Groups Block 2
                      • Groups Block 4
                      • Balloon Game
                      • You will have 10 minutes to get as many filled balloons on the
                      • Balloon Game Debriefing
                      • Political Theories
                      • Social Contract
                      • Natural Rights
                      • Democracy
                      • Concepts of Government
                      • Warm up 6 ndash 91114
                      • Warm Up 7
                      • And after the Constitution
                      • Activity (2)
                      • Picture Activity
                      • Constitutional Convention
                      • Purpose of the Convention
                      • VA Plan v NJ Plan
                      • Virginia Plan ldquoLarge State Planrdquo
                      • New Jersey Plan ldquoSmall State Planrdquo
                      • Your Task
                      • Closure
                      • States agree
                      • Quote
                      • Structure of Constitution
                      • Structure of Constitution
                      • 6 Purpose of Government
                      • Structure of Constitution (2)
                      • Structure of Constitution (3)
                      • Principles of Constitution
                      • Activity
                      • Slide 60
                      • Check for Understanding Six Principles
                      • Question 1
                      • Question 2
                      • Question 3
                      • Question 4
                      • Question 5
                      • Question 6
                      • Question 7
                      • Question 8
                      • Groups
                      • Separation of Powers
                      • Video
                      • Checks and Balances
                      • Slide 74
                      • Checks and balances
                      • Basic Principles
                      • Self- Worth
                      • Equality
                      • Compromise
                      • Individual Freedom
                      • Write your ownhellip
                      • Slide 82
                      • TED Talk
                      • Closure
                      • What is Economics
                      • Economics ishellip
                      • Back to our assumptionshellip
                      • Scarcity refers to the limited number of resources (factors of
                      • For the videohellip
                      • Slide 90
                      • Post Videohellip
                      • Advertisement
                      • Political Cartoon Analysis
                      • Factors of Production
                      • TASK
                      • The price ofhellip
                      • Economic efficiency is achieved when all available resources ar
                      • 1 What to produce
                      • 2 How to produce it
                      • 3 For whom to produce it
                      • Application Activity
                      • EQs
                      • Objectives amp Essential Questions
                      • Group Activity Budget Activity
                      • Slide 105
                      • How do we satisfy our economic wants
                      • How do we make goods amp services
                      • Economic Interdependence
                      • Slide 109
                      • Making Choices to Deal With Scarcity
                      • Exampleshellip
                      • Task Reflecting on Personal Trade-offshellip
                      • Opportunity Cost
                      • What else influences your choices
                      • Finallyhellip Why it Matters
                      • Visualizing the Relationshiphellip
                      • ObjectivesEssential Questions
                      • How Can We Measure What We Gain and Lose When Making Choices
                      • Production Possibilities Frontier
                      • PPF Assumptions
                      • Slide 121
                      • Production Possibilities Curve
                      • The Choices Nations Make
                      • Economic Growth
                      • The Classic Guns and Butter example
                      • Productivity
                      • Locations on a PPF
                      • Slide 128
                      • BOWED-OUT PPFs VaryingIncreasing OC
                      • Economic Systems
                      • Jigsaw activity
                      • Slide 132
                      • Economic amp Social Goals of an Economic System
                      • Review of Economic Systems
                      • Slide 135
                      • What are the most important goals of each economic system
                      • Which economic system does the US use
                      • The American Economic System
                      • The US mixed economy
                      • Slide 140
                      • Think backhellip
                      • US Economic System Characteristics
                      • Slide 143
                      • Understanding how all parts fit together
                      • Marriage Vows
                      • Do you remember
                      • Slide 147

                        How can you link this poll to why it is important to study our government and economic system

                        Warm up 2bndash In Journal-

                        Economist and Politician Assumptions

                        bull When studying humans people in politics and economics think abouthellip

                        bull Self worth individuals have worth and value their lives

                        bull Self interest people pursue their own interests to improve their lives

                        bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

                        bull Equilibrium Balance of competing forces

                        Individualism

                        bullWhat words do you associate with individualism

                        bullOur definitionideology or social outlook that emphasizes

                        the moral worth of the individual

                        Quote activity

                        bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

                        sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

                        your sheetbull You may then have 10 minutes to share

                        your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

                        Quote breakdown

                        bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

                        obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

                        way it does not existrdquo

                        bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

                        societyrdquo ldquoAn individual has not started living until he can rise above the narrow

                        confines of his individualistic concerns to the broader concerns of all humanityrdquo

                        bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

                        that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

                        ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

                        ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

                        Warm Up 3- Current Event 9814

                        bullTake a minute to write about a current event you have recently learned about within the past week

                        Purpose of Government

                        We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                        According to the Preamble what are the 6 purposes of our government

                        Purpose of Government

                        form a more perfect Union establish Justice the law must be

                        reasonable fair and impartialinsure domestic Tranquility order is

                        essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                        guarantee civil rights and liberties

                        3 Theorists bullThree classical theorists believed in the

                        need for government for different reasonsEach reason accepted the assumption that

                        men are invested in their own self-interestbullHobbes Locke Rousseau

                        ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                        governmentbullDecide which idea is a belief about the natural

                        state of manbullBased on these ideas decide which quote

                        belongs to which theoristbullExplain the quote in your own words and how

                        it relates to each personrsquos beliefs about government and the natural state of man

                        Origins of American Government A customized government

                        bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                        Developed notion of social contract between rulers and their subjects

                        Believed people were too selfish to govern themselves

                        ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                        Origins of American Government A customized government

                        bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                        Ideas helped lay foundations for democratic government

                        Believed people formed governments to protect their rights and were innately good

                        ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                        Origins of American Government A customized government

                        bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                        Believed people were naturally good but corrupted and enslaved by society

                        Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                        ldquoForce does not create right obedience is due to only legitimate powersrdquo

                        With which theory do you agree more Why

                        John Locke Thomas Hobbes

                        The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                        purpose of government Government needs to attain power from the

                        people in order to perform any functions

                        CLOSURE How much power is too much How much

                        liberty should be given up hellip bullThis represented a debated trade offhellip

                        Clash of order and freedom= Original Dilemma

                        Warm Up 5 Hobbes and Locke

                        Hobbes

                        Locke

                        Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                        Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                        Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                        Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                        Group 4Mike KingChris ConteKarlyRyanKatieDJ

                        Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                        Group 2JakeShawnKatieDrewWyattKatAshlyn

                        Group 3JennaCeatonJeffLivSteveGarciaTom

                        Group 4SuzetteJulianneAlekDanScottSpenserNick R

                        Balloon Game Objective

                        To be the team with the most filled balloons taped into the square on the board Rules

                        1 No running 2 No touching classmates hellip that does

                        not mean you canrsquot touch their balloons hellip

                        3 No removal of balloons once they are taped to the board

                        You will have less than 5 minutes to come up with a strategy in your group

                        You will have 10 minutes to get as many filled balloons on the square as possible

                        End

                        >

                        Balloon Game Debriefing What type of behavior did you see during the

                        game

                        List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                        Why do you think you needed more ldquorulesrdquo during

                        this game

                        How does this relate to this class How does it relate to the theorists

                        Political Theories

                        Force Theory small group forced

                        all to submit to person andor grouprsquos rule

                        Evolutionary Theory developed naturally out of the

                        evolution of the family

                        Divine Right held that God created the state

                        and God had given those of royal birth

                        ldquodivine rightrdquo to rule

                        Social Contract argues that state arose out of a

                        voluntary act of free people State exists only

                        to serve the will of the people

                        Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                        power to a government to protect them and serve their interests

                        bullFree to remove that power at any timebullGovernment can only create laws when it

                        has the consent of the governedbullExamples

                        Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                        cannot be taken away by any one (government)

                        bull Government exists to secure our natural rights and is based on the consent of those who are governed

                        bull Idea of consent derived from social contract theory

                        Democracybull A system of government in which in

                        theory the people rule either directly or indirectly

                        bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                        Concepts of Governmentbull Ordered governmentmdashneed for order

                        bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                        bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                        Warm up 6 ndash 91114

                        Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                        are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                        Warm Up 7

                        bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                        And after the ConstitutionFederalism vs Anti-Federalism

                        bullFederalists believed Favored ratification believed Constitution was

                        strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                        bullAnti-Federalists believed Opposed ratification believed Constitution

                        was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                        Activity

                        bullEach of you will get a card it either has a termperson or a definition on it

                        bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                        bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                        secret with your partner

                        Picture Activity

                        bullGallery Walk

                        Constitutional Convention

                        bullMet in Philadelphia in 1787

                        bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                        bullThese men were collectively known as ldquoThe Framersrdquo

                        Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                        Confederation bullDelegates quickly realized they were

                        meeting to create a new government (with 3 branches)

                        VA Plan v NJ Plan

                        Several plans were proposed to correct the weaknesses of the Articles

                        bullVirginia PlanbullNew Jersey Plan

                        Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                        Virginia Plan ldquoLarge State Planrdquo

                        bullStrong central govrsquotbullL Bicameral Congress

                        Representation based on population

                        bullE ldquoPresidentrdquo Chosen by Congress

                        bullJ 1+ supreme courts with lower courtsChosen by Congress

                        New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                        Each state would have = representationExpand power to tax amp regulate trade

                        bullE Two-person presidencyChosen by Congress able to be removed

                        bullJ Single Supreme CourtChosen by Executive

                        Your Task

                        Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                        them to choose your planUse catchy phrasesslogans and be sure to

                        include the historical features of your plan (VA or NJ)

                        At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                        Closure

                        bullWhat do you think (or know) happens to these two plans

                        States agreebull States agree to (ratify) the Constitution

                        only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                        bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                        Quote

                        bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                        bullWhat words stick to you in this quote Why

                        Structure of Constitutionbull Provides basic

                        framework for US government

                        bull Outlines basic principles structure and processes

                        bull Three partsmdashPreambleArticlesAmendments

                        Structure of Constitution bull Preamble

                        Introduction to the Constitution Lists ideas that the government should stand for

                        and states purposes We the people of the United States in Order

                        to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                        6 Purpose of Government bull Form a More Perfect Union

                        bull Establish Justice bull Insure Domestic Tranquility

                        bull Provide for the Common Defense

                        bull Promote the General Welfare

                        bull Secure the Blessings of Liberty

                        For each phrase consider the followinghellip

                        1 Why do you think the Framerrsquos put this phrase in the US Constitution

                        2 Is this phrase important today

                        Structure of Constitution bullArticles

                        Main body of the Constitution Lay out basic structure of the national

                        governmentFurther broken down into sections and clauses

                        Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                        Clause oaths of office

                        Article VII Ratification

                        Structure of Constitution

                        bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                        Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                        bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                        Activity

                        Activity bull STEP 1 bull Fill in the graphic

                        organizer in your guided notes packet You have 8 minutes on your own to do this

                        bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                        Principle Explanation

                        Popular Sovereignty Idea that people are the source of all power held by the government

                        Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                        Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                        Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                        Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                        Federalism Divides the power between the central government and the States

                        Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                        Question 1

                        bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                        Popular Sovereignty

                        Question 2

                        bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                        Limited Government

                        Question 3

                        bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                        Limited Government

                        Question 4

                        bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                        SEPARATION OF POWERS

                        Question 5

                        bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                        Checks and Balances

                        Question 6

                        bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                        CHECKS AND BALANCES

                        Question 7

                        bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                        JUDICIAL REVIEW

                        Question 8

                        bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                        Federalism

                        GroupsPopular

                        SovereigntySeparation of

                        PowersFederalism

                        bull bull bull

                        Judicial Review

                        Limited Government

                        Checks and Balances

                        bull bull bull

                        Separation of Powers

                        bull Legislative branchmdashmakes the laws

                        bull Executive branchmdashenforces the laws

                        bull Judicial branchmdashinterprets the law

                        Video

                        bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                        Checks and Balances

                        Checks and balances

                        bullIn what was do the branches check on one another

                        bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                        Basic Principles

                        bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                        Self- Worth

                        bull A recognition of the fundamental worth of every person

                        bull The democratic process reflects the collective set of individuals who make up society

                        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                        Compromise

                        bull A matter of compromise to determine the position most acceptable to the largest number of people

                        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                        bullWhy is compromise important

                        Individual Freedombull Right of the

                        individual to be free as far as the freedom of all will allow

                        bull Democracy does not and cannot insist on the absolute freedom of the individual person

                        Write your ownhellipbull Now that you know what the foundations of

                        government arehellip Create your own Constitution (Or social contract)

                        What do you think is important to include What do you think could be taken out

                        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                        Preamble (brief introduction) Articles (what should it include based on what we

                        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                        change it)

                        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                        paper

                        TED Talk

                        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                        Closure

                        bullExplain two principles of the constitution and how are they connected

                        What is Economics

                        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                        Important Parts of Economicsndash

                        CHOICESSCARCITY

                        Economics ishellip

                        bullDependent upon assumptions

                        bullDependent upon simplification of reality

                        Back to our assumptionshellip

                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                        bullAll sellers seek to maximize profits

                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                        For the videohellip

                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                        Post Videohellip

                        bullDefine the main idea of the video in 4-5 words

                        Advertisement

                        bullKnowing some of the basics about what economics is and why we study ithellip

                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                        3 images that represent different economic ideas

                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                        1 slogan that represents why economics is an important course to take

                        Political Cartoon Analysis

                        Factors of Production bull LAND

                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                        soil minerals water and plants

                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                        into producing goodsservices

                        bull CAPITAL Includes tools machines buildings and

                        technologies

                        bull ENTREPRENEUR Risk taker who is responsible for combining

                        land labor and capital to produce goods and services

                        TASK

                        bullTask Why are entrepreneurs the driving force in our economy

                        bullAnswer in 2-3 sentences

                        The price ofhellip

                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                        Economic efficiency is achieved when all available resources are being used

                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                        1 What to produce

                        bullShould it be military or civilian goods

                        bullFood or clothingbullMedicine or movies

                        2 How to produce it

                        bullAutomated or manual labor

                        bullExpensive or cheap materials

                        bullDomestic or overseas labor

                        3 For whom to produce it

                        bullThe wealthy or the needybullThe sick or the healthy

                        Application Activity

                        bull In groups of 2-3 create your own country (name it please)

                        bull With your countryrsquos name explain the Population geography and general population

                        information (iehellipbull Choose 5 items for your country to produce and

                        answer the three societal questions for eachALSO explain why this material would help your

                        economy thrivereach economic efficiencybull Create an advertisement for your country

                        withhellip Images representing what you produce and a

                        slogan for why your country is awesome

                        EQs

                        bullHow does scarcity impact decision making

                        Objectives amp Essential QuestionsbullObjectives

                        I will be able to create and reflect on a budget given new economics content

                        I will be able to understand scarcity and our mixed economy

                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                        Group Activity Budget Activity

                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                        How do we satisfy our economic wants

                        bull We buy goods or services

                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                        bull Service ndash work done by someone else for which someone is willing to pay

                        How do we make goods amp services

                        bull Use Factors of Production - The productive resources that go into producing goods and services

                        Production Equation

                        LAND + LABOR + CAPITAL = GOODSERVICE

                        inputs output

                        Economic Interdependence

                        bullWhat does lsquointerdependencersquo mean

                        bullIs our world becoming economic interdependent or independent

                        bullEconomic Interdependence the actions of one part of the

                        country (world) has an impact on what happens elsewhere

                        Wants amp Needs gt

                        Resources

                        Because of scarcity we

                        have to make choices

                        How do we make a choice What do we give up

                        What does this remind you of from our government unit

                        Making Choices to Deal With Scarcity

                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                        decision over another

                        ExampleshellipbullSome choices are easy to makehellip

                        HmmhellipShould I have pizza or a hoagie for lunch today

                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                        school today or should I sleep in

                        Task Reflecting on Personal Trade-offshellip

                        In the end what helped you decide amongst your choices

                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                        tradeoffs for that decision

                        Be prepared to share

                        Opportunity Cost

                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                        Opportunity Cost ndash The best thing we give up to get what

                        we want

                        What else influences your choices

                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                        FinallyhellipWhy it Matters

                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                        better decision-maker

                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                        You always have to give something uphelliprdquo

                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                        decisions

                        Visualizing the Relationshiphellip

                        Limited Resources amp Unlimited Wants

                        Scarcity

                        Trade-offs (choices)

                        Opportunity Costs

                        ObjectivesEssential Questions

                        bullObjectivebullI will be able to understand (and teach)

                        the three different types of economies

                        bullEssential Question How do the different types of economies work

                        How Can We Measure What We Gain and Lose When

                        Making Choices

                        Answer With a Production Possibilities Frontier

                        Production Possibilities Frontier

                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                        PPF Assumptions

                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                        Production Possibilities Curve

                        CD

                        E

                        OU

                        TP

                        UT

                        OF

                        CO

                        NS

                        UM

                        ER

                        GO

                        OD

                        S

                        (un

                        its

                        per

                        yea

                        r)

                        OUTPUT OF MILITARY GOODS (units per year)

                        A

                        BO

                        XF

                        G

                        Limited resources necessitate choices about WHAT to produce

                        The Choices Nations Make

                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                        bullProduce military goods or consumer goods

                        Economic Growth

                        2000 production possibilities

                        1900 production possibilities

                        OU

                        TP

                        UT

                        OF

                        CO

                        NS

                        UM

                        ER

                        GO

                        OD

                        S(u

                        nits

                        per

                        yea

                        r)

                        OUTPUT OF MILITARY GOODS (units per year)

                        Production possibilities increases with more resources and technology

                        The Classic Guns and Butter example

                        Guns

                        Butter

                        10000 20000 30000 40000 50000

                        1000009500085000

                        70000

                        5000040000

                        BA

                        C

                        D

                        E

                        F

                        At point A all resources are used for butter

                        Moving from point A to point B requires shifting resources out of butter and into guns

                        At point F all resources are used for Guns

                        Productivitybull A PPF can help us see how efficient our

                        choices are

                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                        Locations on a PPF

                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                        Food

                        Computer

                        4

                        3

                        2

                        1

                        1 2 3 4

                        OC between 1 and 2 computers = 1 Food

                        UnitOC between 3 and 4 computers = 1 Food

                        Unit

                        Constantly giving up the same quantity of food to get

                        additional computers

                        STRAIGHT-LINE PPFs Constant OC

                        BOWED-OUT PPFs VaryingIncreasing OC

                        Principle of Increasing Costs

                        As a society produces more of one product the OC of producing

                        that product increases because we are using more resources that are poorly suited to produce it

                        Economic Systems

                        An economic system is the way a society coordinates the production and consumption of goods amp services

                        How a society answers the three basic economic questions determines which type of economic system they are

                        Three Types of Economic Systems Command Traditional Market

                        Jigsaw activity

                        bullYou will be placed in groups of 3 and assigned a type of economy

                        bullYou will have 7 minutes to read and come up with 4 key components

                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                        Economic amp Social Goals of an Economic System

                        bull Economic Freedom

                        bull Economic Efficiency

                        bull Economic Equity

                        bull Economic Security

                        Economic Stability

                        Economic Growth

                        Review of Economic Systems

                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                        bullIn a market economy individual producers and consumers coordinate economic activity

                        What are the most important goals of each economic system

                        bullTraditionalSecurity and

                        StabilitybullCommand

                        Equity and Security

                        bullMARKETEfficiency and

                        Freedom

                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                        at the expense of another (TRADEOFFS)

                        Which economic system does the US use

                        The American Economic System

                        bullWe have a mixed market economy

                        COMMAND MARKET

                        The US mixed economybull In a mixed economyhellip

                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                        Think backhellip

                        bullWhat does this remind you of from the beginning of the unit

                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                        2 Limited government

                        3 Equal opportunity

                        4 Competition

                        5 Profit motive

                        6 Property Rights

                        7 Binding Contracts

                        Understanding how all parts fit together

                        Circular Flow of Economic Activity Represents a market economy

                        2 main ldquomarketsrdquoProduct Market Factor Market

                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                        Shows interdependence between

                        businesses and individuals

                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                        bull Using what you have learned this unit and using the textbook

                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                        Do you remember

                        bullWrite the following question downbullWhy does the United States have a

                        democracy and mixed economy

                        • Foundations of Government and Economics
                        • On your blank piece of paperhellip
                        • Slide 3
                        • Warm-Up 1 - 9414
                        • Introductory thoughts hellip
                        • Slide 6
                        • 2 How about to your life
                        • Slide 8
                        • Slide 9
                        • Slide 10
                        • Slide 11
                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                        • Warm up 2bndash In Journal-
                        • Economist and Politician Assumptions
                        • Individualism
                        • Quote activity
                        • Quote breakdown
                        • Warm Up 3- Current Event 9814
                        • Purpose of Government
                        • Slide 20
                        • 3 Theorists
                        • Activity
                        • Origins of American Government A customized government
                        • Origins of American Government A customized government (2)
                        • Origins of American Government A customized government (3)
                        • With which theory do you agree more Why
                        • The ldquoOriginal Dilemmardquo
                        • Warm Up 5 Hobbes and Locke
                        • Groups Block 2
                        • Groups Block 4
                        • Balloon Game
                        • You will have 10 minutes to get as many filled balloons on the
                        • Balloon Game Debriefing
                        • Political Theories
                        • Social Contract
                        • Natural Rights
                        • Democracy
                        • Concepts of Government
                        • Warm up 6 ndash 91114
                        • Warm Up 7
                        • And after the Constitution
                        • Activity (2)
                        • Picture Activity
                        • Constitutional Convention
                        • Purpose of the Convention
                        • VA Plan v NJ Plan
                        • Virginia Plan ldquoLarge State Planrdquo
                        • New Jersey Plan ldquoSmall State Planrdquo
                        • Your Task
                        • Closure
                        • States agree
                        • Quote
                        • Structure of Constitution
                        • Structure of Constitution
                        • 6 Purpose of Government
                        • Structure of Constitution (2)
                        • Structure of Constitution (3)
                        • Principles of Constitution
                        • Activity
                        • Slide 60
                        • Check for Understanding Six Principles
                        • Question 1
                        • Question 2
                        • Question 3
                        • Question 4
                        • Question 5
                        • Question 6
                        • Question 7
                        • Question 8
                        • Groups
                        • Separation of Powers
                        • Video
                        • Checks and Balances
                        • Slide 74
                        • Checks and balances
                        • Basic Principles
                        • Self- Worth
                        • Equality
                        • Compromise
                        • Individual Freedom
                        • Write your ownhellip
                        • Slide 82
                        • TED Talk
                        • Closure
                        • What is Economics
                        • Economics ishellip
                        • Back to our assumptionshellip
                        • Scarcity refers to the limited number of resources (factors of
                        • For the videohellip
                        • Slide 90
                        • Post Videohellip
                        • Advertisement
                        • Political Cartoon Analysis
                        • Factors of Production
                        • TASK
                        • The price ofhellip
                        • Economic efficiency is achieved when all available resources ar
                        • 1 What to produce
                        • 2 How to produce it
                        • 3 For whom to produce it
                        • Application Activity
                        • EQs
                        • Objectives amp Essential Questions
                        • Group Activity Budget Activity
                        • Slide 105
                        • How do we satisfy our economic wants
                        • How do we make goods amp services
                        • Economic Interdependence
                        • Slide 109
                        • Making Choices to Deal With Scarcity
                        • Exampleshellip
                        • Task Reflecting on Personal Trade-offshellip
                        • Opportunity Cost
                        • What else influences your choices
                        • Finallyhellip Why it Matters
                        • Visualizing the Relationshiphellip
                        • ObjectivesEssential Questions
                        • How Can We Measure What We Gain and Lose When Making Choices
                        • Production Possibilities Frontier
                        • PPF Assumptions
                        • Slide 121
                        • Production Possibilities Curve
                        • The Choices Nations Make
                        • Economic Growth
                        • The Classic Guns and Butter example
                        • Productivity
                        • Locations on a PPF
                        • Slide 128
                        • BOWED-OUT PPFs VaryingIncreasing OC
                        • Economic Systems
                        • Jigsaw activity
                        • Slide 132
                        • Economic amp Social Goals of an Economic System
                        • Review of Economic Systems
                        • Slide 135
                        • What are the most important goals of each economic system
                        • Which economic system does the US use
                        • The American Economic System
                        • The US mixed economy
                        • Slide 140
                        • Think backhellip
                        • US Economic System Characteristics
                        • Slide 143
                        • Understanding how all parts fit together
                        • Marriage Vows
                        • Do you remember
                        • Slide 147

                          Economist and Politician Assumptions

                          bull When studying humans people in politics and economics think abouthellip

                          bull Self worth individuals have worth and value their lives

                          bull Self interest people pursue their own interests to improve their lives

                          bull CompetitionCooperation When seeking self-interest in a community or society people tend to do cooperate or compete depending on desired outcome

                          bull Equilibrium Balance of competing forces

                          Individualism

                          bullWhat words do you associate with individualism

                          bullOur definitionideology or social outlook that emphasizes

                          the moral worth of the individual

                          Quote activity

                          bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

                          sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

                          your sheetbull You may then have 10 minutes to share

                          your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

                          Quote breakdown

                          bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

                          obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

                          way it does not existrdquo

                          bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

                          societyrdquo ldquoAn individual has not started living until he can rise above the narrow

                          confines of his individualistic concerns to the broader concerns of all humanityrdquo

                          bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

                          that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

                          ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

                          ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

                          Warm Up 3- Current Event 9814

                          bullTake a minute to write about a current event you have recently learned about within the past week

                          Purpose of Government

                          We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                          According to the Preamble what are the 6 purposes of our government

                          Purpose of Government

                          form a more perfect Union establish Justice the law must be

                          reasonable fair and impartialinsure domestic Tranquility order is

                          essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                          guarantee civil rights and liberties

                          3 Theorists bullThree classical theorists believed in the

                          need for government for different reasonsEach reason accepted the assumption that

                          men are invested in their own self-interestbullHobbes Locke Rousseau

                          ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                          governmentbullDecide which idea is a belief about the natural

                          state of manbullBased on these ideas decide which quote

                          belongs to which theoristbullExplain the quote in your own words and how

                          it relates to each personrsquos beliefs about government and the natural state of man

                          Origins of American Government A customized government

                          bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                          Developed notion of social contract between rulers and their subjects

                          Believed people were too selfish to govern themselves

                          ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                          Origins of American Government A customized government

                          bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                          Ideas helped lay foundations for democratic government

                          Believed people formed governments to protect their rights and were innately good

                          ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                          Origins of American Government A customized government

                          bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                          Believed people were naturally good but corrupted and enslaved by society

                          Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                          ldquoForce does not create right obedience is due to only legitimate powersrdquo

                          With which theory do you agree more Why

                          John Locke Thomas Hobbes

                          The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                          purpose of government Government needs to attain power from the

                          people in order to perform any functions

                          CLOSURE How much power is too much How much

                          liberty should be given up hellip bullThis represented a debated trade offhellip

                          Clash of order and freedom= Original Dilemma

                          Warm Up 5 Hobbes and Locke

                          Hobbes

                          Locke

                          Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                          Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                          Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                          Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                          Group 4Mike KingChris ConteKarlyRyanKatieDJ

                          Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                          Group 2JakeShawnKatieDrewWyattKatAshlyn

                          Group 3JennaCeatonJeffLivSteveGarciaTom

                          Group 4SuzetteJulianneAlekDanScottSpenserNick R

                          Balloon Game Objective

                          To be the team with the most filled balloons taped into the square on the board Rules

                          1 No running 2 No touching classmates hellip that does

                          not mean you canrsquot touch their balloons hellip

                          3 No removal of balloons once they are taped to the board

                          You will have less than 5 minutes to come up with a strategy in your group

                          You will have 10 minutes to get as many filled balloons on the square as possible

                          End

                          >

                          Balloon Game Debriefing What type of behavior did you see during the

                          game

                          List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                          Why do you think you needed more ldquorulesrdquo during

                          this game

                          How does this relate to this class How does it relate to the theorists

                          Political Theories

                          Force Theory small group forced

                          all to submit to person andor grouprsquos rule

                          Evolutionary Theory developed naturally out of the

                          evolution of the family

                          Divine Right held that God created the state

                          and God had given those of royal birth

                          ldquodivine rightrdquo to rule

                          Social Contract argues that state arose out of a

                          voluntary act of free people State exists only

                          to serve the will of the people

                          Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                          power to a government to protect them and serve their interests

                          bullFree to remove that power at any timebullGovernment can only create laws when it

                          has the consent of the governedbullExamples

                          Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                          cannot be taken away by any one (government)

                          bull Government exists to secure our natural rights and is based on the consent of those who are governed

                          bull Idea of consent derived from social contract theory

                          Democracybull A system of government in which in

                          theory the people rule either directly or indirectly

                          bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                          Concepts of Governmentbull Ordered governmentmdashneed for order

                          bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                          bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                          Warm up 6 ndash 91114

                          Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                          are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                          Warm Up 7

                          bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                          And after the ConstitutionFederalism vs Anti-Federalism

                          bullFederalists believed Favored ratification believed Constitution was

                          strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                          bullAnti-Federalists believed Opposed ratification believed Constitution

                          was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                          Activity

                          bullEach of you will get a card it either has a termperson or a definition on it

                          bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                          bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                          secret with your partner

                          Picture Activity

                          bullGallery Walk

                          Constitutional Convention

                          bullMet in Philadelphia in 1787

                          bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                          bullThese men were collectively known as ldquoThe Framersrdquo

                          Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                          Confederation bullDelegates quickly realized they were

                          meeting to create a new government (with 3 branches)

                          VA Plan v NJ Plan

                          Several plans were proposed to correct the weaknesses of the Articles

                          bullVirginia PlanbullNew Jersey Plan

                          Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                          Virginia Plan ldquoLarge State Planrdquo

                          bullStrong central govrsquotbullL Bicameral Congress

                          Representation based on population

                          bullE ldquoPresidentrdquo Chosen by Congress

                          bullJ 1+ supreme courts with lower courtsChosen by Congress

                          New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                          Each state would have = representationExpand power to tax amp regulate trade

                          bullE Two-person presidencyChosen by Congress able to be removed

                          bullJ Single Supreme CourtChosen by Executive

                          Your Task

                          Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                          them to choose your planUse catchy phrasesslogans and be sure to

                          include the historical features of your plan (VA or NJ)

                          At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                          Closure

                          bullWhat do you think (or know) happens to these two plans

                          States agreebull States agree to (ratify) the Constitution

                          only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                          bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                          Quote

                          bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                          bullWhat words stick to you in this quote Why

                          Structure of Constitutionbull Provides basic

                          framework for US government

                          bull Outlines basic principles structure and processes

                          bull Three partsmdashPreambleArticlesAmendments

                          Structure of Constitution bull Preamble

                          Introduction to the Constitution Lists ideas that the government should stand for

                          and states purposes We the people of the United States in Order

                          to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                          6 Purpose of Government bull Form a More Perfect Union

                          bull Establish Justice bull Insure Domestic Tranquility

                          bull Provide for the Common Defense

                          bull Promote the General Welfare

                          bull Secure the Blessings of Liberty

                          For each phrase consider the followinghellip

                          1 Why do you think the Framerrsquos put this phrase in the US Constitution

                          2 Is this phrase important today

                          Structure of Constitution bullArticles

                          Main body of the Constitution Lay out basic structure of the national

                          governmentFurther broken down into sections and clauses

                          Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                          Clause oaths of office

                          Article VII Ratification

                          Structure of Constitution

                          bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                          Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                          bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                          Activity

                          Activity bull STEP 1 bull Fill in the graphic

                          organizer in your guided notes packet You have 8 minutes on your own to do this

                          bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                          Principle Explanation

                          Popular Sovereignty Idea that people are the source of all power held by the government

                          Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                          Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                          Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                          Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                          Federalism Divides the power between the central government and the States

                          Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                          Question 1

                          bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                          Popular Sovereignty

                          Question 2

                          bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                          Limited Government

                          Question 3

                          bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                          Limited Government

                          Question 4

                          bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                          SEPARATION OF POWERS

                          Question 5

                          bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                          Checks and Balances

                          Question 6

                          bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                          CHECKS AND BALANCES

                          Question 7

                          bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                          JUDICIAL REVIEW

                          Question 8

                          bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                          Federalism

                          GroupsPopular

                          SovereigntySeparation of

                          PowersFederalism

                          bull bull bull

                          Judicial Review

                          Limited Government

                          Checks and Balances

                          bull bull bull

                          Separation of Powers

                          bull Legislative branchmdashmakes the laws

                          bull Executive branchmdashenforces the laws

                          bull Judicial branchmdashinterprets the law

                          Video

                          bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                          Checks and Balances

                          Checks and balances

                          bullIn what was do the branches check on one another

                          bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                          Basic Principles

                          bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                          Self- Worth

                          bull A recognition of the fundamental worth of every person

                          bull The democratic process reflects the collective set of individuals who make up society

                          Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                          bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                          bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                          Compromise

                          bull A matter of compromise to determine the position most acceptable to the largest number of people

                          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                          bullWhy is compromise important

                          Individual Freedombull Right of the

                          individual to be free as far as the freedom of all will allow

                          bull Democracy does not and cannot insist on the absolute freedom of the individual person

                          Write your ownhellipbull Now that you know what the foundations of

                          government arehellip Create your own Constitution (Or social contract)

                          What do you think is important to include What do you think could be taken out

                          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                          Preamble (brief introduction) Articles (what should it include based on what we

                          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                          change it)

                          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                          paper

                          TED Talk

                          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                          Closure

                          bullExplain two principles of the constitution and how are they connected

                          What is Economics

                          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                          Important Parts of Economicsndash

                          CHOICESSCARCITY

                          Economics ishellip

                          bullDependent upon assumptions

                          bullDependent upon simplification of reality

                          Back to our assumptionshellip

                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                          bullAll sellers seek to maximize profits

                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                          For the videohellip

                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                          Post Videohellip

                          bullDefine the main idea of the video in 4-5 words

                          Advertisement

                          bullKnowing some of the basics about what economics is and why we study ithellip

                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                          3 images that represent different economic ideas

                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                          1 slogan that represents why economics is an important course to take

                          Political Cartoon Analysis

                          Factors of Production bull LAND

                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                          soil minerals water and plants

                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                          into producing goodsservices

                          bull CAPITAL Includes tools machines buildings and

                          technologies

                          bull ENTREPRENEUR Risk taker who is responsible for combining

                          land labor and capital to produce goods and services

                          TASK

                          bullTask Why are entrepreneurs the driving force in our economy

                          bullAnswer in 2-3 sentences

                          The price ofhellip

                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                          Economic efficiency is achieved when all available resources are being used

                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                          1 What to produce

                          bullShould it be military or civilian goods

                          bullFood or clothingbullMedicine or movies

                          2 How to produce it

                          bullAutomated or manual labor

                          bullExpensive or cheap materials

                          bullDomestic or overseas labor

                          3 For whom to produce it

                          bullThe wealthy or the needybullThe sick or the healthy

                          Application Activity

                          bull In groups of 2-3 create your own country (name it please)

                          bull With your countryrsquos name explain the Population geography and general population

                          information (iehellipbull Choose 5 items for your country to produce and

                          answer the three societal questions for eachALSO explain why this material would help your

                          economy thrivereach economic efficiencybull Create an advertisement for your country

                          withhellip Images representing what you produce and a

                          slogan for why your country is awesome

                          EQs

                          bullHow does scarcity impact decision making

                          Objectives amp Essential QuestionsbullObjectives

                          I will be able to create and reflect on a budget given new economics content

                          I will be able to understand scarcity and our mixed economy

                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                          Group Activity Budget Activity

                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                          How do we satisfy our economic wants

                          bull We buy goods or services

                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                          bull Service ndash work done by someone else for which someone is willing to pay

                          How do we make goods amp services

                          bull Use Factors of Production - The productive resources that go into producing goods and services

                          Production Equation

                          LAND + LABOR + CAPITAL = GOODSERVICE

                          inputs output

                          Economic Interdependence

                          bullWhat does lsquointerdependencersquo mean

                          bullIs our world becoming economic interdependent or independent

                          bullEconomic Interdependence the actions of one part of the

                          country (world) has an impact on what happens elsewhere

                          Wants amp Needs gt

                          Resources

                          Because of scarcity we

                          have to make choices

                          How do we make a choice What do we give up

                          What does this remind you of from our government unit

                          Making Choices to Deal With Scarcity

                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                          decision over another

                          ExampleshellipbullSome choices are easy to makehellip

                          HmmhellipShould I have pizza or a hoagie for lunch today

                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                          school today or should I sleep in

                          Task Reflecting on Personal Trade-offshellip

                          In the end what helped you decide amongst your choices

                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                          tradeoffs for that decision

                          Be prepared to share

                          Opportunity Cost

                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                          Opportunity Cost ndash The best thing we give up to get what

                          we want

                          What else influences your choices

                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                          FinallyhellipWhy it Matters

                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                          better decision-maker

                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                          You always have to give something uphelliprdquo

                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                          decisions

                          Visualizing the Relationshiphellip

                          Limited Resources amp Unlimited Wants

                          Scarcity

                          Trade-offs (choices)

                          Opportunity Costs

                          ObjectivesEssential Questions

                          bullObjectivebullI will be able to understand (and teach)

                          the three different types of economies

                          bullEssential Question How do the different types of economies work

                          How Can We Measure What We Gain and Lose When

                          Making Choices

                          Answer With a Production Possibilities Frontier

                          Production Possibilities Frontier

                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                          PPF Assumptions

                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                          Production Possibilities Curve

                          CD

                          E

                          OU

                          TP

                          UT

                          OF

                          CO

                          NS

                          UM

                          ER

                          GO

                          OD

                          S

                          (un

                          its

                          per

                          yea

                          r)

                          OUTPUT OF MILITARY GOODS (units per year)

                          A

                          BO

                          XF

                          G

                          Limited resources necessitate choices about WHAT to produce

                          The Choices Nations Make

                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                          bullProduce military goods or consumer goods

                          Economic Growth

                          2000 production possibilities

                          1900 production possibilities

                          OU

                          TP

                          UT

                          OF

                          CO

                          NS

                          UM

                          ER

                          GO

                          OD

                          S(u

                          nits

                          per

                          yea

                          r)

                          OUTPUT OF MILITARY GOODS (units per year)

                          Production possibilities increases with more resources and technology

                          The Classic Guns and Butter example

                          Guns

                          Butter

                          10000 20000 30000 40000 50000

                          1000009500085000

                          70000

                          5000040000

                          BA

                          C

                          D

                          E

                          F

                          At point A all resources are used for butter

                          Moving from point A to point B requires shifting resources out of butter and into guns

                          At point F all resources are used for Guns

                          Productivitybull A PPF can help us see how efficient our

                          choices are

                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                          Locations on a PPF

                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                          Food

                          Computer

                          4

                          3

                          2

                          1

                          1 2 3 4

                          OC between 1 and 2 computers = 1 Food

                          UnitOC between 3 and 4 computers = 1 Food

                          Unit

                          Constantly giving up the same quantity of food to get

                          additional computers

                          STRAIGHT-LINE PPFs Constant OC

                          BOWED-OUT PPFs VaryingIncreasing OC

                          Principle of Increasing Costs

                          As a society produces more of one product the OC of producing

                          that product increases because we are using more resources that are poorly suited to produce it

                          Economic Systems

                          An economic system is the way a society coordinates the production and consumption of goods amp services

                          How a society answers the three basic economic questions determines which type of economic system they are

                          Three Types of Economic Systems Command Traditional Market

                          Jigsaw activity

                          bullYou will be placed in groups of 3 and assigned a type of economy

                          bullYou will have 7 minutes to read and come up with 4 key components

                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                          Economic amp Social Goals of an Economic System

                          bull Economic Freedom

                          bull Economic Efficiency

                          bull Economic Equity

                          bull Economic Security

                          Economic Stability

                          Economic Growth

                          Review of Economic Systems

                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                          bullIn a market economy individual producers and consumers coordinate economic activity

                          What are the most important goals of each economic system

                          bullTraditionalSecurity and

                          StabilitybullCommand

                          Equity and Security

                          bullMARKETEfficiency and

                          Freedom

                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                          at the expense of another (TRADEOFFS)

                          Which economic system does the US use

                          The American Economic System

                          bullWe have a mixed market economy

                          COMMAND MARKET

                          The US mixed economybull In a mixed economyhellip

                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                          Think backhellip

                          bullWhat does this remind you of from the beginning of the unit

                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                          2 Limited government

                          3 Equal opportunity

                          4 Competition

                          5 Profit motive

                          6 Property Rights

                          7 Binding Contracts

                          Understanding how all parts fit together

                          Circular Flow of Economic Activity Represents a market economy

                          2 main ldquomarketsrdquoProduct Market Factor Market

                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                          Shows interdependence between

                          businesses and individuals

                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                          bull Using what you have learned this unit and using the textbook

                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                          Do you remember

                          bullWrite the following question downbullWhy does the United States have a

                          democracy and mixed economy

                          • Foundations of Government and Economics
                          • On your blank piece of paperhellip
                          • Slide 3
                          • Warm-Up 1 - 9414
                          • Introductory thoughts hellip
                          • Slide 6
                          • 2 How about to your life
                          • Slide 8
                          • Slide 9
                          • Slide 10
                          • Slide 11
                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                          • Warm up 2bndash In Journal-
                          • Economist and Politician Assumptions
                          • Individualism
                          • Quote activity
                          • Quote breakdown
                          • Warm Up 3- Current Event 9814
                          • Purpose of Government
                          • Slide 20
                          • 3 Theorists
                          • Activity
                          • Origins of American Government A customized government
                          • Origins of American Government A customized government (2)
                          • Origins of American Government A customized government (3)
                          • With which theory do you agree more Why
                          • The ldquoOriginal Dilemmardquo
                          • Warm Up 5 Hobbes and Locke
                          • Groups Block 2
                          • Groups Block 4
                          • Balloon Game
                          • You will have 10 minutes to get as many filled balloons on the
                          • Balloon Game Debriefing
                          • Political Theories
                          • Social Contract
                          • Natural Rights
                          • Democracy
                          • Concepts of Government
                          • Warm up 6 ndash 91114
                          • Warm Up 7
                          • And after the Constitution
                          • Activity (2)
                          • Picture Activity
                          • Constitutional Convention
                          • Purpose of the Convention
                          • VA Plan v NJ Plan
                          • Virginia Plan ldquoLarge State Planrdquo
                          • New Jersey Plan ldquoSmall State Planrdquo
                          • Your Task
                          • Closure
                          • States agree
                          • Quote
                          • Structure of Constitution
                          • Structure of Constitution
                          • 6 Purpose of Government
                          • Structure of Constitution (2)
                          • Structure of Constitution (3)
                          • Principles of Constitution
                          • Activity
                          • Slide 60
                          • Check for Understanding Six Principles
                          • Question 1
                          • Question 2
                          • Question 3
                          • Question 4
                          • Question 5
                          • Question 6
                          • Question 7
                          • Question 8
                          • Groups
                          • Separation of Powers
                          • Video
                          • Checks and Balances
                          • Slide 74
                          • Checks and balances
                          • Basic Principles
                          • Self- Worth
                          • Equality
                          • Compromise
                          • Individual Freedom
                          • Write your ownhellip
                          • Slide 82
                          • TED Talk
                          • Closure
                          • What is Economics
                          • Economics ishellip
                          • Back to our assumptionshellip
                          • Scarcity refers to the limited number of resources (factors of
                          • For the videohellip
                          • Slide 90
                          • Post Videohellip
                          • Advertisement
                          • Political Cartoon Analysis
                          • Factors of Production
                          • TASK
                          • The price ofhellip
                          • Economic efficiency is achieved when all available resources ar
                          • 1 What to produce
                          • 2 How to produce it
                          • 3 For whom to produce it
                          • Application Activity
                          • EQs
                          • Objectives amp Essential Questions
                          • Group Activity Budget Activity
                          • Slide 105
                          • How do we satisfy our economic wants
                          • How do we make goods amp services
                          • Economic Interdependence
                          • Slide 109
                          • Making Choices to Deal With Scarcity
                          • Exampleshellip
                          • Task Reflecting on Personal Trade-offshellip
                          • Opportunity Cost
                          • What else influences your choices
                          • Finallyhellip Why it Matters
                          • Visualizing the Relationshiphellip
                          • ObjectivesEssential Questions
                          • How Can We Measure What We Gain and Lose When Making Choices
                          • Production Possibilities Frontier
                          • PPF Assumptions
                          • Slide 121
                          • Production Possibilities Curve
                          • The Choices Nations Make
                          • Economic Growth
                          • The Classic Guns and Butter example
                          • Productivity
                          • Locations on a PPF
                          • Slide 128
                          • BOWED-OUT PPFs VaryingIncreasing OC
                          • Economic Systems
                          • Jigsaw activity
                          • Slide 132
                          • Economic amp Social Goals of an Economic System
                          • Review of Economic Systems
                          • Slide 135
                          • What are the most important goals of each economic system
                          • Which economic system does the US use
                          • The American Economic System
                          • The US mixed economy
                          • Slide 140
                          • Think backhellip
                          • US Economic System Characteristics
                          • Slide 143
                          • Understanding how all parts fit together
                          • Marriage Vows
                          • Do you remember
                          • Slide 147

                            Individualism

                            bullWhat words do you associate with individualism

                            bullOur definitionideology or social outlook that emphasizes

                            the moral worth of the individual

                            Quote activity

                            bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

                            sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

                            your sheetbull You may then have 10 minutes to share

                            your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

                            Quote breakdown

                            bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

                            obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

                            way it does not existrdquo

                            bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

                            societyrdquo ldquoAn individual has not started living until he can rise above the narrow

                            confines of his individualistic concerns to the broader concerns of all humanityrdquo

                            bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

                            that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

                            ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

                            ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

                            Warm Up 3- Current Event 9814

                            bullTake a minute to write about a current event you have recently learned about within the past week

                            Purpose of Government

                            We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                            According to the Preamble what are the 6 purposes of our government

                            Purpose of Government

                            form a more perfect Union establish Justice the law must be

                            reasonable fair and impartialinsure domestic Tranquility order is

                            essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                            guarantee civil rights and liberties

                            3 Theorists bullThree classical theorists believed in the

                            need for government for different reasonsEach reason accepted the assumption that

                            men are invested in their own self-interestbullHobbes Locke Rousseau

                            ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                            governmentbullDecide which idea is a belief about the natural

                            state of manbullBased on these ideas decide which quote

                            belongs to which theoristbullExplain the quote in your own words and how

                            it relates to each personrsquos beliefs about government and the natural state of man

                            Origins of American Government A customized government

                            bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                            Developed notion of social contract between rulers and their subjects

                            Believed people were too selfish to govern themselves

                            ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                            Origins of American Government A customized government

                            bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                            Ideas helped lay foundations for democratic government

                            Believed people formed governments to protect their rights and were innately good

                            ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                            Origins of American Government A customized government

                            bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                            Believed people were naturally good but corrupted and enslaved by society

                            Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                            ldquoForce does not create right obedience is due to only legitimate powersrdquo

                            With which theory do you agree more Why

                            John Locke Thomas Hobbes

                            The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                            purpose of government Government needs to attain power from the

                            people in order to perform any functions

                            CLOSURE How much power is too much How much

                            liberty should be given up hellip bullThis represented a debated trade offhellip

                            Clash of order and freedom= Original Dilemma

                            Warm Up 5 Hobbes and Locke

                            Hobbes

                            Locke

                            Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                            Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                            Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                            Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                            Group 4Mike KingChris ConteKarlyRyanKatieDJ

                            Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                            Group 2JakeShawnKatieDrewWyattKatAshlyn

                            Group 3JennaCeatonJeffLivSteveGarciaTom

                            Group 4SuzetteJulianneAlekDanScottSpenserNick R

                            Balloon Game Objective

                            To be the team with the most filled balloons taped into the square on the board Rules

                            1 No running 2 No touching classmates hellip that does

                            not mean you canrsquot touch their balloons hellip

                            3 No removal of balloons once they are taped to the board

                            You will have less than 5 minutes to come up with a strategy in your group

                            You will have 10 minutes to get as many filled balloons on the square as possible

                            End

                            >

                            Balloon Game Debriefing What type of behavior did you see during the

                            game

                            List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                            Why do you think you needed more ldquorulesrdquo during

                            this game

                            How does this relate to this class How does it relate to the theorists

                            Political Theories

                            Force Theory small group forced

                            all to submit to person andor grouprsquos rule

                            Evolutionary Theory developed naturally out of the

                            evolution of the family

                            Divine Right held that God created the state

                            and God had given those of royal birth

                            ldquodivine rightrdquo to rule

                            Social Contract argues that state arose out of a

                            voluntary act of free people State exists only

                            to serve the will of the people

                            Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                            power to a government to protect them and serve their interests

                            bullFree to remove that power at any timebullGovernment can only create laws when it

                            has the consent of the governedbullExamples

                            Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                            cannot be taken away by any one (government)

                            bull Government exists to secure our natural rights and is based on the consent of those who are governed

                            bull Idea of consent derived from social contract theory

                            Democracybull A system of government in which in

                            theory the people rule either directly or indirectly

                            bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                            Concepts of Governmentbull Ordered governmentmdashneed for order

                            bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                            bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                            Warm up 6 ndash 91114

                            Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                            are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                            Warm Up 7

                            bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                            And after the ConstitutionFederalism vs Anti-Federalism

                            bullFederalists believed Favored ratification believed Constitution was

                            strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                            bullAnti-Federalists believed Opposed ratification believed Constitution

                            was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                            Activity

                            bullEach of you will get a card it either has a termperson or a definition on it

                            bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                            bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                            secret with your partner

                            Picture Activity

                            bullGallery Walk

                            Constitutional Convention

                            bullMet in Philadelphia in 1787

                            bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                            bullThese men were collectively known as ldquoThe Framersrdquo

                            Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                            Confederation bullDelegates quickly realized they were

                            meeting to create a new government (with 3 branches)

                            VA Plan v NJ Plan

                            Several plans were proposed to correct the weaknesses of the Articles

                            bullVirginia PlanbullNew Jersey Plan

                            Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                            Virginia Plan ldquoLarge State Planrdquo

                            bullStrong central govrsquotbullL Bicameral Congress

                            Representation based on population

                            bullE ldquoPresidentrdquo Chosen by Congress

                            bullJ 1+ supreme courts with lower courtsChosen by Congress

                            New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                            Each state would have = representationExpand power to tax amp regulate trade

                            bullE Two-person presidencyChosen by Congress able to be removed

                            bullJ Single Supreme CourtChosen by Executive

                            Your Task

                            Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                            them to choose your planUse catchy phrasesslogans and be sure to

                            include the historical features of your plan (VA or NJ)

                            At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                            Closure

                            bullWhat do you think (or know) happens to these two plans

                            States agreebull States agree to (ratify) the Constitution

                            only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                            bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                            Quote

                            bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                            bullWhat words stick to you in this quote Why

                            Structure of Constitutionbull Provides basic

                            framework for US government

                            bull Outlines basic principles structure and processes

                            bull Three partsmdashPreambleArticlesAmendments

                            Structure of Constitution bull Preamble

                            Introduction to the Constitution Lists ideas that the government should stand for

                            and states purposes We the people of the United States in Order

                            to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                            6 Purpose of Government bull Form a More Perfect Union

                            bull Establish Justice bull Insure Domestic Tranquility

                            bull Provide for the Common Defense

                            bull Promote the General Welfare

                            bull Secure the Blessings of Liberty

                            For each phrase consider the followinghellip

                            1 Why do you think the Framerrsquos put this phrase in the US Constitution

                            2 Is this phrase important today

                            Structure of Constitution bullArticles

                            Main body of the Constitution Lay out basic structure of the national

                            governmentFurther broken down into sections and clauses

                            Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                            Clause oaths of office

                            Article VII Ratification

                            Structure of Constitution

                            bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                            Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                            bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                            Activity

                            Activity bull STEP 1 bull Fill in the graphic

                            organizer in your guided notes packet You have 8 minutes on your own to do this

                            bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                            Principle Explanation

                            Popular Sovereignty Idea that people are the source of all power held by the government

                            Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                            Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                            Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                            Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                            Federalism Divides the power between the central government and the States

                            Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                            Question 1

                            bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                            Popular Sovereignty

                            Question 2

                            bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                            Limited Government

                            Question 3

                            bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                            Limited Government

                            Question 4

                            bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                            SEPARATION OF POWERS

                            Question 5

                            bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                            Checks and Balances

                            Question 6

                            bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                            CHECKS AND BALANCES

                            Question 7

                            bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                            JUDICIAL REVIEW

                            Question 8

                            bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                            Federalism

                            GroupsPopular

                            SovereigntySeparation of

                            PowersFederalism

                            bull bull bull

                            Judicial Review

                            Limited Government

                            Checks and Balances

                            bull bull bull

                            Separation of Powers

                            bull Legislative branchmdashmakes the laws

                            bull Executive branchmdashenforces the laws

                            bull Judicial branchmdashinterprets the law

                            Video

                            bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                            Checks and Balances

                            Checks and balances

                            bullIn what was do the branches check on one another

                            bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                            Basic Principles

                            bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                            Self- Worth

                            bull A recognition of the fundamental worth of every person

                            bull The democratic process reflects the collective set of individuals who make up society

                            Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                            bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                            bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                            Compromise

                            bull A matter of compromise to determine the position most acceptable to the largest number of people

                            bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                            bullWhy is compromise important

                            Individual Freedombull Right of the

                            individual to be free as far as the freedom of all will allow

                            bull Democracy does not and cannot insist on the absolute freedom of the individual person

                            Write your ownhellipbull Now that you know what the foundations of

                            government arehellip Create your own Constitution (Or social contract)

                            What do you think is important to include What do you think could be taken out

                            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                            Preamble (brief introduction) Articles (what should it include based on what we

                            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                            change it)

                            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                            paper

                            TED Talk

                            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                            Closure

                            bullExplain two principles of the constitution and how are they connected

                            What is Economics

                            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                            Important Parts of Economicsndash

                            CHOICESSCARCITY

                            Economics ishellip

                            bullDependent upon assumptions

                            bullDependent upon simplification of reality

                            Back to our assumptionshellip

                            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                            bullAll sellers seek to maximize profits

                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                            For the videohellip

                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                            Post Videohellip

                            bullDefine the main idea of the video in 4-5 words

                            Advertisement

                            bullKnowing some of the basics about what economics is and why we study ithellip

                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                            3 images that represent different economic ideas

                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                            1 slogan that represents why economics is an important course to take

                            Political Cartoon Analysis

                            Factors of Production bull LAND

                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                            soil minerals water and plants

                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                            into producing goodsservices

                            bull CAPITAL Includes tools machines buildings and

                            technologies

                            bull ENTREPRENEUR Risk taker who is responsible for combining

                            land labor and capital to produce goods and services

                            TASK

                            bullTask Why are entrepreneurs the driving force in our economy

                            bullAnswer in 2-3 sentences

                            The price ofhellip

                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                            Economic efficiency is achieved when all available resources are being used

                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                            1 What to produce

                            bullShould it be military or civilian goods

                            bullFood or clothingbullMedicine or movies

                            2 How to produce it

                            bullAutomated or manual labor

                            bullExpensive or cheap materials

                            bullDomestic or overseas labor

                            3 For whom to produce it

                            bullThe wealthy or the needybullThe sick or the healthy

                            Application Activity

                            bull In groups of 2-3 create your own country (name it please)

                            bull With your countryrsquos name explain the Population geography and general population

                            information (iehellipbull Choose 5 items for your country to produce and

                            answer the three societal questions for eachALSO explain why this material would help your

                            economy thrivereach economic efficiencybull Create an advertisement for your country

                            withhellip Images representing what you produce and a

                            slogan for why your country is awesome

                            EQs

                            bullHow does scarcity impact decision making

                            Objectives amp Essential QuestionsbullObjectives

                            I will be able to create and reflect on a budget given new economics content

                            I will be able to understand scarcity and our mixed economy

                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                            Group Activity Budget Activity

                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                            How do we satisfy our economic wants

                            bull We buy goods or services

                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                            bull Service ndash work done by someone else for which someone is willing to pay

                            How do we make goods amp services

                            bull Use Factors of Production - The productive resources that go into producing goods and services

                            Production Equation

                            LAND + LABOR + CAPITAL = GOODSERVICE

                            inputs output

                            Economic Interdependence

                            bullWhat does lsquointerdependencersquo mean

                            bullIs our world becoming economic interdependent or independent

                            bullEconomic Interdependence the actions of one part of the

                            country (world) has an impact on what happens elsewhere

                            Wants amp Needs gt

                            Resources

                            Because of scarcity we

                            have to make choices

                            How do we make a choice What do we give up

                            What does this remind you of from our government unit

                            Making Choices to Deal With Scarcity

                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                            decision over another

                            ExampleshellipbullSome choices are easy to makehellip

                            HmmhellipShould I have pizza or a hoagie for lunch today

                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                            school today or should I sleep in

                            Task Reflecting on Personal Trade-offshellip

                            In the end what helped you decide amongst your choices

                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                            tradeoffs for that decision

                            Be prepared to share

                            Opportunity Cost

                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                            Opportunity Cost ndash The best thing we give up to get what

                            we want

                            What else influences your choices

                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                            FinallyhellipWhy it Matters

                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                            better decision-maker

                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                            You always have to give something uphelliprdquo

                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                            decisions

                            Visualizing the Relationshiphellip

                            Limited Resources amp Unlimited Wants

                            Scarcity

                            Trade-offs (choices)

                            Opportunity Costs

                            ObjectivesEssential Questions

                            bullObjectivebullI will be able to understand (and teach)

                            the three different types of economies

                            bullEssential Question How do the different types of economies work

                            How Can We Measure What We Gain and Lose When

                            Making Choices

                            Answer With a Production Possibilities Frontier

                            Production Possibilities Frontier

                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                            PPF Assumptions

                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                            Production Possibilities Curve

                            CD

                            E

                            OU

                            TP

                            UT

                            OF

                            CO

                            NS

                            UM

                            ER

                            GO

                            OD

                            S

                            (un

                            its

                            per

                            yea

                            r)

                            OUTPUT OF MILITARY GOODS (units per year)

                            A

                            BO

                            XF

                            G

                            Limited resources necessitate choices about WHAT to produce

                            The Choices Nations Make

                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                            bullProduce military goods or consumer goods

                            Economic Growth

                            2000 production possibilities

                            1900 production possibilities

                            OU

                            TP

                            UT

                            OF

                            CO

                            NS

                            UM

                            ER

                            GO

                            OD

                            S(u

                            nits

                            per

                            yea

                            r)

                            OUTPUT OF MILITARY GOODS (units per year)

                            Production possibilities increases with more resources and technology

                            The Classic Guns and Butter example

                            Guns

                            Butter

                            10000 20000 30000 40000 50000

                            1000009500085000

                            70000

                            5000040000

                            BA

                            C

                            D

                            E

                            F

                            At point A all resources are used for butter

                            Moving from point A to point B requires shifting resources out of butter and into guns

                            At point F all resources are used for Guns

                            Productivitybull A PPF can help us see how efficient our

                            choices are

                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                            Locations on a PPF

                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                            Food

                            Computer

                            4

                            3

                            2

                            1

                            1 2 3 4

                            OC between 1 and 2 computers = 1 Food

                            UnitOC between 3 and 4 computers = 1 Food

                            Unit

                            Constantly giving up the same quantity of food to get

                            additional computers

                            STRAIGHT-LINE PPFs Constant OC

                            BOWED-OUT PPFs VaryingIncreasing OC

                            Principle of Increasing Costs

                            As a society produces more of one product the OC of producing

                            that product increases because we are using more resources that are poorly suited to produce it

                            Economic Systems

                            An economic system is the way a society coordinates the production and consumption of goods amp services

                            How a society answers the three basic economic questions determines which type of economic system they are

                            Three Types of Economic Systems Command Traditional Market

                            Jigsaw activity

                            bullYou will be placed in groups of 3 and assigned a type of economy

                            bullYou will have 7 minutes to read and come up with 4 key components

                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                            Economic amp Social Goals of an Economic System

                            bull Economic Freedom

                            bull Economic Efficiency

                            bull Economic Equity

                            bull Economic Security

                            Economic Stability

                            Economic Growth

                            Review of Economic Systems

                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                            bullIn a market economy individual producers and consumers coordinate economic activity

                            What are the most important goals of each economic system

                            bullTraditionalSecurity and

                            StabilitybullCommand

                            Equity and Security

                            bullMARKETEfficiency and

                            Freedom

                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                            at the expense of another (TRADEOFFS)

                            Which economic system does the US use

                            The American Economic System

                            bullWe have a mixed market economy

                            COMMAND MARKET

                            The US mixed economybull In a mixed economyhellip

                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                            Think backhellip

                            bullWhat does this remind you of from the beginning of the unit

                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                            2 Limited government

                            3 Equal opportunity

                            4 Competition

                            5 Profit motive

                            6 Property Rights

                            7 Binding Contracts

                            Understanding how all parts fit together

                            Circular Flow of Economic Activity Represents a market economy

                            2 main ldquomarketsrdquoProduct Market Factor Market

                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                            Shows interdependence between

                            businesses and individuals

                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                            bull Using what you have learned this unit and using the textbook

                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                            Do you remember

                            bullWrite the following question downbullWhy does the United States have a

                            democracy and mixed economy

                            • Foundations of Government and Economics
                            • On your blank piece of paperhellip
                            • Slide 3
                            • Warm-Up 1 - 9414
                            • Introductory thoughts hellip
                            • Slide 6
                            • 2 How about to your life
                            • Slide 8
                            • Slide 9
                            • Slide 10
                            • Slide 11
                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                            • Warm up 2bndash In Journal-
                            • Economist and Politician Assumptions
                            • Individualism
                            • Quote activity
                            • Quote breakdown
                            • Warm Up 3- Current Event 9814
                            • Purpose of Government
                            • Slide 20
                            • 3 Theorists
                            • Activity
                            • Origins of American Government A customized government
                            • Origins of American Government A customized government (2)
                            • Origins of American Government A customized government (3)
                            • With which theory do you agree more Why
                            • The ldquoOriginal Dilemmardquo
                            • Warm Up 5 Hobbes and Locke
                            • Groups Block 2
                            • Groups Block 4
                            • Balloon Game
                            • You will have 10 minutes to get as many filled balloons on the
                            • Balloon Game Debriefing
                            • Political Theories
                            • Social Contract
                            • Natural Rights
                            • Democracy
                            • Concepts of Government
                            • Warm up 6 ndash 91114
                            • Warm Up 7
                            • And after the Constitution
                            • Activity (2)
                            • Picture Activity
                            • Constitutional Convention
                            • Purpose of the Convention
                            • VA Plan v NJ Plan
                            • Virginia Plan ldquoLarge State Planrdquo
                            • New Jersey Plan ldquoSmall State Planrdquo
                            • Your Task
                            • Closure
                            • States agree
                            • Quote
                            • Structure of Constitution
                            • Structure of Constitution
                            • 6 Purpose of Government
                            • Structure of Constitution (2)
                            • Structure of Constitution (3)
                            • Principles of Constitution
                            • Activity
                            • Slide 60
                            • Check for Understanding Six Principles
                            • Question 1
                            • Question 2
                            • Question 3
                            • Question 4
                            • Question 5
                            • Question 6
                            • Question 7
                            • Question 8
                            • Groups
                            • Separation of Powers
                            • Video
                            • Checks and Balances
                            • Slide 74
                            • Checks and balances
                            • Basic Principles
                            • Self- Worth
                            • Equality
                            • Compromise
                            • Individual Freedom
                            • Write your ownhellip
                            • Slide 82
                            • TED Talk
                            • Closure
                            • What is Economics
                            • Economics ishellip
                            • Back to our assumptionshellip
                            • Scarcity refers to the limited number of resources (factors of
                            • For the videohellip
                            • Slide 90
                            • Post Videohellip
                            • Advertisement
                            • Political Cartoon Analysis
                            • Factors of Production
                            • TASK
                            • The price ofhellip
                            • Economic efficiency is achieved when all available resources ar
                            • 1 What to produce
                            • 2 How to produce it
                            • 3 For whom to produce it
                            • Application Activity
                            • EQs
                            • Objectives amp Essential Questions
                            • Group Activity Budget Activity
                            • Slide 105
                            • How do we satisfy our economic wants
                            • How do we make goods amp services
                            • Economic Interdependence
                            • Slide 109
                            • Making Choices to Deal With Scarcity
                            • Exampleshellip
                            • Task Reflecting on Personal Trade-offshellip
                            • Opportunity Cost
                            • What else influences your choices
                            • Finallyhellip Why it Matters
                            • Visualizing the Relationshiphellip
                            • ObjectivesEssential Questions
                            • How Can We Measure What We Gain and Lose When Making Choices
                            • Production Possibilities Frontier
                            • PPF Assumptions
                            • Slide 121
                            • Production Possibilities Curve
                            • The Choices Nations Make
                            • Economic Growth
                            • The Classic Guns and Butter example
                            • Productivity
                            • Locations on a PPF
                            • Slide 128
                            • BOWED-OUT PPFs VaryingIncreasing OC
                            • Economic Systems
                            • Jigsaw activity
                            • Slide 132
                            • Economic amp Social Goals of an Economic System
                            • Review of Economic Systems
                            • Slide 135
                            • What are the most important goals of each economic system
                            • Which economic system does the US use
                            • The American Economic System
                            • The US mixed economy
                            • Slide 140
                            • Think backhellip
                            • US Economic System Characteristics
                            • Slide 143
                            • Understanding how all parts fit together
                            • Marriage Vows
                            • Do you remember
                            • Slide 147

                              Quote activity

                              bullTeacher will count you off by 6bullThe first 5 minutes you will on your own

                              sort your quotes by what you agree with and what you do not this is a quiet activityWrite ldquoArdquo ldquoDrdquo or ldquoIrdquo next to each quote on

                              your sheetbull You may then have 10 minutes to share

                              your opinions and ideas then create a ldquomaster listrdquo of agrees vs disagrees

                              Quote breakdown

                              bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

                              obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

                              way it does not existrdquo

                              bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

                              societyrdquo ldquoAn individual has not started living until he can rise above the narrow

                              confines of his individualistic concerns to the broader concerns of all humanityrdquo

                              bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

                              that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

                              ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

                              ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

                              Warm Up 3- Current Event 9814

                              bullTake a minute to write about a current event you have recently learned about within the past week

                              Purpose of Government

                              We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                              According to the Preamble what are the 6 purposes of our government

                              Purpose of Government

                              form a more perfect Union establish Justice the law must be

                              reasonable fair and impartialinsure domestic Tranquility order is

                              essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                              guarantee civil rights and liberties

                              3 Theorists bullThree classical theorists believed in the

                              need for government for different reasonsEach reason accepted the assumption that

                              men are invested in their own self-interestbullHobbes Locke Rousseau

                              ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                              governmentbullDecide which idea is a belief about the natural

                              state of manbullBased on these ideas decide which quote

                              belongs to which theoristbullExplain the quote in your own words and how

                              it relates to each personrsquos beliefs about government and the natural state of man

                              Origins of American Government A customized government

                              bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                              Developed notion of social contract between rulers and their subjects

                              Believed people were too selfish to govern themselves

                              ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                              Origins of American Government A customized government

                              bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                              Ideas helped lay foundations for democratic government

                              Believed people formed governments to protect their rights and were innately good

                              ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                              Origins of American Government A customized government

                              bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                              Believed people were naturally good but corrupted and enslaved by society

                              Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                              ldquoForce does not create right obedience is due to only legitimate powersrdquo

                              With which theory do you agree more Why

                              John Locke Thomas Hobbes

                              The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                              purpose of government Government needs to attain power from the

                              people in order to perform any functions

                              CLOSURE How much power is too much How much

                              liberty should be given up hellip bullThis represented a debated trade offhellip

                              Clash of order and freedom= Original Dilemma

                              Warm Up 5 Hobbes and Locke

                              Hobbes

                              Locke

                              Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                              Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                              Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                              Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                              Group 4Mike KingChris ConteKarlyRyanKatieDJ

                              Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                              Group 2JakeShawnKatieDrewWyattKatAshlyn

                              Group 3JennaCeatonJeffLivSteveGarciaTom

                              Group 4SuzetteJulianneAlekDanScottSpenserNick R

                              Balloon Game Objective

                              To be the team with the most filled balloons taped into the square on the board Rules

                              1 No running 2 No touching classmates hellip that does

                              not mean you canrsquot touch their balloons hellip

                              3 No removal of balloons once they are taped to the board

                              You will have less than 5 minutes to come up with a strategy in your group

                              You will have 10 minutes to get as many filled balloons on the square as possible

                              End

                              >

                              Balloon Game Debriefing What type of behavior did you see during the

                              game

                              List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                              Why do you think you needed more ldquorulesrdquo during

                              this game

                              How does this relate to this class How does it relate to the theorists

                              Political Theories

                              Force Theory small group forced

                              all to submit to person andor grouprsquos rule

                              Evolutionary Theory developed naturally out of the

                              evolution of the family

                              Divine Right held that God created the state

                              and God had given those of royal birth

                              ldquodivine rightrdquo to rule

                              Social Contract argues that state arose out of a

                              voluntary act of free people State exists only

                              to serve the will of the people

                              Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                              power to a government to protect them and serve their interests

                              bullFree to remove that power at any timebullGovernment can only create laws when it

                              has the consent of the governedbullExamples

                              Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                              cannot be taken away by any one (government)

                              bull Government exists to secure our natural rights and is based on the consent of those who are governed

                              bull Idea of consent derived from social contract theory

                              Democracybull A system of government in which in

                              theory the people rule either directly or indirectly

                              bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                              Concepts of Governmentbull Ordered governmentmdashneed for order

                              bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                              bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                              Warm up 6 ndash 91114

                              Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                              are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                              Warm Up 7

                              bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                              And after the ConstitutionFederalism vs Anti-Federalism

                              bullFederalists believed Favored ratification believed Constitution was

                              strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                              bullAnti-Federalists believed Opposed ratification believed Constitution

                              was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                              Activity

                              bullEach of you will get a card it either has a termperson or a definition on it

                              bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                              bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                              secret with your partner

                              Picture Activity

                              bullGallery Walk

                              Constitutional Convention

                              bullMet in Philadelphia in 1787

                              bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                              bullThese men were collectively known as ldquoThe Framersrdquo

                              Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                              Confederation bullDelegates quickly realized they were

                              meeting to create a new government (with 3 branches)

                              VA Plan v NJ Plan

                              Several plans were proposed to correct the weaknesses of the Articles

                              bullVirginia PlanbullNew Jersey Plan

                              Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                              Virginia Plan ldquoLarge State Planrdquo

                              bullStrong central govrsquotbullL Bicameral Congress

                              Representation based on population

                              bullE ldquoPresidentrdquo Chosen by Congress

                              bullJ 1+ supreme courts with lower courtsChosen by Congress

                              New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                              Each state would have = representationExpand power to tax amp regulate trade

                              bullE Two-person presidencyChosen by Congress able to be removed

                              bullJ Single Supreme CourtChosen by Executive

                              Your Task

                              Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                              them to choose your planUse catchy phrasesslogans and be sure to

                              include the historical features of your plan (VA or NJ)

                              At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                              Closure

                              bullWhat do you think (or know) happens to these two plans

                              States agreebull States agree to (ratify) the Constitution

                              only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                              bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                              Quote

                              bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                              bullWhat words stick to you in this quote Why

                              Structure of Constitutionbull Provides basic

                              framework for US government

                              bull Outlines basic principles structure and processes

                              bull Three partsmdashPreambleArticlesAmendments

                              Structure of Constitution bull Preamble

                              Introduction to the Constitution Lists ideas that the government should stand for

                              and states purposes We the people of the United States in Order

                              to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                              6 Purpose of Government bull Form a More Perfect Union

                              bull Establish Justice bull Insure Domestic Tranquility

                              bull Provide for the Common Defense

                              bull Promote the General Welfare

                              bull Secure the Blessings of Liberty

                              For each phrase consider the followinghellip

                              1 Why do you think the Framerrsquos put this phrase in the US Constitution

                              2 Is this phrase important today

                              Structure of Constitution bullArticles

                              Main body of the Constitution Lay out basic structure of the national

                              governmentFurther broken down into sections and clauses

                              Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                              Clause oaths of office

                              Article VII Ratification

                              Structure of Constitution

                              bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                              Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                              bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                              Activity

                              Activity bull STEP 1 bull Fill in the graphic

                              organizer in your guided notes packet You have 8 minutes on your own to do this

                              bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                              Principle Explanation

                              Popular Sovereignty Idea that people are the source of all power held by the government

                              Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                              Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                              Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                              Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                              Federalism Divides the power between the central government and the States

                              Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                              Question 1

                              bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                              Popular Sovereignty

                              Question 2

                              bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                              Limited Government

                              Question 3

                              bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                              Limited Government

                              Question 4

                              bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                              SEPARATION OF POWERS

                              Question 5

                              bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                              Checks and Balances

                              Question 6

                              bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                              CHECKS AND BALANCES

                              Question 7

                              bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                              JUDICIAL REVIEW

                              Question 8

                              bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                              Federalism

                              GroupsPopular

                              SovereigntySeparation of

                              PowersFederalism

                              bull bull bull

                              Judicial Review

                              Limited Government

                              Checks and Balances

                              bull bull bull

                              Separation of Powers

                              bull Legislative branchmdashmakes the laws

                              bull Executive branchmdashenforces the laws

                              bull Judicial branchmdashinterprets the law

                              Video

                              bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                              Checks and Balances

                              Checks and balances

                              bullIn what was do the branches check on one another

                              bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                              Basic Principles

                              bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                              Self- Worth

                              bull A recognition of the fundamental worth of every person

                              bull The democratic process reflects the collective set of individuals who make up society

                              Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                              bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                              bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                              Compromise

                              bull A matter of compromise to determine the position most acceptable to the largest number of people

                              bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                              bullWhy is compromise important

                              Individual Freedombull Right of the

                              individual to be free as far as the freedom of all will allow

                              bull Democracy does not and cannot insist on the absolute freedom of the individual person

                              Write your ownhellipbull Now that you know what the foundations of

                              government arehellip Create your own Constitution (Or social contract)

                              What do you think is important to include What do you think could be taken out

                              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                              Preamble (brief introduction) Articles (what should it include based on what we

                              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                              change it)

                              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                              paper

                              TED Talk

                              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                              Closure

                              bullExplain two principles of the constitution and how are they connected

                              What is Economics

                              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                              Important Parts of Economicsndash

                              CHOICESSCARCITY

                              Economics ishellip

                              bullDependent upon assumptions

                              bullDependent upon simplification of reality

                              Back to our assumptionshellip

                              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                              bullAll sellers seek to maximize profits

                              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                              For the videohellip

                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                              Post Videohellip

                              bullDefine the main idea of the video in 4-5 words

                              Advertisement

                              bullKnowing some of the basics about what economics is and why we study ithellip

                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                              3 images that represent different economic ideas

                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                              1 slogan that represents why economics is an important course to take

                              Political Cartoon Analysis

                              Factors of Production bull LAND

                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                              soil minerals water and plants

                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                              into producing goodsservices

                              bull CAPITAL Includes tools machines buildings and

                              technologies

                              bull ENTREPRENEUR Risk taker who is responsible for combining

                              land labor and capital to produce goods and services

                              TASK

                              bullTask Why are entrepreneurs the driving force in our economy

                              bullAnswer in 2-3 sentences

                              The price ofhellip

                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                              Economic efficiency is achieved when all available resources are being used

                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                              1 What to produce

                              bullShould it be military or civilian goods

                              bullFood or clothingbullMedicine or movies

                              2 How to produce it

                              bullAutomated or manual labor

                              bullExpensive or cheap materials

                              bullDomestic or overseas labor

                              3 For whom to produce it

                              bullThe wealthy or the needybullThe sick or the healthy

                              Application Activity

                              bull In groups of 2-3 create your own country (name it please)

                              bull With your countryrsquos name explain the Population geography and general population

                              information (iehellipbull Choose 5 items for your country to produce and

                              answer the three societal questions for eachALSO explain why this material would help your

                              economy thrivereach economic efficiencybull Create an advertisement for your country

                              withhellip Images representing what you produce and a

                              slogan for why your country is awesome

                              EQs

                              bullHow does scarcity impact decision making

                              Objectives amp Essential QuestionsbullObjectives

                              I will be able to create and reflect on a budget given new economics content

                              I will be able to understand scarcity and our mixed economy

                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                              Group Activity Budget Activity

                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                              How do we satisfy our economic wants

                              bull We buy goods or services

                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                              bull Service ndash work done by someone else for which someone is willing to pay

                              How do we make goods amp services

                              bull Use Factors of Production - The productive resources that go into producing goods and services

                              Production Equation

                              LAND + LABOR + CAPITAL = GOODSERVICE

                              inputs output

                              Economic Interdependence

                              bullWhat does lsquointerdependencersquo mean

                              bullIs our world becoming economic interdependent or independent

                              bullEconomic Interdependence the actions of one part of the

                              country (world) has an impact on what happens elsewhere

                              Wants amp Needs gt

                              Resources

                              Because of scarcity we

                              have to make choices

                              How do we make a choice What do we give up

                              What does this remind you of from our government unit

                              Making Choices to Deal With Scarcity

                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                              decision over another

                              ExampleshellipbullSome choices are easy to makehellip

                              HmmhellipShould I have pizza or a hoagie for lunch today

                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                              school today or should I sleep in

                              Task Reflecting on Personal Trade-offshellip

                              In the end what helped you decide amongst your choices

                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                              tradeoffs for that decision

                              Be prepared to share

                              Opportunity Cost

                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                              Opportunity Cost ndash The best thing we give up to get what

                              we want

                              What else influences your choices

                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                              FinallyhellipWhy it Matters

                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                              better decision-maker

                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                              You always have to give something uphelliprdquo

                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                              decisions

                              Visualizing the Relationshiphellip

                              Limited Resources amp Unlimited Wants

                              Scarcity

                              Trade-offs (choices)

                              Opportunity Costs

                              ObjectivesEssential Questions

                              bullObjectivebullI will be able to understand (and teach)

                              the three different types of economies

                              bullEssential Question How do the different types of economies work

                              How Can We Measure What We Gain and Lose When

                              Making Choices

                              Answer With a Production Possibilities Frontier

                              Production Possibilities Frontier

                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                              PPF Assumptions

                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                              Production Possibilities Curve

                              CD

                              E

                              OU

                              TP

                              UT

                              OF

                              CO

                              NS

                              UM

                              ER

                              GO

                              OD

                              S

                              (un

                              its

                              per

                              yea

                              r)

                              OUTPUT OF MILITARY GOODS (units per year)

                              A

                              BO

                              XF

                              G

                              Limited resources necessitate choices about WHAT to produce

                              The Choices Nations Make

                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                              bullProduce military goods or consumer goods

                              Economic Growth

                              2000 production possibilities

                              1900 production possibilities

                              OU

                              TP

                              UT

                              OF

                              CO

                              NS

                              UM

                              ER

                              GO

                              OD

                              S(u

                              nits

                              per

                              yea

                              r)

                              OUTPUT OF MILITARY GOODS (units per year)

                              Production possibilities increases with more resources and technology

                              The Classic Guns and Butter example

                              Guns

                              Butter

                              10000 20000 30000 40000 50000

                              1000009500085000

                              70000

                              5000040000

                              BA

                              C

                              D

                              E

                              F

                              At point A all resources are used for butter

                              Moving from point A to point B requires shifting resources out of butter and into guns

                              At point F all resources are used for Guns

                              Productivitybull A PPF can help us see how efficient our

                              choices are

                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                              Locations on a PPF

                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                              Food

                              Computer

                              4

                              3

                              2

                              1

                              1 2 3 4

                              OC between 1 and 2 computers = 1 Food

                              UnitOC between 3 and 4 computers = 1 Food

                              Unit

                              Constantly giving up the same quantity of food to get

                              additional computers

                              STRAIGHT-LINE PPFs Constant OC

                              BOWED-OUT PPFs VaryingIncreasing OC

                              Principle of Increasing Costs

                              As a society produces more of one product the OC of producing

                              that product increases because we are using more resources that are poorly suited to produce it

                              Economic Systems

                              An economic system is the way a society coordinates the production and consumption of goods amp services

                              How a society answers the three basic economic questions determines which type of economic system they are

                              Three Types of Economic Systems Command Traditional Market

                              Jigsaw activity

                              bullYou will be placed in groups of 3 and assigned a type of economy

                              bullYou will have 7 minutes to read and come up with 4 key components

                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                              Economic amp Social Goals of an Economic System

                              bull Economic Freedom

                              bull Economic Efficiency

                              bull Economic Equity

                              bull Economic Security

                              Economic Stability

                              Economic Growth

                              Review of Economic Systems

                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                              bullIn a market economy individual producers and consumers coordinate economic activity

                              What are the most important goals of each economic system

                              bullTraditionalSecurity and

                              StabilitybullCommand

                              Equity and Security

                              bullMARKETEfficiency and

                              Freedom

                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                              at the expense of another (TRADEOFFS)

                              Which economic system does the US use

                              The American Economic System

                              bullWe have a mixed market economy

                              COMMAND MARKET

                              The US mixed economybull In a mixed economyhellip

                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                              Think backhellip

                              bullWhat does this remind you of from the beginning of the unit

                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                              2 Limited government

                              3 Equal opportunity

                              4 Competition

                              5 Profit motive

                              6 Property Rights

                              7 Binding Contracts

                              Understanding how all parts fit together

                              Circular Flow of Economic Activity Represents a market economy

                              2 main ldquomarketsrdquoProduct Market Factor Market

                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                              Shows interdependence between

                              businesses and individuals

                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                              bull Using what you have learned this unit and using the textbook

                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                              Do you remember

                              bullWrite the following question downbullWhy does the United States have a

                              democracy and mixed economy

                              • Foundations of Government and Economics
                              • On your blank piece of paperhellip
                              • Slide 3
                              • Warm-Up 1 - 9414
                              • Introductory thoughts hellip
                              • Slide 6
                              • 2 How about to your life
                              • Slide 8
                              • Slide 9
                              • Slide 10
                              • Slide 11
                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                              • Warm up 2bndash In Journal-
                              • Economist and Politician Assumptions
                              • Individualism
                              • Quote activity
                              • Quote breakdown
                              • Warm Up 3- Current Event 9814
                              • Purpose of Government
                              • Slide 20
                              • 3 Theorists
                              • Activity
                              • Origins of American Government A customized government
                              • Origins of American Government A customized government (2)
                              • Origins of American Government A customized government (3)
                              • With which theory do you agree more Why
                              • The ldquoOriginal Dilemmardquo
                              • Warm Up 5 Hobbes and Locke
                              • Groups Block 2
                              • Groups Block 4
                              • Balloon Game
                              • You will have 10 minutes to get as many filled balloons on the
                              • Balloon Game Debriefing
                              • Political Theories
                              • Social Contract
                              • Natural Rights
                              • Democracy
                              • Concepts of Government
                              • Warm up 6 ndash 91114
                              • Warm Up 7
                              • And after the Constitution
                              • Activity (2)
                              • Picture Activity
                              • Constitutional Convention
                              • Purpose of the Convention
                              • VA Plan v NJ Plan
                              • Virginia Plan ldquoLarge State Planrdquo
                              • New Jersey Plan ldquoSmall State Planrdquo
                              • Your Task
                              • Closure
                              • States agree
                              • Quote
                              • Structure of Constitution
                              • Structure of Constitution
                              • 6 Purpose of Government
                              • Structure of Constitution (2)
                              • Structure of Constitution (3)
                              • Principles of Constitution
                              • Activity
                              • Slide 60
                              • Check for Understanding Six Principles
                              • Question 1
                              • Question 2
                              • Question 3
                              • Question 4
                              • Question 5
                              • Question 6
                              • Question 7
                              • Question 8
                              • Groups
                              • Separation of Powers
                              • Video
                              • Checks and Balances
                              • Slide 74
                              • Checks and balances
                              • Basic Principles
                              • Self- Worth
                              • Equality
                              • Compromise
                              • Individual Freedom
                              • Write your ownhellip
                              • Slide 82
                              • TED Talk
                              • Closure
                              • What is Economics
                              • Economics ishellip
                              • Back to our assumptionshellip
                              • Scarcity refers to the limited number of resources (factors of
                              • For the videohellip
                              • Slide 90
                              • Post Videohellip
                              • Advertisement
                              • Political Cartoon Analysis
                              • Factors of Production
                              • TASK
                              • The price ofhellip
                              • Economic efficiency is achieved when all available resources ar
                              • 1 What to produce
                              • 2 How to produce it
                              • 3 For whom to produce it
                              • Application Activity
                              • EQs
                              • Objectives amp Essential Questions
                              • Group Activity Budget Activity
                              • Slide 105
                              • How do we satisfy our economic wants
                              • How do we make goods amp services
                              • Economic Interdependence
                              • Slide 109
                              • Making Choices to Deal With Scarcity
                              • Exampleshellip
                              • Task Reflecting on Personal Trade-offshellip
                              • Opportunity Cost
                              • What else influences your choices
                              • Finallyhellip Why it Matters
                              • Visualizing the Relationshiphellip
                              • ObjectivesEssential Questions
                              • How Can We Measure What We Gain and Lose When Making Choices
                              • Production Possibilities Frontier
                              • PPF Assumptions
                              • Slide 121
                              • Production Possibilities Curve
                              • The Choices Nations Make
                              • Economic Growth
                              • The Classic Guns and Butter example
                              • Productivity
                              • Locations on a PPF
                              • Slide 128
                              • BOWED-OUT PPFs VaryingIncreasing OC
                              • Economic Systems
                              • Jigsaw activity
                              • Slide 132
                              • Economic amp Social Goals of an Economic System
                              • Review of Economic Systems
                              • Slide 135
                              • What are the most important goals of each economic system
                              • Which economic system does the US use
                              • The American Economic System
                              • The US mixed economy
                              • Slide 140
                              • Think backhellip
                              • US Economic System Characteristics
                              • Slide 143
                              • Understanding how all parts fit together
                              • Marriage Vows
                              • Do you remember
                              • Slide 147

                                Quote breakdown

                                bull Individualism ldquoRemember always that you not only have the right to be an individual you have an

                                obligation to be onerdquo ldquoYou have your way I have my way As for the right way the correct way and the only

                                way it does not existrdquo

                                bull Collectivism ldquoWe must stop thinking of the individual and start thinking of what is best for

                                societyrdquo ldquoAn individual has not started living until he can rise above the narrow

                                confines of his individualistic concerns to the broader concerns of all humanityrdquo

                                bull Individual and Society ldquoFreedom morality and the human dignity of the individual consists precisely in this

                                that he does good not because he is forced to do so but because he freely conceives it wants it and loves it

                                ldquoAll that is valuable in human society depends upon the opportunity for development accorded the individualrdquo

                                ldquoWe are of course a nation of differences Those differences donrsquot make us weak Theyrsquore a source of our strengthrdquo

                                Warm Up 3- Current Event 9814

                                bullTake a minute to write about a current event you have recently learned about within the past week

                                Purpose of Government

                                We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                                According to the Preamble what are the 6 purposes of our government

                                Purpose of Government

                                form a more perfect Union establish Justice the law must be

                                reasonable fair and impartialinsure domestic Tranquility order is

                                essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                                guarantee civil rights and liberties

                                3 Theorists bullThree classical theorists believed in the

                                need for government for different reasonsEach reason accepted the assumption that

                                men are invested in their own self-interestbullHobbes Locke Rousseau

                                ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                                governmentbullDecide which idea is a belief about the natural

                                state of manbullBased on these ideas decide which quote

                                belongs to which theoristbullExplain the quote in your own words and how

                                it relates to each personrsquos beliefs about government and the natural state of man

                                Origins of American Government A customized government

                                bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                                Developed notion of social contract between rulers and their subjects

                                Believed people were too selfish to govern themselves

                                ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                                Origins of American Government A customized government

                                bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                                Ideas helped lay foundations for democratic government

                                Believed people formed governments to protect their rights and were innately good

                                ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                                Origins of American Government A customized government

                                bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                                Believed people were naturally good but corrupted and enslaved by society

                                Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                                ldquoForce does not create right obedience is due to only legitimate powersrdquo

                                With which theory do you agree more Why

                                John Locke Thomas Hobbes

                                The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                purpose of government Government needs to attain power from the

                                people in order to perform any functions

                                CLOSURE How much power is too much How much

                                liberty should be given up hellip bullThis represented a debated trade offhellip

                                Clash of order and freedom= Original Dilemma

                                Warm Up 5 Hobbes and Locke

                                Hobbes

                                Locke

                                Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                Group 2JakeShawnKatieDrewWyattKatAshlyn

                                Group 3JennaCeatonJeffLivSteveGarciaTom

                                Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                Balloon Game Objective

                                To be the team with the most filled balloons taped into the square on the board Rules

                                1 No running 2 No touching classmates hellip that does

                                not mean you canrsquot touch their balloons hellip

                                3 No removal of balloons once they are taped to the board

                                You will have less than 5 minutes to come up with a strategy in your group

                                You will have 10 minutes to get as many filled balloons on the square as possible

                                End

                                >

                                Balloon Game Debriefing What type of behavior did you see during the

                                game

                                List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                Why do you think you needed more ldquorulesrdquo during

                                this game

                                How does this relate to this class How does it relate to the theorists

                                Political Theories

                                Force Theory small group forced

                                all to submit to person andor grouprsquos rule

                                Evolutionary Theory developed naturally out of the

                                evolution of the family

                                Divine Right held that God created the state

                                and God had given those of royal birth

                                ldquodivine rightrdquo to rule

                                Social Contract argues that state arose out of a

                                voluntary act of free people State exists only

                                to serve the will of the people

                                Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                power to a government to protect them and serve their interests

                                bullFree to remove that power at any timebullGovernment can only create laws when it

                                has the consent of the governedbullExamples

                                Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                cannot be taken away by any one (government)

                                bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                bull Idea of consent derived from social contract theory

                                Democracybull A system of government in which in

                                theory the people rule either directly or indirectly

                                bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                Concepts of Governmentbull Ordered governmentmdashneed for order

                                bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                Warm up 6 ndash 91114

                                Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                Warm Up 7

                                bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                And after the ConstitutionFederalism vs Anti-Federalism

                                bullFederalists believed Favored ratification believed Constitution was

                                strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                bullAnti-Federalists believed Opposed ratification believed Constitution

                                was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                Activity

                                bullEach of you will get a card it either has a termperson or a definition on it

                                bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                secret with your partner

                                Picture Activity

                                bullGallery Walk

                                Constitutional Convention

                                bullMet in Philadelphia in 1787

                                bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                bullThese men were collectively known as ldquoThe Framersrdquo

                                Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                Confederation bullDelegates quickly realized they were

                                meeting to create a new government (with 3 branches)

                                VA Plan v NJ Plan

                                Several plans were proposed to correct the weaknesses of the Articles

                                bullVirginia PlanbullNew Jersey Plan

                                Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                Virginia Plan ldquoLarge State Planrdquo

                                bullStrong central govrsquotbullL Bicameral Congress

                                Representation based on population

                                bullE ldquoPresidentrdquo Chosen by Congress

                                bullJ 1+ supreme courts with lower courtsChosen by Congress

                                New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                Each state would have = representationExpand power to tax amp regulate trade

                                bullE Two-person presidencyChosen by Congress able to be removed

                                bullJ Single Supreme CourtChosen by Executive

                                Your Task

                                Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                them to choose your planUse catchy phrasesslogans and be sure to

                                include the historical features of your plan (VA or NJ)

                                At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                Closure

                                bullWhat do you think (or know) happens to these two plans

                                States agreebull States agree to (ratify) the Constitution

                                only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                Quote

                                bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                bullWhat words stick to you in this quote Why

                                Structure of Constitutionbull Provides basic

                                framework for US government

                                bull Outlines basic principles structure and processes

                                bull Three partsmdashPreambleArticlesAmendments

                                Structure of Constitution bull Preamble

                                Introduction to the Constitution Lists ideas that the government should stand for

                                and states purposes We the people of the United States in Order

                                to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                6 Purpose of Government bull Form a More Perfect Union

                                bull Establish Justice bull Insure Domestic Tranquility

                                bull Provide for the Common Defense

                                bull Promote the General Welfare

                                bull Secure the Blessings of Liberty

                                For each phrase consider the followinghellip

                                1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                2 Is this phrase important today

                                Structure of Constitution bullArticles

                                Main body of the Constitution Lay out basic structure of the national

                                governmentFurther broken down into sections and clauses

                                Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                Clause oaths of office

                                Article VII Ratification

                                Structure of Constitution

                                bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                Activity

                                Activity bull STEP 1 bull Fill in the graphic

                                organizer in your guided notes packet You have 8 minutes on your own to do this

                                bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                Principle Explanation

                                Popular Sovereignty Idea that people are the source of all power held by the government

                                Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                Federalism Divides the power between the central government and the States

                                Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                Question 1

                                bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                Popular Sovereignty

                                Question 2

                                bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                Limited Government

                                Question 3

                                bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                Limited Government

                                Question 4

                                bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                SEPARATION OF POWERS

                                Question 5

                                bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                Checks and Balances

                                Question 6

                                bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                CHECKS AND BALANCES

                                Question 7

                                bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                JUDICIAL REVIEW

                                Question 8

                                bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                Federalism

                                GroupsPopular

                                SovereigntySeparation of

                                PowersFederalism

                                bull bull bull

                                Judicial Review

                                Limited Government

                                Checks and Balances

                                bull bull bull

                                Separation of Powers

                                bull Legislative branchmdashmakes the laws

                                bull Executive branchmdashenforces the laws

                                bull Judicial branchmdashinterprets the law

                                Video

                                bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                Checks and Balances

                                Checks and balances

                                bullIn what was do the branches check on one another

                                bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                Basic Principles

                                bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                Self- Worth

                                bull A recognition of the fundamental worth of every person

                                bull The democratic process reflects the collective set of individuals who make up society

                                Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                Compromise

                                bull A matter of compromise to determine the position most acceptable to the largest number of people

                                bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                bullWhy is compromise important

                                Individual Freedombull Right of the

                                individual to be free as far as the freedom of all will allow

                                bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                Write your ownhellipbull Now that you know what the foundations of

                                government arehellip Create your own Constitution (Or social contract)

                                What do you think is important to include What do you think could be taken out

                                Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                Preamble (brief introduction) Articles (what should it include based on what we

                                learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                change it)

                                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                paper

                                TED Talk

                                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                Closure

                                bullExplain two principles of the constitution and how are they connected

                                What is Economics

                                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                Important Parts of Economicsndash

                                CHOICESSCARCITY

                                Economics ishellip

                                bullDependent upon assumptions

                                bullDependent upon simplification of reality

                                Back to our assumptionshellip

                                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                bullAll sellers seek to maximize profits

                                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                For the videohellip

                                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                Post Videohellip

                                bullDefine the main idea of the video in 4-5 words

                                Advertisement

                                bullKnowing some of the basics about what economics is and why we study ithellip

                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                3 images that represent different economic ideas

                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                1 slogan that represents why economics is an important course to take

                                Political Cartoon Analysis

                                Factors of Production bull LAND

                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                soil minerals water and plants

                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                into producing goodsservices

                                bull CAPITAL Includes tools machines buildings and

                                technologies

                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                land labor and capital to produce goods and services

                                TASK

                                bullTask Why are entrepreneurs the driving force in our economy

                                bullAnswer in 2-3 sentences

                                The price ofhellip

                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                Economic efficiency is achieved when all available resources are being used

                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                1 What to produce

                                bullShould it be military or civilian goods

                                bullFood or clothingbullMedicine or movies

                                2 How to produce it

                                bullAutomated or manual labor

                                bullExpensive or cheap materials

                                bullDomestic or overseas labor

                                3 For whom to produce it

                                bullThe wealthy or the needybullThe sick or the healthy

                                Application Activity

                                bull In groups of 2-3 create your own country (name it please)

                                bull With your countryrsquos name explain the Population geography and general population

                                information (iehellipbull Choose 5 items for your country to produce and

                                answer the three societal questions for eachALSO explain why this material would help your

                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                withhellip Images representing what you produce and a

                                slogan for why your country is awesome

                                EQs

                                bullHow does scarcity impact decision making

                                Objectives amp Essential QuestionsbullObjectives

                                I will be able to create and reflect on a budget given new economics content

                                I will be able to understand scarcity and our mixed economy

                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                Group Activity Budget Activity

                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                How do we satisfy our economic wants

                                bull We buy goods or services

                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                bull Service ndash work done by someone else for which someone is willing to pay

                                How do we make goods amp services

                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                Production Equation

                                LAND + LABOR + CAPITAL = GOODSERVICE

                                inputs output

                                Economic Interdependence

                                bullWhat does lsquointerdependencersquo mean

                                bullIs our world becoming economic interdependent or independent

                                bullEconomic Interdependence the actions of one part of the

                                country (world) has an impact on what happens elsewhere

                                Wants amp Needs gt

                                Resources

                                Because of scarcity we

                                have to make choices

                                How do we make a choice What do we give up

                                What does this remind you of from our government unit

                                Making Choices to Deal With Scarcity

                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                decision over another

                                ExampleshellipbullSome choices are easy to makehellip

                                HmmhellipShould I have pizza or a hoagie for lunch today

                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                school today or should I sleep in

                                Task Reflecting on Personal Trade-offshellip

                                In the end what helped you decide amongst your choices

                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                tradeoffs for that decision

                                Be prepared to share

                                Opportunity Cost

                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                Opportunity Cost ndash The best thing we give up to get what

                                we want

                                What else influences your choices

                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                FinallyhellipWhy it Matters

                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                better decision-maker

                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                You always have to give something uphelliprdquo

                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                decisions

                                Visualizing the Relationshiphellip

                                Limited Resources amp Unlimited Wants

                                Scarcity

                                Trade-offs (choices)

                                Opportunity Costs

                                ObjectivesEssential Questions

                                bullObjectivebullI will be able to understand (and teach)

                                the three different types of economies

                                bullEssential Question How do the different types of economies work

                                How Can We Measure What We Gain and Lose When

                                Making Choices

                                Answer With a Production Possibilities Frontier

                                Production Possibilities Frontier

                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                PPF Assumptions

                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                Production Possibilities Curve

                                CD

                                E

                                OU

                                TP

                                UT

                                OF

                                CO

                                NS

                                UM

                                ER

                                GO

                                OD

                                S

                                (un

                                its

                                per

                                yea

                                r)

                                OUTPUT OF MILITARY GOODS (units per year)

                                A

                                BO

                                XF

                                G

                                Limited resources necessitate choices about WHAT to produce

                                The Choices Nations Make

                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                bullProduce military goods or consumer goods

                                Economic Growth

                                2000 production possibilities

                                1900 production possibilities

                                OU

                                TP

                                UT

                                OF

                                CO

                                NS

                                UM

                                ER

                                GO

                                OD

                                S(u

                                nits

                                per

                                yea

                                r)

                                OUTPUT OF MILITARY GOODS (units per year)

                                Production possibilities increases with more resources and technology

                                The Classic Guns and Butter example

                                Guns

                                Butter

                                10000 20000 30000 40000 50000

                                1000009500085000

                                70000

                                5000040000

                                BA

                                C

                                D

                                E

                                F

                                At point A all resources are used for butter

                                Moving from point A to point B requires shifting resources out of butter and into guns

                                At point F all resources are used for Guns

                                Productivitybull A PPF can help us see how efficient our

                                choices are

                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                Locations on a PPF

                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                Food

                                Computer

                                4

                                3

                                2

                                1

                                1 2 3 4

                                OC between 1 and 2 computers = 1 Food

                                UnitOC between 3 and 4 computers = 1 Food

                                Unit

                                Constantly giving up the same quantity of food to get

                                additional computers

                                STRAIGHT-LINE PPFs Constant OC

                                BOWED-OUT PPFs VaryingIncreasing OC

                                Principle of Increasing Costs

                                As a society produces more of one product the OC of producing

                                that product increases because we are using more resources that are poorly suited to produce it

                                Economic Systems

                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                How a society answers the three basic economic questions determines which type of economic system they are

                                Three Types of Economic Systems Command Traditional Market

                                Jigsaw activity

                                bullYou will be placed in groups of 3 and assigned a type of economy

                                bullYou will have 7 minutes to read and come up with 4 key components

                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                Economic amp Social Goals of an Economic System

                                bull Economic Freedom

                                bull Economic Efficiency

                                bull Economic Equity

                                bull Economic Security

                                Economic Stability

                                Economic Growth

                                Review of Economic Systems

                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                bullIn a market economy individual producers and consumers coordinate economic activity

                                What are the most important goals of each economic system

                                bullTraditionalSecurity and

                                StabilitybullCommand

                                Equity and Security

                                bullMARKETEfficiency and

                                Freedom

                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                at the expense of another (TRADEOFFS)

                                Which economic system does the US use

                                The American Economic System

                                bullWe have a mixed market economy

                                COMMAND MARKET

                                The US mixed economybull In a mixed economyhellip

                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                Think backhellip

                                bullWhat does this remind you of from the beginning of the unit

                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                2 Limited government

                                3 Equal opportunity

                                4 Competition

                                5 Profit motive

                                6 Property Rights

                                7 Binding Contracts

                                Understanding how all parts fit together

                                Circular Flow of Economic Activity Represents a market economy

                                2 main ldquomarketsrdquoProduct Market Factor Market

                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                Shows interdependence between

                                businesses and individuals

                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                bull Using what you have learned this unit and using the textbook

                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                Do you remember

                                bullWrite the following question downbullWhy does the United States have a

                                democracy and mixed economy

                                • Foundations of Government and Economics
                                • On your blank piece of paperhellip
                                • Slide 3
                                • Warm-Up 1 - 9414
                                • Introductory thoughts hellip
                                • Slide 6
                                • 2 How about to your life
                                • Slide 8
                                • Slide 9
                                • Slide 10
                                • Slide 11
                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                • Warm up 2bndash In Journal-
                                • Economist and Politician Assumptions
                                • Individualism
                                • Quote activity
                                • Quote breakdown
                                • Warm Up 3- Current Event 9814
                                • Purpose of Government
                                • Slide 20
                                • 3 Theorists
                                • Activity
                                • Origins of American Government A customized government
                                • Origins of American Government A customized government (2)
                                • Origins of American Government A customized government (3)
                                • With which theory do you agree more Why
                                • The ldquoOriginal Dilemmardquo
                                • Warm Up 5 Hobbes and Locke
                                • Groups Block 2
                                • Groups Block 4
                                • Balloon Game
                                • You will have 10 minutes to get as many filled balloons on the
                                • Balloon Game Debriefing
                                • Political Theories
                                • Social Contract
                                • Natural Rights
                                • Democracy
                                • Concepts of Government
                                • Warm up 6 ndash 91114
                                • Warm Up 7
                                • And after the Constitution
                                • Activity (2)
                                • Picture Activity
                                • Constitutional Convention
                                • Purpose of the Convention
                                • VA Plan v NJ Plan
                                • Virginia Plan ldquoLarge State Planrdquo
                                • New Jersey Plan ldquoSmall State Planrdquo
                                • Your Task
                                • Closure
                                • States agree
                                • Quote
                                • Structure of Constitution
                                • Structure of Constitution
                                • 6 Purpose of Government
                                • Structure of Constitution (2)
                                • Structure of Constitution (3)
                                • Principles of Constitution
                                • Activity
                                • Slide 60
                                • Check for Understanding Six Principles
                                • Question 1
                                • Question 2
                                • Question 3
                                • Question 4
                                • Question 5
                                • Question 6
                                • Question 7
                                • Question 8
                                • Groups
                                • Separation of Powers
                                • Video
                                • Checks and Balances
                                • Slide 74
                                • Checks and balances
                                • Basic Principles
                                • Self- Worth
                                • Equality
                                • Compromise
                                • Individual Freedom
                                • Write your ownhellip
                                • Slide 82
                                • TED Talk
                                • Closure
                                • What is Economics
                                • Economics ishellip
                                • Back to our assumptionshellip
                                • Scarcity refers to the limited number of resources (factors of
                                • For the videohellip
                                • Slide 90
                                • Post Videohellip
                                • Advertisement
                                • Political Cartoon Analysis
                                • Factors of Production
                                • TASK
                                • The price ofhellip
                                • Economic efficiency is achieved when all available resources ar
                                • 1 What to produce
                                • 2 How to produce it
                                • 3 For whom to produce it
                                • Application Activity
                                • EQs
                                • Objectives amp Essential Questions
                                • Group Activity Budget Activity
                                • Slide 105
                                • How do we satisfy our economic wants
                                • How do we make goods amp services
                                • Economic Interdependence
                                • Slide 109
                                • Making Choices to Deal With Scarcity
                                • Exampleshellip
                                • Task Reflecting on Personal Trade-offshellip
                                • Opportunity Cost
                                • What else influences your choices
                                • Finallyhellip Why it Matters
                                • Visualizing the Relationshiphellip
                                • ObjectivesEssential Questions
                                • How Can We Measure What We Gain and Lose When Making Choices
                                • Production Possibilities Frontier
                                • PPF Assumptions
                                • Slide 121
                                • Production Possibilities Curve
                                • The Choices Nations Make
                                • Economic Growth
                                • The Classic Guns and Butter example
                                • Productivity
                                • Locations on a PPF
                                • Slide 128
                                • BOWED-OUT PPFs VaryingIncreasing OC
                                • Economic Systems
                                • Jigsaw activity
                                • Slide 132
                                • Economic amp Social Goals of an Economic System
                                • Review of Economic Systems
                                • Slide 135
                                • What are the most important goals of each economic system
                                • Which economic system does the US use
                                • The American Economic System
                                • The US mixed economy
                                • Slide 140
                                • Think backhellip
                                • US Economic System Characteristics
                                • Slide 143
                                • Understanding how all parts fit together
                                • Marriage Vows
                                • Do you remember
                                • Slide 147

                                  Warm Up 3- Current Event 9814

                                  bullTake a minute to write about a current event you have recently learned about within the past week

                                  Purpose of Government

                                  We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                                  According to the Preamble what are the 6 purposes of our government

                                  Purpose of Government

                                  form a more perfect Union establish Justice the law must be

                                  reasonable fair and impartialinsure domestic Tranquility order is

                                  essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                                  guarantee civil rights and liberties

                                  3 Theorists bullThree classical theorists believed in the

                                  need for government for different reasonsEach reason accepted the assumption that

                                  men are invested in their own self-interestbullHobbes Locke Rousseau

                                  ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                                  governmentbullDecide which idea is a belief about the natural

                                  state of manbullBased on these ideas decide which quote

                                  belongs to which theoristbullExplain the quote in your own words and how

                                  it relates to each personrsquos beliefs about government and the natural state of man

                                  Origins of American Government A customized government

                                  bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                                  Developed notion of social contract between rulers and their subjects

                                  Believed people were too selfish to govern themselves

                                  ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                                  Origins of American Government A customized government

                                  bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                                  Ideas helped lay foundations for democratic government

                                  Believed people formed governments to protect their rights and were innately good

                                  ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                                  Origins of American Government A customized government

                                  bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                                  Believed people were naturally good but corrupted and enslaved by society

                                  Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                                  ldquoForce does not create right obedience is due to only legitimate powersrdquo

                                  With which theory do you agree more Why

                                  John Locke Thomas Hobbes

                                  The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                  purpose of government Government needs to attain power from the

                                  people in order to perform any functions

                                  CLOSURE How much power is too much How much

                                  liberty should be given up hellip bullThis represented a debated trade offhellip

                                  Clash of order and freedom= Original Dilemma

                                  Warm Up 5 Hobbes and Locke

                                  Hobbes

                                  Locke

                                  Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                  Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                  Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                  Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                  Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                  Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                  Group 2JakeShawnKatieDrewWyattKatAshlyn

                                  Group 3JennaCeatonJeffLivSteveGarciaTom

                                  Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                  Balloon Game Objective

                                  To be the team with the most filled balloons taped into the square on the board Rules

                                  1 No running 2 No touching classmates hellip that does

                                  not mean you canrsquot touch their balloons hellip

                                  3 No removal of balloons once they are taped to the board

                                  You will have less than 5 minutes to come up with a strategy in your group

                                  You will have 10 minutes to get as many filled balloons on the square as possible

                                  End

                                  >

                                  Balloon Game Debriefing What type of behavior did you see during the

                                  game

                                  List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                  Why do you think you needed more ldquorulesrdquo during

                                  this game

                                  How does this relate to this class How does it relate to the theorists

                                  Political Theories

                                  Force Theory small group forced

                                  all to submit to person andor grouprsquos rule

                                  Evolutionary Theory developed naturally out of the

                                  evolution of the family

                                  Divine Right held that God created the state

                                  and God had given those of royal birth

                                  ldquodivine rightrdquo to rule

                                  Social Contract argues that state arose out of a

                                  voluntary act of free people State exists only

                                  to serve the will of the people

                                  Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                  power to a government to protect them and serve their interests

                                  bullFree to remove that power at any timebullGovernment can only create laws when it

                                  has the consent of the governedbullExamples

                                  Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                  cannot be taken away by any one (government)

                                  bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                  bull Idea of consent derived from social contract theory

                                  Democracybull A system of government in which in

                                  theory the people rule either directly or indirectly

                                  bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                  Concepts of Governmentbull Ordered governmentmdashneed for order

                                  bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                  bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                  Warm up 6 ndash 91114

                                  Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                  are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                  Warm Up 7

                                  bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                  And after the ConstitutionFederalism vs Anti-Federalism

                                  bullFederalists believed Favored ratification believed Constitution was

                                  strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                  bullAnti-Federalists believed Opposed ratification believed Constitution

                                  was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                  Activity

                                  bullEach of you will get a card it either has a termperson or a definition on it

                                  bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                  bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                  secret with your partner

                                  Picture Activity

                                  bullGallery Walk

                                  Constitutional Convention

                                  bullMet in Philadelphia in 1787

                                  bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                  bullThese men were collectively known as ldquoThe Framersrdquo

                                  Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                  Confederation bullDelegates quickly realized they were

                                  meeting to create a new government (with 3 branches)

                                  VA Plan v NJ Plan

                                  Several plans were proposed to correct the weaknesses of the Articles

                                  bullVirginia PlanbullNew Jersey Plan

                                  Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                  Virginia Plan ldquoLarge State Planrdquo

                                  bullStrong central govrsquotbullL Bicameral Congress

                                  Representation based on population

                                  bullE ldquoPresidentrdquo Chosen by Congress

                                  bullJ 1+ supreme courts with lower courtsChosen by Congress

                                  New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                  Each state would have = representationExpand power to tax amp regulate trade

                                  bullE Two-person presidencyChosen by Congress able to be removed

                                  bullJ Single Supreme CourtChosen by Executive

                                  Your Task

                                  Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                  them to choose your planUse catchy phrasesslogans and be sure to

                                  include the historical features of your plan (VA or NJ)

                                  At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                  Closure

                                  bullWhat do you think (or know) happens to these two plans

                                  States agreebull States agree to (ratify) the Constitution

                                  only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                  bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                  Quote

                                  bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                  bullWhat words stick to you in this quote Why

                                  Structure of Constitutionbull Provides basic

                                  framework for US government

                                  bull Outlines basic principles structure and processes

                                  bull Three partsmdashPreambleArticlesAmendments

                                  Structure of Constitution bull Preamble

                                  Introduction to the Constitution Lists ideas that the government should stand for

                                  and states purposes We the people of the United States in Order

                                  to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                  6 Purpose of Government bull Form a More Perfect Union

                                  bull Establish Justice bull Insure Domestic Tranquility

                                  bull Provide for the Common Defense

                                  bull Promote the General Welfare

                                  bull Secure the Blessings of Liberty

                                  For each phrase consider the followinghellip

                                  1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                  2 Is this phrase important today

                                  Structure of Constitution bullArticles

                                  Main body of the Constitution Lay out basic structure of the national

                                  governmentFurther broken down into sections and clauses

                                  Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                  Clause oaths of office

                                  Article VII Ratification

                                  Structure of Constitution

                                  bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                  Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                  bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                  Activity

                                  Activity bull STEP 1 bull Fill in the graphic

                                  organizer in your guided notes packet You have 8 minutes on your own to do this

                                  bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                  Principle Explanation

                                  Popular Sovereignty Idea that people are the source of all power held by the government

                                  Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                  Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                  Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                  Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                  Federalism Divides the power between the central government and the States

                                  Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                  Question 1

                                  bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                  Popular Sovereignty

                                  Question 2

                                  bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                  Limited Government

                                  Question 3

                                  bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                  Limited Government

                                  Question 4

                                  bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                  SEPARATION OF POWERS

                                  Question 5

                                  bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                  Checks and Balances

                                  Question 6

                                  bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                  CHECKS AND BALANCES

                                  Question 7

                                  bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                  JUDICIAL REVIEW

                                  Question 8

                                  bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                  Federalism

                                  GroupsPopular

                                  SovereigntySeparation of

                                  PowersFederalism

                                  bull bull bull

                                  Judicial Review

                                  Limited Government

                                  Checks and Balances

                                  bull bull bull

                                  Separation of Powers

                                  bull Legislative branchmdashmakes the laws

                                  bull Executive branchmdashenforces the laws

                                  bull Judicial branchmdashinterprets the law

                                  Video

                                  bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                  Checks and Balances

                                  Checks and balances

                                  bullIn what was do the branches check on one another

                                  bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                  Basic Principles

                                  bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                  Self- Worth

                                  bull A recognition of the fundamental worth of every person

                                  bull The democratic process reflects the collective set of individuals who make up society

                                  Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                  bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                  bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                  Compromise

                                  bull A matter of compromise to determine the position most acceptable to the largest number of people

                                  bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                  bullWhy is compromise important

                                  Individual Freedombull Right of the

                                  individual to be free as far as the freedom of all will allow

                                  bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                  Write your ownhellipbull Now that you know what the foundations of

                                  government arehellip Create your own Constitution (Or social contract)

                                  What do you think is important to include What do you think could be taken out

                                  Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                  Preamble (brief introduction) Articles (what should it include based on what we

                                  learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                  change it)

                                  bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                  paper

                                  TED Talk

                                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                  Closure

                                  bullExplain two principles of the constitution and how are they connected

                                  What is Economics

                                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                  Important Parts of Economicsndash

                                  CHOICESSCARCITY

                                  Economics ishellip

                                  bullDependent upon assumptions

                                  bullDependent upon simplification of reality

                                  Back to our assumptionshellip

                                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                  bullAll sellers seek to maximize profits

                                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                  For the videohellip

                                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                  Post Videohellip

                                  bullDefine the main idea of the video in 4-5 words

                                  Advertisement

                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                  3 images that represent different economic ideas

                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                  1 slogan that represents why economics is an important course to take

                                  Political Cartoon Analysis

                                  Factors of Production bull LAND

                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                  soil minerals water and plants

                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                  into producing goodsservices

                                  bull CAPITAL Includes tools machines buildings and

                                  technologies

                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                  land labor and capital to produce goods and services

                                  TASK

                                  bullTask Why are entrepreneurs the driving force in our economy

                                  bullAnswer in 2-3 sentences

                                  The price ofhellip

                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                  Economic efficiency is achieved when all available resources are being used

                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                  1 What to produce

                                  bullShould it be military or civilian goods

                                  bullFood or clothingbullMedicine or movies

                                  2 How to produce it

                                  bullAutomated or manual labor

                                  bullExpensive or cheap materials

                                  bullDomestic or overseas labor

                                  3 For whom to produce it

                                  bullThe wealthy or the needybullThe sick or the healthy

                                  Application Activity

                                  bull In groups of 2-3 create your own country (name it please)

                                  bull With your countryrsquos name explain the Population geography and general population

                                  information (iehellipbull Choose 5 items for your country to produce and

                                  answer the three societal questions for eachALSO explain why this material would help your

                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                  withhellip Images representing what you produce and a

                                  slogan for why your country is awesome

                                  EQs

                                  bullHow does scarcity impact decision making

                                  Objectives amp Essential QuestionsbullObjectives

                                  I will be able to create and reflect on a budget given new economics content

                                  I will be able to understand scarcity and our mixed economy

                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                  Group Activity Budget Activity

                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                  How do we satisfy our economic wants

                                  bull We buy goods or services

                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                  bull Service ndash work done by someone else for which someone is willing to pay

                                  How do we make goods amp services

                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                  Production Equation

                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                  inputs output

                                  Economic Interdependence

                                  bullWhat does lsquointerdependencersquo mean

                                  bullIs our world becoming economic interdependent or independent

                                  bullEconomic Interdependence the actions of one part of the

                                  country (world) has an impact on what happens elsewhere

                                  Wants amp Needs gt

                                  Resources

                                  Because of scarcity we

                                  have to make choices

                                  How do we make a choice What do we give up

                                  What does this remind you of from our government unit

                                  Making Choices to Deal With Scarcity

                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                  decision over another

                                  ExampleshellipbullSome choices are easy to makehellip

                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                  school today or should I sleep in

                                  Task Reflecting on Personal Trade-offshellip

                                  In the end what helped you decide amongst your choices

                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                  tradeoffs for that decision

                                  Be prepared to share

                                  Opportunity Cost

                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                  Opportunity Cost ndash The best thing we give up to get what

                                  we want

                                  What else influences your choices

                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                  FinallyhellipWhy it Matters

                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                  better decision-maker

                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                  You always have to give something uphelliprdquo

                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                  decisions

                                  Visualizing the Relationshiphellip

                                  Limited Resources amp Unlimited Wants

                                  Scarcity

                                  Trade-offs (choices)

                                  Opportunity Costs

                                  ObjectivesEssential Questions

                                  bullObjectivebullI will be able to understand (and teach)

                                  the three different types of economies

                                  bullEssential Question How do the different types of economies work

                                  How Can We Measure What We Gain and Lose When

                                  Making Choices

                                  Answer With a Production Possibilities Frontier

                                  Production Possibilities Frontier

                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                  PPF Assumptions

                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                  Production Possibilities Curve

                                  CD

                                  E

                                  OU

                                  TP

                                  UT

                                  OF

                                  CO

                                  NS

                                  UM

                                  ER

                                  GO

                                  OD

                                  S

                                  (un

                                  its

                                  per

                                  yea

                                  r)

                                  OUTPUT OF MILITARY GOODS (units per year)

                                  A

                                  BO

                                  XF

                                  G

                                  Limited resources necessitate choices about WHAT to produce

                                  The Choices Nations Make

                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                  bullProduce military goods or consumer goods

                                  Economic Growth

                                  2000 production possibilities

                                  1900 production possibilities

                                  OU

                                  TP

                                  UT

                                  OF

                                  CO

                                  NS

                                  UM

                                  ER

                                  GO

                                  OD

                                  S(u

                                  nits

                                  per

                                  yea

                                  r)

                                  OUTPUT OF MILITARY GOODS (units per year)

                                  Production possibilities increases with more resources and technology

                                  The Classic Guns and Butter example

                                  Guns

                                  Butter

                                  10000 20000 30000 40000 50000

                                  1000009500085000

                                  70000

                                  5000040000

                                  BA

                                  C

                                  D

                                  E

                                  F

                                  At point A all resources are used for butter

                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                  At point F all resources are used for Guns

                                  Productivitybull A PPF can help us see how efficient our

                                  choices are

                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                  Locations on a PPF

                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                  Food

                                  Computer

                                  4

                                  3

                                  2

                                  1

                                  1 2 3 4

                                  OC between 1 and 2 computers = 1 Food

                                  UnitOC between 3 and 4 computers = 1 Food

                                  Unit

                                  Constantly giving up the same quantity of food to get

                                  additional computers

                                  STRAIGHT-LINE PPFs Constant OC

                                  BOWED-OUT PPFs VaryingIncreasing OC

                                  Principle of Increasing Costs

                                  As a society produces more of one product the OC of producing

                                  that product increases because we are using more resources that are poorly suited to produce it

                                  Economic Systems

                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                  How a society answers the three basic economic questions determines which type of economic system they are

                                  Three Types of Economic Systems Command Traditional Market

                                  Jigsaw activity

                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                  bullYou will have 7 minutes to read and come up with 4 key components

                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                  Economic amp Social Goals of an Economic System

                                  bull Economic Freedom

                                  bull Economic Efficiency

                                  bull Economic Equity

                                  bull Economic Security

                                  Economic Stability

                                  Economic Growth

                                  Review of Economic Systems

                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                  What are the most important goals of each economic system

                                  bullTraditionalSecurity and

                                  StabilitybullCommand

                                  Equity and Security

                                  bullMARKETEfficiency and

                                  Freedom

                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                  at the expense of another (TRADEOFFS)

                                  Which economic system does the US use

                                  The American Economic System

                                  bullWe have a mixed market economy

                                  COMMAND MARKET

                                  The US mixed economybull In a mixed economyhellip

                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                  Think backhellip

                                  bullWhat does this remind you of from the beginning of the unit

                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                  2 Limited government

                                  3 Equal opportunity

                                  4 Competition

                                  5 Profit motive

                                  6 Property Rights

                                  7 Binding Contracts

                                  Understanding how all parts fit together

                                  Circular Flow of Economic Activity Represents a market economy

                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                  Shows interdependence between

                                  businesses and individuals

                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                  bull Using what you have learned this unit and using the textbook

                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                  Do you remember

                                  bullWrite the following question downbullWhy does the United States have a

                                  democracy and mixed economy

                                  • Foundations of Government and Economics
                                  • On your blank piece of paperhellip
                                  • Slide 3
                                  • Warm-Up 1 - 9414
                                  • Introductory thoughts hellip
                                  • Slide 6
                                  • 2 How about to your life
                                  • Slide 8
                                  • Slide 9
                                  • Slide 10
                                  • Slide 11
                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                  • Warm up 2bndash In Journal-
                                  • Economist and Politician Assumptions
                                  • Individualism
                                  • Quote activity
                                  • Quote breakdown
                                  • Warm Up 3- Current Event 9814
                                  • Purpose of Government
                                  • Slide 20
                                  • 3 Theorists
                                  • Activity
                                  • Origins of American Government A customized government
                                  • Origins of American Government A customized government (2)
                                  • Origins of American Government A customized government (3)
                                  • With which theory do you agree more Why
                                  • The ldquoOriginal Dilemmardquo
                                  • Warm Up 5 Hobbes and Locke
                                  • Groups Block 2
                                  • Groups Block 4
                                  • Balloon Game
                                  • You will have 10 minutes to get as many filled balloons on the
                                  • Balloon Game Debriefing
                                  • Political Theories
                                  • Social Contract
                                  • Natural Rights
                                  • Democracy
                                  • Concepts of Government
                                  • Warm up 6 ndash 91114
                                  • Warm Up 7
                                  • And after the Constitution
                                  • Activity (2)
                                  • Picture Activity
                                  • Constitutional Convention
                                  • Purpose of the Convention
                                  • VA Plan v NJ Plan
                                  • Virginia Plan ldquoLarge State Planrdquo
                                  • New Jersey Plan ldquoSmall State Planrdquo
                                  • Your Task
                                  • Closure
                                  • States agree
                                  • Quote
                                  • Structure of Constitution
                                  • Structure of Constitution
                                  • 6 Purpose of Government
                                  • Structure of Constitution (2)
                                  • Structure of Constitution (3)
                                  • Principles of Constitution
                                  • Activity
                                  • Slide 60
                                  • Check for Understanding Six Principles
                                  • Question 1
                                  • Question 2
                                  • Question 3
                                  • Question 4
                                  • Question 5
                                  • Question 6
                                  • Question 7
                                  • Question 8
                                  • Groups
                                  • Separation of Powers
                                  • Video
                                  • Checks and Balances
                                  • Slide 74
                                  • Checks and balances
                                  • Basic Principles
                                  • Self- Worth
                                  • Equality
                                  • Compromise
                                  • Individual Freedom
                                  • Write your ownhellip
                                  • Slide 82
                                  • TED Talk
                                  • Closure
                                  • What is Economics
                                  • Economics ishellip
                                  • Back to our assumptionshellip
                                  • Scarcity refers to the limited number of resources (factors of
                                  • For the videohellip
                                  • Slide 90
                                  • Post Videohellip
                                  • Advertisement
                                  • Political Cartoon Analysis
                                  • Factors of Production
                                  • TASK
                                  • The price ofhellip
                                  • Economic efficiency is achieved when all available resources ar
                                  • 1 What to produce
                                  • 2 How to produce it
                                  • 3 For whom to produce it
                                  • Application Activity
                                  • EQs
                                  • Objectives amp Essential Questions
                                  • Group Activity Budget Activity
                                  • Slide 105
                                  • How do we satisfy our economic wants
                                  • How do we make goods amp services
                                  • Economic Interdependence
                                  • Slide 109
                                  • Making Choices to Deal With Scarcity
                                  • Exampleshellip
                                  • Task Reflecting on Personal Trade-offshellip
                                  • Opportunity Cost
                                  • What else influences your choices
                                  • Finallyhellip Why it Matters
                                  • Visualizing the Relationshiphellip
                                  • ObjectivesEssential Questions
                                  • How Can We Measure What We Gain and Lose When Making Choices
                                  • Production Possibilities Frontier
                                  • PPF Assumptions
                                  • Slide 121
                                  • Production Possibilities Curve
                                  • The Choices Nations Make
                                  • Economic Growth
                                  • The Classic Guns and Butter example
                                  • Productivity
                                  • Locations on a PPF
                                  • Slide 128
                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                  • Economic Systems
                                  • Jigsaw activity
                                  • Slide 132
                                  • Economic amp Social Goals of an Economic System
                                  • Review of Economic Systems
                                  • Slide 135
                                  • What are the most important goals of each economic system
                                  • Which economic system does the US use
                                  • The American Economic System
                                  • The US mixed economy
                                  • Slide 140
                                  • Think backhellip
                                  • US Economic System Characteristics
                                  • Slide 143
                                  • Understanding how all parts fit together
                                  • Marriage Vows
                                  • Do you remember
                                  • Slide 147

                                    Purpose of Government

                                    We the People of the United States in Order to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America

                                    According to the Preamble what are the 6 purposes of our government

                                    Purpose of Government

                                    form a more perfect Union establish Justice the law must be

                                    reasonable fair and impartialinsure domestic Tranquility order is

                                    essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                                    guarantee civil rights and liberties

                                    3 Theorists bullThree classical theorists believed in the

                                    need for government for different reasonsEach reason accepted the assumption that

                                    men are invested in their own self-interestbullHobbes Locke Rousseau

                                    ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                                    governmentbullDecide which idea is a belief about the natural

                                    state of manbullBased on these ideas decide which quote

                                    belongs to which theoristbullExplain the quote in your own words and how

                                    it relates to each personrsquos beliefs about government and the natural state of man

                                    Origins of American Government A customized government

                                    bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                                    Developed notion of social contract between rulers and their subjects

                                    Believed people were too selfish to govern themselves

                                    ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                                    Origins of American Government A customized government

                                    bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                                    Ideas helped lay foundations for democratic government

                                    Believed people formed governments to protect their rights and were innately good

                                    ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                                    Origins of American Government A customized government

                                    bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                                    Believed people were naturally good but corrupted and enslaved by society

                                    Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                                    ldquoForce does not create right obedience is due to only legitimate powersrdquo

                                    With which theory do you agree more Why

                                    John Locke Thomas Hobbes

                                    The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                    purpose of government Government needs to attain power from the

                                    people in order to perform any functions

                                    CLOSURE How much power is too much How much

                                    liberty should be given up hellip bullThis represented a debated trade offhellip

                                    Clash of order and freedom= Original Dilemma

                                    Warm Up 5 Hobbes and Locke

                                    Hobbes

                                    Locke

                                    Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                    Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                    Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                    Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                    Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                    Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                    Group 2JakeShawnKatieDrewWyattKatAshlyn

                                    Group 3JennaCeatonJeffLivSteveGarciaTom

                                    Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                    Balloon Game Objective

                                    To be the team with the most filled balloons taped into the square on the board Rules

                                    1 No running 2 No touching classmates hellip that does

                                    not mean you canrsquot touch their balloons hellip

                                    3 No removal of balloons once they are taped to the board

                                    You will have less than 5 minutes to come up with a strategy in your group

                                    You will have 10 minutes to get as many filled balloons on the square as possible

                                    End

                                    >

                                    Balloon Game Debriefing What type of behavior did you see during the

                                    game

                                    List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                    Why do you think you needed more ldquorulesrdquo during

                                    this game

                                    How does this relate to this class How does it relate to the theorists

                                    Political Theories

                                    Force Theory small group forced

                                    all to submit to person andor grouprsquos rule

                                    Evolutionary Theory developed naturally out of the

                                    evolution of the family

                                    Divine Right held that God created the state

                                    and God had given those of royal birth

                                    ldquodivine rightrdquo to rule

                                    Social Contract argues that state arose out of a

                                    voluntary act of free people State exists only

                                    to serve the will of the people

                                    Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                    power to a government to protect them and serve their interests

                                    bullFree to remove that power at any timebullGovernment can only create laws when it

                                    has the consent of the governedbullExamples

                                    Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                    cannot be taken away by any one (government)

                                    bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                    bull Idea of consent derived from social contract theory

                                    Democracybull A system of government in which in

                                    theory the people rule either directly or indirectly

                                    bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                    Concepts of Governmentbull Ordered governmentmdashneed for order

                                    bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                    bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                    Warm up 6 ndash 91114

                                    Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                    are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                    Warm Up 7

                                    bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                    And after the ConstitutionFederalism vs Anti-Federalism

                                    bullFederalists believed Favored ratification believed Constitution was

                                    strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                    bullAnti-Federalists believed Opposed ratification believed Constitution

                                    was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                    Activity

                                    bullEach of you will get a card it either has a termperson or a definition on it

                                    bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                    bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                    secret with your partner

                                    Picture Activity

                                    bullGallery Walk

                                    Constitutional Convention

                                    bullMet in Philadelphia in 1787

                                    bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                    bullThese men were collectively known as ldquoThe Framersrdquo

                                    Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                    Confederation bullDelegates quickly realized they were

                                    meeting to create a new government (with 3 branches)

                                    VA Plan v NJ Plan

                                    Several plans were proposed to correct the weaknesses of the Articles

                                    bullVirginia PlanbullNew Jersey Plan

                                    Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                    Virginia Plan ldquoLarge State Planrdquo

                                    bullStrong central govrsquotbullL Bicameral Congress

                                    Representation based on population

                                    bullE ldquoPresidentrdquo Chosen by Congress

                                    bullJ 1+ supreme courts with lower courtsChosen by Congress

                                    New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                    Each state would have = representationExpand power to tax amp regulate trade

                                    bullE Two-person presidencyChosen by Congress able to be removed

                                    bullJ Single Supreme CourtChosen by Executive

                                    Your Task

                                    Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                    them to choose your planUse catchy phrasesslogans and be sure to

                                    include the historical features of your plan (VA or NJ)

                                    At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                    Closure

                                    bullWhat do you think (or know) happens to these two plans

                                    States agreebull States agree to (ratify) the Constitution

                                    only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                    bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                    Quote

                                    bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                    bullWhat words stick to you in this quote Why

                                    Structure of Constitutionbull Provides basic

                                    framework for US government

                                    bull Outlines basic principles structure and processes

                                    bull Three partsmdashPreambleArticlesAmendments

                                    Structure of Constitution bull Preamble

                                    Introduction to the Constitution Lists ideas that the government should stand for

                                    and states purposes We the people of the United States in Order

                                    to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                    6 Purpose of Government bull Form a More Perfect Union

                                    bull Establish Justice bull Insure Domestic Tranquility

                                    bull Provide for the Common Defense

                                    bull Promote the General Welfare

                                    bull Secure the Blessings of Liberty

                                    For each phrase consider the followinghellip

                                    1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                    2 Is this phrase important today

                                    Structure of Constitution bullArticles

                                    Main body of the Constitution Lay out basic structure of the national

                                    governmentFurther broken down into sections and clauses

                                    Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                    Clause oaths of office

                                    Article VII Ratification

                                    Structure of Constitution

                                    bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                    Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                    bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                    Activity

                                    Activity bull STEP 1 bull Fill in the graphic

                                    organizer in your guided notes packet You have 8 minutes on your own to do this

                                    bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                    Principle Explanation

                                    Popular Sovereignty Idea that people are the source of all power held by the government

                                    Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                    Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                    Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                    Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                    Federalism Divides the power between the central government and the States

                                    Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                    Question 1

                                    bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                    Popular Sovereignty

                                    Question 2

                                    bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                    Limited Government

                                    Question 3

                                    bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                    Limited Government

                                    Question 4

                                    bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                    SEPARATION OF POWERS

                                    Question 5

                                    bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                    Checks and Balances

                                    Question 6

                                    bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                    CHECKS AND BALANCES

                                    Question 7

                                    bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                    JUDICIAL REVIEW

                                    Question 8

                                    bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                    Federalism

                                    GroupsPopular

                                    SovereigntySeparation of

                                    PowersFederalism

                                    bull bull bull

                                    Judicial Review

                                    Limited Government

                                    Checks and Balances

                                    bull bull bull

                                    Separation of Powers

                                    bull Legislative branchmdashmakes the laws

                                    bull Executive branchmdashenforces the laws

                                    bull Judicial branchmdashinterprets the law

                                    Video

                                    bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                    Checks and Balances

                                    Checks and balances

                                    bullIn what was do the branches check on one another

                                    bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                    Basic Principles

                                    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                    Self- Worth

                                    bull A recognition of the fundamental worth of every person

                                    bull The democratic process reflects the collective set of individuals who make up society

                                    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                    Compromise

                                    bull A matter of compromise to determine the position most acceptable to the largest number of people

                                    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                    bullWhy is compromise important

                                    Individual Freedombull Right of the

                                    individual to be free as far as the freedom of all will allow

                                    bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                    Write your ownhellipbull Now that you know what the foundations of

                                    government arehellip Create your own Constitution (Or social contract)

                                    What do you think is important to include What do you think could be taken out

                                    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                    Preamble (brief introduction) Articles (what should it include based on what we

                                    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                    change it)

                                    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                    paper

                                    TED Talk

                                    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                    Closure

                                    bullExplain two principles of the constitution and how are they connected

                                    What is Economics

                                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                    Important Parts of Economicsndash

                                    CHOICESSCARCITY

                                    Economics ishellip

                                    bullDependent upon assumptions

                                    bullDependent upon simplification of reality

                                    Back to our assumptionshellip

                                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                    bullAll sellers seek to maximize profits

                                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                    For the videohellip

                                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                    Post Videohellip

                                    bullDefine the main idea of the video in 4-5 words

                                    Advertisement

                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                    3 images that represent different economic ideas

                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                    1 slogan that represents why economics is an important course to take

                                    Political Cartoon Analysis

                                    Factors of Production bull LAND

                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                    soil minerals water and plants

                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                    into producing goodsservices

                                    bull CAPITAL Includes tools machines buildings and

                                    technologies

                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                    land labor and capital to produce goods and services

                                    TASK

                                    bullTask Why are entrepreneurs the driving force in our economy

                                    bullAnswer in 2-3 sentences

                                    The price ofhellip

                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                    Economic efficiency is achieved when all available resources are being used

                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                    1 What to produce

                                    bullShould it be military or civilian goods

                                    bullFood or clothingbullMedicine or movies

                                    2 How to produce it

                                    bullAutomated or manual labor

                                    bullExpensive or cheap materials

                                    bullDomestic or overseas labor

                                    3 For whom to produce it

                                    bullThe wealthy or the needybullThe sick or the healthy

                                    Application Activity

                                    bull In groups of 2-3 create your own country (name it please)

                                    bull With your countryrsquos name explain the Population geography and general population

                                    information (iehellipbull Choose 5 items for your country to produce and

                                    answer the three societal questions for eachALSO explain why this material would help your

                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                    withhellip Images representing what you produce and a

                                    slogan for why your country is awesome

                                    EQs

                                    bullHow does scarcity impact decision making

                                    Objectives amp Essential QuestionsbullObjectives

                                    I will be able to create and reflect on a budget given new economics content

                                    I will be able to understand scarcity and our mixed economy

                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                    Group Activity Budget Activity

                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                    How do we satisfy our economic wants

                                    bull We buy goods or services

                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                    bull Service ndash work done by someone else for which someone is willing to pay

                                    How do we make goods amp services

                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                    Production Equation

                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                    inputs output

                                    Economic Interdependence

                                    bullWhat does lsquointerdependencersquo mean

                                    bullIs our world becoming economic interdependent or independent

                                    bullEconomic Interdependence the actions of one part of the

                                    country (world) has an impact on what happens elsewhere

                                    Wants amp Needs gt

                                    Resources

                                    Because of scarcity we

                                    have to make choices

                                    How do we make a choice What do we give up

                                    What does this remind you of from our government unit

                                    Making Choices to Deal With Scarcity

                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                    decision over another

                                    ExampleshellipbullSome choices are easy to makehellip

                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                    school today or should I sleep in

                                    Task Reflecting on Personal Trade-offshellip

                                    In the end what helped you decide amongst your choices

                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                    tradeoffs for that decision

                                    Be prepared to share

                                    Opportunity Cost

                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                    Opportunity Cost ndash The best thing we give up to get what

                                    we want

                                    What else influences your choices

                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                    FinallyhellipWhy it Matters

                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                    better decision-maker

                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                    You always have to give something uphelliprdquo

                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                    decisions

                                    Visualizing the Relationshiphellip

                                    Limited Resources amp Unlimited Wants

                                    Scarcity

                                    Trade-offs (choices)

                                    Opportunity Costs

                                    ObjectivesEssential Questions

                                    bullObjectivebullI will be able to understand (and teach)

                                    the three different types of economies

                                    bullEssential Question How do the different types of economies work

                                    How Can We Measure What We Gain and Lose When

                                    Making Choices

                                    Answer With a Production Possibilities Frontier

                                    Production Possibilities Frontier

                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                    PPF Assumptions

                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                    Production Possibilities Curve

                                    CD

                                    E

                                    OU

                                    TP

                                    UT

                                    OF

                                    CO

                                    NS

                                    UM

                                    ER

                                    GO

                                    OD

                                    S

                                    (un

                                    its

                                    per

                                    yea

                                    r)

                                    OUTPUT OF MILITARY GOODS (units per year)

                                    A

                                    BO

                                    XF

                                    G

                                    Limited resources necessitate choices about WHAT to produce

                                    The Choices Nations Make

                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                    bullProduce military goods or consumer goods

                                    Economic Growth

                                    2000 production possibilities

                                    1900 production possibilities

                                    OU

                                    TP

                                    UT

                                    OF

                                    CO

                                    NS

                                    UM

                                    ER

                                    GO

                                    OD

                                    S(u

                                    nits

                                    per

                                    yea

                                    r)

                                    OUTPUT OF MILITARY GOODS (units per year)

                                    Production possibilities increases with more resources and technology

                                    The Classic Guns and Butter example

                                    Guns

                                    Butter

                                    10000 20000 30000 40000 50000

                                    1000009500085000

                                    70000

                                    5000040000

                                    BA

                                    C

                                    D

                                    E

                                    F

                                    At point A all resources are used for butter

                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                    At point F all resources are used for Guns

                                    Productivitybull A PPF can help us see how efficient our

                                    choices are

                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                    Locations on a PPF

                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                    Food

                                    Computer

                                    4

                                    3

                                    2

                                    1

                                    1 2 3 4

                                    OC between 1 and 2 computers = 1 Food

                                    UnitOC between 3 and 4 computers = 1 Food

                                    Unit

                                    Constantly giving up the same quantity of food to get

                                    additional computers

                                    STRAIGHT-LINE PPFs Constant OC

                                    BOWED-OUT PPFs VaryingIncreasing OC

                                    Principle of Increasing Costs

                                    As a society produces more of one product the OC of producing

                                    that product increases because we are using more resources that are poorly suited to produce it

                                    Economic Systems

                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                    How a society answers the three basic economic questions determines which type of economic system they are

                                    Three Types of Economic Systems Command Traditional Market

                                    Jigsaw activity

                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                    bullYou will have 7 minutes to read and come up with 4 key components

                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                    Economic amp Social Goals of an Economic System

                                    bull Economic Freedom

                                    bull Economic Efficiency

                                    bull Economic Equity

                                    bull Economic Security

                                    Economic Stability

                                    Economic Growth

                                    Review of Economic Systems

                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                    What are the most important goals of each economic system

                                    bullTraditionalSecurity and

                                    StabilitybullCommand

                                    Equity and Security

                                    bullMARKETEfficiency and

                                    Freedom

                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                    at the expense of another (TRADEOFFS)

                                    Which economic system does the US use

                                    The American Economic System

                                    bullWe have a mixed market economy

                                    COMMAND MARKET

                                    The US mixed economybull In a mixed economyhellip

                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                    Think backhellip

                                    bullWhat does this remind you of from the beginning of the unit

                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                    2 Limited government

                                    3 Equal opportunity

                                    4 Competition

                                    5 Profit motive

                                    6 Property Rights

                                    7 Binding Contracts

                                    Understanding how all parts fit together

                                    Circular Flow of Economic Activity Represents a market economy

                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                    Shows interdependence between

                                    businesses and individuals

                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                    bull Using what you have learned this unit and using the textbook

                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                    Do you remember

                                    bullWrite the following question downbullWhy does the United States have a

                                    democracy and mixed economy

                                    • Foundations of Government and Economics
                                    • On your blank piece of paperhellip
                                    • Slide 3
                                    • Warm-Up 1 - 9414
                                    • Introductory thoughts hellip
                                    • Slide 6
                                    • 2 How about to your life
                                    • Slide 8
                                    • Slide 9
                                    • Slide 10
                                    • Slide 11
                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                    • Warm up 2bndash In Journal-
                                    • Economist and Politician Assumptions
                                    • Individualism
                                    • Quote activity
                                    • Quote breakdown
                                    • Warm Up 3- Current Event 9814
                                    • Purpose of Government
                                    • Slide 20
                                    • 3 Theorists
                                    • Activity
                                    • Origins of American Government A customized government
                                    • Origins of American Government A customized government (2)
                                    • Origins of American Government A customized government (3)
                                    • With which theory do you agree more Why
                                    • The ldquoOriginal Dilemmardquo
                                    • Warm Up 5 Hobbes and Locke
                                    • Groups Block 2
                                    • Groups Block 4
                                    • Balloon Game
                                    • You will have 10 minutes to get as many filled balloons on the
                                    • Balloon Game Debriefing
                                    • Political Theories
                                    • Social Contract
                                    • Natural Rights
                                    • Democracy
                                    • Concepts of Government
                                    • Warm up 6 ndash 91114
                                    • Warm Up 7
                                    • And after the Constitution
                                    • Activity (2)
                                    • Picture Activity
                                    • Constitutional Convention
                                    • Purpose of the Convention
                                    • VA Plan v NJ Plan
                                    • Virginia Plan ldquoLarge State Planrdquo
                                    • New Jersey Plan ldquoSmall State Planrdquo
                                    • Your Task
                                    • Closure
                                    • States agree
                                    • Quote
                                    • Structure of Constitution
                                    • Structure of Constitution
                                    • 6 Purpose of Government
                                    • Structure of Constitution (2)
                                    • Structure of Constitution (3)
                                    • Principles of Constitution
                                    • Activity
                                    • Slide 60
                                    • Check for Understanding Six Principles
                                    • Question 1
                                    • Question 2
                                    • Question 3
                                    • Question 4
                                    • Question 5
                                    • Question 6
                                    • Question 7
                                    • Question 8
                                    • Groups
                                    • Separation of Powers
                                    • Video
                                    • Checks and Balances
                                    • Slide 74
                                    • Checks and balances
                                    • Basic Principles
                                    • Self- Worth
                                    • Equality
                                    • Compromise
                                    • Individual Freedom
                                    • Write your ownhellip
                                    • Slide 82
                                    • TED Talk
                                    • Closure
                                    • What is Economics
                                    • Economics ishellip
                                    • Back to our assumptionshellip
                                    • Scarcity refers to the limited number of resources (factors of
                                    • For the videohellip
                                    • Slide 90
                                    • Post Videohellip
                                    • Advertisement
                                    • Political Cartoon Analysis
                                    • Factors of Production
                                    • TASK
                                    • The price ofhellip
                                    • Economic efficiency is achieved when all available resources ar
                                    • 1 What to produce
                                    • 2 How to produce it
                                    • 3 For whom to produce it
                                    • Application Activity
                                    • EQs
                                    • Objectives amp Essential Questions
                                    • Group Activity Budget Activity
                                    • Slide 105
                                    • How do we satisfy our economic wants
                                    • How do we make goods amp services
                                    • Economic Interdependence
                                    • Slide 109
                                    • Making Choices to Deal With Scarcity
                                    • Exampleshellip
                                    • Task Reflecting on Personal Trade-offshellip
                                    • Opportunity Cost
                                    • What else influences your choices
                                    • Finallyhellip Why it Matters
                                    • Visualizing the Relationshiphellip
                                    • ObjectivesEssential Questions
                                    • How Can We Measure What We Gain and Lose When Making Choices
                                    • Production Possibilities Frontier
                                    • PPF Assumptions
                                    • Slide 121
                                    • Production Possibilities Curve
                                    • The Choices Nations Make
                                    • Economic Growth
                                    • The Classic Guns and Butter example
                                    • Productivity
                                    • Locations on a PPF
                                    • Slide 128
                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                    • Economic Systems
                                    • Jigsaw activity
                                    • Slide 132
                                    • Economic amp Social Goals of an Economic System
                                    • Review of Economic Systems
                                    • Slide 135
                                    • What are the most important goals of each economic system
                                    • Which economic system does the US use
                                    • The American Economic System
                                    • The US mixed economy
                                    • Slide 140
                                    • Think backhellip
                                    • US Economic System Characteristics
                                    • Slide 143
                                    • Understanding how all parts fit together
                                    • Marriage Vows
                                    • Do you remember
                                    • Slide 147

                                      Purpose of Government

                                      form a more perfect Union establish Justice the law must be

                                      reasonable fair and impartialinsure domestic Tranquility order is

                                      essential to the well-being of societyprovide for the common defensepromote the general Welfaresecure the Blessings of Liberty

                                      guarantee civil rights and liberties

                                      3 Theorists bullThree classical theorists believed in the

                                      need for government for different reasonsEach reason accepted the assumption that

                                      men are invested in their own self-interestbullHobbes Locke Rousseau

                                      ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                                      governmentbullDecide which idea is a belief about the natural

                                      state of manbullBased on these ideas decide which quote

                                      belongs to which theoristbullExplain the quote in your own words and how

                                      it relates to each personrsquos beliefs about government and the natural state of man

                                      Origins of American Government A customized government

                                      bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                                      Developed notion of social contract between rulers and their subjects

                                      Believed people were too selfish to govern themselves

                                      ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                                      Origins of American Government A customized government

                                      bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                                      Ideas helped lay foundations for democratic government

                                      Believed people formed governments to protect their rights and were innately good

                                      ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                                      Origins of American Government A customized government

                                      bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                                      Believed people were naturally good but corrupted and enslaved by society

                                      Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                                      ldquoForce does not create right obedience is due to only legitimate powersrdquo

                                      With which theory do you agree more Why

                                      John Locke Thomas Hobbes

                                      The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                      purpose of government Government needs to attain power from the

                                      people in order to perform any functions

                                      CLOSURE How much power is too much How much

                                      liberty should be given up hellip bullThis represented a debated trade offhellip

                                      Clash of order and freedom= Original Dilemma

                                      Warm Up 5 Hobbes and Locke

                                      Hobbes

                                      Locke

                                      Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                      Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                      Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                      Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                      Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                      Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                      Group 2JakeShawnKatieDrewWyattKatAshlyn

                                      Group 3JennaCeatonJeffLivSteveGarciaTom

                                      Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                      Balloon Game Objective

                                      To be the team with the most filled balloons taped into the square on the board Rules

                                      1 No running 2 No touching classmates hellip that does

                                      not mean you canrsquot touch their balloons hellip

                                      3 No removal of balloons once they are taped to the board

                                      You will have less than 5 minutes to come up with a strategy in your group

                                      You will have 10 minutes to get as many filled balloons on the square as possible

                                      End

                                      >

                                      Balloon Game Debriefing What type of behavior did you see during the

                                      game

                                      List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                      Why do you think you needed more ldquorulesrdquo during

                                      this game

                                      How does this relate to this class How does it relate to the theorists

                                      Political Theories

                                      Force Theory small group forced

                                      all to submit to person andor grouprsquos rule

                                      Evolutionary Theory developed naturally out of the

                                      evolution of the family

                                      Divine Right held that God created the state

                                      and God had given those of royal birth

                                      ldquodivine rightrdquo to rule

                                      Social Contract argues that state arose out of a

                                      voluntary act of free people State exists only

                                      to serve the will of the people

                                      Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                      power to a government to protect them and serve their interests

                                      bullFree to remove that power at any timebullGovernment can only create laws when it

                                      has the consent of the governedbullExamples

                                      Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                      cannot be taken away by any one (government)

                                      bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                      bull Idea of consent derived from social contract theory

                                      Democracybull A system of government in which in

                                      theory the people rule either directly or indirectly

                                      bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                      Concepts of Governmentbull Ordered governmentmdashneed for order

                                      bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                      bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                      Warm up 6 ndash 91114

                                      Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                      are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                      Warm Up 7

                                      bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                      And after the ConstitutionFederalism vs Anti-Federalism

                                      bullFederalists believed Favored ratification believed Constitution was

                                      strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                      bullAnti-Federalists believed Opposed ratification believed Constitution

                                      was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                      Activity

                                      bullEach of you will get a card it either has a termperson or a definition on it

                                      bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                      bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                      secret with your partner

                                      Picture Activity

                                      bullGallery Walk

                                      Constitutional Convention

                                      bullMet in Philadelphia in 1787

                                      bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                      bullThese men were collectively known as ldquoThe Framersrdquo

                                      Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                      Confederation bullDelegates quickly realized they were

                                      meeting to create a new government (with 3 branches)

                                      VA Plan v NJ Plan

                                      Several plans were proposed to correct the weaknesses of the Articles

                                      bullVirginia PlanbullNew Jersey Plan

                                      Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                      Virginia Plan ldquoLarge State Planrdquo

                                      bullStrong central govrsquotbullL Bicameral Congress

                                      Representation based on population

                                      bullE ldquoPresidentrdquo Chosen by Congress

                                      bullJ 1+ supreme courts with lower courtsChosen by Congress

                                      New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                      Each state would have = representationExpand power to tax amp regulate trade

                                      bullE Two-person presidencyChosen by Congress able to be removed

                                      bullJ Single Supreme CourtChosen by Executive

                                      Your Task

                                      Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                      them to choose your planUse catchy phrasesslogans and be sure to

                                      include the historical features of your plan (VA or NJ)

                                      At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                      Closure

                                      bullWhat do you think (or know) happens to these two plans

                                      States agreebull States agree to (ratify) the Constitution

                                      only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                      bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                      Quote

                                      bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                      bullWhat words stick to you in this quote Why

                                      Structure of Constitutionbull Provides basic

                                      framework for US government

                                      bull Outlines basic principles structure and processes

                                      bull Three partsmdashPreambleArticlesAmendments

                                      Structure of Constitution bull Preamble

                                      Introduction to the Constitution Lists ideas that the government should stand for

                                      and states purposes We the people of the United States in Order

                                      to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                      6 Purpose of Government bull Form a More Perfect Union

                                      bull Establish Justice bull Insure Domestic Tranquility

                                      bull Provide for the Common Defense

                                      bull Promote the General Welfare

                                      bull Secure the Blessings of Liberty

                                      For each phrase consider the followinghellip

                                      1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                      2 Is this phrase important today

                                      Structure of Constitution bullArticles

                                      Main body of the Constitution Lay out basic structure of the national

                                      governmentFurther broken down into sections and clauses

                                      Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                      Clause oaths of office

                                      Article VII Ratification

                                      Structure of Constitution

                                      bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                      Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                      bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                      Activity

                                      Activity bull STEP 1 bull Fill in the graphic

                                      organizer in your guided notes packet You have 8 minutes on your own to do this

                                      bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                      Principle Explanation

                                      Popular Sovereignty Idea that people are the source of all power held by the government

                                      Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                      Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                      Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                      Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                      Federalism Divides the power between the central government and the States

                                      Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                      Question 1

                                      bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                      Popular Sovereignty

                                      Question 2

                                      bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                      Limited Government

                                      Question 3

                                      bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                      Limited Government

                                      Question 4

                                      bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                      SEPARATION OF POWERS

                                      Question 5

                                      bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                      Checks and Balances

                                      Question 6

                                      bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                      CHECKS AND BALANCES

                                      Question 7

                                      bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                      JUDICIAL REVIEW

                                      Question 8

                                      bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                      Federalism

                                      GroupsPopular

                                      SovereigntySeparation of

                                      PowersFederalism

                                      bull bull bull

                                      Judicial Review

                                      Limited Government

                                      Checks and Balances

                                      bull bull bull

                                      Separation of Powers

                                      bull Legislative branchmdashmakes the laws

                                      bull Executive branchmdashenforces the laws

                                      bull Judicial branchmdashinterprets the law

                                      Video

                                      bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                      Checks and Balances

                                      Checks and balances

                                      bullIn what was do the branches check on one another

                                      bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                      Basic Principles

                                      bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                      Self- Worth

                                      bull A recognition of the fundamental worth of every person

                                      bull The democratic process reflects the collective set of individuals who make up society

                                      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                      Compromise

                                      bull A matter of compromise to determine the position most acceptable to the largest number of people

                                      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                      bullWhy is compromise important

                                      Individual Freedombull Right of the

                                      individual to be free as far as the freedom of all will allow

                                      bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                      Write your ownhellipbull Now that you know what the foundations of

                                      government arehellip Create your own Constitution (Or social contract)

                                      What do you think is important to include What do you think could be taken out

                                      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                      Preamble (brief introduction) Articles (what should it include based on what we

                                      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                      change it)

                                      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                      paper

                                      TED Talk

                                      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                      Closure

                                      bullExplain two principles of the constitution and how are they connected

                                      What is Economics

                                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                      Important Parts of Economicsndash

                                      CHOICESSCARCITY

                                      Economics ishellip

                                      bullDependent upon assumptions

                                      bullDependent upon simplification of reality

                                      Back to our assumptionshellip

                                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                      bullAll sellers seek to maximize profits

                                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                      For the videohellip

                                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                      Post Videohellip

                                      bullDefine the main idea of the video in 4-5 words

                                      Advertisement

                                      bullKnowing some of the basics about what economics is and why we study ithellip

                                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                      3 images that represent different economic ideas

                                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                      1 slogan that represents why economics is an important course to take

                                      Political Cartoon Analysis

                                      Factors of Production bull LAND

                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                      soil minerals water and plants

                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                      into producing goodsservices

                                      bull CAPITAL Includes tools machines buildings and

                                      technologies

                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                      land labor and capital to produce goods and services

                                      TASK

                                      bullTask Why are entrepreneurs the driving force in our economy

                                      bullAnswer in 2-3 sentences

                                      The price ofhellip

                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                      Economic efficiency is achieved when all available resources are being used

                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                      1 What to produce

                                      bullShould it be military or civilian goods

                                      bullFood or clothingbullMedicine or movies

                                      2 How to produce it

                                      bullAutomated or manual labor

                                      bullExpensive or cheap materials

                                      bullDomestic or overseas labor

                                      3 For whom to produce it

                                      bullThe wealthy or the needybullThe sick or the healthy

                                      Application Activity

                                      bull In groups of 2-3 create your own country (name it please)

                                      bull With your countryrsquos name explain the Population geography and general population

                                      information (iehellipbull Choose 5 items for your country to produce and

                                      answer the three societal questions for eachALSO explain why this material would help your

                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                      withhellip Images representing what you produce and a

                                      slogan for why your country is awesome

                                      EQs

                                      bullHow does scarcity impact decision making

                                      Objectives amp Essential QuestionsbullObjectives

                                      I will be able to create and reflect on a budget given new economics content

                                      I will be able to understand scarcity and our mixed economy

                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                      Group Activity Budget Activity

                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                      How do we satisfy our economic wants

                                      bull We buy goods or services

                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                      bull Service ndash work done by someone else for which someone is willing to pay

                                      How do we make goods amp services

                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                      Production Equation

                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                      inputs output

                                      Economic Interdependence

                                      bullWhat does lsquointerdependencersquo mean

                                      bullIs our world becoming economic interdependent or independent

                                      bullEconomic Interdependence the actions of one part of the

                                      country (world) has an impact on what happens elsewhere

                                      Wants amp Needs gt

                                      Resources

                                      Because of scarcity we

                                      have to make choices

                                      How do we make a choice What do we give up

                                      What does this remind you of from our government unit

                                      Making Choices to Deal With Scarcity

                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                      decision over another

                                      ExampleshellipbullSome choices are easy to makehellip

                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                      school today or should I sleep in

                                      Task Reflecting on Personal Trade-offshellip

                                      In the end what helped you decide amongst your choices

                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                      tradeoffs for that decision

                                      Be prepared to share

                                      Opportunity Cost

                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                      Opportunity Cost ndash The best thing we give up to get what

                                      we want

                                      What else influences your choices

                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                      FinallyhellipWhy it Matters

                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                      better decision-maker

                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                      You always have to give something uphelliprdquo

                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                      decisions

                                      Visualizing the Relationshiphellip

                                      Limited Resources amp Unlimited Wants

                                      Scarcity

                                      Trade-offs (choices)

                                      Opportunity Costs

                                      ObjectivesEssential Questions

                                      bullObjectivebullI will be able to understand (and teach)

                                      the three different types of economies

                                      bullEssential Question How do the different types of economies work

                                      How Can We Measure What We Gain and Lose When

                                      Making Choices

                                      Answer With a Production Possibilities Frontier

                                      Production Possibilities Frontier

                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                      PPF Assumptions

                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                      Production Possibilities Curve

                                      CD

                                      E

                                      OU

                                      TP

                                      UT

                                      OF

                                      CO

                                      NS

                                      UM

                                      ER

                                      GO

                                      OD

                                      S

                                      (un

                                      its

                                      per

                                      yea

                                      r)

                                      OUTPUT OF MILITARY GOODS (units per year)

                                      A

                                      BO

                                      XF

                                      G

                                      Limited resources necessitate choices about WHAT to produce

                                      The Choices Nations Make

                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                      bullProduce military goods or consumer goods

                                      Economic Growth

                                      2000 production possibilities

                                      1900 production possibilities

                                      OU

                                      TP

                                      UT

                                      OF

                                      CO

                                      NS

                                      UM

                                      ER

                                      GO

                                      OD

                                      S(u

                                      nits

                                      per

                                      yea

                                      r)

                                      OUTPUT OF MILITARY GOODS (units per year)

                                      Production possibilities increases with more resources and technology

                                      The Classic Guns and Butter example

                                      Guns

                                      Butter

                                      10000 20000 30000 40000 50000

                                      1000009500085000

                                      70000

                                      5000040000

                                      BA

                                      C

                                      D

                                      E

                                      F

                                      At point A all resources are used for butter

                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                      At point F all resources are used for Guns

                                      Productivitybull A PPF can help us see how efficient our

                                      choices are

                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                      Locations on a PPF

                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                      Food

                                      Computer

                                      4

                                      3

                                      2

                                      1

                                      1 2 3 4

                                      OC between 1 and 2 computers = 1 Food

                                      UnitOC between 3 and 4 computers = 1 Food

                                      Unit

                                      Constantly giving up the same quantity of food to get

                                      additional computers

                                      STRAIGHT-LINE PPFs Constant OC

                                      BOWED-OUT PPFs VaryingIncreasing OC

                                      Principle of Increasing Costs

                                      As a society produces more of one product the OC of producing

                                      that product increases because we are using more resources that are poorly suited to produce it

                                      Economic Systems

                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                      How a society answers the three basic economic questions determines which type of economic system they are

                                      Three Types of Economic Systems Command Traditional Market

                                      Jigsaw activity

                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                      bullYou will have 7 minutes to read and come up with 4 key components

                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                      Economic amp Social Goals of an Economic System

                                      bull Economic Freedom

                                      bull Economic Efficiency

                                      bull Economic Equity

                                      bull Economic Security

                                      Economic Stability

                                      Economic Growth

                                      Review of Economic Systems

                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                      What are the most important goals of each economic system

                                      bullTraditionalSecurity and

                                      StabilitybullCommand

                                      Equity and Security

                                      bullMARKETEfficiency and

                                      Freedom

                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                      at the expense of another (TRADEOFFS)

                                      Which economic system does the US use

                                      The American Economic System

                                      bullWe have a mixed market economy

                                      COMMAND MARKET

                                      The US mixed economybull In a mixed economyhellip

                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                      Think backhellip

                                      bullWhat does this remind you of from the beginning of the unit

                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                      2 Limited government

                                      3 Equal opportunity

                                      4 Competition

                                      5 Profit motive

                                      6 Property Rights

                                      7 Binding Contracts

                                      Understanding how all parts fit together

                                      Circular Flow of Economic Activity Represents a market economy

                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                      Shows interdependence between

                                      businesses and individuals

                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                      bull Using what you have learned this unit and using the textbook

                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                      Do you remember

                                      bullWrite the following question downbullWhy does the United States have a

                                      democracy and mixed economy

                                      • Foundations of Government and Economics
                                      • On your blank piece of paperhellip
                                      • Slide 3
                                      • Warm-Up 1 - 9414
                                      • Introductory thoughts hellip
                                      • Slide 6
                                      • 2 How about to your life
                                      • Slide 8
                                      • Slide 9
                                      • Slide 10
                                      • Slide 11
                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                      • Warm up 2bndash In Journal-
                                      • Economist and Politician Assumptions
                                      • Individualism
                                      • Quote activity
                                      • Quote breakdown
                                      • Warm Up 3- Current Event 9814
                                      • Purpose of Government
                                      • Slide 20
                                      • 3 Theorists
                                      • Activity
                                      • Origins of American Government A customized government
                                      • Origins of American Government A customized government (2)
                                      • Origins of American Government A customized government (3)
                                      • With which theory do you agree more Why
                                      • The ldquoOriginal Dilemmardquo
                                      • Warm Up 5 Hobbes and Locke
                                      • Groups Block 2
                                      • Groups Block 4
                                      • Balloon Game
                                      • You will have 10 minutes to get as many filled balloons on the
                                      • Balloon Game Debriefing
                                      • Political Theories
                                      • Social Contract
                                      • Natural Rights
                                      • Democracy
                                      • Concepts of Government
                                      • Warm up 6 ndash 91114
                                      • Warm Up 7
                                      • And after the Constitution
                                      • Activity (2)
                                      • Picture Activity
                                      • Constitutional Convention
                                      • Purpose of the Convention
                                      • VA Plan v NJ Plan
                                      • Virginia Plan ldquoLarge State Planrdquo
                                      • New Jersey Plan ldquoSmall State Planrdquo
                                      • Your Task
                                      • Closure
                                      • States agree
                                      • Quote
                                      • Structure of Constitution
                                      • Structure of Constitution
                                      • 6 Purpose of Government
                                      • Structure of Constitution (2)
                                      • Structure of Constitution (3)
                                      • Principles of Constitution
                                      • Activity
                                      • Slide 60
                                      • Check for Understanding Six Principles
                                      • Question 1
                                      • Question 2
                                      • Question 3
                                      • Question 4
                                      • Question 5
                                      • Question 6
                                      • Question 7
                                      • Question 8
                                      • Groups
                                      • Separation of Powers
                                      • Video
                                      • Checks and Balances
                                      • Slide 74
                                      • Checks and balances
                                      • Basic Principles
                                      • Self- Worth
                                      • Equality
                                      • Compromise
                                      • Individual Freedom
                                      • Write your ownhellip
                                      • Slide 82
                                      • TED Talk
                                      • Closure
                                      • What is Economics
                                      • Economics ishellip
                                      • Back to our assumptionshellip
                                      • Scarcity refers to the limited number of resources (factors of
                                      • For the videohellip
                                      • Slide 90
                                      • Post Videohellip
                                      • Advertisement
                                      • Political Cartoon Analysis
                                      • Factors of Production
                                      • TASK
                                      • The price ofhellip
                                      • Economic efficiency is achieved when all available resources ar
                                      • 1 What to produce
                                      • 2 How to produce it
                                      • 3 For whom to produce it
                                      • Application Activity
                                      • EQs
                                      • Objectives amp Essential Questions
                                      • Group Activity Budget Activity
                                      • Slide 105
                                      • How do we satisfy our economic wants
                                      • How do we make goods amp services
                                      • Economic Interdependence
                                      • Slide 109
                                      • Making Choices to Deal With Scarcity
                                      • Exampleshellip
                                      • Task Reflecting on Personal Trade-offshellip
                                      • Opportunity Cost
                                      • What else influences your choices
                                      • Finallyhellip Why it Matters
                                      • Visualizing the Relationshiphellip
                                      • ObjectivesEssential Questions
                                      • How Can We Measure What We Gain and Lose When Making Choices
                                      • Production Possibilities Frontier
                                      • PPF Assumptions
                                      • Slide 121
                                      • Production Possibilities Curve
                                      • The Choices Nations Make
                                      • Economic Growth
                                      • The Classic Guns and Butter example
                                      • Productivity
                                      • Locations on a PPF
                                      • Slide 128
                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                      • Economic Systems
                                      • Jigsaw activity
                                      • Slide 132
                                      • Economic amp Social Goals of an Economic System
                                      • Review of Economic Systems
                                      • Slide 135
                                      • What are the most important goals of each economic system
                                      • Which economic system does the US use
                                      • The American Economic System
                                      • The US mixed economy
                                      • Slide 140
                                      • Think backhellip
                                      • US Economic System Characteristics
                                      • Slide 143
                                      • Understanding how all parts fit together
                                      • Marriage Vows
                                      • Do you remember
                                      • Slide 147

                                        3 Theorists bullThree classical theorists believed in the

                                        need for government for different reasonsEach reason accepted the assumption that

                                        men are invested in their own self-interestbullHobbes Locke Rousseau

                                        ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                                        governmentbullDecide which idea is a belief about the natural

                                        state of manbullBased on these ideas decide which quote

                                        belongs to which theoristbullExplain the quote in your own words and how

                                        it relates to each personrsquos beliefs about government and the natural state of man

                                        Origins of American Government A customized government

                                        bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                                        Developed notion of social contract between rulers and their subjects

                                        Believed people were too selfish to govern themselves

                                        ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                                        Origins of American Government A customized government

                                        bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                                        Ideas helped lay foundations for democratic government

                                        Believed people formed governments to protect their rights and were innately good

                                        ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                                        Origins of American Government A customized government

                                        bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                                        Believed people were naturally good but corrupted and enslaved by society

                                        Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                                        ldquoForce does not create right obedience is due to only legitimate powersrdquo

                                        With which theory do you agree more Why

                                        John Locke Thomas Hobbes

                                        The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                        purpose of government Government needs to attain power from the

                                        people in order to perform any functions

                                        CLOSURE How much power is too much How much

                                        liberty should be given up hellip bullThis represented a debated trade offhellip

                                        Clash of order and freedom= Original Dilemma

                                        Warm Up 5 Hobbes and Locke

                                        Hobbes

                                        Locke

                                        Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                        Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                        Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                        Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                        Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                        Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                        Group 2JakeShawnKatieDrewWyattKatAshlyn

                                        Group 3JennaCeatonJeffLivSteveGarciaTom

                                        Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                        Balloon Game Objective

                                        To be the team with the most filled balloons taped into the square on the board Rules

                                        1 No running 2 No touching classmates hellip that does

                                        not mean you canrsquot touch their balloons hellip

                                        3 No removal of balloons once they are taped to the board

                                        You will have less than 5 minutes to come up with a strategy in your group

                                        You will have 10 minutes to get as many filled balloons on the square as possible

                                        End

                                        >

                                        Balloon Game Debriefing What type of behavior did you see during the

                                        game

                                        List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                        Why do you think you needed more ldquorulesrdquo during

                                        this game

                                        How does this relate to this class How does it relate to the theorists

                                        Political Theories

                                        Force Theory small group forced

                                        all to submit to person andor grouprsquos rule

                                        Evolutionary Theory developed naturally out of the

                                        evolution of the family

                                        Divine Right held that God created the state

                                        and God had given those of royal birth

                                        ldquodivine rightrdquo to rule

                                        Social Contract argues that state arose out of a

                                        voluntary act of free people State exists only

                                        to serve the will of the people

                                        Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                        power to a government to protect them and serve their interests

                                        bullFree to remove that power at any timebullGovernment can only create laws when it

                                        has the consent of the governedbullExamples

                                        Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                        cannot be taken away by any one (government)

                                        bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                        bull Idea of consent derived from social contract theory

                                        Democracybull A system of government in which in

                                        theory the people rule either directly or indirectly

                                        bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                        Concepts of Governmentbull Ordered governmentmdashneed for order

                                        bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                        bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                        Warm up 6 ndash 91114

                                        Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                        are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                        Warm Up 7

                                        bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                        And after the ConstitutionFederalism vs Anti-Federalism

                                        bullFederalists believed Favored ratification believed Constitution was

                                        strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                        bullAnti-Federalists believed Opposed ratification believed Constitution

                                        was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                        Activity

                                        bullEach of you will get a card it either has a termperson or a definition on it

                                        bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                        bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                        secret with your partner

                                        Picture Activity

                                        bullGallery Walk

                                        Constitutional Convention

                                        bullMet in Philadelphia in 1787

                                        bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                        bullThese men were collectively known as ldquoThe Framersrdquo

                                        Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                        Confederation bullDelegates quickly realized they were

                                        meeting to create a new government (with 3 branches)

                                        VA Plan v NJ Plan

                                        Several plans were proposed to correct the weaknesses of the Articles

                                        bullVirginia PlanbullNew Jersey Plan

                                        Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                        Virginia Plan ldquoLarge State Planrdquo

                                        bullStrong central govrsquotbullL Bicameral Congress

                                        Representation based on population

                                        bullE ldquoPresidentrdquo Chosen by Congress

                                        bullJ 1+ supreme courts with lower courtsChosen by Congress

                                        New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                        Each state would have = representationExpand power to tax amp regulate trade

                                        bullE Two-person presidencyChosen by Congress able to be removed

                                        bullJ Single Supreme CourtChosen by Executive

                                        Your Task

                                        Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                        them to choose your planUse catchy phrasesslogans and be sure to

                                        include the historical features of your plan (VA or NJ)

                                        At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                        Closure

                                        bullWhat do you think (or know) happens to these two plans

                                        States agreebull States agree to (ratify) the Constitution

                                        only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                        bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                        Quote

                                        bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                        bullWhat words stick to you in this quote Why

                                        Structure of Constitutionbull Provides basic

                                        framework for US government

                                        bull Outlines basic principles structure and processes

                                        bull Three partsmdashPreambleArticlesAmendments

                                        Structure of Constitution bull Preamble

                                        Introduction to the Constitution Lists ideas that the government should stand for

                                        and states purposes We the people of the United States in Order

                                        to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                        6 Purpose of Government bull Form a More Perfect Union

                                        bull Establish Justice bull Insure Domestic Tranquility

                                        bull Provide for the Common Defense

                                        bull Promote the General Welfare

                                        bull Secure the Blessings of Liberty

                                        For each phrase consider the followinghellip

                                        1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                        2 Is this phrase important today

                                        Structure of Constitution bullArticles

                                        Main body of the Constitution Lay out basic structure of the national

                                        governmentFurther broken down into sections and clauses

                                        Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                        Clause oaths of office

                                        Article VII Ratification

                                        Structure of Constitution

                                        bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                        Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                        bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                        Activity

                                        Activity bull STEP 1 bull Fill in the graphic

                                        organizer in your guided notes packet You have 8 minutes on your own to do this

                                        bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                        Principle Explanation

                                        Popular Sovereignty Idea that people are the source of all power held by the government

                                        Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                        Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                        Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                        Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                        Federalism Divides the power between the central government and the States

                                        Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                        Question 1

                                        bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                        Popular Sovereignty

                                        Question 2

                                        bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                        Limited Government

                                        Question 3

                                        bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                        Limited Government

                                        Question 4

                                        bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                        SEPARATION OF POWERS

                                        Question 5

                                        bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                        Checks and Balances

                                        Question 6

                                        bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                        CHECKS AND BALANCES

                                        Question 7

                                        bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                        JUDICIAL REVIEW

                                        Question 8

                                        bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                        Federalism

                                        GroupsPopular

                                        SovereigntySeparation of

                                        PowersFederalism

                                        bull bull bull

                                        Judicial Review

                                        Limited Government

                                        Checks and Balances

                                        bull bull bull

                                        Separation of Powers

                                        bull Legislative branchmdashmakes the laws

                                        bull Executive branchmdashenforces the laws

                                        bull Judicial branchmdashinterprets the law

                                        Video

                                        bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                        Checks and Balances

                                        Checks and balances

                                        bullIn what was do the branches check on one another

                                        bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                        Basic Principles

                                        bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                        Self- Worth

                                        bull A recognition of the fundamental worth of every person

                                        bull The democratic process reflects the collective set of individuals who make up society

                                        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                        Compromise

                                        bull A matter of compromise to determine the position most acceptable to the largest number of people

                                        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                        bullWhy is compromise important

                                        Individual Freedombull Right of the

                                        individual to be free as far as the freedom of all will allow

                                        bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                        Write your ownhellipbull Now that you know what the foundations of

                                        government arehellip Create your own Constitution (Or social contract)

                                        What do you think is important to include What do you think could be taken out

                                        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                        Preamble (brief introduction) Articles (what should it include based on what we

                                        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                        change it)

                                        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                        paper

                                        TED Talk

                                        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                        Closure

                                        bullExplain two principles of the constitution and how are they connected

                                        What is Economics

                                        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                        Important Parts of Economicsndash

                                        CHOICESSCARCITY

                                        Economics ishellip

                                        bullDependent upon assumptions

                                        bullDependent upon simplification of reality

                                        Back to our assumptionshellip

                                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                        bullAll sellers seek to maximize profits

                                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                        For the videohellip

                                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                        Post Videohellip

                                        bullDefine the main idea of the video in 4-5 words

                                        Advertisement

                                        bullKnowing some of the basics about what economics is and why we study ithellip

                                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                        3 images that represent different economic ideas

                                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                        1 slogan that represents why economics is an important course to take

                                        Political Cartoon Analysis

                                        Factors of Production bull LAND

                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                        soil minerals water and plants

                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                        into producing goodsservices

                                        bull CAPITAL Includes tools machines buildings and

                                        technologies

                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                        land labor and capital to produce goods and services

                                        TASK

                                        bullTask Why are entrepreneurs the driving force in our economy

                                        bullAnswer in 2-3 sentences

                                        The price ofhellip

                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                        Economic efficiency is achieved when all available resources are being used

                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                        1 What to produce

                                        bullShould it be military or civilian goods

                                        bullFood or clothingbullMedicine or movies

                                        2 How to produce it

                                        bullAutomated or manual labor

                                        bullExpensive or cheap materials

                                        bullDomestic or overseas labor

                                        3 For whom to produce it

                                        bullThe wealthy or the needybullThe sick or the healthy

                                        Application Activity

                                        bull In groups of 2-3 create your own country (name it please)

                                        bull With your countryrsquos name explain the Population geography and general population

                                        information (iehellipbull Choose 5 items for your country to produce and

                                        answer the three societal questions for eachALSO explain why this material would help your

                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                        withhellip Images representing what you produce and a

                                        slogan for why your country is awesome

                                        EQs

                                        bullHow does scarcity impact decision making

                                        Objectives amp Essential QuestionsbullObjectives

                                        I will be able to create and reflect on a budget given new economics content

                                        I will be able to understand scarcity and our mixed economy

                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                        Group Activity Budget Activity

                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                        How do we satisfy our economic wants

                                        bull We buy goods or services

                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                        bull Service ndash work done by someone else for which someone is willing to pay

                                        How do we make goods amp services

                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                        Production Equation

                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                        inputs output

                                        Economic Interdependence

                                        bullWhat does lsquointerdependencersquo mean

                                        bullIs our world becoming economic interdependent or independent

                                        bullEconomic Interdependence the actions of one part of the

                                        country (world) has an impact on what happens elsewhere

                                        Wants amp Needs gt

                                        Resources

                                        Because of scarcity we

                                        have to make choices

                                        How do we make a choice What do we give up

                                        What does this remind you of from our government unit

                                        Making Choices to Deal With Scarcity

                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                        decision over another

                                        ExampleshellipbullSome choices are easy to makehellip

                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                        school today or should I sleep in

                                        Task Reflecting on Personal Trade-offshellip

                                        In the end what helped you decide amongst your choices

                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                        tradeoffs for that decision

                                        Be prepared to share

                                        Opportunity Cost

                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                        Opportunity Cost ndash The best thing we give up to get what

                                        we want

                                        What else influences your choices

                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                        FinallyhellipWhy it Matters

                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                        better decision-maker

                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                        You always have to give something uphelliprdquo

                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                        decisions

                                        Visualizing the Relationshiphellip

                                        Limited Resources amp Unlimited Wants

                                        Scarcity

                                        Trade-offs (choices)

                                        Opportunity Costs

                                        ObjectivesEssential Questions

                                        bullObjectivebullI will be able to understand (and teach)

                                        the three different types of economies

                                        bullEssential Question How do the different types of economies work

                                        How Can We Measure What We Gain and Lose When

                                        Making Choices

                                        Answer With a Production Possibilities Frontier

                                        Production Possibilities Frontier

                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                        PPF Assumptions

                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                        Production Possibilities Curve

                                        CD

                                        E

                                        OU

                                        TP

                                        UT

                                        OF

                                        CO

                                        NS

                                        UM

                                        ER

                                        GO

                                        OD

                                        S

                                        (un

                                        its

                                        per

                                        yea

                                        r)

                                        OUTPUT OF MILITARY GOODS (units per year)

                                        A

                                        BO

                                        XF

                                        G

                                        Limited resources necessitate choices about WHAT to produce

                                        The Choices Nations Make

                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                        bullProduce military goods or consumer goods

                                        Economic Growth

                                        2000 production possibilities

                                        1900 production possibilities

                                        OU

                                        TP

                                        UT

                                        OF

                                        CO

                                        NS

                                        UM

                                        ER

                                        GO

                                        OD

                                        S(u

                                        nits

                                        per

                                        yea

                                        r)

                                        OUTPUT OF MILITARY GOODS (units per year)

                                        Production possibilities increases with more resources and technology

                                        The Classic Guns and Butter example

                                        Guns

                                        Butter

                                        10000 20000 30000 40000 50000

                                        1000009500085000

                                        70000

                                        5000040000

                                        BA

                                        C

                                        D

                                        E

                                        F

                                        At point A all resources are used for butter

                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                        At point F all resources are used for Guns

                                        Productivitybull A PPF can help us see how efficient our

                                        choices are

                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                        Locations on a PPF

                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                        Food

                                        Computer

                                        4

                                        3

                                        2

                                        1

                                        1 2 3 4

                                        OC between 1 and 2 computers = 1 Food

                                        UnitOC between 3 and 4 computers = 1 Food

                                        Unit

                                        Constantly giving up the same quantity of food to get

                                        additional computers

                                        STRAIGHT-LINE PPFs Constant OC

                                        BOWED-OUT PPFs VaryingIncreasing OC

                                        Principle of Increasing Costs

                                        As a society produces more of one product the OC of producing

                                        that product increases because we are using more resources that are poorly suited to produce it

                                        Economic Systems

                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                        How a society answers the three basic economic questions determines which type of economic system they are

                                        Three Types of Economic Systems Command Traditional Market

                                        Jigsaw activity

                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                        bullYou will have 7 minutes to read and come up with 4 key components

                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                        Economic amp Social Goals of an Economic System

                                        bull Economic Freedom

                                        bull Economic Efficiency

                                        bull Economic Equity

                                        bull Economic Security

                                        Economic Stability

                                        Economic Growth

                                        Review of Economic Systems

                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                        What are the most important goals of each economic system

                                        bullTraditionalSecurity and

                                        StabilitybullCommand

                                        Equity and Security

                                        bullMARKETEfficiency and

                                        Freedom

                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                        at the expense of another (TRADEOFFS)

                                        Which economic system does the US use

                                        The American Economic System

                                        bullWe have a mixed market economy

                                        COMMAND MARKET

                                        The US mixed economybull In a mixed economyhellip

                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                        Think backhellip

                                        bullWhat does this remind you of from the beginning of the unit

                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                        2 Limited government

                                        3 Equal opportunity

                                        4 Competition

                                        5 Profit motive

                                        6 Property Rights

                                        7 Binding Contracts

                                        Understanding how all parts fit together

                                        Circular Flow of Economic Activity Represents a market economy

                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                        Shows interdependence between

                                        businesses and individuals

                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                        bull Using what you have learned this unit and using the textbook

                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                        Do you remember

                                        bullWrite the following question downbullWhy does the United States have a

                                        democracy and mixed economy

                                        • Foundations of Government and Economics
                                        • On your blank piece of paperhellip
                                        • Slide 3
                                        • Warm-Up 1 - 9414
                                        • Introductory thoughts hellip
                                        • Slide 6
                                        • 2 How about to your life
                                        • Slide 8
                                        • Slide 9
                                        • Slide 10
                                        • Slide 11
                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                        • Warm up 2bndash In Journal-
                                        • Economist and Politician Assumptions
                                        • Individualism
                                        • Quote activity
                                        • Quote breakdown
                                        • Warm Up 3- Current Event 9814
                                        • Purpose of Government
                                        • Slide 20
                                        • 3 Theorists
                                        • Activity
                                        • Origins of American Government A customized government
                                        • Origins of American Government A customized government (2)
                                        • Origins of American Government A customized government (3)
                                        • With which theory do you agree more Why
                                        • The ldquoOriginal Dilemmardquo
                                        • Warm Up 5 Hobbes and Locke
                                        • Groups Block 2
                                        • Groups Block 4
                                        • Balloon Game
                                        • You will have 10 minutes to get as many filled balloons on the
                                        • Balloon Game Debriefing
                                        • Political Theories
                                        • Social Contract
                                        • Natural Rights
                                        • Democracy
                                        • Concepts of Government
                                        • Warm up 6 ndash 91114
                                        • Warm Up 7
                                        • And after the Constitution
                                        • Activity (2)
                                        • Picture Activity
                                        • Constitutional Convention
                                        • Purpose of the Convention
                                        • VA Plan v NJ Plan
                                        • Virginia Plan ldquoLarge State Planrdquo
                                        • New Jersey Plan ldquoSmall State Planrdquo
                                        • Your Task
                                        • Closure
                                        • States agree
                                        • Quote
                                        • Structure of Constitution
                                        • Structure of Constitution
                                        • 6 Purpose of Government
                                        • Structure of Constitution (2)
                                        • Structure of Constitution (3)
                                        • Principles of Constitution
                                        • Activity
                                        • Slide 60
                                        • Check for Understanding Six Principles
                                        • Question 1
                                        • Question 2
                                        • Question 3
                                        • Question 4
                                        • Question 5
                                        • Question 6
                                        • Question 7
                                        • Question 8
                                        • Groups
                                        • Separation of Powers
                                        • Video
                                        • Checks and Balances
                                        • Slide 74
                                        • Checks and balances
                                        • Basic Principles
                                        • Self- Worth
                                        • Equality
                                        • Compromise
                                        • Individual Freedom
                                        • Write your ownhellip
                                        • Slide 82
                                        • TED Talk
                                        • Closure
                                        • What is Economics
                                        • Economics ishellip
                                        • Back to our assumptionshellip
                                        • Scarcity refers to the limited number of resources (factors of
                                        • For the videohellip
                                        • Slide 90
                                        • Post Videohellip
                                        • Advertisement
                                        • Political Cartoon Analysis
                                        • Factors of Production
                                        • TASK
                                        • The price ofhellip
                                        • Economic efficiency is achieved when all available resources ar
                                        • 1 What to produce
                                        • 2 How to produce it
                                        • 3 For whom to produce it
                                        • Application Activity
                                        • EQs
                                        • Objectives amp Essential Questions
                                        • Group Activity Budget Activity
                                        • Slide 105
                                        • How do we satisfy our economic wants
                                        • How do we make goods amp services
                                        • Economic Interdependence
                                        • Slide 109
                                        • Making Choices to Deal With Scarcity
                                        • Exampleshellip
                                        • Task Reflecting on Personal Trade-offshellip
                                        • Opportunity Cost
                                        • What else influences your choices
                                        • Finallyhellip Why it Matters
                                        • Visualizing the Relationshiphellip
                                        • ObjectivesEssential Questions
                                        • How Can We Measure What We Gain and Lose When Making Choices
                                        • Production Possibilities Frontier
                                        • PPF Assumptions
                                        • Slide 121
                                        • Production Possibilities Curve
                                        • The Choices Nations Make
                                        • Economic Growth
                                        • The Classic Guns and Butter example
                                        • Productivity
                                        • Locations on a PPF
                                        • Slide 128
                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                        • Economic Systems
                                        • Jigsaw activity
                                        • Slide 132
                                        • Economic amp Social Goals of an Economic System
                                        • Review of Economic Systems
                                        • Slide 135
                                        • What are the most important goals of each economic system
                                        • Which economic system does the US use
                                        • The American Economic System
                                        • The US mixed economy
                                        • Slide 140
                                        • Think backhellip
                                        • US Economic System Characteristics
                                        • Slide 143
                                        • Understanding how all parts fit together
                                        • Marriage Vows
                                        • Do you remember
                                        • Slide 147

                                          ActivitybullWalk around the room to the quotes and ideas bullDecide which idea is a belief about a form of

                                          governmentbullDecide which idea is a belief about the natural

                                          state of manbullBased on these ideas decide which quote

                                          belongs to which theoristbullExplain the quote in your own words and how

                                          it relates to each personrsquos beliefs about government and the natural state of man

                                          Origins of American Government A customized government

                                          bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                                          Developed notion of social contract between rulers and their subjects

                                          Believed people were too selfish to govern themselves

                                          ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                                          Origins of American Government A customized government

                                          bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                                          Ideas helped lay foundations for democratic government

                                          Believed people formed governments to protect their rights and were innately good

                                          ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                                          Origins of American Government A customized government

                                          bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                                          Believed people were naturally good but corrupted and enslaved by society

                                          Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                                          ldquoForce does not create right obedience is due to only legitimate powersrdquo

                                          With which theory do you agree more Why

                                          John Locke Thomas Hobbes

                                          The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                          purpose of government Government needs to attain power from the

                                          people in order to perform any functions

                                          CLOSURE How much power is too much How much

                                          liberty should be given up hellip bullThis represented a debated trade offhellip

                                          Clash of order and freedom= Original Dilemma

                                          Warm Up 5 Hobbes and Locke

                                          Hobbes

                                          Locke

                                          Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                          Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                          Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                          Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                          Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                          Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                          Group 2JakeShawnKatieDrewWyattKatAshlyn

                                          Group 3JennaCeatonJeffLivSteveGarciaTom

                                          Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                          Balloon Game Objective

                                          To be the team with the most filled balloons taped into the square on the board Rules

                                          1 No running 2 No touching classmates hellip that does

                                          not mean you canrsquot touch their balloons hellip

                                          3 No removal of balloons once they are taped to the board

                                          You will have less than 5 minutes to come up with a strategy in your group

                                          You will have 10 minutes to get as many filled balloons on the square as possible

                                          End

                                          >

                                          Balloon Game Debriefing What type of behavior did you see during the

                                          game

                                          List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                          Why do you think you needed more ldquorulesrdquo during

                                          this game

                                          How does this relate to this class How does it relate to the theorists

                                          Political Theories

                                          Force Theory small group forced

                                          all to submit to person andor grouprsquos rule

                                          Evolutionary Theory developed naturally out of the

                                          evolution of the family

                                          Divine Right held that God created the state

                                          and God had given those of royal birth

                                          ldquodivine rightrdquo to rule

                                          Social Contract argues that state arose out of a

                                          voluntary act of free people State exists only

                                          to serve the will of the people

                                          Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                          power to a government to protect them and serve their interests

                                          bullFree to remove that power at any timebullGovernment can only create laws when it

                                          has the consent of the governedbullExamples

                                          Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                          cannot be taken away by any one (government)

                                          bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                          bull Idea of consent derived from social contract theory

                                          Democracybull A system of government in which in

                                          theory the people rule either directly or indirectly

                                          bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                          Concepts of Governmentbull Ordered governmentmdashneed for order

                                          bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                          bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                          Warm up 6 ndash 91114

                                          Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                          are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                          Warm Up 7

                                          bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                          And after the ConstitutionFederalism vs Anti-Federalism

                                          bullFederalists believed Favored ratification believed Constitution was

                                          strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                          bullAnti-Federalists believed Opposed ratification believed Constitution

                                          was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                          Activity

                                          bullEach of you will get a card it either has a termperson or a definition on it

                                          bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                          bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                          secret with your partner

                                          Picture Activity

                                          bullGallery Walk

                                          Constitutional Convention

                                          bullMet in Philadelphia in 1787

                                          bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                          bullThese men were collectively known as ldquoThe Framersrdquo

                                          Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                          Confederation bullDelegates quickly realized they were

                                          meeting to create a new government (with 3 branches)

                                          VA Plan v NJ Plan

                                          Several plans were proposed to correct the weaknesses of the Articles

                                          bullVirginia PlanbullNew Jersey Plan

                                          Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                          Virginia Plan ldquoLarge State Planrdquo

                                          bullStrong central govrsquotbullL Bicameral Congress

                                          Representation based on population

                                          bullE ldquoPresidentrdquo Chosen by Congress

                                          bullJ 1+ supreme courts with lower courtsChosen by Congress

                                          New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                          Each state would have = representationExpand power to tax amp regulate trade

                                          bullE Two-person presidencyChosen by Congress able to be removed

                                          bullJ Single Supreme CourtChosen by Executive

                                          Your Task

                                          Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                          them to choose your planUse catchy phrasesslogans and be sure to

                                          include the historical features of your plan (VA or NJ)

                                          At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                          Closure

                                          bullWhat do you think (or know) happens to these two plans

                                          States agreebull States agree to (ratify) the Constitution

                                          only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                          bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                          Quote

                                          bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                          bullWhat words stick to you in this quote Why

                                          Structure of Constitutionbull Provides basic

                                          framework for US government

                                          bull Outlines basic principles structure and processes

                                          bull Three partsmdashPreambleArticlesAmendments

                                          Structure of Constitution bull Preamble

                                          Introduction to the Constitution Lists ideas that the government should stand for

                                          and states purposes We the people of the United States in Order

                                          to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                          6 Purpose of Government bull Form a More Perfect Union

                                          bull Establish Justice bull Insure Domestic Tranquility

                                          bull Provide for the Common Defense

                                          bull Promote the General Welfare

                                          bull Secure the Blessings of Liberty

                                          For each phrase consider the followinghellip

                                          1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                          2 Is this phrase important today

                                          Structure of Constitution bullArticles

                                          Main body of the Constitution Lay out basic structure of the national

                                          governmentFurther broken down into sections and clauses

                                          Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                          Clause oaths of office

                                          Article VII Ratification

                                          Structure of Constitution

                                          bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                          Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                          bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                          Activity

                                          Activity bull STEP 1 bull Fill in the graphic

                                          organizer in your guided notes packet You have 8 minutes on your own to do this

                                          bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                          Principle Explanation

                                          Popular Sovereignty Idea that people are the source of all power held by the government

                                          Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                          Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                          Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                          Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                          Federalism Divides the power between the central government and the States

                                          Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                          Question 1

                                          bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                          Popular Sovereignty

                                          Question 2

                                          bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                          Limited Government

                                          Question 3

                                          bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                          Limited Government

                                          Question 4

                                          bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                          SEPARATION OF POWERS

                                          Question 5

                                          bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                          Checks and Balances

                                          Question 6

                                          bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                          CHECKS AND BALANCES

                                          Question 7

                                          bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                          JUDICIAL REVIEW

                                          Question 8

                                          bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                          Federalism

                                          GroupsPopular

                                          SovereigntySeparation of

                                          PowersFederalism

                                          bull bull bull

                                          Judicial Review

                                          Limited Government

                                          Checks and Balances

                                          bull bull bull

                                          Separation of Powers

                                          bull Legislative branchmdashmakes the laws

                                          bull Executive branchmdashenforces the laws

                                          bull Judicial branchmdashinterprets the law

                                          Video

                                          bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                          Checks and Balances

                                          Checks and balances

                                          bullIn what was do the branches check on one another

                                          bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                          Basic Principles

                                          bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                          Self- Worth

                                          bull A recognition of the fundamental worth of every person

                                          bull The democratic process reflects the collective set of individuals who make up society

                                          Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                          bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                          bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                          Compromise

                                          bull A matter of compromise to determine the position most acceptable to the largest number of people

                                          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                          bullWhy is compromise important

                                          Individual Freedombull Right of the

                                          individual to be free as far as the freedom of all will allow

                                          bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                          Write your ownhellipbull Now that you know what the foundations of

                                          government arehellip Create your own Constitution (Or social contract)

                                          What do you think is important to include What do you think could be taken out

                                          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                          Preamble (brief introduction) Articles (what should it include based on what we

                                          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                          change it)

                                          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                          paper

                                          TED Talk

                                          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                          Closure

                                          bullExplain two principles of the constitution and how are they connected

                                          What is Economics

                                          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                          Important Parts of Economicsndash

                                          CHOICESSCARCITY

                                          Economics ishellip

                                          bullDependent upon assumptions

                                          bullDependent upon simplification of reality

                                          Back to our assumptionshellip

                                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                          bullAll sellers seek to maximize profits

                                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                          For the videohellip

                                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                          Post Videohellip

                                          bullDefine the main idea of the video in 4-5 words

                                          Advertisement

                                          bullKnowing some of the basics about what economics is and why we study ithellip

                                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                          3 images that represent different economic ideas

                                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                          1 slogan that represents why economics is an important course to take

                                          Political Cartoon Analysis

                                          Factors of Production bull LAND

                                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                          soil minerals water and plants

                                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                                          into producing goodsservices

                                          bull CAPITAL Includes tools machines buildings and

                                          technologies

                                          bull ENTREPRENEUR Risk taker who is responsible for combining

                                          land labor and capital to produce goods and services

                                          TASK

                                          bullTask Why are entrepreneurs the driving force in our economy

                                          bullAnswer in 2-3 sentences

                                          The price ofhellip

                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                          Economic efficiency is achieved when all available resources are being used

                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                          1 What to produce

                                          bullShould it be military or civilian goods

                                          bullFood or clothingbullMedicine or movies

                                          2 How to produce it

                                          bullAutomated or manual labor

                                          bullExpensive or cheap materials

                                          bullDomestic or overseas labor

                                          3 For whom to produce it

                                          bullThe wealthy or the needybullThe sick or the healthy

                                          Application Activity

                                          bull In groups of 2-3 create your own country (name it please)

                                          bull With your countryrsquos name explain the Population geography and general population

                                          information (iehellipbull Choose 5 items for your country to produce and

                                          answer the three societal questions for eachALSO explain why this material would help your

                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                          withhellip Images representing what you produce and a

                                          slogan for why your country is awesome

                                          EQs

                                          bullHow does scarcity impact decision making

                                          Objectives amp Essential QuestionsbullObjectives

                                          I will be able to create and reflect on a budget given new economics content

                                          I will be able to understand scarcity and our mixed economy

                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                          Group Activity Budget Activity

                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                          How do we satisfy our economic wants

                                          bull We buy goods or services

                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                          bull Service ndash work done by someone else for which someone is willing to pay

                                          How do we make goods amp services

                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                          Production Equation

                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                          inputs output

                                          Economic Interdependence

                                          bullWhat does lsquointerdependencersquo mean

                                          bullIs our world becoming economic interdependent or independent

                                          bullEconomic Interdependence the actions of one part of the

                                          country (world) has an impact on what happens elsewhere

                                          Wants amp Needs gt

                                          Resources

                                          Because of scarcity we

                                          have to make choices

                                          How do we make a choice What do we give up

                                          What does this remind you of from our government unit

                                          Making Choices to Deal With Scarcity

                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                          decision over another

                                          ExampleshellipbullSome choices are easy to makehellip

                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                          school today or should I sleep in

                                          Task Reflecting on Personal Trade-offshellip

                                          In the end what helped you decide amongst your choices

                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                          tradeoffs for that decision

                                          Be prepared to share

                                          Opportunity Cost

                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                          Opportunity Cost ndash The best thing we give up to get what

                                          we want

                                          What else influences your choices

                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                          FinallyhellipWhy it Matters

                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                          better decision-maker

                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                          You always have to give something uphelliprdquo

                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                          decisions

                                          Visualizing the Relationshiphellip

                                          Limited Resources amp Unlimited Wants

                                          Scarcity

                                          Trade-offs (choices)

                                          Opportunity Costs

                                          ObjectivesEssential Questions

                                          bullObjectivebullI will be able to understand (and teach)

                                          the three different types of economies

                                          bullEssential Question How do the different types of economies work

                                          How Can We Measure What We Gain and Lose When

                                          Making Choices

                                          Answer With a Production Possibilities Frontier

                                          Production Possibilities Frontier

                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                          PPF Assumptions

                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                          Production Possibilities Curve

                                          CD

                                          E

                                          OU

                                          TP

                                          UT

                                          OF

                                          CO

                                          NS

                                          UM

                                          ER

                                          GO

                                          OD

                                          S

                                          (un

                                          its

                                          per

                                          yea

                                          r)

                                          OUTPUT OF MILITARY GOODS (units per year)

                                          A

                                          BO

                                          XF

                                          G

                                          Limited resources necessitate choices about WHAT to produce

                                          The Choices Nations Make

                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                          bullProduce military goods or consumer goods

                                          Economic Growth

                                          2000 production possibilities

                                          1900 production possibilities

                                          OU

                                          TP

                                          UT

                                          OF

                                          CO

                                          NS

                                          UM

                                          ER

                                          GO

                                          OD

                                          S(u

                                          nits

                                          per

                                          yea

                                          r)

                                          OUTPUT OF MILITARY GOODS (units per year)

                                          Production possibilities increases with more resources and technology

                                          The Classic Guns and Butter example

                                          Guns

                                          Butter

                                          10000 20000 30000 40000 50000

                                          1000009500085000

                                          70000

                                          5000040000

                                          BA

                                          C

                                          D

                                          E

                                          F

                                          At point A all resources are used for butter

                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                          At point F all resources are used for Guns

                                          Productivitybull A PPF can help us see how efficient our

                                          choices are

                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                          Locations on a PPF

                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                          Food

                                          Computer

                                          4

                                          3

                                          2

                                          1

                                          1 2 3 4

                                          OC between 1 and 2 computers = 1 Food

                                          UnitOC between 3 and 4 computers = 1 Food

                                          Unit

                                          Constantly giving up the same quantity of food to get

                                          additional computers

                                          STRAIGHT-LINE PPFs Constant OC

                                          BOWED-OUT PPFs VaryingIncreasing OC

                                          Principle of Increasing Costs

                                          As a society produces more of one product the OC of producing

                                          that product increases because we are using more resources that are poorly suited to produce it

                                          Economic Systems

                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                          How a society answers the three basic economic questions determines which type of economic system they are

                                          Three Types of Economic Systems Command Traditional Market

                                          Jigsaw activity

                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                          bullYou will have 7 minutes to read and come up with 4 key components

                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                          Economic amp Social Goals of an Economic System

                                          bull Economic Freedom

                                          bull Economic Efficiency

                                          bull Economic Equity

                                          bull Economic Security

                                          Economic Stability

                                          Economic Growth

                                          Review of Economic Systems

                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                          What are the most important goals of each economic system

                                          bullTraditionalSecurity and

                                          StabilitybullCommand

                                          Equity and Security

                                          bullMARKETEfficiency and

                                          Freedom

                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                          at the expense of another (TRADEOFFS)

                                          Which economic system does the US use

                                          The American Economic System

                                          bullWe have a mixed market economy

                                          COMMAND MARKET

                                          The US mixed economybull In a mixed economyhellip

                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                          Think backhellip

                                          bullWhat does this remind you of from the beginning of the unit

                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                          2 Limited government

                                          3 Equal opportunity

                                          4 Competition

                                          5 Profit motive

                                          6 Property Rights

                                          7 Binding Contracts

                                          Understanding how all parts fit together

                                          Circular Flow of Economic Activity Represents a market economy

                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                          Shows interdependence between

                                          businesses and individuals

                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                          bull Using what you have learned this unit and using the textbook

                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                          Do you remember

                                          bullWrite the following question downbullWhy does the United States have a

                                          democracy and mixed economy

                                          • Foundations of Government and Economics
                                          • On your blank piece of paperhellip
                                          • Slide 3
                                          • Warm-Up 1 - 9414
                                          • Introductory thoughts hellip
                                          • Slide 6
                                          • 2 How about to your life
                                          • Slide 8
                                          • Slide 9
                                          • Slide 10
                                          • Slide 11
                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                          • Warm up 2bndash In Journal-
                                          • Economist and Politician Assumptions
                                          • Individualism
                                          • Quote activity
                                          • Quote breakdown
                                          • Warm Up 3- Current Event 9814
                                          • Purpose of Government
                                          • Slide 20
                                          • 3 Theorists
                                          • Activity
                                          • Origins of American Government A customized government
                                          • Origins of American Government A customized government (2)
                                          • Origins of American Government A customized government (3)
                                          • With which theory do you agree more Why
                                          • The ldquoOriginal Dilemmardquo
                                          • Warm Up 5 Hobbes and Locke
                                          • Groups Block 2
                                          • Groups Block 4
                                          • Balloon Game
                                          • You will have 10 minutes to get as many filled balloons on the
                                          • Balloon Game Debriefing
                                          • Political Theories
                                          • Social Contract
                                          • Natural Rights
                                          • Democracy
                                          • Concepts of Government
                                          • Warm up 6 ndash 91114
                                          • Warm Up 7
                                          • And after the Constitution
                                          • Activity (2)
                                          • Picture Activity
                                          • Constitutional Convention
                                          • Purpose of the Convention
                                          • VA Plan v NJ Plan
                                          • Virginia Plan ldquoLarge State Planrdquo
                                          • New Jersey Plan ldquoSmall State Planrdquo
                                          • Your Task
                                          • Closure
                                          • States agree
                                          • Quote
                                          • Structure of Constitution
                                          • Structure of Constitution
                                          • 6 Purpose of Government
                                          • Structure of Constitution (2)
                                          • Structure of Constitution (3)
                                          • Principles of Constitution
                                          • Activity
                                          • Slide 60
                                          • Check for Understanding Six Principles
                                          • Question 1
                                          • Question 2
                                          • Question 3
                                          • Question 4
                                          • Question 5
                                          • Question 6
                                          • Question 7
                                          • Question 8
                                          • Groups
                                          • Separation of Powers
                                          • Video
                                          • Checks and Balances
                                          • Slide 74
                                          • Checks and balances
                                          • Basic Principles
                                          • Self- Worth
                                          • Equality
                                          • Compromise
                                          • Individual Freedom
                                          • Write your ownhellip
                                          • Slide 82
                                          • TED Talk
                                          • Closure
                                          • What is Economics
                                          • Economics ishellip
                                          • Back to our assumptionshellip
                                          • Scarcity refers to the limited number of resources (factors of
                                          • For the videohellip
                                          • Slide 90
                                          • Post Videohellip
                                          • Advertisement
                                          • Political Cartoon Analysis
                                          • Factors of Production
                                          • TASK
                                          • The price ofhellip
                                          • Economic efficiency is achieved when all available resources ar
                                          • 1 What to produce
                                          • 2 How to produce it
                                          • 3 For whom to produce it
                                          • Application Activity
                                          • EQs
                                          • Objectives amp Essential Questions
                                          • Group Activity Budget Activity
                                          • Slide 105
                                          • How do we satisfy our economic wants
                                          • How do we make goods amp services
                                          • Economic Interdependence
                                          • Slide 109
                                          • Making Choices to Deal With Scarcity
                                          • Exampleshellip
                                          • Task Reflecting on Personal Trade-offshellip
                                          • Opportunity Cost
                                          • What else influences your choices
                                          • Finallyhellip Why it Matters
                                          • Visualizing the Relationshiphellip
                                          • ObjectivesEssential Questions
                                          • How Can We Measure What We Gain and Lose When Making Choices
                                          • Production Possibilities Frontier
                                          • PPF Assumptions
                                          • Slide 121
                                          • Production Possibilities Curve
                                          • The Choices Nations Make
                                          • Economic Growth
                                          • The Classic Guns and Butter example
                                          • Productivity
                                          • Locations on a PPF
                                          • Slide 128
                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                          • Economic Systems
                                          • Jigsaw activity
                                          • Slide 132
                                          • Economic amp Social Goals of an Economic System
                                          • Review of Economic Systems
                                          • Slide 135
                                          • What are the most important goals of each economic system
                                          • Which economic system does the US use
                                          • The American Economic System
                                          • The US mixed economy
                                          • Slide 140
                                          • Think backhellip
                                          • US Economic System Characteristics
                                          • Slide 143
                                          • Understanding how all parts fit together
                                          • Marriage Vows
                                          • Do you remember
                                          • Slide 147

                                            Origins of American Government A customized government

                                            bullEnglish Enlightenment Thinkersrsquo Contributions Thomas Hobbes

                                            Developed notion of social contract between rulers and their subjects

                                            Believed people were too selfish to govern themselves

                                            ldquoAll mankind [has] a perpetual and restless desire of powerhellipthat ceaseth only in deathrdquo

                                            Origins of American Government A customized government

                                            bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                                            Ideas helped lay foundations for democratic government

                                            Believed people formed governments to protect their rights and were innately good

                                            ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                                            Origins of American Government A customized government

                                            bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                                            Believed people were naturally good but corrupted and enslaved by society

                                            Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                                            ldquoForce does not create right obedience is due to only legitimate powersrdquo

                                            With which theory do you agree more Why

                                            John Locke Thomas Hobbes

                                            The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                            purpose of government Government needs to attain power from the

                                            people in order to perform any functions

                                            CLOSURE How much power is too much How much

                                            liberty should be given up hellip bullThis represented a debated trade offhellip

                                            Clash of order and freedom= Original Dilemma

                                            Warm Up 5 Hobbes and Locke

                                            Hobbes

                                            Locke

                                            Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                            Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                            Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                            Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                            Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                            Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                            Group 2JakeShawnKatieDrewWyattKatAshlyn

                                            Group 3JennaCeatonJeffLivSteveGarciaTom

                                            Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                            Balloon Game Objective

                                            To be the team with the most filled balloons taped into the square on the board Rules

                                            1 No running 2 No touching classmates hellip that does

                                            not mean you canrsquot touch their balloons hellip

                                            3 No removal of balloons once they are taped to the board

                                            You will have less than 5 minutes to come up with a strategy in your group

                                            You will have 10 minutes to get as many filled balloons on the square as possible

                                            End

                                            >

                                            Balloon Game Debriefing What type of behavior did you see during the

                                            game

                                            List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                            Why do you think you needed more ldquorulesrdquo during

                                            this game

                                            How does this relate to this class How does it relate to the theorists

                                            Political Theories

                                            Force Theory small group forced

                                            all to submit to person andor grouprsquos rule

                                            Evolutionary Theory developed naturally out of the

                                            evolution of the family

                                            Divine Right held that God created the state

                                            and God had given those of royal birth

                                            ldquodivine rightrdquo to rule

                                            Social Contract argues that state arose out of a

                                            voluntary act of free people State exists only

                                            to serve the will of the people

                                            Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                            power to a government to protect them and serve their interests

                                            bullFree to remove that power at any timebullGovernment can only create laws when it

                                            has the consent of the governedbullExamples

                                            Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                            cannot be taken away by any one (government)

                                            bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                            bull Idea of consent derived from social contract theory

                                            Democracybull A system of government in which in

                                            theory the people rule either directly or indirectly

                                            bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                            Concepts of Governmentbull Ordered governmentmdashneed for order

                                            bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                            bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                            Warm up 6 ndash 91114

                                            Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                            are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                            Warm Up 7

                                            bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                            And after the ConstitutionFederalism vs Anti-Federalism

                                            bullFederalists believed Favored ratification believed Constitution was

                                            strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                            bullAnti-Federalists believed Opposed ratification believed Constitution

                                            was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                            Activity

                                            bullEach of you will get a card it either has a termperson or a definition on it

                                            bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                            bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                            secret with your partner

                                            Picture Activity

                                            bullGallery Walk

                                            Constitutional Convention

                                            bullMet in Philadelphia in 1787

                                            bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                            bullThese men were collectively known as ldquoThe Framersrdquo

                                            Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                            Confederation bullDelegates quickly realized they were

                                            meeting to create a new government (with 3 branches)

                                            VA Plan v NJ Plan

                                            Several plans were proposed to correct the weaknesses of the Articles

                                            bullVirginia PlanbullNew Jersey Plan

                                            Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                            Virginia Plan ldquoLarge State Planrdquo

                                            bullStrong central govrsquotbullL Bicameral Congress

                                            Representation based on population

                                            bullE ldquoPresidentrdquo Chosen by Congress

                                            bullJ 1+ supreme courts with lower courtsChosen by Congress

                                            New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                            Each state would have = representationExpand power to tax amp regulate trade

                                            bullE Two-person presidencyChosen by Congress able to be removed

                                            bullJ Single Supreme CourtChosen by Executive

                                            Your Task

                                            Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                            them to choose your planUse catchy phrasesslogans and be sure to

                                            include the historical features of your plan (VA or NJ)

                                            At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                            Closure

                                            bullWhat do you think (or know) happens to these two plans

                                            States agreebull States agree to (ratify) the Constitution

                                            only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                            bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                            Quote

                                            bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                            bullWhat words stick to you in this quote Why

                                            Structure of Constitutionbull Provides basic

                                            framework for US government

                                            bull Outlines basic principles structure and processes

                                            bull Three partsmdashPreambleArticlesAmendments

                                            Structure of Constitution bull Preamble

                                            Introduction to the Constitution Lists ideas that the government should stand for

                                            and states purposes We the people of the United States in Order

                                            to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                            6 Purpose of Government bull Form a More Perfect Union

                                            bull Establish Justice bull Insure Domestic Tranquility

                                            bull Provide for the Common Defense

                                            bull Promote the General Welfare

                                            bull Secure the Blessings of Liberty

                                            For each phrase consider the followinghellip

                                            1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                            2 Is this phrase important today

                                            Structure of Constitution bullArticles

                                            Main body of the Constitution Lay out basic structure of the national

                                            governmentFurther broken down into sections and clauses

                                            Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                            Clause oaths of office

                                            Article VII Ratification

                                            Structure of Constitution

                                            bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                            Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                            bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                            Activity

                                            Activity bull STEP 1 bull Fill in the graphic

                                            organizer in your guided notes packet You have 8 minutes on your own to do this

                                            bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                            Principle Explanation

                                            Popular Sovereignty Idea that people are the source of all power held by the government

                                            Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                            Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                            Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                            Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                            Federalism Divides the power between the central government and the States

                                            Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                            Question 1

                                            bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                            Popular Sovereignty

                                            Question 2

                                            bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                            Limited Government

                                            Question 3

                                            bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                            Limited Government

                                            Question 4

                                            bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                            SEPARATION OF POWERS

                                            Question 5

                                            bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                            Checks and Balances

                                            Question 6

                                            bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                            CHECKS AND BALANCES

                                            Question 7

                                            bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                            JUDICIAL REVIEW

                                            Question 8

                                            bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                            Federalism

                                            GroupsPopular

                                            SovereigntySeparation of

                                            PowersFederalism

                                            bull bull bull

                                            Judicial Review

                                            Limited Government

                                            Checks and Balances

                                            bull bull bull

                                            Separation of Powers

                                            bull Legislative branchmdashmakes the laws

                                            bull Executive branchmdashenforces the laws

                                            bull Judicial branchmdashinterprets the law

                                            Video

                                            bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                            Checks and Balances

                                            Checks and balances

                                            bullIn what was do the branches check on one another

                                            bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                            Basic Principles

                                            bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                            Self- Worth

                                            bull A recognition of the fundamental worth of every person

                                            bull The democratic process reflects the collective set of individuals who make up society

                                            Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                            bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                            bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                            Compromise

                                            bull A matter of compromise to determine the position most acceptable to the largest number of people

                                            bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                            bullWhy is compromise important

                                            Individual Freedombull Right of the

                                            individual to be free as far as the freedom of all will allow

                                            bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                            Write your ownhellipbull Now that you know what the foundations of

                                            government arehellip Create your own Constitution (Or social contract)

                                            What do you think is important to include What do you think could be taken out

                                            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                            Preamble (brief introduction) Articles (what should it include based on what we

                                            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                            change it)

                                            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                            paper

                                            TED Talk

                                            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                            Closure

                                            bullExplain two principles of the constitution and how are they connected

                                            What is Economics

                                            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                            Important Parts of Economicsndash

                                            CHOICESSCARCITY

                                            Economics ishellip

                                            bullDependent upon assumptions

                                            bullDependent upon simplification of reality

                                            Back to our assumptionshellip

                                            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                            bullAll sellers seek to maximize profits

                                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                            For the videohellip

                                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                            Post Videohellip

                                            bullDefine the main idea of the video in 4-5 words

                                            Advertisement

                                            bullKnowing some of the basics about what economics is and why we study ithellip

                                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                            3 images that represent different economic ideas

                                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                            1 slogan that represents why economics is an important course to take

                                            Political Cartoon Analysis

                                            Factors of Production bull LAND

                                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                            soil minerals water and plants

                                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                                            into producing goodsservices

                                            bull CAPITAL Includes tools machines buildings and

                                            technologies

                                            bull ENTREPRENEUR Risk taker who is responsible for combining

                                            land labor and capital to produce goods and services

                                            TASK

                                            bullTask Why are entrepreneurs the driving force in our economy

                                            bullAnswer in 2-3 sentences

                                            The price ofhellip

                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                            Economic efficiency is achieved when all available resources are being used

                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                            1 What to produce

                                            bullShould it be military or civilian goods

                                            bullFood or clothingbullMedicine or movies

                                            2 How to produce it

                                            bullAutomated or manual labor

                                            bullExpensive or cheap materials

                                            bullDomestic or overseas labor

                                            3 For whom to produce it

                                            bullThe wealthy or the needybullThe sick or the healthy

                                            Application Activity

                                            bull In groups of 2-3 create your own country (name it please)

                                            bull With your countryrsquos name explain the Population geography and general population

                                            information (iehellipbull Choose 5 items for your country to produce and

                                            answer the three societal questions for eachALSO explain why this material would help your

                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                            withhellip Images representing what you produce and a

                                            slogan for why your country is awesome

                                            EQs

                                            bullHow does scarcity impact decision making

                                            Objectives amp Essential QuestionsbullObjectives

                                            I will be able to create and reflect on a budget given new economics content

                                            I will be able to understand scarcity and our mixed economy

                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                            Group Activity Budget Activity

                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                            How do we satisfy our economic wants

                                            bull We buy goods or services

                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                            bull Service ndash work done by someone else for which someone is willing to pay

                                            How do we make goods amp services

                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                            Production Equation

                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                            inputs output

                                            Economic Interdependence

                                            bullWhat does lsquointerdependencersquo mean

                                            bullIs our world becoming economic interdependent or independent

                                            bullEconomic Interdependence the actions of one part of the

                                            country (world) has an impact on what happens elsewhere

                                            Wants amp Needs gt

                                            Resources

                                            Because of scarcity we

                                            have to make choices

                                            How do we make a choice What do we give up

                                            What does this remind you of from our government unit

                                            Making Choices to Deal With Scarcity

                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                            decision over another

                                            ExampleshellipbullSome choices are easy to makehellip

                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                            school today or should I sleep in

                                            Task Reflecting on Personal Trade-offshellip

                                            In the end what helped you decide amongst your choices

                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                            tradeoffs for that decision

                                            Be prepared to share

                                            Opportunity Cost

                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                            Opportunity Cost ndash The best thing we give up to get what

                                            we want

                                            What else influences your choices

                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                            FinallyhellipWhy it Matters

                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                            better decision-maker

                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                            You always have to give something uphelliprdquo

                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                            decisions

                                            Visualizing the Relationshiphellip

                                            Limited Resources amp Unlimited Wants

                                            Scarcity

                                            Trade-offs (choices)

                                            Opportunity Costs

                                            ObjectivesEssential Questions

                                            bullObjectivebullI will be able to understand (and teach)

                                            the three different types of economies

                                            bullEssential Question How do the different types of economies work

                                            How Can We Measure What We Gain and Lose When

                                            Making Choices

                                            Answer With a Production Possibilities Frontier

                                            Production Possibilities Frontier

                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                            PPF Assumptions

                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                            Production Possibilities Curve

                                            CD

                                            E

                                            OU

                                            TP

                                            UT

                                            OF

                                            CO

                                            NS

                                            UM

                                            ER

                                            GO

                                            OD

                                            S

                                            (un

                                            its

                                            per

                                            yea

                                            r)

                                            OUTPUT OF MILITARY GOODS (units per year)

                                            A

                                            BO

                                            XF

                                            G

                                            Limited resources necessitate choices about WHAT to produce

                                            The Choices Nations Make

                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                            bullProduce military goods or consumer goods

                                            Economic Growth

                                            2000 production possibilities

                                            1900 production possibilities

                                            OU

                                            TP

                                            UT

                                            OF

                                            CO

                                            NS

                                            UM

                                            ER

                                            GO

                                            OD

                                            S(u

                                            nits

                                            per

                                            yea

                                            r)

                                            OUTPUT OF MILITARY GOODS (units per year)

                                            Production possibilities increases with more resources and technology

                                            The Classic Guns and Butter example

                                            Guns

                                            Butter

                                            10000 20000 30000 40000 50000

                                            1000009500085000

                                            70000

                                            5000040000

                                            BA

                                            C

                                            D

                                            E

                                            F

                                            At point A all resources are used for butter

                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                            At point F all resources are used for Guns

                                            Productivitybull A PPF can help us see how efficient our

                                            choices are

                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                            Locations on a PPF

                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                            Food

                                            Computer

                                            4

                                            3

                                            2

                                            1

                                            1 2 3 4

                                            OC between 1 and 2 computers = 1 Food

                                            UnitOC between 3 and 4 computers = 1 Food

                                            Unit

                                            Constantly giving up the same quantity of food to get

                                            additional computers

                                            STRAIGHT-LINE PPFs Constant OC

                                            BOWED-OUT PPFs VaryingIncreasing OC

                                            Principle of Increasing Costs

                                            As a society produces more of one product the OC of producing

                                            that product increases because we are using more resources that are poorly suited to produce it

                                            Economic Systems

                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                            How a society answers the three basic economic questions determines which type of economic system they are

                                            Three Types of Economic Systems Command Traditional Market

                                            Jigsaw activity

                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                            bullYou will have 7 minutes to read and come up with 4 key components

                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                            Economic amp Social Goals of an Economic System

                                            bull Economic Freedom

                                            bull Economic Efficiency

                                            bull Economic Equity

                                            bull Economic Security

                                            Economic Stability

                                            Economic Growth

                                            Review of Economic Systems

                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                            What are the most important goals of each economic system

                                            bullTraditionalSecurity and

                                            StabilitybullCommand

                                            Equity and Security

                                            bullMARKETEfficiency and

                                            Freedom

                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                            at the expense of another (TRADEOFFS)

                                            Which economic system does the US use

                                            The American Economic System

                                            bullWe have a mixed market economy

                                            COMMAND MARKET

                                            The US mixed economybull In a mixed economyhellip

                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                            Think backhellip

                                            bullWhat does this remind you of from the beginning of the unit

                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                            2 Limited government

                                            3 Equal opportunity

                                            4 Competition

                                            5 Profit motive

                                            6 Property Rights

                                            7 Binding Contracts

                                            Understanding how all parts fit together

                                            Circular Flow of Economic Activity Represents a market economy

                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                            Shows interdependence between

                                            businesses and individuals

                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                            bull Using what you have learned this unit and using the textbook

                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                            Do you remember

                                            bullWrite the following question downbullWhy does the United States have a

                                            democracy and mixed economy

                                            • Foundations of Government and Economics
                                            • On your blank piece of paperhellip
                                            • Slide 3
                                            • Warm-Up 1 - 9414
                                            • Introductory thoughts hellip
                                            • Slide 6
                                            • 2 How about to your life
                                            • Slide 8
                                            • Slide 9
                                            • Slide 10
                                            • Slide 11
                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                            • Warm up 2bndash In Journal-
                                            • Economist and Politician Assumptions
                                            • Individualism
                                            • Quote activity
                                            • Quote breakdown
                                            • Warm Up 3- Current Event 9814
                                            • Purpose of Government
                                            • Slide 20
                                            • 3 Theorists
                                            • Activity
                                            • Origins of American Government A customized government
                                            • Origins of American Government A customized government (2)
                                            • Origins of American Government A customized government (3)
                                            • With which theory do you agree more Why
                                            • The ldquoOriginal Dilemmardquo
                                            • Warm Up 5 Hobbes and Locke
                                            • Groups Block 2
                                            • Groups Block 4
                                            • Balloon Game
                                            • You will have 10 minutes to get as many filled balloons on the
                                            • Balloon Game Debriefing
                                            • Political Theories
                                            • Social Contract
                                            • Natural Rights
                                            • Democracy
                                            • Concepts of Government
                                            • Warm up 6 ndash 91114
                                            • Warm Up 7
                                            • And after the Constitution
                                            • Activity (2)
                                            • Picture Activity
                                            • Constitutional Convention
                                            • Purpose of the Convention
                                            • VA Plan v NJ Plan
                                            • Virginia Plan ldquoLarge State Planrdquo
                                            • New Jersey Plan ldquoSmall State Planrdquo
                                            • Your Task
                                            • Closure
                                            • States agree
                                            • Quote
                                            • Structure of Constitution
                                            • Structure of Constitution
                                            • 6 Purpose of Government
                                            • Structure of Constitution (2)
                                            • Structure of Constitution (3)
                                            • Principles of Constitution
                                            • Activity
                                            • Slide 60
                                            • Check for Understanding Six Principles
                                            • Question 1
                                            • Question 2
                                            • Question 3
                                            • Question 4
                                            • Question 5
                                            • Question 6
                                            • Question 7
                                            • Question 8
                                            • Groups
                                            • Separation of Powers
                                            • Video
                                            • Checks and Balances
                                            • Slide 74
                                            • Checks and balances
                                            • Basic Principles
                                            • Self- Worth
                                            • Equality
                                            • Compromise
                                            • Individual Freedom
                                            • Write your ownhellip
                                            • Slide 82
                                            • TED Talk
                                            • Closure
                                            • What is Economics
                                            • Economics ishellip
                                            • Back to our assumptionshellip
                                            • Scarcity refers to the limited number of resources (factors of
                                            • For the videohellip
                                            • Slide 90
                                            • Post Videohellip
                                            • Advertisement
                                            • Political Cartoon Analysis
                                            • Factors of Production
                                            • TASK
                                            • The price ofhellip
                                            • Economic efficiency is achieved when all available resources ar
                                            • 1 What to produce
                                            • 2 How to produce it
                                            • 3 For whom to produce it
                                            • Application Activity
                                            • EQs
                                            • Objectives amp Essential Questions
                                            • Group Activity Budget Activity
                                            • Slide 105
                                            • How do we satisfy our economic wants
                                            • How do we make goods amp services
                                            • Economic Interdependence
                                            • Slide 109
                                            • Making Choices to Deal With Scarcity
                                            • Exampleshellip
                                            • Task Reflecting on Personal Trade-offshellip
                                            • Opportunity Cost
                                            • What else influences your choices
                                            • Finallyhellip Why it Matters
                                            • Visualizing the Relationshiphellip
                                            • ObjectivesEssential Questions
                                            • How Can We Measure What We Gain and Lose When Making Choices
                                            • Production Possibilities Frontier
                                            • PPF Assumptions
                                            • Slide 121
                                            • Production Possibilities Curve
                                            • The Choices Nations Make
                                            • Economic Growth
                                            • The Classic Guns and Butter example
                                            • Productivity
                                            • Locations on a PPF
                                            • Slide 128
                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                            • Economic Systems
                                            • Jigsaw activity
                                            • Slide 132
                                            • Economic amp Social Goals of an Economic System
                                            • Review of Economic Systems
                                            • Slide 135
                                            • What are the most important goals of each economic system
                                            • Which economic system does the US use
                                            • The American Economic System
                                            • The US mixed economy
                                            • Slide 140
                                            • Think backhellip
                                            • US Economic System Characteristics
                                            • Slide 143
                                            • Understanding how all parts fit together
                                            • Marriage Vows
                                            • Do you remember
                                            • Slide 147

                                              Origins of American Government A customized government

                                              bullEnglish Enlightenment Thinkersrsquo ContributionsJohn Locke

                                              Ideas helped lay foundations for democratic government

                                              Believed people formed governments to protect their rights and were innately good

                                              ldquoThe end [purpose] of law is not to abolish or restrain but to preserve and enlarge freedomrdquo

                                              Origins of American Government A customized government

                                              bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                                              Believed people were naturally good but corrupted and enslaved by society

                                              Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                                              ldquoForce does not create right obedience is due to only legitimate powersrdquo

                                              With which theory do you agree more Why

                                              John Locke Thomas Hobbes

                                              The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                              purpose of government Government needs to attain power from the

                                              people in order to perform any functions

                                              CLOSURE How much power is too much How much

                                              liberty should be given up hellip bullThis represented a debated trade offhellip

                                              Clash of order and freedom= Original Dilemma

                                              Warm Up 5 Hobbes and Locke

                                              Hobbes

                                              Locke

                                              Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                              Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                              Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                              Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                              Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                              Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                              Group 2JakeShawnKatieDrewWyattKatAshlyn

                                              Group 3JennaCeatonJeffLivSteveGarciaTom

                                              Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                              Balloon Game Objective

                                              To be the team with the most filled balloons taped into the square on the board Rules

                                              1 No running 2 No touching classmates hellip that does

                                              not mean you canrsquot touch their balloons hellip

                                              3 No removal of balloons once they are taped to the board

                                              You will have less than 5 minutes to come up with a strategy in your group

                                              You will have 10 minutes to get as many filled balloons on the square as possible

                                              End

                                              >

                                              Balloon Game Debriefing What type of behavior did you see during the

                                              game

                                              List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                              Why do you think you needed more ldquorulesrdquo during

                                              this game

                                              How does this relate to this class How does it relate to the theorists

                                              Political Theories

                                              Force Theory small group forced

                                              all to submit to person andor grouprsquos rule

                                              Evolutionary Theory developed naturally out of the

                                              evolution of the family

                                              Divine Right held that God created the state

                                              and God had given those of royal birth

                                              ldquodivine rightrdquo to rule

                                              Social Contract argues that state arose out of a

                                              voluntary act of free people State exists only

                                              to serve the will of the people

                                              Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                              power to a government to protect them and serve their interests

                                              bullFree to remove that power at any timebullGovernment can only create laws when it

                                              has the consent of the governedbullExamples

                                              Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                              cannot be taken away by any one (government)

                                              bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                              bull Idea of consent derived from social contract theory

                                              Democracybull A system of government in which in

                                              theory the people rule either directly or indirectly

                                              bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                              Concepts of Governmentbull Ordered governmentmdashneed for order

                                              bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                              bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                              Warm up 6 ndash 91114

                                              Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                              are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                              Warm Up 7

                                              bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                              And after the ConstitutionFederalism vs Anti-Federalism

                                              bullFederalists believed Favored ratification believed Constitution was

                                              strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                              bullAnti-Federalists believed Opposed ratification believed Constitution

                                              was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                              Activity

                                              bullEach of you will get a card it either has a termperson or a definition on it

                                              bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                              bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                              secret with your partner

                                              Picture Activity

                                              bullGallery Walk

                                              Constitutional Convention

                                              bullMet in Philadelphia in 1787

                                              bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                              bullThese men were collectively known as ldquoThe Framersrdquo

                                              Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                              Confederation bullDelegates quickly realized they were

                                              meeting to create a new government (with 3 branches)

                                              VA Plan v NJ Plan

                                              Several plans were proposed to correct the weaknesses of the Articles

                                              bullVirginia PlanbullNew Jersey Plan

                                              Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                              Virginia Plan ldquoLarge State Planrdquo

                                              bullStrong central govrsquotbullL Bicameral Congress

                                              Representation based on population

                                              bullE ldquoPresidentrdquo Chosen by Congress

                                              bullJ 1+ supreme courts with lower courtsChosen by Congress

                                              New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                              Each state would have = representationExpand power to tax amp regulate trade

                                              bullE Two-person presidencyChosen by Congress able to be removed

                                              bullJ Single Supreme CourtChosen by Executive

                                              Your Task

                                              Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                              them to choose your planUse catchy phrasesslogans and be sure to

                                              include the historical features of your plan (VA or NJ)

                                              At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                              Closure

                                              bullWhat do you think (or know) happens to these two plans

                                              States agreebull States agree to (ratify) the Constitution

                                              only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                              bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                              Quote

                                              bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                              bullWhat words stick to you in this quote Why

                                              Structure of Constitutionbull Provides basic

                                              framework for US government

                                              bull Outlines basic principles structure and processes

                                              bull Three partsmdashPreambleArticlesAmendments

                                              Structure of Constitution bull Preamble

                                              Introduction to the Constitution Lists ideas that the government should stand for

                                              and states purposes We the people of the United States in Order

                                              to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                              6 Purpose of Government bull Form a More Perfect Union

                                              bull Establish Justice bull Insure Domestic Tranquility

                                              bull Provide for the Common Defense

                                              bull Promote the General Welfare

                                              bull Secure the Blessings of Liberty

                                              For each phrase consider the followinghellip

                                              1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                              2 Is this phrase important today

                                              Structure of Constitution bullArticles

                                              Main body of the Constitution Lay out basic structure of the national

                                              governmentFurther broken down into sections and clauses

                                              Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                              Clause oaths of office

                                              Article VII Ratification

                                              Structure of Constitution

                                              bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                              Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                              bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                              Activity

                                              Activity bull STEP 1 bull Fill in the graphic

                                              organizer in your guided notes packet You have 8 minutes on your own to do this

                                              bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                              Principle Explanation

                                              Popular Sovereignty Idea that people are the source of all power held by the government

                                              Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                              Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                              Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                              Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                              Federalism Divides the power between the central government and the States

                                              Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                              Question 1

                                              bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                              Popular Sovereignty

                                              Question 2

                                              bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                              Limited Government

                                              Question 3

                                              bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                              Limited Government

                                              Question 4

                                              bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                              SEPARATION OF POWERS

                                              Question 5

                                              bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                              Checks and Balances

                                              Question 6

                                              bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                              CHECKS AND BALANCES

                                              Question 7

                                              bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                              JUDICIAL REVIEW

                                              Question 8

                                              bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                              Federalism

                                              GroupsPopular

                                              SovereigntySeparation of

                                              PowersFederalism

                                              bull bull bull

                                              Judicial Review

                                              Limited Government

                                              Checks and Balances

                                              bull bull bull

                                              Separation of Powers

                                              bull Legislative branchmdashmakes the laws

                                              bull Executive branchmdashenforces the laws

                                              bull Judicial branchmdashinterprets the law

                                              Video

                                              bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                              Checks and Balances

                                              Checks and balances

                                              bullIn what was do the branches check on one another

                                              bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                              Basic Principles

                                              bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                              Self- Worth

                                              bull A recognition of the fundamental worth of every person

                                              bull The democratic process reflects the collective set of individuals who make up society

                                              Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                              bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                              bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                              Compromise

                                              bull A matter of compromise to determine the position most acceptable to the largest number of people

                                              bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                              bullWhy is compromise important

                                              Individual Freedombull Right of the

                                              individual to be free as far as the freedom of all will allow

                                              bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                              Write your ownhellipbull Now that you know what the foundations of

                                              government arehellip Create your own Constitution (Or social contract)

                                              What do you think is important to include What do you think could be taken out

                                              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                              Preamble (brief introduction) Articles (what should it include based on what we

                                              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                              change it)

                                              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                              paper

                                              TED Talk

                                              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                              Closure

                                              bullExplain two principles of the constitution and how are they connected

                                              What is Economics

                                              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                              Important Parts of Economicsndash

                                              CHOICESSCARCITY

                                              Economics ishellip

                                              bullDependent upon assumptions

                                              bullDependent upon simplification of reality

                                              Back to our assumptionshellip

                                              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                              bullAll sellers seek to maximize profits

                                              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                              For the videohellip

                                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                              Post Videohellip

                                              bullDefine the main idea of the video in 4-5 words

                                              Advertisement

                                              bullKnowing some of the basics about what economics is and why we study ithellip

                                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                              3 images that represent different economic ideas

                                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                              1 slogan that represents why economics is an important course to take

                                              Political Cartoon Analysis

                                              Factors of Production bull LAND

                                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                              soil minerals water and plants

                                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                                              into producing goodsservices

                                              bull CAPITAL Includes tools machines buildings and

                                              technologies

                                              bull ENTREPRENEUR Risk taker who is responsible for combining

                                              land labor and capital to produce goods and services

                                              TASK

                                              bullTask Why are entrepreneurs the driving force in our economy

                                              bullAnswer in 2-3 sentences

                                              The price ofhellip

                                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                              Economic efficiency is achieved when all available resources are being used

                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                              1 What to produce

                                              bullShould it be military or civilian goods

                                              bullFood or clothingbullMedicine or movies

                                              2 How to produce it

                                              bullAutomated or manual labor

                                              bullExpensive or cheap materials

                                              bullDomestic or overseas labor

                                              3 For whom to produce it

                                              bullThe wealthy or the needybullThe sick or the healthy

                                              Application Activity

                                              bull In groups of 2-3 create your own country (name it please)

                                              bull With your countryrsquos name explain the Population geography and general population

                                              information (iehellipbull Choose 5 items for your country to produce and

                                              answer the three societal questions for eachALSO explain why this material would help your

                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                              withhellip Images representing what you produce and a

                                              slogan for why your country is awesome

                                              EQs

                                              bullHow does scarcity impact decision making

                                              Objectives amp Essential QuestionsbullObjectives

                                              I will be able to create and reflect on a budget given new economics content

                                              I will be able to understand scarcity and our mixed economy

                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                              Group Activity Budget Activity

                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                              How do we satisfy our economic wants

                                              bull We buy goods or services

                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                              bull Service ndash work done by someone else for which someone is willing to pay

                                              How do we make goods amp services

                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                              Production Equation

                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                              inputs output

                                              Economic Interdependence

                                              bullWhat does lsquointerdependencersquo mean

                                              bullIs our world becoming economic interdependent or independent

                                              bullEconomic Interdependence the actions of one part of the

                                              country (world) has an impact on what happens elsewhere

                                              Wants amp Needs gt

                                              Resources

                                              Because of scarcity we

                                              have to make choices

                                              How do we make a choice What do we give up

                                              What does this remind you of from our government unit

                                              Making Choices to Deal With Scarcity

                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                              decision over another

                                              ExampleshellipbullSome choices are easy to makehellip

                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                              school today or should I sleep in

                                              Task Reflecting on Personal Trade-offshellip

                                              In the end what helped you decide amongst your choices

                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                              tradeoffs for that decision

                                              Be prepared to share

                                              Opportunity Cost

                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                              Opportunity Cost ndash The best thing we give up to get what

                                              we want

                                              What else influences your choices

                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                              FinallyhellipWhy it Matters

                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                              better decision-maker

                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                              You always have to give something uphelliprdquo

                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                              decisions

                                              Visualizing the Relationshiphellip

                                              Limited Resources amp Unlimited Wants

                                              Scarcity

                                              Trade-offs (choices)

                                              Opportunity Costs

                                              ObjectivesEssential Questions

                                              bullObjectivebullI will be able to understand (and teach)

                                              the three different types of economies

                                              bullEssential Question How do the different types of economies work

                                              How Can We Measure What We Gain and Lose When

                                              Making Choices

                                              Answer With a Production Possibilities Frontier

                                              Production Possibilities Frontier

                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                              PPF Assumptions

                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                              Production Possibilities Curve

                                              CD

                                              E

                                              OU

                                              TP

                                              UT

                                              OF

                                              CO

                                              NS

                                              UM

                                              ER

                                              GO

                                              OD

                                              S

                                              (un

                                              its

                                              per

                                              yea

                                              r)

                                              OUTPUT OF MILITARY GOODS (units per year)

                                              A

                                              BO

                                              XF

                                              G

                                              Limited resources necessitate choices about WHAT to produce

                                              The Choices Nations Make

                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                              bullProduce military goods or consumer goods

                                              Economic Growth

                                              2000 production possibilities

                                              1900 production possibilities

                                              OU

                                              TP

                                              UT

                                              OF

                                              CO

                                              NS

                                              UM

                                              ER

                                              GO

                                              OD

                                              S(u

                                              nits

                                              per

                                              yea

                                              r)

                                              OUTPUT OF MILITARY GOODS (units per year)

                                              Production possibilities increases with more resources and technology

                                              The Classic Guns and Butter example

                                              Guns

                                              Butter

                                              10000 20000 30000 40000 50000

                                              1000009500085000

                                              70000

                                              5000040000

                                              BA

                                              C

                                              D

                                              E

                                              F

                                              At point A all resources are used for butter

                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                              At point F all resources are used for Guns

                                              Productivitybull A PPF can help us see how efficient our

                                              choices are

                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                              Locations on a PPF

                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                              Food

                                              Computer

                                              4

                                              3

                                              2

                                              1

                                              1 2 3 4

                                              OC between 1 and 2 computers = 1 Food

                                              UnitOC between 3 and 4 computers = 1 Food

                                              Unit

                                              Constantly giving up the same quantity of food to get

                                              additional computers

                                              STRAIGHT-LINE PPFs Constant OC

                                              BOWED-OUT PPFs VaryingIncreasing OC

                                              Principle of Increasing Costs

                                              As a society produces more of one product the OC of producing

                                              that product increases because we are using more resources that are poorly suited to produce it

                                              Economic Systems

                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                              How a society answers the three basic economic questions determines which type of economic system they are

                                              Three Types of Economic Systems Command Traditional Market

                                              Jigsaw activity

                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                              bullYou will have 7 minutes to read and come up with 4 key components

                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                              Economic amp Social Goals of an Economic System

                                              bull Economic Freedom

                                              bull Economic Efficiency

                                              bull Economic Equity

                                              bull Economic Security

                                              Economic Stability

                                              Economic Growth

                                              Review of Economic Systems

                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                              What are the most important goals of each economic system

                                              bullTraditionalSecurity and

                                              StabilitybullCommand

                                              Equity and Security

                                              bullMARKETEfficiency and

                                              Freedom

                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                              at the expense of another (TRADEOFFS)

                                              Which economic system does the US use

                                              The American Economic System

                                              bullWe have a mixed market economy

                                              COMMAND MARKET

                                              The US mixed economybull In a mixed economyhellip

                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                              Think backhellip

                                              bullWhat does this remind you of from the beginning of the unit

                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                              2 Limited government

                                              3 Equal opportunity

                                              4 Competition

                                              5 Profit motive

                                              6 Property Rights

                                              7 Binding Contracts

                                              Understanding how all parts fit together

                                              Circular Flow of Economic Activity Represents a market economy

                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                              Shows interdependence between

                                              businesses and individuals

                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                              bull Using what you have learned this unit and using the textbook

                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                              Do you remember

                                              bullWrite the following question downbullWhy does the United States have a

                                              democracy and mixed economy

                                              • Foundations of Government and Economics
                                              • On your blank piece of paperhellip
                                              • Slide 3
                                              • Warm-Up 1 - 9414
                                              • Introductory thoughts hellip
                                              • Slide 6
                                              • 2 How about to your life
                                              • Slide 8
                                              • Slide 9
                                              • Slide 10
                                              • Slide 11
                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                              • Warm up 2bndash In Journal-
                                              • Economist and Politician Assumptions
                                              • Individualism
                                              • Quote activity
                                              • Quote breakdown
                                              • Warm Up 3- Current Event 9814
                                              • Purpose of Government
                                              • Slide 20
                                              • 3 Theorists
                                              • Activity
                                              • Origins of American Government A customized government
                                              • Origins of American Government A customized government (2)
                                              • Origins of American Government A customized government (3)
                                              • With which theory do you agree more Why
                                              • The ldquoOriginal Dilemmardquo
                                              • Warm Up 5 Hobbes and Locke
                                              • Groups Block 2
                                              • Groups Block 4
                                              • Balloon Game
                                              • You will have 10 minutes to get as many filled balloons on the
                                              • Balloon Game Debriefing
                                              • Political Theories
                                              • Social Contract
                                              • Natural Rights
                                              • Democracy
                                              • Concepts of Government
                                              • Warm up 6 ndash 91114
                                              • Warm Up 7
                                              • And after the Constitution
                                              • Activity (2)
                                              • Picture Activity
                                              • Constitutional Convention
                                              • Purpose of the Convention
                                              • VA Plan v NJ Plan
                                              • Virginia Plan ldquoLarge State Planrdquo
                                              • New Jersey Plan ldquoSmall State Planrdquo
                                              • Your Task
                                              • Closure
                                              • States agree
                                              • Quote
                                              • Structure of Constitution
                                              • Structure of Constitution
                                              • 6 Purpose of Government
                                              • Structure of Constitution (2)
                                              • Structure of Constitution (3)
                                              • Principles of Constitution
                                              • Activity
                                              • Slide 60
                                              • Check for Understanding Six Principles
                                              • Question 1
                                              • Question 2
                                              • Question 3
                                              • Question 4
                                              • Question 5
                                              • Question 6
                                              • Question 7
                                              • Question 8
                                              • Groups
                                              • Separation of Powers
                                              • Video
                                              • Checks and Balances
                                              • Slide 74
                                              • Checks and balances
                                              • Basic Principles
                                              • Self- Worth
                                              • Equality
                                              • Compromise
                                              • Individual Freedom
                                              • Write your ownhellip
                                              • Slide 82
                                              • TED Talk
                                              • Closure
                                              • What is Economics
                                              • Economics ishellip
                                              • Back to our assumptionshellip
                                              • Scarcity refers to the limited number of resources (factors of
                                              • For the videohellip
                                              • Slide 90
                                              • Post Videohellip
                                              • Advertisement
                                              • Political Cartoon Analysis
                                              • Factors of Production
                                              • TASK
                                              • The price ofhellip
                                              • Economic efficiency is achieved when all available resources ar
                                              • 1 What to produce
                                              • 2 How to produce it
                                              • 3 For whom to produce it
                                              • Application Activity
                                              • EQs
                                              • Objectives amp Essential Questions
                                              • Group Activity Budget Activity
                                              • Slide 105
                                              • How do we satisfy our economic wants
                                              • How do we make goods amp services
                                              • Economic Interdependence
                                              • Slide 109
                                              • Making Choices to Deal With Scarcity
                                              • Exampleshellip
                                              • Task Reflecting on Personal Trade-offshellip
                                              • Opportunity Cost
                                              • What else influences your choices
                                              • Finallyhellip Why it Matters
                                              • Visualizing the Relationshiphellip
                                              • ObjectivesEssential Questions
                                              • How Can We Measure What We Gain and Lose When Making Choices
                                              • Production Possibilities Frontier
                                              • PPF Assumptions
                                              • Slide 121
                                              • Production Possibilities Curve
                                              • The Choices Nations Make
                                              • Economic Growth
                                              • The Classic Guns and Butter example
                                              • Productivity
                                              • Locations on a PPF
                                              • Slide 128
                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                              • Economic Systems
                                              • Jigsaw activity
                                              • Slide 132
                                              • Economic amp Social Goals of an Economic System
                                              • Review of Economic Systems
                                              • Slide 135
                                              • What are the most important goals of each economic system
                                              • Which economic system does the US use
                                              • The American Economic System
                                              • The US mixed economy
                                              • Slide 140
                                              • Think backhellip
                                              • US Economic System Characteristics
                                              • Slide 143
                                              • Understanding how all parts fit together
                                              • Marriage Vows
                                              • Do you remember
                                              • Slide 147

                                                Origins of American Government A customized government

                                                bullFrench Enlightenment Thinkersrsquo Contributions Jean-Jacques Rousseau

                                                Believed people were naturally good but corrupted and enslaved by society

                                                Believed government had a duty to secure freedom for their people and if they did not they had no right to exist

                                                ldquoForce does not create right obedience is due to only legitimate powersrdquo

                                                With which theory do you agree more Why

                                                John Locke Thomas Hobbes

                                                The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                                purpose of government Government needs to attain power from the

                                                people in order to perform any functions

                                                CLOSURE How much power is too much How much

                                                liberty should be given up hellip bullThis represented a debated trade offhellip

                                                Clash of order and freedom= Original Dilemma

                                                Warm Up 5 Hobbes and Locke

                                                Hobbes

                                                Locke

                                                Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                                Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                                Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                                Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                                Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                                Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                                Group 2JakeShawnKatieDrewWyattKatAshlyn

                                                Group 3JennaCeatonJeffLivSteveGarciaTom

                                                Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                                Balloon Game Objective

                                                To be the team with the most filled balloons taped into the square on the board Rules

                                                1 No running 2 No touching classmates hellip that does

                                                not mean you canrsquot touch their balloons hellip

                                                3 No removal of balloons once they are taped to the board

                                                You will have less than 5 minutes to come up with a strategy in your group

                                                You will have 10 minutes to get as many filled balloons on the square as possible

                                                End

                                                >

                                                Balloon Game Debriefing What type of behavior did you see during the

                                                game

                                                List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                                Why do you think you needed more ldquorulesrdquo during

                                                this game

                                                How does this relate to this class How does it relate to the theorists

                                                Political Theories

                                                Force Theory small group forced

                                                all to submit to person andor grouprsquos rule

                                                Evolutionary Theory developed naturally out of the

                                                evolution of the family

                                                Divine Right held that God created the state

                                                and God had given those of royal birth

                                                ldquodivine rightrdquo to rule

                                                Social Contract argues that state arose out of a

                                                voluntary act of free people State exists only

                                                to serve the will of the people

                                                Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                power to a government to protect them and serve their interests

                                                bullFree to remove that power at any timebullGovernment can only create laws when it

                                                has the consent of the governedbullExamples

                                                Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                cannot be taken away by any one (government)

                                                bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                bull Idea of consent derived from social contract theory

                                                Democracybull A system of government in which in

                                                theory the people rule either directly or indirectly

                                                bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                Concepts of Governmentbull Ordered governmentmdashneed for order

                                                bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                Warm up 6 ndash 91114

                                                Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                Warm Up 7

                                                bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                And after the ConstitutionFederalism vs Anti-Federalism

                                                bullFederalists believed Favored ratification believed Constitution was

                                                strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                bullAnti-Federalists believed Opposed ratification believed Constitution

                                                was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                Activity

                                                bullEach of you will get a card it either has a termperson or a definition on it

                                                bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                secret with your partner

                                                Picture Activity

                                                bullGallery Walk

                                                Constitutional Convention

                                                bullMet in Philadelphia in 1787

                                                bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                bullThese men were collectively known as ldquoThe Framersrdquo

                                                Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                Confederation bullDelegates quickly realized they were

                                                meeting to create a new government (with 3 branches)

                                                VA Plan v NJ Plan

                                                Several plans were proposed to correct the weaknesses of the Articles

                                                bullVirginia PlanbullNew Jersey Plan

                                                Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                Virginia Plan ldquoLarge State Planrdquo

                                                bullStrong central govrsquotbullL Bicameral Congress

                                                Representation based on population

                                                bullE ldquoPresidentrdquo Chosen by Congress

                                                bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                Each state would have = representationExpand power to tax amp regulate trade

                                                bullE Two-person presidencyChosen by Congress able to be removed

                                                bullJ Single Supreme CourtChosen by Executive

                                                Your Task

                                                Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                them to choose your planUse catchy phrasesslogans and be sure to

                                                include the historical features of your plan (VA or NJ)

                                                At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                Closure

                                                bullWhat do you think (or know) happens to these two plans

                                                States agreebull States agree to (ratify) the Constitution

                                                only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                Quote

                                                bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                bullWhat words stick to you in this quote Why

                                                Structure of Constitutionbull Provides basic

                                                framework for US government

                                                bull Outlines basic principles structure and processes

                                                bull Three partsmdashPreambleArticlesAmendments

                                                Structure of Constitution bull Preamble

                                                Introduction to the Constitution Lists ideas that the government should stand for

                                                and states purposes We the people of the United States in Order

                                                to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                6 Purpose of Government bull Form a More Perfect Union

                                                bull Establish Justice bull Insure Domestic Tranquility

                                                bull Provide for the Common Defense

                                                bull Promote the General Welfare

                                                bull Secure the Blessings of Liberty

                                                For each phrase consider the followinghellip

                                                1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                2 Is this phrase important today

                                                Structure of Constitution bullArticles

                                                Main body of the Constitution Lay out basic structure of the national

                                                governmentFurther broken down into sections and clauses

                                                Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                Clause oaths of office

                                                Article VII Ratification

                                                Structure of Constitution

                                                bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                Activity

                                                Activity bull STEP 1 bull Fill in the graphic

                                                organizer in your guided notes packet You have 8 minutes on your own to do this

                                                bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                Principle Explanation

                                                Popular Sovereignty Idea that people are the source of all power held by the government

                                                Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                Federalism Divides the power between the central government and the States

                                                Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                Question 1

                                                bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                Popular Sovereignty

                                                Question 2

                                                bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                Limited Government

                                                Question 3

                                                bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                Limited Government

                                                Question 4

                                                bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                SEPARATION OF POWERS

                                                Question 5

                                                bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                Checks and Balances

                                                Question 6

                                                bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                CHECKS AND BALANCES

                                                Question 7

                                                bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                JUDICIAL REVIEW

                                                Question 8

                                                bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                Federalism

                                                GroupsPopular

                                                SovereigntySeparation of

                                                PowersFederalism

                                                bull bull bull

                                                Judicial Review

                                                Limited Government

                                                Checks and Balances

                                                bull bull bull

                                                Separation of Powers

                                                bull Legislative branchmdashmakes the laws

                                                bull Executive branchmdashenforces the laws

                                                bull Judicial branchmdashinterprets the law

                                                Video

                                                bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                Checks and Balances

                                                Checks and balances

                                                bullIn what was do the branches check on one another

                                                bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                Basic Principles

                                                bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                Self- Worth

                                                bull A recognition of the fundamental worth of every person

                                                bull The democratic process reflects the collective set of individuals who make up society

                                                Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                Compromise

                                                bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                bullWhy is compromise important

                                                Individual Freedombull Right of the

                                                individual to be free as far as the freedom of all will allow

                                                bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                Write your ownhellipbull Now that you know what the foundations of

                                                government arehellip Create your own Constitution (Or social contract)

                                                What do you think is important to include What do you think could be taken out

                                                Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                Preamble (brief introduction) Articles (what should it include based on what we

                                                learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                change it)

                                                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                paper

                                                TED Talk

                                                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                Closure

                                                bullExplain two principles of the constitution and how are they connected

                                                What is Economics

                                                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                Important Parts of Economicsndash

                                                CHOICESSCARCITY

                                                Economics ishellip

                                                bullDependent upon assumptions

                                                bullDependent upon simplification of reality

                                                Back to our assumptionshellip

                                                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                bullAll sellers seek to maximize profits

                                                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                For the videohellip

                                                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                Post Videohellip

                                                bullDefine the main idea of the video in 4-5 words

                                                Advertisement

                                                bullKnowing some of the basics about what economics is and why we study ithellip

                                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                3 images that represent different economic ideas

                                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                1 slogan that represents why economics is an important course to take

                                                Political Cartoon Analysis

                                                Factors of Production bull LAND

                                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                soil minerals water and plants

                                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                into producing goodsservices

                                                bull CAPITAL Includes tools machines buildings and

                                                technologies

                                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                                land labor and capital to produce goods and services

                                                TASK

                                                bullTask Why are entrepreneurs the driving force in our economy

                                                bullAnswer in 2-3 sentences

                                                The price ofhellip

                                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                Economic efficiency is achieved when all available resources are being used

                                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                1 What to produce

                                                bullShould it be military or civilian goods

                                                bullFood or clothingbullMedicine or movies

                                                2 How to produce it

                                                bullAutomated or manual labor

                                                bullExpensive or cheap materials

                                                bullDomestic or overseas labor

                                                3 For whom to produce it

                                                bullThe wealthy or the needybullThe sick or the healthy

                                                Application Activity

                                                bull In groups of 2-3 create your own country (name it please)

                                                bull With your countryrsquos name explain the Population geography and general population

                                                information (iehellipbull Choose 5 items for your country to produce and

                                                answer the three societal questions for eachALSO explain why this material would help your

                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                withhellip Images representing what you produce and a

                                                slogan for why your country is awesome

                                                EQs

                                                bullHow does scarcity impact decision making

                                                Objectives amp Essential QuestionsbullObjectives

                                                I will be able to create and reflect on a budget given new economics content

                                                I will be able to understand scarcity and our mixed economy

                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                Group Activity Budget Activity

                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                How do we satisfy our economic wants

                                                bull We buy goods or services

                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                How do we make goods amp services

                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                Production Equation

                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                inputs output

                                                Economic Interdependence

                                                bullWhat does lsquointerdependencersquo mean

                                                bullIs our world becoming economic interdependent or independent

                                                bullEconomic Interdependence the actions of one part of the

                                                country (world) has an impact on what happens elsewhere

                                                Wants amp Needs gt

                                                Resources

                                                Because of scarcity we

                                                have to make choices

                                                How do we make a choice What do we give up

                                                What does this remind you of from our government unit

                                                Making Choices to Deal With Scarcity

                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                decision over another

                                                ExampleshellipbullSome choices are easy to makehellip

                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                school today or should I sleep in

                                                Task Reflecting on Personal Trade-offshellip

                                                In the end what helped you decide amongst your choices

                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                tradeoffs for that decision

                                                Be prepared to share

                                                Opportunity Cost

                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                Opportunity Cost ndash The best thing we give up to get what

                                                we want

                                                What else influences your choices

                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                FinallyhellipWhy it Matters

                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                better decision-maker

                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                You always have to give something uphelliprdquo

                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                decisions

                                                Visualizing the Relationshiphellip

                                                Limited Resources amp Unlimited Wants

                                                Scarcity

                                                Trade-offs (choices)

                                                Opportunity Costs

                                                ObjectivesEssential Questions

                                                bullObjectivebullI will be able to understand (and teach)

                                                the three different types of economies

                                                bullEssential Question How do the different types of economies work

                                                How Can We Measure What We Gain and Lose When

                                                Making Choices

                                                Answer With a Production Possibilities Frontier

                                                Production Possibilities Frontier

                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                PPF Assumptions

                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                Production Possibilities Curve

                                                CD

                                                E

                                                OU

                                                TP

                                                UT

                                                OF

                                                CO

                                                NS

                                                UM

                                                ER

                                                GO

                                                OD

                                                S

                                                (un

                                                its

                                                per

                                                yea

                                                r)

                                                OUTPUT OF MILITARY GOODS (units per year)

                                                A

                                                BO

                                                XF

                                                G

                                                Limited resources necessitate choices about WHAT to produce

                                                The Choices Nations Make

                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                bullProduce military goods or consumer goods

                                                Economic Growth

                                                2000 production possibilities

                                                1900 production possibilities

                                                OU

                                                TP

                                                UT

                                                OF

                                                CO

                                                NS

                                                UM

                                                ER

                                                GO

                                                OD

                                                S(u

                                                nits

                                                per

                                                yea

                                                r)

                                                OUTPUT OF MILITARY GOODS (units per year)

                                                Production possibilities increases with more resources and technology

                                                The Classic Guns and Butter example

                                                Guns

                                                Butter

                                                10000 20000 30000 40000 50000

                                                1000009500085000

                                                70000

                                                5000040000

                                                BA

                                                C

                                                D

                                                E

                                                F

                                                At point A all resources are used for butter

                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                At point F all resources are used for Guns

                                                Productivitybull A PPF can help us see how efficient our

                                                choices are

                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                Locations on a PPF

                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                Food

                                                Computer

                                                4

                                                3

                                                2

                                                1

                                                1 2 3 4

                                                OC between 1 and 2 computers = 1 Food

                                                UnitOC between 3 and 4 computers = 1 Food

                                                Unit

                                                Constantly giving up the same quantity of food to get

                                                additional computers

                                                STRAIGHT-LINE PPFs Constant OC

                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                Principle of Increasing Costs

                                                As a society produces more of one product the OC of producing

                                                that product increases because we are using more resources that are poorly suited to produce it

                                                Economic Systems

                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                Three Types of Economic Systems Command Traditional Market

                                                Jigsaw activity

                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                Economic amp Social Goals of an Economic System

                                                bull Economic Freedom

                                                bull Economic Efficiency

                                                bull Economic Equity

                                                bull Economic Security

                                                Economic Stability

                                                Economic Growth

                                                Review of Economic Systems

                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                What are the most important goals of each economic system

                                                bullTraditionalSecurity and

                                                StabilitybullCommand

                                                Equity and Security

                                                bullMARKETEfficiency and

                                                Freedom

                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                at the expense of another (TRADEOFFS)

                                                Which economic system does the US use

                                                The American Economic System

                                                bullWe have a mixed market economy

                                                COMMAND MARKET

                                                The US mixed economybull In a mixed economyhellip

                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                Think backhellip

                                                bullWhat does this remind you of from the beginning of the unit

                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                2 Limited government

                                                3 Equal opportunity

                                                4 Competition

                                                5 Profit motive

                                                6 Property Rights

                                                7 Binding Contracts

                                                Understanding how all parts fit together

                                                Circular Flow of Economic Activity Represents a market economy

                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                Shows interdependence between

                                                businesses and individuals

                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                bull Using what you have learned this unit and using the textbook

                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                Do you remember

                                                bullWrite the following question downbullWhy does the United States have a

                                                democracy and mixed economy

                                                • Foundations of Government and Economics
                                                • On your blank piece of paperhellip
                                                • Slide 3
                                                • Warm-Up 1 - 9414
                                                • Introductory thoughts hellip
                                                • Slide 6
                                                • 2 How about to your life
                                                • Slide 8
                                                • Slide 9
                                                • Slide 10
                                                • Slide 11
                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                • Warm up 2bndash In Journal-
                                                • Economist and Politician Assumptions
                                                • Individualism
                                                • Quote activity
                                                • Quote breakdown
                                                • Warm Up 3- Current Event 9814
                                                • Purpose of Government
                                                • Slide 20
                                                • 3 Theorists
                                                • Activity
                                                • Origins of American Government A customized government
                                                • Origins of American Government A customized government (2)
                                                • Origins of American Government A customized government (3)
                                                • With which theory do you agree more Why
                                                • The ldquoOriginal Dilemmardquo
                                                • Warm Up 5 Hobbes and Locke
                                                • Groups Block 2
                                                • Groups Block 4
                                                • Balloon Game
                                                • You will have 10 minutes to get as many filled balloons on the
                                                • Balloon Game Debriefing
                                                • Political Theories
                                                • Social Contract
                                                • Natural Rights
                                                • Democracy
                                                • Concepts of Government
                                                • Warm up 6 ndash 91114
                                                • Warm Up 7
                                                • And after the Constitution
                                                • Activity (2)
                                                • Picture Activity
                                                • Constitutional Convention
                                                • Purpose of the Convention
                                                • VA Plan v NJ Plan
                                                • Virginia Plan ldquoLarge State Planrdquo
                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                • Your Task
                                                • Closure
                                                • States agree
                                                • Quote
                                                • Structure of Constitution
                                                • Structure of Constitution
                                                • 6 Purpose of Government
                                                • Structure of Constitution (2)
                                                • Structure of Constitution (3)
                                                • Principles of Constitution
                                                • Activity
                                                • Slide 60
                                                • Check for Understanding Six Principles
                                                • Question 1
                                                • Question 2
                                                • Question 3
                                                • Question 4
                                                • Question 5
                                                • Question 6
                                                • Question 7
                                                • Question 8
                                                • Groups
                                                • Separation of Powers
                                                • Video
                                                • Checks and Balances
                                                • Slide 74
                                                • Checks and balances
                                                • Basic Principles
                                                • Self- Worth
                                                • Equality
                                                • Compromise
                                                • Individual Freedom
                                                • Write your ownhellip
                                                • Slide 82
                                                • TED Talk
                                                • Closure
                                                • What is Economics
                                                • Economics ishellip
                                                • Back to our assumptionshellip
                                                • Scarcity refers to the limited number of resources (factors of
                                                • For the videohellip
                                                • Slide 90
                                                • Post Videohellip
                                                • Advertisement
                                                • Political Cartoon Analysis
                                                • Factors of Production
                                                • TASK
                                                • The price ofhellip
                                                • Economic efficiency is achieved when all available resources ar
                                                • 1 What to produce
                                                • 2 How to produce it
                                                • 3 For whom to produce it
                                                • Application Activity
                                                • EQs
                                                • Objectives amp Essential Questions
                                                • Group Activity Budget Activity
                                                • Slide 105
                                                • How do we satisfy our economic wants
                                                • How do we make goods amp services
                                                • Economic Interdependence
                                                • Slide 109
                                                • Making Choices to Deal With Scarcity
                                                • Exampleshellip
                                                • Task Reflecting on Personal Trade-offshellip
                                                • Opportunity Cost
                                                • What else influences your choices
                                                • Finallyhellip Why it Matters
                                                • Visualizing the Relationshiphellip
                                                • ObjectivesEssential Questions
                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                • Production Possibilities Frontier
                                                • PPF Assumptions
                                                • Slide 121
                                                • Production Possibilities Curve
                                                • The Choices Nations Make
                                                • Economic Growth
                                                • The Classic Guns and Butter example
                                                • Productivity
                                                • Locations on a PPF
                                                • Slide 128
                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                • Economic Systems
                                                • Jigsaw activity
                                                • Slide 132
                                                • Economic amp Social Goals of an Economic System
                                                • Review of Economic Systems
                                                • Slide 135
                                                • What are the most important goals of each economic system
                                                • Which economic system does the US use
                                                • The American Economic System
                                                • The US mixed economy
                                                • Slide 140
                                                • Think backhellip
                                                • US Economic System Characteristics
                                                • Slide 143
                                                • Understanding how all parts fit together
                                                • Marriage Vows
                                                • Do you remember
                                                • Slide 147

                                                  With which theory do you agree more Why

                                                  John Locke Thomas Hobbes

                                                  The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                                  purpose of government Government needs to attain power from the

                                                  people in order to perform any functions

                                                  CLOSURE How much power is too much How much

                                                  liberty should be given up hellip bullThis represented a debated trade offhellip

                                                  Clash of order and freedom= Original Dilemma

                                                  Warm Up 5 Hobbes and Locke

                                                  Hobbes

                                                  Locke

                                                  Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                                  Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                                  Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                                  Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                                  Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                                  Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                                  Group 2JakeShawnKatieDrewWyattKatAshlyn

                                                  Group 3JennaCeatonJeffLivSteveGarciaTom

                                                  Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                                  Balloon Game Objective

                                                  To be the team with the most filled balloons taped into the square on the board Rules

                                                  1 No running 2 No touching classmates hellip that does

                                                  not mean you canrsquot touch their balloons hellip

                                                  3 No removal of balloons once they are taped to the board

                                                  You will have less than 5 minutes to come up with a strategy in your group

                                                  You will have 10 minutes to get as many filled balloons on the square as possible

                                                  End

                                                  >

                                                  Balloon Game Debriefing What type of behavior did you see during the

                                                  game

                                                  List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                                  Why do you think you needed more ldquorulesrdquo during

                                                  this game

                                                  How does this relate to this class How does it relate to the theorists

                                                  Political Theories

                                                  Force Theory small group forced

                                                  all to submit to person andor grouprsquos rule

                                                  Evolutionary Theory developed naturally out of the

                                                  evolution of the family

                                                  Divine Right held that God created the state

                                                  and God had given those of royal birth

                                                  ldquodivine rightrdquo to rule

                                                  Social Contract argues that state arose out of a

                                                  voluntary act of free people State exists only

                                                  to serve the will of the people

                                                  Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                  power to a government to protect them and serve their interests

                                                  bullFree to remove that power at any timebullGovernment can only create laws when it

                                                  has the consent of the governedbullExamples

                                                  Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                  cannot be taken away by any one (government)

                                                  bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                  bull Idea of consent derived from social contract theory

                                                  Democracybull A system of government in which in

                                                  theory the people rule either directly or indirectly

                                                  bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                  Concepts of Governmentbull Ordered governmentmdashneed for order

                                                  bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                  bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                  Warm up 6 ndash 91114

                                                  Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                  are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                  Warm Up 7

                                                  bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                  And after the ConstitutionFederalism vs Anti-Federalism

                                                  bullFederalists believed Favored ratification believed Constitution was

                                                  strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                  bullAnti-Federalists believed Opposed ratification believed Constitution

                                                  was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                  Activity

                                                  bullEach of you will get a card it either has a termperson or a definition on it

                                                  bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                  bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                  secret with your partner

                                                  Picture Activity

                                                  bullGallery Walk

                                                  Constitutional Convention

                                                  bullMet in Philadelphia in 1787

                                                  bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                  bullThese men were collectively known as ldquoThe Framersrdquo

                                                  Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                  Confederation bullDelegates quickly realized they were

                                                  meeting to create a new government (with 3 branches)

                                                  VA Plan v NJ Plan

                                                  Several plans were proposed to correct the weaknesses of the Articles

                                                  bullVirginia PlanbullNew Jersey Plan

                                                  Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                  Virginia Plan ldquoLarge State Planrdquo

                                                  bullStrong central govrsquotbullL Bicameral Congress

                                                  Representation based on population

                                                  bullE ldquoPresidentrdquo Chosen by Congress

                                                  bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                  New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                  Each state would have = representationExpand power to tax amp regulate trade

                                                  bullE Two-person presidencyChosen by Congress able to be removed

                                                  bullJ Single Supreme CourtChosen by Executive

                                                  Your Task

                                                  Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                  them to choose your planUse catchy phrasesslogans and be sure to

                                                  include the historical features of your plan (VA or NJ)

                                                  At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                  Closure

                                                  bullWhat do you think (or know) happens to these two plans

                                                  States agreebull States agree to (ratify) the Constitution

                                                  only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                  bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                  Quote

                                                  bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                  bullWhat words stick to you in this quote Why

                                                  Structure of Constitutionbull Provides basic

                                                  framework for US government

                                                  bull Outlines basic principles structure and processes

                                                  bull Three partsmdashPreambleArticlesAmendments

                                                  Structure of Constitution bull Preamble

                                                  Introduction to the Constitution Lists ideas that the government should stand for

                                                  and states purposes We the people of the United States in Order

                                                  to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                  6 Purpose of Government bull Form a More Perfect Union

                                                  bull Establish Justice bull Insure Domestic Tranquility

                                                  bull Provide for the Common Defense

                                                  bull Promote the General Welfare

                                                  bull Secure the Blessings of Liberty

                                                  For each phrase consider the followinghellip

                                                  1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                  2 Is this phrase important today

                                                  Structure of Constitution bullArticles

                                                  Main body of the Constitution Lay out basic structure of the national

                                                  governmentFurther broken down into sections and clauses

                                                  Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                  Clause oaths of office

                                                  Article VII Ratification

                                                  Structure of Constitution

                                                  bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                  Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                  bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                  Activity

                                                  Activity bull STEP 1 bull Fill in the graphic

                                                  organizer in your guided notes packet You have 8 minutes on your own to do this

                                                  bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                  Principle Explanation

                                                  Popular Sovereignty Idea that people are the source of all power held by the government

                                                  Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                  Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                  Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                  Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                  Federalism Divides the power between the central government and the States

                                                  Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                  Question 1

                                                  bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                  Popular Sovereignty

                                                  Question 2

                                                  bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                  Limited Government

                                                  Question 3

                                                  bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                  Limited Government

                                                  Question 4

                                                  bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                  SEPARATION OF POWERS

                                                  Question 5

                                                  bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                  Checks and Balances

                                                  Question 6

                                                  bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                  CHECKS AND BALANCES

                                                  Question 7

                                                  bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                  JUDICIAL REVIEW

                                                  Question 8

                                                  bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                  Federalism

                                                  GroupsPopular

                                                  SovereigntySeparation of

                                                  PowersFederalism

                                                  bull bull bull

                                                  Judicial Review

                                                  Limited Government

                                                  Checks and Balances

                                                  bull bull bull

                                                  Separation of Powers

                                                  bull Legislative branchmdashmakes the laws

                                                  bull Executive branchmdashenforces the laws

                                                  bull Judicial branchmdashinterprets the law

                                                  Video

                                                  bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                  Checks and Balances

                                                  Checks and balances

                                                  bullIn what was do the branches check on one another

                                                  bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                  Basic Principles

                                                  bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                  Self- Worth

                                                  bull A recognition of the fundamental worth of every person

                                                  bull The democratic process reflects the collective set of individuals who make up society

                                                  Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                  bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                  bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                  Compromise

                                                  bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                  bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                  bullWhy is compromise important

                                                  Individual Freedombull Right of the

                                                  individual to be free as far as the freedom of all will allow

                                                  bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                  Write your ownhellipbull Now that you know what the foundations of

                                                  government arehellip Create your own Constitution (Or social contract)

                                                  What do you think is important to include What do you think could be taken out

                                                  Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                  Preamble (brief introduction) Articles (what should it include based on what we

                                                  learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                  change it)

                                                  bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                  paper

                                                  TED Talk

                                                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                  Closure

                                                  bullExplain two principles of the constitution and how are they connected

                                                  What is Economics

                                                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                  Important Parts of Economicsndash

                                                  CHOICESSCARCITY

                                                  Economics ishellip

                                                  bullDependent upon assumptions

                                                  bullDependent upon simplification of reality

                                                  Back to our assumptionshellip

                                                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                  bullAll sellers seek to maximize profits

                                                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                  For the videohellip

                                                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                  Post Videohellip

                                                  bullDefine the main idea of the video in 4-5 words

                                                  Advertisement

                                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                  3 images that represent different economic ideas

                                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                  1 slogan that represents why economics is an important course to take

                                                  Political Cartoon Analysis

                                                  Factors of Production bull LAND

                                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                  soil minerals water and plants

                                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                  into producing goodsservices

                                                  bull CAPITAL Includes tools machines buildings and

                                                  technologies

                                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                                  land labor and capital to produce goods and services

                                                  TASK

                                                  bullTask Why are entrepreneurs the driving force in our economy

                                                  bullAnswer in 2-3 sentences

                                                  The price ofhellip

                                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                  Economic efficiency is achieved when all available resources are being used

                                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                  1 What to produce

                                                  bullShould it be military or civilian goods

                                                  bullFood or clothingbullMedicine or movies

                                                  2 How to produce it

                                                  bullAutomated or manual labor

                                                  bullExpensive or cheap materials

                                                  bullDomestic or overseas labor

                                                  3 For whom to produce it

                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                  Application Activity

                                                  bull In groups of 2-3 create your own country (name it please)

                                                  bull With your countryrsquos name explain the Population geography and general population

                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                  withhellip Images representing what you produce and a

                                                  slogan for why your country is awesome

                                                  EQs

                                                  bullHow does scarcity impact decision making

                                                  Objectives amp Essential QuestionsbullObjectives

                                                  I will be able to create and reflect on a budget given new economics content

                                                  I will be able to understand scarcity and our mixed economy

                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                  Group Activity Budget Activity

                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                  How do we satisfy our economic wants

                                                  bull We buy goods or services

                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                  How do we make goods amp services

                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                  Production Equation

                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                  inputs output

                                                  Economic Interdependence

                                                  bullWhat does lsquointerdependencersquo mean

                                                  bullIs our world becoming economic interdependent or independent

                                                  bullEconomic Interdependence the actions of one part of the

                                                  country (world) has an impact on what happens elsewhere

                                                  Wants amp Needs gt

                                                  Resources

                                                  Because of scarcity we

                                                  have to make choices

                                                  How do we make a choice What do we give up

                                                  What does this remind you of from our government unit

                                                  Making Choices to Deal With Scarcity

                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                  decision over another

                                                  ExampleshellipbullSome choices are easy to makehellip

                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                  school today or should I sleep in

                                                  Task Reflecting on Personal Trade-offshellip

                                                  In the end what helped you decide amongst your choices

                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                  tradeoffs for that decision

                                                  Be prepared to share

                                                  Opportunity Cost

                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                  Opportunity Cost ndash The best thing we give up to get what

                                                  we want

                                                  What else influences your choices

                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                  FinallyhellipWhy it Matters

                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                  better decision-maker

                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                  You always have to give something uphelliprdquo

                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                  decisions

                                                  Visualizing the Relationshiphellip

                                                  Limited Resources amp Unlimited Wants

                                                  Scarcity

                                                  Trade-offs (choices)

                                                  Opportunity Costs

                                                  ObjectivesEssential Questions

                                                  bullObjectivebullI will be able to understand (and teach)

                                                  the three different types of economies

                                                  bullEssential Question How do the different types of economies work

                                                  How Can We Measure What We Gain and Lose When

                                                  Making Choices

                                                  Answer With a Production Possibilities Frontier

                                                  Production Possibilities Frontier

                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                  PPF Assumptions

                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                  Production Possibilities Curve

                                                  CD

                                                  E

                                                  OU

                                                  TP

                                                  UT

                                                  OF

                                                  CO

                                                  NS

                                                  UM

                                                  ER

                                                  GO

                                                  OD

                                                  S

                                                  (un

                                                  its

                                                  per

                                                  yea

                                                  r)

                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                  A

                                                  BO

                                                  XF

                                                  G

                                                  Limited resources necessitate choices about WHAT to produce

                                                  The Choices Nations Make

                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                  bullProduce military goods or consumer goods

                                                  Economic Growth

                                                  2000 production possibilities

                                                  1900 production possibilities

                                                  OU

                                                  TP

                                                  UT

                                                  OF

                                                  CO

                                                  NS

                                                  UM

                                                  ER

                                                  GO

                                                  OD

                                                  S(u

                                                  nits

                                                  per

                                                  yea

                                                  r)

                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                  Production possibilities increases with more resources and technology

                                                  The Classic Guns and Butter example

                                                  Guns

                                                  Butter

                                                  10000 20000 30000 40000 50000

                                                  1000009500085000

                                                  70000

                                                  5000040000

                                                  BA

                                                  C

                                                  D

                                                  E

                                                  F

                                                  At point A all resources are used for butter

                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                  At point F all resources are used for Guns

                                                  Productivitybull A PPF can help us see how efficient our

                                                  choices are

                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                  Locations on a PPF

                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                  Food

                                                  Computer

                                                  4

                                                  3

                                                  2

                                                  1

                                                  1 2 3 4

                                                  OC between 1 and 2 computers = 1 Food

                                                  UnitOC between 3 and 4 computers = 1 Food

                                                  Unit

                                                  Constantly giving up the same quantity of food to get

                                                  additional computers

                                                  STRAIGHT-LINE PPFs Constant OC

                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                  Principle of Increasing Costs

                                                  As a society produces more of one product the OC of producing

                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                  Economic Systems

                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                  Three Types of Economic Systems Command Traditional Market

                                                  Jigsaw activity

                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                  Economic amp Social Goals of an Economic System

                                                  bull Economic Freedom

                                                  bull Economic Efficiency

                                                  bull Economic Equity

                                                  bull Economic Security

                                                  Economic Stability

                                                  Economic Growth

                                                  Review of Economic Systems

                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                  What are the most important goals of each economic system

                                                  bullTraditionalSecurity and

                                                  StabilitybullCommand

                                                  Equity and Security

                                                  bullMARKETEfficiency and

                                                  Freedom

                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                  at the expense of another (TRADEOFFS)

                                                  Which economic system does the US use

                                                  The American Economic System

                                                  bullWe have a mixed market economy

                                                  COMMAND MARKET

                                                  The US mixed economybull In a mixed economyhellip

                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                  Think backhellip

                                                  bullWhat does this remind you of from the beginning of the unit

                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                  2 Limited government

                                                  3 Equal opportunity

                                                  4 Competition

                                                  5 Profit motive

                                                  6 Property Rights

                                                  7 Binding Contracts

                                                  Understanding how all parts fit together

                                                  Circular Flow of Economic Activity Represents a market economy

                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                  Shows interdependence between

                                                  businesses and individuals

                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                  bull Using what you have learned this unit and using the textbook

                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                  Do you remember

                                                  bullWrite the following question downbullWhy does the United States have a

                                                  democracy and mixed economy

                                                  • Foundations of Government and Economics
                                                  • On your blank piece of paperhellip
                                                  • Slide 3
                                                  • Warm-Up 1 - 9414
                                                  • Introductory thoughts hellip
                                                  • Slide 6
                                                  • 2 How about to your life
                                                  • Slide 8
                                                  • Slide 9
                                                  • Slide 10
                                                  • Slide 11
                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                  • Warm up 2bndash In Journal-
                                                  • Economist and Politician Assumptions
                                                  • Individualism
                                                  • Quote activity
                                                  • Quote breakdown
                                                  • Warm Up 3- Current Event 9814
                                                  • Purpose of Government
                                                  • Slide 20
                                                  • 3 Theorists
                                                  • Activity
                                                  • Origins of American Government A customized government
                                                  • Origins of American Government A customized government (2)
                                                  • Origins of American Government A customized government (3)
                                                  • With which theory do you agree more Why
                                                  • The ldquoOriginal Dilemmardquo
                                                  • Warm Up 5 Hobbes and Locke
                                                  • Groups Block 2
                                                  • Groups Block 4
                                                  • Balloon Game
                                                  • You will have 10 minutes to get as many filled balloons on the
                                                  • Balloon Game Debriefing
                                                  • Political Theories
                                                  • Social Contract
                                                  • Natural Rights
                                                  • Democracy
                                                  • Concepts of Government
                                                  • Warm up 6 ndash 91114
                                                  • Warm Up 7
                                                  • And after the Constitution
                                                  • Activity (2)
                                                  • Picture Activity
                                                  • Constitutional Convention
                                                  • Purpose of the Convention
                                                  • VA Plan v NJ Plan
                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                  • Your Task
                                                  • Closure
                                                  • States agree
                                                  • Quote
                                                  • Structure of Constitution
                                                  • Structure of Constitution
                                                  • 6 Purpose of Government
                                                  • Structure of Constitution (2)
                                                  • Structure of Constitution (3)
                                                  • Principles of Constitution
                                                  • Activity
                                                  • Slide 60
                                                  • Check for Understanding Six Principles
                                                  • Question 1
                                                  • Question 2
                                                  • Question 3
                                                  • Question 4
                                                  • Question 5
                                                  • Question 6
                                                  • Question 7
                                                  • Question 8
                                                  • Groups
                                                  • Separation of Powers
                                                  • Video
                                                  • Checks and Balances
                                                  • Slide 74
                                                  • Checks and balances
                                                  • Basic Principles
                                                  • Self- Worth
                                                  • Equality
                                                  • Compromise
                                                  • Individual Freedom
                                                  • Write your ownhellip
                                                  • Slide 82
                                                  • TED Talk
                                                  • Closure
                                                  • What is Economics
                                                  • Economics ishellip
                                                  • Back to our assumptionshellip
                                                  • Scarcity refers to the limited number of resources (factors of
                                                  • For the videohellip
                                                  • Slide 90
                                                  • Post Videohellip
                                                  • Advertisement
                                                  • Political Cartoon Analysis
                                                  • Factors of Production
                                                  • TASK
                                                  • The price ofhellip
                                                  • Economic efficiency is achieved when all available resources ar
                                                  • 1 What to produce
                                                  • 2 How to produce it
                                                  • 3 For whom to produce it
                                                  • Application Activity
                                                  • EQs
                                                  • Objectives amp Essential Questions
                                                  • Group Activity Budget Activity
                                                  • Slide 105
                                                  • How do we satisfy our economic wants
                                                  • How do we make goods amp services
                                                  • Economic Interdependence
                                                  • Slide 109
                                                  • Making Choices to Deal With Scarcity
                                                  • Exampleshellip
                                                  • Task Reflecting on Personal Trade-offshellip
                                                  • Opportunity Cost
                                                  • What else influences your choices
                                                  • Finallyhellip Why it Matters
                                                  • Visualizing the Relationshiphellip
                                                  • ObjectivesEssential Questions
                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                  • Production Possibilities Frontier
                                                  • PPF Assumptions
                                                  • Slide 121
                                                  • Production Possibilities Curve
                                                  • The Choices Nations Make
                                                  • Economic Growth
                                                  • The Classic Guns and Butter example
                                                  • Productivity
                                                  • Locations on a PPF
                                                  • Slide 128
                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                  • Economic Systems
                                                  • Jigsaw activity
                                                  • Slide 132
                                                  • Economic amp Social Goals of an Economic System
                                                  • Review of Economic Systems
                                                  • Slide 135
                                                  • What are the most important goals of each economic system
                                                  • Which economic system does the US use
                                                  • The American Economic System
                                                  • The US mixed economy
                                                  • Slide 140
                                                  • Think backhellip
                                                  • US Economic System Characteristics
                                                  • Slide 143
                                                  • Understanding how all parts fit together
                                                  • Marriage Vows
                                                  • Do you remember
                                                  • Slide 147

                                                    The ldquoOriginal DilemmardquobullAll three theorists wrote about the need and

                                                    purpose of government Government needs to attain power from the

                                                    people in order to perform any functions

                                                    CLOSURE How much power is too much How much

                                                    liberty should be given up hellip bullThis represented a debated trade offhellip

                                                    Clash of order and freedom= Original Dilemma

                                                    Warm Up 5 Hobbes and Locke

                                                    Hobbes

                                                    Locke

                                                    Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                                    Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                                    Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                                    Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                                    Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                                    Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                                    Group 2JakeShawnKatieDrewWyattKatAshlyn

                                                    Group 3JennaCeatonJeffLivSteveGarciaTom

                                                    Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                                    Balloon Game Objective

                                                    To be the team with the most filled balloons taped into the square on the board Rules

                                                    1 No running 2 No touching classmates hellip that does

                                                    not mean you canrsquot touch their balloons hellip

                                                    3 No removal of balloons once they are taped to the board

                                                    You will have less than 5 minutes to come up with a strategy in your group

                                                    You will have 10 minutes to get as many filled balloons on the square as possible

                                                    End

                                                    >

                                                    Balloon Game Debriefing What type of behavior did you see during the

                                                    game

                                                    List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                                    Why do you think you needed more ldquorulesrdquo during

                                                    this game

                                                    How does this relate to this class How does it relate to the theorists

                                                    Political Theories

                                                    Force Theory small group forced

                                                    all to submit to person andor grouprsquos rule

                                                    Evolutionary Theory developed naturally out of the

                                                    evolution of the family

                                                    Divine Right held that God created the state

                                                    and God had given those of royal birth

                                                    ldquodivine rightrdquo to rule

                                                    Social Contract argues that state arose out of a

                                                    voluntary act of free people State exists only

                                                    to serve the will of the people

                                                    Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                    power to a government to protect them and serve their interests

                                                    bullFree to remove that power at any timebullGovernment can only create laws when it

                                                    has the consent of the governedbullExamples

                                                    Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                    cannot be taken away by any one (government)

                                                    bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                    bull Idea of consent derived from social contract theory

                                                    Democracybull A system of government in which in

                                                    theory the people rule either directly or indirectly

                                                    bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                    Concepts of Governmentbull Ordered governmentmdashneed for order

                                                    bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                    bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                    Warm up 6 ndash 91114

                                                    Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                    are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                    Warm Up 7

                                                    bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                    And after the ConstitutionFederalism vs Anti-Federalism

                                                    bullFederalists believed Favored ratification believed Constitution was

                                                    strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                    bullAnti-Federalists believed Opposed ratification believed Constitution

                                                    was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                    Activity

                                                    bullEach of you will get a card it either has a termperson or a definition on it

                                                    bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                    bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                    secret with your partner

                                                    Picture Activity

                                                    bullGallery Walk

                                                    Constitutional Convention

                                                    bullMet in Philadelphia in 1787

                                                    bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                    bullThese men were collectively known as ldquoThe Framersrdquo

                                                    Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                    Confederation bullDelegates quickly realized they were

                                                    meeting to create a new government (with 3 branches)

                                                    VA Plan v NJ Plan

                                                    Several plans were proposed to correct the weaknesses of the Articles

                                                    bullVirginia PlanbullNew Jersey Plan

                                                    Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                    Virginia Plan ldquoLarge State Planrdquo

                                                    bullStrong central govrsquotbullL Bicameral Congress

                                                    Representation based on population

                                                    bullE ldquoPresidentrdquo Chosen by Congress

                                                    bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                    New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                    Each state would have = representationExpand power to tax amp regulate trade

                                                    bullE Two-person presidencyChosen by Congress able to be removed

                                                    bullJ Single Supreme CourtChosen by Executive

                                                    Your Task

                                                    Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                    them to choose your planUse catchy phrasesslogans and be sure to

                                                    include the historical features of your plan (VA or NJ)

                                                    At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                    Closure

                                                    bullWhat do you think (or know) happens to these two plans

                                                    States agreebull States agree to (ratify) the Constitution

                                                    only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                    bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                    Quote

                                                    bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                    bullWhat words stick to you in this quote Why

                                                    Structure of Constitutionbull Provides basic

                                                    framework for US government

                                                    bull Outlines basic principles structure and processes

                                                    bull Three partsmdashPreambleArticlesAmendments

                                                    Structure of Constitution bull Preamble

                                                    Introduction to the Constitution Lists ideas that the government should stand for

                                                    and states purposes We the people of the United States in Order

                                                    to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                    6 Purpose of Government bull Form a More Perfect Union

                                                    bull Establish Justice bull Insure Domestic Tranquility

                                                    bull Provide for the Common Defense

                                                    bull Promote the General Welfare

                                                    bull Secure the Blessings of Liberty

                                                    For each phrase consider the followinghellip

                                                    1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                    2 Is this phrase important today

                                                    Structure of Constitution bullArticles

                                                    Main body of the Constitution Lay out basic structure of the national

                                                    governmentFurther broken down into sections and clauses

                                                    Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                    Clause oaths of office

                                                    Article VII Ratification

                                                    Structure of Constitution

                                                    bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                    Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                    bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                    Activity

                                                    Activity bull STEP 1 bull Fill in the graphic

                                                    organizer in your guided notes packet You have 8 minutes on your own to do this

                                                    bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                    Principle Explanation

                                                    Popular Sovereignty Idea that people are the source of all power held by the government

                                                    Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                    Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                    Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                    Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                    Federalism Divides the power between the central government and the States

                                                    Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                    Question 1

                                                    bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                    Popular Sovereignty

                                                    Question 2

                                                    bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                    Limited Government

                                                    Question 3

                                                    bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                    Limited Government

                                                    Question 4

                                                    bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                    SEPARATION OF POWERS

                                                    Question 5

                                                    bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                    Checks and Balances

                                                    Question 6

                                                    bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                    CHECKS AND BALANCES

                                                    Question 7

                                                    bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                    JUDICIAL REVIEW

                                                    Question 8

                                                    bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                    Federalism

                                                    GroupsPopular

                                                    SovereigntySeparation of

                                                    PowersFederalism

                                                    bull bull bull

                                                    Judicial Review

                                                    Limited Government

                                                    Checks and Balances

                                                    bull bull bull

                                                    Separation of Powers

                                                    bull Legislative branchmdashmakes the laws

                                                    bull Executive branchmdashenforces the laws

                                                    bull Judicial branchmdashinterprets the law

                                                    Video

                                                    bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                    Checks and Balances

                                                    Checks and balances

                                                    bullIn what was do the branches check on one another

                                                    bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                    Basic Principles

                                                    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                    Self- Worth

                                                    bull A recognition of the fundamental worth of every person

                                                    bull The democratic process reflects the collective set of individuals who make up society

                                                    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                    Compromise

                                                    bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                    bullWhy is compromise important

                                                    Individual Freedombull Right of the

                                                    individual to be free as far as the freedom of all will allow

                                                    bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                    Write your ownhellipbull Now that you know what the foundations of

                                                    government arehellip Create your own Constitution (Or social contract)

                                                    What do you think is important to include What do you think could be taken out

                                                    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                    Preamble (brief introduction) Articles (what should it include based on what we

                                                    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                    change it)

                                                    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                    paper

                                                    TED Talk

                                                    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                    Closure

                                                    bullExplain two principles of the constitution and how are they connected

                                                    What is Economics

                                                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                    Important Parts of Economicsndash

                                                    CHOICESSCARCITY

                                                    Economics ishellip

                                                    bullDependent upon assumptions

                                                    bullDependent upon simplification of reality

                                                    Back to our assumptionshellip

                                                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                    bullAll sellers seek to maximize profits

                                                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                    For the videohellip

                                                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                    Post Videohellip

                                                    bullDefine the main idea of the video in 4-5 words

                                                    Advertisement

                                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                    3 images that represent different economic ideas

                                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                    1 slogan that represents why economics is an important course to take

                                                    Political Cartoon Analysis

                                                    Factors of Production bull LAND

                                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                    soil minerals water and plants

                                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                    into producing goodsservices

                                                    bull CAPITAL Includes tools machines buildings and

                                                    technologies

                                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                                    land labor and capital to produce goods and services

                                                    TASK

                                                    bullTask Why are entrepreneurs the driving force in our economy

                                                    bullAnswer in 2-3 sentences

                                                    The price ofhellip

                                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                    Economic efficiency is achieved when all available resources are being used

                                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                    1 What to produce

                                                    bullShould it be military or civilian goods

                                                    bullFood or clothingbullMedicine or movies

                                                    2 How to produce it

                                                    bullAutomated or manual labor

                                                    bullExpensive or cheap materials

                                                    bullDomestic or overseas labor

                                                    3 For whom to produce it

                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                    Application Activity

                                                    bull In groups of 2-3 create your own country (name it please)

                                                    bull With your countryrsquos name explain the Population geography and general population

                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                    withhellip Images representing what you produce and a

                                                    slogan for why your country is awesome

                                                    EQs

                                                    bullHow does scarcity impact decision making

                                                    Objectives amp Essential QuestionsbullObjectives

                                                    I will be able to create and reflect on a budget given new economics content

                                                    I will be able to understand scarcity and our mixed economy

                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                    Group Activity Budget Activity

                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                    How do we satisfy our economic wants

                                                    bull We buy goods or services

                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                    How do we make goods amp services

                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                    Production Equation

                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                    inputs output

                                                    Economic Interdependence

                                                    bullWhat does lsquointerdependencersquo mean

                                                    bullIs our world becoming economic interdependent or independent

                                                    bullEconomic Interdependence the actions of one part of the

                                                    country (world) has an impact on what happens elsewhere

                                                    Wants amp Needs gt

                                                    Resources

                                                    Because of scarcity we

                                                    have to make choices

                                                    How do we make a choice What do we give up

                                                    What does this remind you of from our government unit

                                                    Making Choices to Deal With Scarcity

                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                    decision over another

                                                    ExampleshellipbullSome choices are easy to makehellip

                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                    school today or should I sleep in

                                                    Task Reflecting on Personal Trade-offshellip

                                                    In the end what helped you decide amongst your choices

                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                    tradeoffs for that decision

                                                    Be prepared to share

                                                    Opportunity Cost

                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                    Opportunity Cost ndash The best thing we give up to get what

                                                    we want

                                                    What else influences your choices

                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                    FinallyhellipWhy it Matters

                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                    better decision-maker

                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                    You always have to give something uphelliprdquo

                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                    decisions

                                                    Visualizing the Relationshiphellip

                                                    Limited Resources amp Unlimited Wants

                                                    Scarcity

                                                    Trade-offs (choices)

                                                    Opportunity Costs

                                                    ObjectivesEssential Questions

                                                    bullObjectivebullI will be able to understand (and teach)

                                                    the three different types of economies

                                                    bullEssential Question How do the different types of economies work

                                                    How Can We Measure What We Gain and Lose When

                                                    Making Choices

                                                    Answer With a Production Possibilities Frontier

                                                    Production Possibilities Frontier

                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                    PPF Assumptions

                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                    Production Possibilities Curve

                                                    CD

                                                    E

                                                    OU

                                                    TP

                                                    UT

                                                    OF

                                                    CO

                                                    NS

                                                    UM

                                                    ER

                                                    GO

                                                    OD

                                                    S

                                                    (un

                                                    its

                                                    per

                                                    yea

                                                    r)

                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                    A

                                                    BO

                                                    XF

                                                    G

                                                    Limited resources necessitate choices about WHAT to produce

                                                    The Choices Nations Make

                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                    bullProduce military goods or consumer goods

                                                    Economic Growth

                                                    2000 production possibilities

                                                    1900 production possibilities

                                                    OU

                                                    TP

                                                    UT

                                                    OF

                                                    CO

                                                    NS

                                                    UM

                                                    ER

                                                    GO

                                                    OD

                                                    S(u

                                                    nits

                                                    per

                                                    yea

                                                    r)

                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                    Production possibilities increases with more resources and technology

                                                    The Classic Guns and Butter example

                                                    Guns

                                                    Butter

                                                    10000 20000 30000 40000 50000

                                                    1000009500085000

                                                    70000

                                                    5000040000

                                                    BA

                                                    C

                                                    D

                                                    E

                                                    F

                                                    At point A all resources are used for butter

                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                    At point F all resources are used for Guns

                                                    Productivitybull A PPF can help us see how efficient our

                                                    choices are

                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                    Locations on a PPF

                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                    Food

                                                    Computer

                                                    4

                                                    3

                                                    2

                                                    1

                                                    1 2 3 4

                                                    OC between 1 and 2 computers = 1 Food

                                                    UnitOC between 3 and 4 computers = 1 Food

                                                    Unit

                                                    Constantly giving up the same quantity of food to get

                                                    additional computers

                                                    STRAIGHT-LINE PPFs Constant OC

                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                    Principle of Increasing Costs

                                                    As a society produces more of one product the OC of producing

                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                    Economic Systems

                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                    Three Types of Economic Systems Command Traditional Market

                                                    Jigsaw activity

                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                    Economic amp Social Goals of an Economic System

                                                    bull Economic Freedom

                                                    bull Economic Efficiency

                                                    bull Economic Equity

                                                    bull Economic Security

                                                    Economic Stability

                                                    Economic Growth

                                                    Review of Economic Systems

                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                    What are the most important goals of each economic system

                                                    bullTraditionalSecurity and

                                                    StabilitybullCommand

                                                    Equity and Security

                                                    bullMARKETEfficiency and

                                                    Freedom

                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                    at the expense of another (TRADEOFFS)

                                                    Which economic system does the US use

                                                    The American Economic System

                                                    bullWe have a mixed market economy

                                                    COMMAND MARKET

                                                    The US mixed economybull In a mixed economyhellip

                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                    Think backhellip

                                                    bullWhat does this remind you of from the beginning of the unit

                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                    2 Limited government

                                                    3 Equal opportunity

                                                    4 Competition

                                                    5 Profit motive

                                                    6 Property Rights

                                                    7 Binding Contracts

                                                    Understanding how all parts fit together

                                                    Circular Flow of Economic Activity Represents a market economy

                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                    Shows interdependence between

                                                    businesses and individuals

                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                    bull Using what you have learned this unit and using the textbook

                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                    Do you remember

                                                    bullWrite the following question downbullWhy does the United States have a

                                                    democracy and mixed economy

                                                    • Foundations of Government and Economics
                                                    • On your blank piece of paperhellip
                                                    • Slide 3
                                                    • Warm-Up 1 - 9414
                                                    • Introductory thoughts hellip
                                                    • Slide 6
                                                    • 2 How about to your life
                                                    • Slide 8
                                                    • Slide 9
                                                    • Slide 10
                                                    • Slide 11
                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                    • Warm up 2bndash In Journal-
                                                    • Economist and Politician Assumptions
                                                    • Individualism
                                                    • Quote activity
                                                    • Quote breakdown
                                                    • Warm Up 3- Current Event 9814
                                                    • Purpose of Government
                                                    • Slide 20
                                                    • 3 Theorists
                                                    • Activity
                                                    • Origins of American Government A customized government
                                                    • Origins of American Government A customized government (2)
                                                    • Origins of American Government A customized government (3)
                                                    • With which theory do you agree more Why
                                                    • The ldquoOriginal Dilemmardquo
                                                    • Warm Up 5 Hobbes and Locke
                                                    • Groups Block 2
                                                    • Groups Block 4
                                                    • Balloon Game
                                                    • You will have 10 minutes to get as many filled balloons on the
                                                    • Balloon Game Debriefing
                                                    • Political Theories
                                                    • Social Contract
                                                    • Natural Rights
                                                    • Democracy
                                                    • Concepts of Government
                                                    • Warm up 6 ndash 91114
                                                    • Warm Up 7
                                                    • And after the Constitution
                                                    • Activity (2)
                                                    • Picture Activity
                                                    • Constitutional Convention
                                                    • Purpose of the Convention
                                                    • VA Plan v NJ Plan
                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                    • Your Task
                                                    • Closure
                                                    • States agree
                                                    • Quote
                                                    • Structure of Constitution
                                                    • Structure of Constitution
                                                    • 6 Purpose of Government
                                                    • Structure of Constitution (2)
                                                    • Structure of Constitution (3)
                                                    • Principles of Constitution
                                                    • Activity
                                                    • Slide 60
                                                    • Check for Understanding Six Principles
                                                    • Question 1
                                                    • Question 2
                                                    • Question 3
                                                    • Question 4
                                                    • Question 5
                                                    • Question 6
                                                    • Question 7
                                                    • Question 8
                                                    • Groups
                                                    • Separation of Powers
                                                    • Video
                                                    • Checks and Balances
                                                    • Slide 74
                                                    • Checks and balances
                                                    • Basic Principles
                                                    • Self- Worth
                                                    • Equality
                                                    • Compromise
                                                    • Individual Freedom
                                                    • Write your ownhellip
                                                    • Slide 82
                                                    • TED Talk
                                                    • Closure
                                                    • What is Economics
                                                    • Economics ishellip
                                                    • Back to our assumptionshellip
                                                    • Scarcity refers to the limited number of resources (factors of
                                                    • For the videohellip
                                                    • Slide 90
                                                    • Post Videohellip
                                                    • Advertisement
                                                    • Political Cartoon Analysis
                                                    • Factors of Production
                                                    • TASK
                                                    • The price ofhellip
                                                    • Economic efficiency is achieved when all available resources ar
                                                    • 1 What to produce
                                                    • 2 How to produce it
                                                    • 3 For whom to produce it
                                                    • Application Activity
                                                    • EQs
                                                    • Objectives amp Essential Questions
                                                    • Group Activity Budget Activity
                                                    • Slide 105
                                                    • How do we satisfy our economic wants
                                                    • How do we make goods amp services
                                                    • Economic Interdependence
                                                    • Slide 109
                                                    • Making Choices to Deal With Scarcity
                                                    • Exampleshellip
                                                    • Task Reflecting on Personal Trade-offshellip
                                                    • Opportunity Cost
                                                    • What else influences your choices
                                                    • Finallyhellip Why it Matters
                                                    • Visualizing the Relationshiphellip
                                                    • ObjectivesEssential Questions
                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                    • Production Possibilities Frontier
                                                    • PPF Assumptions
                                                    • Slide 121
                                                    • Production Possibilities Curve
                                                    • The Choices Nations Make
                                                    • Economic Growth
                                                    • The Classic Guns and Butter example
                                                    • Productivity
                                                    • Locations on a PPF
                                                    • Slide 128
                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                    • Economic Systems
                                                    • Jigsaw activity
                                                    • Slide 132
                                                    • Economic amp Social Goals of an Economic System
                                                    • Review of Economic Systems
                                                    • Slide 135
                                                    • What are the most important goals of each economic system
                                                    • Which economic system does the US use
                                                    • The American Economic System
                                                    • The US mixed economy
                                                    • Slide 140
                                                    • Think backhellip
                                                    • US Economic System Characteristics
                                                    • Slide 143
                                                    • Understanding how all parts fit together
                                                    • Marriage Vows
                                                    • Do you remember
                                                    • Slide 147

                                                      Warm Up 5 Hobbes and Locke

                                                      Hobbes

                                                      Locke

                                                      Draw a venn diagram like the one below and write in the similarities and differences of the two men as discussed

                                                      Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                                      Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                                      Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                                      Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                                      Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                                      Group 2JakeShawnKatieDrewWyattKatAshlyn

                                                      Group 3JennaCeatonJeffLivSteveGarciaTom

                                                      Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                                      Balloon Game Objective

                                                      To be the team with the most filled balloons taped into the square on the board Rules

                                                      1 No running 2 No touching classmates hellip that does

                                                      not mean you canrsquot touch their balloons hellip

                                                      3 No removal of balloons once they are taped to the board

                                                      You will have less than 5 minutes to come up with a strategy in your group

                                                      You will have 10 minutes to get as many filled balloons on the square as possible

                                                      End

                                                      >

                                                      Balloon Game Debriefing What type of behavior did you see during the

                                                      game

                                                      List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                                      Why do you think you needed more ldquorulesrdquo during

                                                      this game

                                                      How does this relate to this class How does it relate to the theorists

                                                      Political Theories

                                                      Force Theory small group forced

                                                      all to submit to person andor grouprsquos rule

                                                      Evolutionary Theory developed naturally out of the

                                                      evolution of the family

                                                      Divine Right held that God created the state

                                                      and God had given those of royal birth

                                                      ldquodivine rightrdquo to rule

                                                      Social Contract argues that state arose out of a

                                                      voluntary act of free people State exists only

                                                      to serve the will of the people

                                                      Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                      power to a government to protect them and serve their interests

                                                      bullFree to remove that power at any timebullGovernment can only create laws when it

                                                      has the consent of the governedbullExamples

                                                      Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                      cannot be taken away by any one (government)

                                                      bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                      bull Idea of consent derived from social contract theory

                                                      Democracybull A system of government in which in

                                                      theory the people rule either directly or indirectly

                                                      bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                      Concepts of Governmentbull Ordered governmentmdashneed for order

                                                      bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                      bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                      Warm up 6 ndash 91114

                                                      Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                      are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                      Warm Up 7

                                                      bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                      And after the ConstitutionFederalism vs Anti-Federalism

                                                      bullFederalists believed Favored ratification believed Constitution was

                                                      strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                      bullAnti-Federalists believed Opposed ratification believed Constitution

                                                      was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                      Activity

                                                      bullEach of you will get a card it either has a termperson or a definition on it

                                                      bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                      bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                      secret with your partner

                                                      Picture Activity

                                                      bullGallery Walk

                                                      Constitutional Convention

                                                      bullMet in Philadelphia in 1787

                                                      bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                      bullThese men were collectively known as ldquoThe Framersrdquo

                                                      Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                      Confederation bullDelegates quickly realized they were

                                                      meeting to create a new government (with 3 branches)

                                                      VA Plan v NJ Plan

                                                      Several plans were proposed to correct the weaknesses of the Articles

                                                      bullVirginia PlanbullNew Jersey Plan

                                                      Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                      Virginia Plan ldquoLarge State Planrdquo

                                                      bullStrong central govrsquotbullL Bicameral Congress

                                                      Representation based on population

                                                      bullE ldquoPresidentrdquo Chosen by Congress

                                                      bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                      New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                      Each state would have = representationExpand power to tax amp regulate trade

                                                      bullE Two-person presidencyChosen by Congress able to be removed

                                                      bullJ Single Supreme CourtChosen by Executive

                                                      Your Task

                                                      Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                      them to choose your planUse catchy phrasesslogans and be sure to

                                                      include the historical features of your plan (VA or NJ)

                                                      At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                      Closure

                                                      bullWhat do you think (or know) happens to these two plans

                                                      States agreebull States agree to (ratify) the Constitution

                                                      only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                      bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                      Quote

                                                      bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                      bullWhat words stick to you in this quote Why

                                                      Structure of Constitutionbull Provides basic

                                                      framework for US government

                                                      bull Outlines basic principles structure and processes

                                                      bull Three partsmdashPreambleArticlesAmendments

                                                      Structure of Constitution bull Preamble

                                                      Introduction to the Constitution Lists ideas that the government should stand for

                                                      and states purposes We the people of the United States in Order

                                                      to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                      6 Purpose of Government bull Form a More Perfect Union

                                                      bull Establish Justice bull Insure Domestic Tranquility

                                                      bull Provide for the Common Defense

                                                      bull Promote the General Welfare

                                                      bull Secure the Blessings of Liberty

                                                      For each phrase consider the followinghellip

                                                      1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                      2 Is this phrase important today

                                                      Structure of Constitution bullArticles

                                                      Main body of the Constitution Lay out basic structure of the national

                                                      governmentFurther broken down into sections and clauses

                                                      Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                      Clause oaths of office

                                                      Article VII Ratification

                                                      Structure of Constitution

                                                      bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                      Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                      bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                      Activity

                                                      Activity bull STEP 1 bull Fill in the graphic

                                                      organizer in your guided notes packet You have 8 minutes on your own to do this

                                                      bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                      Principle Explanation

                                                      Popular Sovereignty Idea that people are the source of all power held by the government

                                                      Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                      Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                      Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                      Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                      Federalism Divides the power between the central government and the States

                                                      Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                      Question 1

                                                      bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                      Popular Sovereignty

                                                      Question 2

                                                      bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                      Limited Government

                                                      Question 3

                                                      bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                      Limited Government

                                                      Question 4

                                                      bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                      SEPARATION OF POWERS

                                                      Question 5

                                                      bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                      Checks and Balances

                                                      Question 6

                                                      bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                      CHECKS AND BALANCES

                                                      Question 7

                                                      bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                      JUDICIAL REVIEW

                                                      Question 8

                                                      bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                      Federalism

                                                      GroupsPopular

                                                      SovereigntySeparation of

                                                      PowersFederalism

                                                      bull bull bull

                                                      Judicial Review

                                                      Limited Government

                                                      Checks and Balances

                                                      bull bull bull

                                                      Separation of Powers

                                                      bull Legislative branchmdashmakes the laws

                                                      bull Executive branchmdashenforces the laws

                                                      bull Judicial branchmdashinterprets the law

                                                      Video

                                                      bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                      Checks and Balances

                                                      Checks and balances

                                                      bullIn what was do the branches check on one another

                                                      bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                      Basic Principles

                                                      bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                      Self- Worth

                                                      bull A recognition of the fundamental worth of every person

                                                      bull The democratic process reflects the collective set of individuals who make up society

                                                      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                      Compromise

                                                      bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                      bullWhy is compromise important

                                                      Individual Freedombull Right of the

                                                      individual to be free as far as the freedom of all will allow

                                                      bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                      Write your ownhellipbull Now that you know what the foundations of

                                                      government arehellip Create your own Constitution (Or social contract)

                                                      What do you think is important to include What do you think could be taken out

                                                      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                      Preamble (brief introduction) Articles (what should it include based on what we

                                                      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                      change it)

                                                      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                      paper

                                                      TED Talk

                                                      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                      Closure

                                                      bullExplain two principles of the constitution and how are they connected

                                                      What is Economics

                                                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                      Important Parts of Economicsndash

                                                      CHOICESSCARCITY

                                                      Economics ishellip

                                                      bullDependent upon assumptions

                                                      bullDependent upon simplification of reality

                                                      Back to our assumptionshellip

                                                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                      bullAll sellers seek to maximize profits

                                                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                      For the videohellip

                                                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                      Post Videohellip

                                                      bullDefine the main idea of the video in 4-5 words

                                                      Advertisement

                                                      bullKnowing some of the basics about what economics is and why we study ithellip

                                                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                      3 images that represent different economic ideas

                                                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                      1 slogan that represents why economics is an important course to take

                                                      Political Cartoon Analysis

                                                      Factors of Production bull LAND

                                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                      soil minerals water and plants

                                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                      into producing goodsservices

                                                      bull CAPITAL Includes tools machines buildings and

                                                      technologies

                                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                                      land labor and capital to produce goods and services

                                                      TASK

                                                      bullTask Why are entrepreneurs the driving force in our economy

                                                      bullAnswer in 2-3 sentences

                                                      The price ofhellip

                                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                      Economic efficiency is achieved when all available resources are being used

                                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                      1 What to produce

                                                      bullShould it be military or civilian goods

                                                      bullFood or clothingbullMedicine or movies

                                                      2 How to produce it

                                                      bullAutomated or manual labor

                                                      bullExpensive or cheap materials

                                                      bullDomestic or overseas labor

                                                      3 For whom to produce it

                                                      bullThe wealthy or the needybullThe sick or the healthy

                                                      Application Activity

                                                      bull In groups of 2-3 create your own country (name it please)

                                                      bull With your countryrsquos name explain the Population geography and general population

                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                      withhellip Images representing what you produce and a

                                                      slogan for why your country is awesome

                                                      EQs

                                                      bullHow does scarcity impact decision making

                                                      Objectives amp Essential QuestionsbullObjectives

                                                      I will be able to create and reflect on a budget given new economics content

                                                      I will be able to understand scarcity and our mixed economy

                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                      Group Activity Budget Activity

                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                      How do we satisfy our economic wants

                                                      bull We buy goods or services

                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                      How do we make goods amp services

                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                      Production Equation

                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                      inputs output

                                                      Economic Interdependence

                                                      bullWhat does lsquointerdependencersquo mean

                                                      bullIs our world becoming economic interdependent or independent

                                                      bullEconomic Interdependence the actions of one part of the

                                                      country (world) has an impact on what happens elsewhere

                                                      Wants amp Needs gt

                                                      Resources

                                                      Because of scarcity we

                                                      have to make choices

                                                      How do we make a choice What do we give up

                                                      What does this remind you of from our government unit

                                                      Making Choices to Deal With Scarcity

                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                      decision over another

                                                      ExampleshellipbullSome choices are easy to makehellip

                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                      school today or should I sleep in

                                                      Task Reflecting on Personal Trade-offshellip

                                                      In the end what helped you decide amongst your choices

                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                      tradeoffs for that decision

                                                      Be prepared to share

                                                      Opportunity Cost

                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                      Opportunity Cost ndash The best thing we give up to get what

                                                      we want

                                                      What else influences your choices

                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                      FinallyhellipWhy it Matters

                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                      better decision-maker

                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                      You always have to give something uphelliprdquo

                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                      decisions

                                                      Visualizing the Relationshiphellip

                                                      Limited Resources amp Unlimited Wants

                                                      Scarcity

                                                      Trade-offs (choices)

                                                      Opportunity Costs

                                                      ObjectivesEssential Questions

                                                      bullObjectivebullI will be able to understand (and teach)

                                                      the three different types of economies

                                                      bullEssential Question How do the different types of economies work

                                                      How Can We Measure What We Gain and Lose When

                                                      Making Choices

                                                      Answer With a Production Possibilities Frontier

                                                      Production Possibilities Frontier

                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                      PPF Assumptions

                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                      Production Possibilities Curve

                                                      CD

                                                      E

                                                      OU

                                                      TP

                                                      UT

                                                      OF

                                                      CO

                                                      NS

                                                      UM

                                                      ER

                                                      GO

                                                      OD

                                                      S

                                                      (un

                                                      its

                                                      per

                                                      yea

                                                      r)

                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                      A

                                                      BO

                                                      XF

                                                      G

                                                      Limited resources necessitate choices about WHAT to produce

                                                      The Choices Nations Make

                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                      bullProduce military goods or consumer goods

                                                      Economic Growth

                                                      2000 production possibilities

                                                      1900 production possibilities

                                                      OU

                                                      TP

                                                      UT

                                                      OF

                                                      CO

                                                      NS

                                                      UM

                                                      ER

                                                      GO

                                                      OD

                                                      S(u

                                                      nits

                                                      per

                                                      yea

                                                      r)

                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                      Production possibilities increases with more resources and technology

                                                      The Classic Guns and Butter example

                                                      Guns

                                                      Butter

                                                      10000 20000 30000 40000 50000

                                                      1000009500085000

                                                      70000

                                                      5000040000

                                                      BA

                                                      C

                                                      D

                                                      E

                                                      F

                                                      At point A all resources are used for butter

                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                      At point F all resources are used for Guns

                                                      Productivitybull A PPF can help us see how efficient our

                                                      choices are

                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                      Locations on a PPF

                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                      Food

                                                      Computer

                                                      4

                                                      3

                                                      2

                                                      1

                                                      1 2 3 4

                                                      OC between 1 and 2 computers = 1 Food

                                                      UnitOC between 3 and 4 computers = 1 Food

                                                      Unit

                                                      Constantly giving up the same quantity of food to get

                                                      additional computers

                                                      STRAIGHT-LINE PPFs Constant OC

                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                      Principle of Increasing Costs

                                                      As a society produces more of one product the OC of producing

                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                      Economic Systems

                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                      Three Types of Economic Systems Command Traditional Market

                                                      Jigsaw activity

                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                      Economic amp Social Goals of an Economic System

                                                      bull Economic Freedom

                                                      bull Economic Efficiency

                                                      bull Economic Equity

                                                      bull Economic Security

                                                      Economic Stability

                                                      Economic Growth

                                                      Review of Economic Systems

                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                      What are the most important goals of each economic system

                                                      bullTraditionalSecurity and

                                                      StabilitybullCommand

                                                      Equity and Security

                                                      bullMARKETEfficiency and

                                                      Freedom

                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                      at the expense of another (TRADEOFFS)

                                                      Which economic system does the US use

                                                      The American Economic System

                                                      bullWe have a mixed market economy

                                                      COMMAND MARKET

                                                      The US mixed economybull In a mixed economyhellip

                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                      Think backhellip

                                                      bullWhat does this remind you of from the beginning of the unit

                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                      2 Limited government

                                                      3 Equal opportunity

                                                      4 Competition

                                                      5 Profit motive

                                                      6 Property Rights

                                                      7 Binding Contracts

                                                      Understanding how all parts fit together

                                                      Circular Flow of Economic Activity Represents a market economy

                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                      Shows interdependence between

                                                      businesses and individuals

                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                      bull Using what you have learned this unit and using the textbook

                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                      Do you remember

                                                      bullWrite the following question downbullWhy does the United States have a

                                                      democracy and mixed economy

                                                      • Foundations of Government and Economics
                                                      • On your blank piece of paperhellip
                                                      • Slide 3
                                                      • Warm-Up 1 - 9414
                                                      • Introductory thoughts hellip
                                                      • Slide 6
                                                      • 2 How about to your life
                                                      • Slide 8
                                                      • Slide 9
                                                      • Slide 10
                                                      • Slide 11
                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                      • Warm up 2bndash In Journal-
                                                      • Economist and Politician Assumptions
                                                      • Individualism
                                                      • Quote activity
                                                      • Quote breakdown
                                                      • Warm Up 3- Current Event 9814
                                                      • Purpose of Government
                                                      • Slide 20
                                                      • 3 Theorists
                                                      • Activity
                                                      • Origins of American Government A customized government
                                                      • Origins of American Government A customized government (2)
                                                      • Origins of American Government A customized government (3)
                                                      • With which theory do you agree more Why
                                                      • The ldquoOriginal Dilemmardquo
                                                      • Warm Up 5 Hobbes and Locke
                                                      • Groups Block 2
                                                      • Groups Block 4
                                                      • Balloon Game
                                                      • You will have 10 minutes to get as many filled balloons on the
                                                      • Balloon Game Debriefing
                                                      • Political Theories
                                                      • Social Contract
                                                      • Natural Rights
                                                      • Democracy
                                                      • Concepts of Government
                                                      • Warm up 6 ndash 91114
                                                      • Warm Up 7
                                                      • And after the Constitution
                                                      • Activity (2)
                                                      • Picture Activity
                                                      • Constitutional Convention
                                                      • Purpose of the Convention
                                                      • VA Plan v NJ Plan
                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                      • Your Task
                                                      • Closure
                                                      • States agree
                                                      • Quote
                                                      • Structure of Constitution
                                                      • Structure of Constitution
                                                      • 6 Purpose of Government
                                                      • Structure of Constitution (2)
                                                      • Structure of Constitution (3)
                                                      • Principles of Constitution
                                                      • Activity
                                                      • Slide 60
                                                      • Check for Understanding Six Principles
                                                      • Question 1
                                                      • Question 2
                                                      • Question 3
                                                      • Question 4
                                                      • Question 5
                                                      • Question 6
                                                      • Question 7
                                                      • Question 8
                                                      • Groups
                                                      • Separation of Powers
                                                      • Video
                                                      • Checks and Balances
                                                      • Slide 74
                                                      • Checks and balances
                                                      • Basic Principles
                                                      • Self- Worth
                                                      • Equality
                                                      • Compromise
                                                      • Individual Freedom
                                                      • Write your ownhellip
                                                      • Slide 82
                                                      • TED Talk
                                                      • Closure
                                                      • What is Economics
                                                      • Economics ishellip
                                                      • Back to our assumptionshellip
                                                      • Scarcity refers to the limited number of resources (factors of
                                                      • For the videohellip
                                                      • Slide 90
                                                      • Post Videohellip
                                                      • Advertisement
                                                      • Political Cartoon Analysis
                                                      • Factors of Production
                                                      • TASK
                                                      • The price ofhellip
                                                      • Economic efficiency is achieved when all available resources ar
                                                      • 1 What to produce
                                                      • 2 How to produce it
                                                      • 3 For whom to produce it
                                                      • Application Activity
                                                      • EQs
                                                      • Objectives amp Essential Questions
                                                      • Group Activity Budget Activity
                                                      • Slide 105
                                                      • How do we satisfy our economic wants
                                                      • How do we make goods amp services
                                                      • Economic Interdependence
                                                      • Slide 109
                                                      • Making Choices to Deal With Scarcity
                                                      • Exampleshellip
                                                      • Task Reflecting on Personal Trade-offshellip
                                                      • Opportunity Cost
                                                      • What else influences your choices
                                                      • Finallyhellip Why it Matters
                                                      • Visualizing the Relationshiphellip
                                                      • ObjectivesEssential Questions
                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                      • Production Possibilities Frontier
                                                      • PPF Assumptions
                                                      • Slide 121
                                                      • Production Possibilities Curve
                                                      • The Choices Nations Make
                                                      • Economic Growth
                                                      • The Classic Guns and Butter example
                                                      • Productivity
                                                      • Locations on a PPF
                                                      • Slide 128
                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                      • Economic Systems
                                                      • Jigsaw activity
                                                      • Slide 132
                                                      • Economic amp Social Goals of an Economic System
                                                      • Review of Economic Systems
                                                      • Slide 135
                                                      • What are the most important goals of each economic system
                                                      • Which economic system does the US use
                                                      • The American Economic System
                                                      • The US mixed economy
                                                      • Slide 140
                                                      • Think backhellip
                                                      • US Economic System Characteristics
                                                      • Slide 143
                                                      • Understanding how all parts fit together
                                                      • Marriage Vows
                                                      • Do you remember
                                                      • Slide 147

                                                        Groups Block 2Group 1Joe BKeeleyOwenMichael CathersJeffMichelleCasey

                                                        Group 2SheredanCassidyKimAllieMike DriverMelissaAustin

                                                        Group 3JasonShayneMikalaDaniAmandaMichael SNicoleta

                                                        Group 4Mike KingChris ConteKarlyRyanKatieDJ

                                                        Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                                        Group 2JakeShawnKatieDrewWyattKatAshlyn

                                                        Group 3JennaCeatonJeffLivSteveGarciaTom

                                                        Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                                        Balloon Game Objective

                                                        To be the team with the most filled balloons taped into the square on the board Rules

                                                        1 No running 2 No touching classmates hellip that does

                                                        not mean you canrsquot touch their balloons hellip

                                                        3 No removal of balloons once they are taped to the board

                                                        You will have less than 5 minutes to come up with a strategy in your group

                                                        You will have 10 minutes to get as many filled balloons on the square as possible

                                                        End

                                                        >

                                                        Balloon Game Debriefing What type of behavior did you see during the

                                                        game

                                                        List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                                        Why do you think you needed more ldquorulesrdquo during

                                                        this game

                                                        How does this relate to this class How does it relate to the theorists

                                                        Political Theories

                                                        Force Theory small group forced

                                                        all to submit to person andor grouprsquos rule

                                                        Evolutionary Theory developed naturally out of the

                                                        evolution of the family

                                                        Divine Right held that God created the state

                                                        and God had given those of royal birth

                                                        ldquodivine rightrdquo to rule

                                                        Social Contract argues that state arose out of a

                                                        voluntary act of free people State exists only

                                                        to serve the will of the people

                                                        Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                        power to a government to protect them and serve their interests

                                                        bullFree to remove that power at any timebullGovernment can only create laws when it

                                                        has the consent of the governedbullExamples

                                                        Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                        cannot be taken away by any one (government)

                                                        bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                        bull Idea of consent derived from social contract theory

                                                        Democracybull A system of government in which in

                                                        theory the people rule either directly or indirectly

                                                        bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                        Concepts of Governmentbull Ordered governmentmdashneed for order

                                                        bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                        bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                        Warm up 6 ndash 91114

                                                        Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                        are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                        Warm Up 7

                                                        bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                        And after the ConstitutionFederalism vs Anti-Federalism

                                                        bullFederalists believed Favored ratification believed Constitution was

                                                        strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                        bullAnti-Federalists believed Opposed ratification believed Constitution

                                                        was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                        Activity

                                                        bullEach of you will get a card it either has a termperson or a definition on it

                                                        bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                        bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                        secret with your partner

                                                        Picture Activity

                                                        bullGallery Walk

                                                        Constitutional Convention

                                                        bullMet in Philadelphia in 1787

                                                        bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                        bullThese men were collectively known as ldquoThe Framersrdquo

                                                        Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                        Confederation bullDelegates quickly realized they were

                                                        meeting to create a new government (with 3 branches)

                                                        VA Plan v NJ Plan

                                                        Several plans were proposed to correct the weaknesses of the Articles

                                                        bullVirginia PlanbullNew Jersey Plan

                                                        Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                        Virginia Plan ldquoLarge State Planrdquo

                                                        bullStrong central govrsquotbullL Bicameral Congress

                                                        Representation based on population

                                                        bullE ldquoPresidentrdquo Chosen by Congress

                                                        bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                        New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                        Each state would have = representationExpand power to tax amp regulate trade

                                                        bullE Two-person presidencyChosen by Congress able to be removed

                                                        bullJ Single Supreme CourtChosen by Executive

                                                        Your Task

                                                        Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                        them to choose your planUse catchy phrasesslogans and be sure to

                                                        include the historical features of your plan (VA or NJ)

                                                        At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                        Closure

                                                        bullWhat do you think (or know) happens to these two plans

                                                        States agreebull States agree to (ratify) the Constitution

                                                        only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                        bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                        Quote

                                                        bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                        bullWhat words stick to you in this quote Why

                                                        Structure of Constitutionbull Provides basic

                                                        framework for US government

                                                        bull Outlines basic principles structure and processes

                                                        bull Three partsmdashPreambleArticlesAmendments

                                                        Structure of Constitution bull Preamble

                                                        Introduction to the Constitution Lists ideas that the government should stand for

                                                        and states purposes We the people of the United States in Order

                                                        to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                        6 Purpose of Government bull Form a More Perfect Union

                                                        bull Establish Justice bull Insure Domestic Tranquility

                                                        bull Provide for the Common Defense

                                                        bull Promote the General Welfare

                                                        bull Secure the Blessings of Liberty

                                                        For each phrase consider the followinghellip

                                                        1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                        2 Is this phrase important today

                                                        Structure of Constitution bullArticles

                                                        Main body of the Constitution Lay out basic structure of the national

                                                        governmentFurther broken down into sections and clauses

                                                        Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                        Clause oaths of office

                                                        Article VII Ratification

                                                        Structure of Constitution

                                                        bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                        Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                        bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                        Activity

                                                        Activity bull STEP 1 bull Fill in the graphic

                                                        organizer in your guided notes packet You have 8 minutes on your own to do this

                                                        bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                        Principle Explanation

                                                        Popular Sovereignty Idea that people are the source of all power held by the government

                                                        Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                        Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                        Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                        Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                        Federalism Divides the power between the central government and the States

                                                        Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                        Question 1

                                                        bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                        Popular Sovereignty

                                                        Question 2

                                                        bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                        Limited Government

                                                        Question 3

                                                        bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                        Limited Government

                                                        Question 4

                                                        bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                        SEPARATION OF POWERS

                                                        Question 5

                                                        bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                        Checks and Balances

                                                        Question 6

                                                        bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                        CHECKS AND BALANCES

                                                        Question 7

                                                        bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                        JUDICIAL REVIEW

                                                        Question 8

                                                        bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                        Federalism

                                                        GroupsPopular

                                                        SovereigntySeparation of

                                                        PowersFederalism

                                                        bull bull bull

                                                        Judicial Review

                                                        Limited Government

                                                        Checks and Balances

                                                        bull bull bull

                                                        Separation of Powers

                                                        bull Legislative branchmdashmakes the laws

                                                        bull Executive branchmdashenforces the laws

                                                        bull Judicial branchmdashinterprets the law

                                                        Video

                                                        bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                        Checks and Balances

                                                        Checks and balances

                                                        bullIn what was do the branches check on one another

                                                        bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                        Basic Principles

                                                        bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                        Self- Worth

                                                        bull A recognition of the fundamental worth of every person

                                                        bull The democratic process reflects the collective set of individuals who make up society

                                                        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                        Compromise

                                                        bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                        bullWhy is compromise important

                                                        Individual Freedombull Right of the

                                                        individual to be free as far as the freedom of all will allow

                                                        bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                        Write your ownhellipbull Now that you know what the foundations of

                                                        government arehellip Create your own Constitution (Or social contract)

                                                        What do you think is important to include What do you think could be taken out

                                                        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                        Preamble (brief introduction) Articles (what should it include based on what we

                                                        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                        change it)

                                                        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                        paper

                                                        TED Talk

                                                        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                        Closure

                                                        bullExplain two principles of the constitution and how are they connected

                                                        What is Economics

                                                        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                        Important Parts of Economicsndash

                                                        CHOICESSCARCITY

                                                        Economics ishellip

                                                        bullDependent upon assumptions

                                                        bullDependent upon simplification of reality

                                                        Back to our assumptionshellip

                                                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                        bullAll sellers seek to maximize profits

                                                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                        For the videohellip

                                                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                        Post Videohellip

                                                        bullDefine the main idea of the video in 4-5 words

                                                        Advertisement

                                                        bullKnowing some of the basics about what economics is and why we study ithellip

                                                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                        3 images that represent different economic ideas

                                                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                        1 slogan that represents why economics is an important course to take

                                                        Political Cartoon Analysis

                                                        Factors of Production bull LAND

                                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                        soil minerals water and plants

                                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                        into producing goodsservices

                                                        bull CAPITAL Includes tools machines buildings and

                                                        technologies

                                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                                        land labor and capital to produce goods and services

                                                        TASK

                                                        bullTask Why are entrepreneurs the driving force in our economy

                                                        bullAnswer in 2-3 sentences

                                                        The price ofhellip

                                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                        Economic efficiency is achieved when all available resources are being used

                                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                        1 What to produce

                                                        bullShould it be military or civilian goods

                                                        bullFood or clothingbullMedicine or movies

                                                        2 How to produce it

                                                        bullAutomated or manual labor

                                                        bullExpensive or cheap materials

                                                        bullDomestic or overseas labor

                                                        3 For whom to produce it

                                                        bullThe wealthy or the needybullThe sick or the healthy

                                                        Application Activity

                                                        bull In groups of 2-3 create your own country (name it please)

                                                        bull With your countryrsquos name explain the Population geography and general population

                                                        information (iehellipbull Choose 5 items for your country to produce and

                                                        answer the three societal questions for eachALSO explain why this material would help your

                                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                                        withhellip Images representing what you produce and a

                                                        slogan for why your country is awesome

                                                        EQs

                                                        bullHow does scarcity impact decision making

                                                        Objectives amp Essential QuestionsbullObjectives

                                                        I will be able to create and reflect on a budget given new economics content

                                                        I will be able to understand scarcity and our mixed economy

                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                        Group Activity Budget Activity

                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                        How do we satisfy our economic wants

                                                        bull We buy goods or services

                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                        How do we make goods amp services

                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                        Production Equation

                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                        inputs output

                                                        Economic Interdependence

                                                        bullWhat does lsquointerdependencersquo mean

                                                        bullIs our world becoming economic interdependent or independent

                                                        bullEconomic Interdependence the actions of one part of the

                                                        country (world) has an impact on what happens elsewhere

                                                        Wants amp Needs gt

                                                        Resources

                                                        Because of scarcity we

                                                        have to make choices

                                                        How do we make a choice What do we give up

                                                        What does this remind you of from our government unit

                                                        Making Choices to Deal With Scarcity

                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                        decision over another

                                                        ExampleshellipbullSome choices are easy to makehellip

                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                        school today or should I sleep in

                                                        Task Reflecting on Personal Trade-offshellip

                                                        In the end what helped you decide amongst your choices

                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                        tradeoffs for that decision

                                                        Be prepared to share

                                                        Opportunity Cost

                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                        Opportunity Cost ndash The best thing we give up to get what

                                                        we want

                                                        What else influences your choices

                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                        FinallyhellipWhy it Matters

                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                        better decision-maker

                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                        You always have to give something uphelliprdquo

                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                        decisions

                                                        Visualizing the Relationshiphellip

                                                        Limited Resources amp Unlimited Wants

                                                        Scarcity

                                                        Trade-offs (choices)

                                                        Opportunity Costs

                                                        ObjectivesEssential Questions

                                                        bullObjectivebullI will be able to understand (and teach)

                                                        the three different types of economies

                                                        bullEssential Question How do the different types of economies work

                                                        How Can We Measure What We Gain and Lose When

                                                        Making Choices

                                                        Answer With a Production Possibilities Frontier

                                                        Production Possibilities Frontier

                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                        PPF Assumptions

                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                        Production Possibilities Curve

                                                        CD

                                                        E

                                                        OU

                                                        TP

                                                        UT

                                                        OF

                                                        CO

                                                        NS

                                                        UM

                                                        ER

                                                        GO

                                                        OD

                                                        S

                                                        (un

                                                        its

                                                        per

                                                        yea

                                                        r)

                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                        A

                                                        BO

                                                        XF

                                                        G

                                                        Limited resources necessitate choices about WHAT to produce

                                                        The Choices Nations Make

                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                        bullProduce military goods or consumer goods

                                                        Economic Growth

                                                        2000 production possibilities

                                                        1900 production possibilities

                                                        OU

                                                        TP

                                                        UT

                                                        OF

                                                        CO

                                                        NS

                                                        UM

                                                        ER

                                                        GO

                                                        OD

                                                        S(u

                                                        nits

                                                        per

                                                        yea

                                                        r)

                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                        Production possibilities increases with more resources and technology

                                                        The Classic Guns and Butter example

                                                        Guns

                                                        Butter

                                                        10000 20000 30000 40000 50000

                                                        1000009500085000

                                                        70000

                                                        5000040000

                                                        BA

                                                        C

                                                        D

                                                        E

                                                        F

                                                        At point A all resources are used for butter

                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                        At point F all resources are used for Guns

                                                        Productivitybull A PPF can help us see how efficient our

                                                        choices are

                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                        Locations on a PPF

                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                        Food

                                                        Computer

                                                        4

                                                        3

                                                        2

                                                        1

                                                        1 2 3 4

                                                        OC between 1 and 2 computers = 1 Food

                                                        UnitOC between 3 and 4 computers = 1 Food

                                                        Unit

                                                        Constantly giving up the same quantity of food to get

                                                        additional computers

                                                        STRAIGHT-LINE PPFs Constant OC

                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                        Principle of Increasing Costs

                                                        As a society produces more of one product the OC of producing

                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                        Economic Systems

                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                        Three Types of Economic Systems Command Traditional Market

                                                        Jigsaw activity

                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                        Economic amp Social Goals of an Economic System

                                                        bull Economic Freedom

                                                        bull Economic Efficiency

                                                        bull Economic Equity

                                                        bull Economic Security

                                                        Economic Stability

                                                        Economic Growth

                                                        Review of Economic Systems

                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                        What are the most important goals of each economic system

                                                        bullTraditionalSecurity and

                                                        StabilitybullCommand

                                                        Equity and Security

                                                        bullMARKETEfficiency and

                                                        Freedom

                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                        at the expense of another (TRADEOFFS)

                                                        Which economic system does the US use

                                                        The American Economic System

                                                        bullWe have a mixed market economy

                                                        COMMAND MARKET

                                                        The US mixed economybull In a mixed economyhellip

                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                        Think backhellip

                                                        bullWhat does this remind you of from the beginning of the unit

                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                        2 Limited government

                                                        3 Equal opportunity

                                                        4 Competition

                                                        5 Profit motive

                                                        6 Property Rights

                                                        7 Binding Contracts

                                                        Understanding how all parts fit together

                                                        Circular Flow of Economic Activity Represents a market economy

                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                        Shows interdependence between

                                                        businesses and individuals

                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                        bull Using what you have learned this unit and using the textbook

                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                        Do you remember

                                                        bullWrite the following question downbullWhy does the United States have a

                                                        democracy and mixed economy

                                                        • Foundations of Government and Economics
                                                        • On your blank piece of paperhellip
                                                        • Slide 3
                                                        • Warm-Up 1 - 9414
                                                        • Introductory thoughts hellip
                                                        • Slide 6
                                                        • 2 How about to your life
                                                        • Slide 8
                                                        • Slide 9
                                                        • Slide 10
                                                        • Slide 11
                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                        • Warm up 2bndash In Journal-
                                                        • Economist and Politician Assumptions
                                                        • Individualism
                                                        • Quote activity
                                                        • Quote breakdown
                                                        • Warm Up 3- Current Event 9814
                                                        • Purpose of Government
                                                        • Slide 20
                                                        • 3 Theorists
                                                        • Activity
                                                        • Origins of American Government A customized government
                                                        • Origins of American Government A customized government (2)
                                                        • Origins of American Government A customized government (3)
                                                        • With which theory do you agree more Why
                                                        • The ldquoOriginal Dilemmardquo
                                                        • Warm Up 5 Hobbes and Locke
                                                        • Groups Block 2
                                                        • Groups Block 4
                                                        • Balloon Game
                                                        • You will have 10 minutes to get as many filled balloons on the
                                                        • Balloon Game Debriefing
                                                        • Political Theories
                                                        • Social Contract
                                                        • Natural Rights
                                                        • Democracy
                                                        • Concepts of Government
                                                        • Warm up 6 ndash 91114
                                                        • Warm Up 7
                                                        • And after the Constitution
                                                        • Activity (2)
                                                        • Picture Activity
                                                        • Constitutional Convention
                                                        • Purpose of the Convention
                                                        • VA Plan v NJ Plan
                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                        • Your Task
                                                        • Closure
                                                        • States agree
                                                        • Quote
                                                        • Structure of Constitution
                                                        • Structure of Constitution
                                                        • 6 Purpose of Government
                                                        • Structure of Constitution (2)
                                                        • Structure of Constitution (3)
                                                        • Principles of Constitution
                                                        • Activity
                                                        • Slide 60
                                                        • Check for Understanding Six Principles
                                                        • Question 1
                                                        • Question 2
                                                        • Question 3
                                                        • Question 4
                                                        • Question 5
                                                        • Question 6
                                                        • Question 7
                                                        • Question 8
                                                        • Groups
                                                        • Separation of Powers
                                                        • Video
                                                        • Checks and Balances
                                                        • Slide 74
                                                        • Checks and balances
                                                        • Basic Principles
                                                        • Self- Worth
                                                        • Equality
                                                        • Compromise
                                                        • Individual Freedom
                                                        • Write your ownhellip
                                                        • Slide 82
                                                        • TED Talk
                                                        • Closure
                                                        • What is Economics
                                                        • Economics ishellip
                                                        • Back to our assumptionshellip
                                                        • Scarcity refers to the limited number of resources (factors of
                                                        • For the videohellip
                                                        • Slide 90
                                                        • Post Videohellip
                                                        • Advertisement
                                                        • Political Cartoon Analysis
                                                        • Factors of Production
                                                        • TASK
                                                        • The price ofhellip
                                                        • Economic efficiency is achieved when all available resources ar
                                                        • 1 What to produce
                                                        • 2 How to produce it
                                                        • 3 For whom to produce it
                                                        • Application Activity
                                                        • EQs
                                                        • Objectives amp Essential Questions
                                                        • Group Activity Budget Activity
                                                        • Slide 105
                                                        • How do we satisfy our economic wants
                                                        • How do we make goods amp services
                                                        • Economic Interdependence
                                                        • Slide 109
                                                        • Making Choices to Deal With Scarcity
                                                        • Exampleshellip
                                                        • Task Reflecting on Personal Trade-offshellip
                                                        • Opportunity Cost
                                                        • What else influences your choices
                                                        • Finallyhellip Why it Matters
                                                        • Visualizing the Relationshiphellip
                                                        • ObjectivesEssential Questions
                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                        • Production Possibilities Frontier
                                                        • PPF Assumptions
                                                        • Slide 121
                                                        • Production Possibilities Curve
                                                        • The Choices Nations Make
                                                        • Economic Growth
                                                        • The Classic Guns and Butter example
                                                        • Productivity
                                                        • Locations on a PPF
                                                        • Slide 128
                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                        • Economic Systems
                                                        • Jigsaw activity
                                                        • Slide 132
                                                        • Economic amp Social Goals of an Economic System
                                                        • Review of Economic Systems
                                                        • Slide 135
                                                        • What are the most important goals of each economic system
                                                        • Which economic system does the US use
                                                        • The American Economic System
                                                        • The US mixed economy
                                                        • Slide 140
                                                        • Think backhellip
                                                        • US Economic System Characteristics
                                                        • Slide 143
                                                        • Understanding how all parts fit together
                                                        • Marriage Vows
                                                        • Do you remember
                                                        • Slide 147

                                                          Groups Block 4Group 1Alex BNinaJasonCoreyTrystanBrianNick S

                                                          Group 2JakeShawnKatieDrewWyattKatAshlyn

                                                          Group 3JennaCeatonJeffLivSteveGarciaTom

                                                          Group 4SuzetteJulianneAlekDanScottSpenserNick R

                                                          Balloon Game Objective

                                                          To be the team with the most filled balloons taped into the square on the board Rules

                                                          1 No running 2 No touching classmates hellip that does

                                                          not mean you canrsquot touch their balloons hellip

                                                          3 No removal of balloons once they are taped to the board

                                                          You will have less than 5 minutes to come up with a strategy in your group

                                                          You will have 10 minutes to get as many filled balloons on the square as possible

                                                          End

                                                          >

                                                          Balloon Game Debriefing What type of behavior did you see during the

                                                          game

                                                          List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                                          Why do you think you needed more ldquorulesrdquo during

                                                          this game

                                                          How does this relate to this class How does it relate to the theorists

                                                          Political Theories

                                                          Force Theory small group forced

                                                          all to submit to person andor grouprsquos rule

                                                          Evolutionary Theory developed naturally out of the

                                                          evolution of the family

                                                          Divine Right held that God created the state

                                                          and God had given those of royal birth

                                                          ldquodivine rightrdquo to rule

                                                          Social Contract argues that state arose out of a

                                                          voluntary act of free people State exists only

                                                          to serve the will of the people

                                                          Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                          power to a government to protect them and serve their interests

                                                          bullFree to remove that power at any timebullGovernment can only create laws when it

                                                          has the consent of the governedbullExamples

                                                          Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                          cannot be taken away by any one (government)

                                                          bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                          bull Idea of consent derived from social contract theory

                                                          Democracybull A system of government in which in

                                                          theory the people rule either directly or indirectly

                                                          bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                          Concepts of Governmentbull Ordered governmentmdashneed for order

                                                          bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                          bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                          Warm up 6 ndash 91114

                                                          Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                          are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                          Warm Up 7

                                                          bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                          And after the ConstitutionFederalism vs Anti-Federalism

                                                          bullFederalists believed Favored ratification believed Constitution was

                                                          strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                          bullAnti-Federalists believed Opposed ratification believed Constitution

                                                          was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                          Activity

                                                          bullEach of you will get a card it either has a termperson or a definition on it

                                                          bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                          bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                          secret with your partner

                                                          Picture Activity

                                                          bullGallery Walk

                                                          Constitutional Convention

                                                          bullMet in Philadelphia in 1787

                                                          bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                          bullThese men were collectively known as ldquoThe Framersrdquo

                                                          Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                          Confederation bullDelegates quickly realized they were

                                                          meeting to create a new government (with 3 branches)

                                                          VA Plan v NJ Plan

                                                          Several plans were proposed to correct the weaknesses of the Articles

                                                          bullVirginia PlanbullNew Jersey Plan

                                                          Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                          Virginia Plan ldquoLarge State Planrdquo

                                                          bullStrong central govrsquotbullL Bicameral Congress

                                                          Representation based on population

                                                          bullE ldquoPresidentrdquo Chosen by Congress

                                                          bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                          New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                          Each state would have = representationExpand power to tax amp regulate trade

                                                          bullE Two-person presidencyChosen by Congress able to be removed

                                                          bullJ Single Supreme CourtChosen by Executive

                                                          Your Task

                                                          Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                          them to choose your planUse catchy phrasesslogans and be sure to

                                                          include the historical features of your plan (VA or NJ)

                                                          At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                          Closure

                                                          bullWhat do you think (or know) happens to these two plans

                                                          States agreebull States agree to (ratify) the Constitution

                                                          only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                          bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                          Quote

                                                          bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                          bullWhat words stick to you in this quote Why

                                                          Structure of Constitutionbull Provides basic

                                                          framework for US government

                                                          bull Outlines basic principles structure and processes

                                                          bull Three partsmdashPreambleArticlesAmendments

                                                          Structure of Constitution bull Preamble

                                                          Introduction to the Constitution Lists ideas that the government should stand for

                                                          and states purposes We the people of the United States in Order

                                                          to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                          6 Purpose of Government bull Form a More Perfect Union

                                                          bull Establish Justice bull Insure Domestic Tranquility

                                                          bull Provide for the Common Defense

                                                          bull Promote the General Welfare

                                                          bull Secure the Blessings of Liberty

                                                          For each phrase consider the followinghellip

                                                          1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                          2 Is this phrase important today

                                                          Structure of Constitution bullArticles

                                                          Main body of the Constitution Lay out basic structure of the national

                                                          governmentFurther broken down into sections and clauses

                                                          Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                          Clause oaths of office

                                                          Article VII Ratification

                                                          Structure of Constitution

                                                          bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                          Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                          bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                          Activity

                                                          Activity bull STEP 1 bull Fill in the graphic

                                                          organizer in your guided notes packet You have 8 minutes on your own to do this

                                                          bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                          Principle Explanation

                                                          Popular Sovereignty Idea that people are the source of all power held by the government

                                                          Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                          Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                          Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                          Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                          Federalism Divides the power between the central government and the States

                                                          Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                          Question 1

                                                          bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                          Popular Sovereignty

                                                          Question 2

                                                          bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                          Limited Government

                                                          Question 3

                                                          bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                          Limited Government

                                                          Question 4

                                                          bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                          SEPARATION OF POWERS

                                                          Question 5

                                                          bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                          Checks and Balances

                                                          Question 6

                                                          bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                          CHECKS AND BALANCES

                                                          Question 7

                                                          bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                          JUDICIAL REVIEW

                                                          Question 8

                                                          bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                          Federalism

                                                          GroupsPopular

                                                          SovereigntySeparation of

                                                          PowersFederalism

                                                          bull bull bull

                                                          Judicial Review

                                                          Limited Government

                                                          Checks and Balances

                                                          bull bull bull

                                                          Separation of Powers

                                                          bull Legislative branchmdashmakes the laws

                                                          bull Executive branchmdashenforces the laws

                                                          bull Judicial branchmdashinterprets the law

                                                          Video

                                                          bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                          Checks and Balances

                                                          Checks and balances

                                                          bullIn what was do the branches check on one another

                                                          bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                          Basic Principles

                                                          bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                          Self- Worth

                                                          bull A recognition of the fundamental worth of every person

                                                          bull The democratic process reflects the collective set of individuals who make up society

                                                          Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                          bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                          bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                          Compromise

                                                          bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                          bullWhy is compromise important

                                                          Individual Freedombull Right of the

                                                          individual to be free as far as the freedom of all will allow

                                                          bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                          Write your ownhellipbull Now that you know what the foundations of

                                                          government arehellip Create your own Constitution (Or social contract)

                                                          What do you think is important to include What do you think could be taken out

                                                          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                          Preamble (brief introduction) Articles (what should it include based on what we

                                                          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                          change it)

                                                          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                          paper

                                                          TED Talk

                                                          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                          Closure

                                                          bullExplain two principles of the constitution and how are they connected

                                                          What is Economics

                                                          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                          Important Parts of Economicsndash

                                                          CHOICESSCARCITY

                                                          Economics ishellip

                                                          bullDependent upon assumptions

                                                          bullDependent upon simplification of reality

                                                          Back to our assumptionshellip

                                                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                          bullAll sellers seek to maximize profits

                                                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                          For the videohellip

                                                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                          Post Videohellip

                                                          bullDefine the main idea of the video in 4-5 words

                                                          Advertisement

                                                          bullKnowing some of the basics about what economics is and why we study ithellip

                                                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                          3 images that represent different economic ideas

                                                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                          1 slogan that represents why economics is an important course to take

                                                          Political Cartoon Analysis

                                                          Factors of Production bull LAND

                                                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                          soil minerals water and plants

                                                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                          into producing goodsservices

                                                          bull CAPITAL Includes tools machines buildings and

                                                          technologies

                                                          bull ENTREPRENEUR Risk taker who is responsible for combining

                                                          land labor and capital to produce goods and services

                                                          TASK

                                                          bullTask Why are entrepreneurs the driving force in our economy

                                                          bullAnswer in 2-3 sentences

                                                          The price ofhellip

                                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                          Economic efficiency is achieved when all available resources are being used

                                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                          1 What to produce

                                                          bullShould it be military or civilian goods

                                                          bullFood or clothingbullMedicine or movies

                                                          2 How to produce it

                                                          bullAutomated or manual labor

                                                          bullExpensive or cheap materials

                                                          bullDomestic or overseas labor

                                                          3 For whom to produce it

                                                          bullThe wealthy or the needybullThe sick or the healthy

                                                          Application Activity

                                                          bull In groups of 2-3 create your own country (name it please)

                                                          bull With your countryrsquos name explain the Population geography and general population

                                                          information (iehellipbull Choose 5 items for your country to produce and

                                                          answer the three societal questions for eachALSO explain why this material would help your

                                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                                          withhellip Images representing what you produce and a

                                                          slogan for why your country is awesome

                                                          EQs

                                                          bullHow does scarcity impact decision making

                                                          Objectives amp Essential QuestionsbullObjectives

                                                          I will be able to create and reflect on a budget given new economics content

                                                          I will be able to understand scarcity and our mixed economy

                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                          Group Activity Budget Activity

                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                          How do we satisfy our economic wants

                                                          bull We buy goods or services

                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                          How do we make goods amp services

                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                          Production Equation

                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                          inputs output

                                                          Economic Interdependence

                                                          bullWhat does lsquointerdependencersquo mean

                                                          bullIs our world becoming economic interdependent or independent

                                                          bullEconomic Interdependence the actions of one part of the

                                                          country (world) has an impact on what happens elsewhere

                                                          Wants amp Needs gt

                                                          Resources

                                                          Because of scarcity we

                                                          have to make choices

                                                          How do we make a choice What do we give up

                                                          What does this remind you of from our government unit

                                                          Making Choices to Deal With Scarcity

                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                          decision over another

                                                          ExampleshellipbullSome choices are easy to makehellip

                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                          school today or should I sleep in

                                                          Task Reflecting on Personal Trade-offshellip

                                                          In the end what helped you decide amongst your choices

                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                          tradeoffs for that decision

                                                          Be prepared to share

                                                          Opportunity Cost

                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                          Opportunity Cost ndash The best thing we give up to get what

                                                          we want

                                                          What else influences your choices

                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                          FinallyhellipWhy it Matters

                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                          better decision-maker

                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                          You always have to give something uphelliprdquo

                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                          decisions

                                                          Visualizing the Relationshiphellip

                                                          Limited Resources amp Unlimited Wants

                                                          Scarcity

                                                          Trade-offs (choices)

                                                          Opportunity Costs

                                                          ObjectivesEssential Questions

                                                          bullObjectivebullI will be able to understand (and teach)

                                                          the three different types of economies

                                                          bullEssential Question How do the different types of economies work

                                                          How Can We Measure What We Gain and Lose When

                                                          Making Choices

                                                          Answer With a Production Possibilities Frontier

                                                          Production Possibilities Frontier

                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                          PPF Assumptions

                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                          Production Possibilities Curve

                                                          CD

                                                          E

                                                          OU

                                                          TP

                                                          UT

                                                          OF

                                                          CO

                                                          NS

                                                          UM

                                                          ER

                                                          GO

                                                          OD

                                                          S

                                                          (un

                                                          its

                                                          per

                                                          yea

                                                          r)

                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                          A

                                                          BO

                                                          XF

                                                          G

                                                          Limited resources necessitate choices about WHAT to produce

                                                          The Choices Nations Make

                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                          bullProduce military goods or consumer goods

                                                          Economic Growth

                                                          2000 production possibilities

                                                          1900 production possibilities

                                                          OU

                                                          TP

                                                          UT

                                                          OF

                                                          CO

                                                          NS

                                                          UM

                                                          ER

                                                          GO

                                                          OD

                                                          S(u

                                                          nits

                                                          per

                                                          yea

                                                          r)

                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                          Production possibilities increases with more resources and technology

                                                          The Classic Guns and Butter example

                                                          Guns

                                                          Butter

                                                          10000 20000 30000 40000 50000

                                                          1000009500085000

                                                          70000

                                                          5000040000

                                                          BA

                                                          C

                                                          D

                                                          E

                                                          F

                                                          At point A all resources are used for butter

                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                          At point F all resources are used for Guns

                                                          Productivitybull A PPF can help us see how efficient our

                                                          choices are

                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                          Locations on a PPF

                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                          Food

                                                          Computer

                                                          4

                                                          3

                                                          2

                                                          1

                                                          1 2 3 4

                                                          OC between 1 and 2 computers = 1 Food

                                                          UnitOC between 3 and 4 computers = 1 Food

                                                          Unit

                                                          Constantly giving up the same quantity of food to get

                                                          additional computers

                                                          STRAIGHT-LINE PPFs Constant OC

                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                          Principle of Increasing Costs

                                                          As a society produces more of one product the OC of producing

                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                          Economic Systems

                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                          Three Types of Economic Systems Command Traditional Market

                                                          Jigsaw activity

                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                          Economic amp Social Goals of an Economic System

                                                          bull Economic Freedom

                                                          bull Economic Efficiency

                                                          bull Economic Equity

                                                          bull Economic Security

                                                          Economic Stability

                                                          Economic Growth

                                                          Review of Economic Systems

                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                          What are the most important goals of each economic system

                                                          bullTraditionalSecurity and

                                                          StabilitybullCommand

                                                          Equity and Security

                                                          bullMARKETEfficiency and

                                                          Freedom

                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                          at the expense of another (TRADEOFFS)

                                                          Which economic system does the US use

                                                          The American Economic System

                                                          bullWe have a mixed market economy

                                                          COMMAND MARKET

                                                          The US mixed economybull In a mixed economyhellip

                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                          Think backhellip

                                                          bullWhat does this remind you of from the beginning of the unit

                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                          2 Limited government

                                                          3 Equal opportunity

                                                          4 Competition

                                                          5 Profit motive

                                                          6 Property Rights

                                                          7 Binding Contracts

                                                          Understanding how all parts fit together

                                                          Circular Flow of Economic Activity Represents a market economy

                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                          Shows interdependence between

                                                          businesses and individuals

                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                          bull Using what you have learned this unit and using the textbook

                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                          Do you remember

                                                          bullWrite the following question downbullWhy does the United States have a

                                                          democracy and mixed economy

                                                          • Foundations of Government and Economics
                                                          • On your blank piece of paperhellip
                                                          • Slide 3
                                                          • Warm-Up 1 - 9414
                                                          • Introductory thoughts hellip
                                                          • Slide 6
                                                          • 2 How about to your life
                                                          • Slide 8
                                                          • Slide 9
                                                          • Slide 10
                                                          • Slide 11
                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                          • Warm up 2bndash In Journal-
                                                          • Economist and Politician Assumptions
                                                          • Individualism
                                                          • Quote activity
                                                          • Quote breakdown
                                                          • Warm Up 3- Current Event 9814
                                                          • Purpose of Government
                                                          • Slide 20
                                                          • 3 Theorists
                                                          • Activity
                                                          • Origins of American Government A customized government
                                                          • Origins of American Government A customized government (2)
                                                          • Origins of American Government A customized government (3)
                                                          • With which theory do you agree more Why
                                                          • The ldquoOriginal Dilemmardquo
                                                          • Warm Up 5 Hobbes and Locke
                                                          • Groups Block 2
                                                          • Groups Block 4
                                                          • Balloon Game
                                                          • You will have 10 minutes to get as many filled balloons on the
                                                          • Balloon Game Debriefing
                                                          • Political Theories
                                                          • Social Contract
                                                          • Natural Rights
                                                          • Democracy
                                                          • Concepts of Government
                                                          • Warm up 6 ndash 91114
                                                          • Warm Up 7
                                                          • And after the Constitution
                                                          • Activity (2)
                                                          • Picture Activity
                                                          • Constitutional Convention
                                                          • Purpose of the Convention
                                                          • VA Plan v NJ Plan
                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                          • Your Task
                                                          • Closure
                                                          • States agree
                                                          • Quote
                                                          • Structure of Constitution
                                                          • Structure of Constitution
                                                          • 6 Purpose of Government
                                                          • Structure of Constitution (2)
                                                          • Structure of Constitution (3)
                                                          • Principles of Constitution
                                                          • Activity
                                                          • Slide 60
                                                          • Check for Understanding Six Principles
                                                          • Question 1
                                                          • Question 2
                                                          • Question 3
                                                          • Question 4
                                                          • Question 5
                                                          • Question 6
                                                          • Question 7
                                                          • Question 8
                                                          • Groups
                                                          • Separation of Powers
                                                          • Video
                                                          • Checks and Balances
                                                          • Slide 74
                                                          • Checks and balances
                                                          • Basic Principles
                                                          • Self- Worth
                                                          • Equality
                                                          • Compromise
                                                          • Individual Freedom
                                                          • Write your ownhellip
                                                          • Slide 82
                                                          • TED Talk
                                                          • Closure
                                                          • What is Economics
                                                          • Economics ishellip
                                                          • Back to our assumptionshellip
                                                          • Scarcity refers to the limited number of resources (factors of
                                                          • For the videohellip
                                                          • Slide 90
                                                          • Post Videohellip
                                                          • Advertisement
                                                          • Political Cartoon Analysis
                                                          • Factors of Production
                                                          • TASK
                                                          • The price ofhellip
                                                          • Economic efficiency is achieved when all available resources ar
                                                          • 1 What to produce
                                                          • 2 How to produce it
                                                          • 3 For whom to produce it
                                                          • Application Activity
                                                          • EQs
                                                          • Objectives amp Essential Questions
                                                          • Group Activity Budget Activity
                                                          • Slide 105
                                                          • How do we satisfy our economic wants
                                                          • How do we make goods amp services
                                                          • Economic Interdependence
                                                          • Slide 109
                                                          • Making Choices to Deal With Scarcity
                                                          • Exampleshellip
                                                          • Task Reflecting on Personal Trade-offshellip
                                                          • Opportunity Cost
                                                          • What else influences your choices
                                                          • Finallyhellip Why it Matters
                                                          • Visualizing the Relationshiphellip
                                                          • ObjectivesEssential Questions
                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                          • Production Possibilities Frontier
                                                          • PPF Assumptions
                                                          • Slide 121
                                                          • Production Possibilities Curve
                                                          • The Choices Nations Make
                                                          • Economic Growth
                                                          • The Classic Guns and Butter example
                                                          • Productivity
                                                          • Locations on a PPF
                                                          • Slide 128
                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                          • Economic Systems
                                                          • Jigsaw activity
                                                          • Slide 132
                                                          • Economic amp Social Goals of an Economic System
                                                          • Review of Economic Systems
                                                          • Slide 135
                                                          • What are the most important goals of each economic system
                                                          • Which economic system does the US use
                                                          • The American Economic System
                                                          • The US mixed economy
                                                          • Slide 140
                                                          • Think backhellip
                                                          • US Economic System Characteristics
                                                          • Slide 143
                                                          • Understanding how all parts fit together
                                                          • Marriage Vows
                                                          • Do you remember
                                                          • Slide 147

                                                            Balloon Game Objective

                                                            To be the team with the most filled balloons taped into the square on the board Rules

                                                            1 No running 2 No touching classmates hellip that does

                                                            not mean you canrsquot touch their balloons hellip

                                                            3 No removal of balloons once they are taped to the board

                                                            You will have less than 5 minutes to come up with a strategy in your group

                                                            You will have 10 minutes to get as many filled balloons on the square as possible

                                                            End

                                                            >

                                                            Balloon Game Debriefing What type of behavior did you see during the

                                                            game

                                                            List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                                            Why do you think you needed more ldquorulesrdquo during

                                                            this game

                                                            How does this relate to this class How does it relate to the theorists

                                                            Political Theories

                                                            Force Theory small group forced

                                                            all to submit to person andor grouprsquos rule

                                                            Evolutionary Theory developed naturally out of the

                                                            evolution of the family

                                                            Divine Right held that God created the state

                                                            and God had given those of royal birth

                                                            ldquodivine rightrdquo to rule

                                                            Social Contract argues that state arose out of a

                                                            voluntary act of free people State exists only

                                                            to serve the will of the people

                                                            Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                            power to a government to protect them and serve their interests

                                                            bullFree to remove that power at any timebullGovernment can only create laws when it

                                                            has the consent of the governedbullExamples

                                                            Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                            cannot be taken away by any one (government)

                                                            bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                            bull Idea of consent derived from social contract theory

                                                            Democracybull A system of government in which in

                                                            theory the people rule either directly or indirectly

                                                            bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                            Concepts of Governmentbull Ordered governmentmdashneed for order

                                                            bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                            bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                            Warm up 6 ndash 91114

                                                            Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                            are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                            Warm Up 7

                                                            bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                            And after the ConstitutionFederalism vs Anti-Federalism

                                                            bullFederalists believed Favored ratification believed Constitution was

                                                            strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                            bullAnti-Federalists believed Opposed ratification believed Constitution

                                                            was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                            Activity

                                                            bullEach of you will get a card it either has a termperson or a definition on it

                                                            bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                            bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                            secret with your partner

                                                            Picture Activity

                                                            bullGallery Walk

                                                            Constitutional Convention

                                                            bullMet in Philadelphia in 1787

                                                            bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                            bullThese men were collectively known as ldquoThe Framersrdquo

                                                            Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                            Confederation bullDelegates quickly realized they were

                                                            meeting to create a new government (with 3 branches)

                                                            VA Plan v NJ Plan

                                                            Several plans were proposed to correct the weaknesses of the Articles

                                                            bullVirginia PlanbullNew Jersey Plan

                                                            Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                            Virginia Plan ldquoLarge State Planrdquo

                                                            bullStrong central govrsquotbullL Bicameral Congress

                                                            Representation based on population

                                                            bullE ldquoPresidentrdquo Chosen by Congress

                                                            bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                            New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                            Each state would have = representationExpand power to tax amp regulate trade

                                                            bullE Two-person presidencyChosen by Congress able to be removed

                                                            bullJ Single Supreme CourtChosen by Executive

                                                            Your Task

                                                            Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                            them to choose your planUse catchy phrasesslogans and be sure to

                                                            include the historical features of your plan (VA or NJ)

                                                            At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                            Closure

                                                            bullWhat do you think (or know) happens to these two plans

                                                            States agreebull States agree to (ratify) the Constitution

                                                            only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                            bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                            Quote

                                                            bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                            bullWhat words stick to you in this quote Why

                                                            Structure of Constitutionbull Provides basic

                                                            framework for US government

                                                            bull Outlines basic principles structure and processes

                                                            bull Three partsmdashPreambleArticlesAmendments

                                                            Structure of Constitution bull Preamble

                                                            Introduction to the Constitution Lists ideas that the government should stand for

                                                            and states purposes We the people of the United States in Order

                                                            to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                            6 Purpose of Government bull Form a More Perfect Union

                                                            bull Establish Justice bull Insure Domestic Tranquility

                                                            bull Provide for the Common Defense

                                                            bull Promote the General Welfare

                                                            bull Secure the Blessings of Liberty

                                                            For each phrase consider the followinghellip

                                                            1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                            2 Is this phrase important today

                                                            Structure of Constitution bullArticles

                                                            Main body of the Constitution Lay out basic structure of the national

                                                            governmentFurther broken down into sections and clauses

                                                            Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                            Clause oaths of office

                                                            Article VII Ratification

                                                            Structure of Constitution

                                                            bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                            Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                            bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                            Activity

                                                            Activity bull STEP 1 bull Fill in the graphic

                                                            organizer in your guided notes packet You have 8 minutes on your own to do this

                                                            bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                            Principle Explanation

                                                            Popular Sovereignty Idea that people are the source of all power held by the government

                                                            Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                            Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                            Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                            Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                            Federalism Divides the power between the central government and the States

                                                            Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                            Question 1

                                                            bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                            Popular Sovereignty

                                                            Question 2

                                                            bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                            Limited Government

                                                            Question 3

                                                            bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                            Limited Government

                                                            Question 4

                                                            bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                            SEPARATION OF POWERS

                                                            Question 5

                                                            bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                            Checks and Balances

                                                            Question 6

                                                            bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                            CHECKS AND BALANCES

                                                            Question 7

                                                            bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                            JUDICIAL REVIEW

                                                            Question 8

                                                            bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                            Federalism

                                                            GroupsPopular

                                                            SovereigntySeparation of

                                                            PowersFederalism

                                                            bull bull bull

                                                            Judicial Review

                                                            Limited Government

                                                            Checks and Balances

                                                            bull bull bull

                                                            Separation of Powers

                                                            bull Legislative branchmdashmakes the laws

                                                            bull Executive branchmdashenforces the laws

                                                            bull Judicial branchmdashinterprets the law

                                                            Video

                                                            bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                            Checks and Balances

                                                            Checks and balances

                                                            bullIn what was do the branches check on one another

                                                            bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                            Basic Principles

                                                            bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                            Self- Worth

                                                            bull A recognition of the fundamental worth of every person

                                                            bull The democratic process reflects the collective set of individuals who make up society

                                                            Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                            bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                            bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                            Compromise

                                                            bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                            bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                            bullWhy is compromise important

                                                            Individual Freedombull Right of the

                                                            individual to be free as far as the freedom of all will allow

                                                            bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                            Write your ownhellipbull Now that you know what the foundations of

                                                            government arehellip Create your own Constitution (Or social contract)

                                                            What do you think is important to include What do you think could be taken out

                                                            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                            Preamble (brief introduction) Articles (what should it include based on what we

                                                            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                            change it)

                                                            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                            paper

                                                            TED Talk

                                                            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                            Closure

                                                            bullExplain two principles of the constitution and how are they connected

                                                            What is Economics

                                                            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                            Important Parts of Economicsndash

                                                            CHOICESSCARCITY

                                                            Economics ishellip

                                                            bullDependent upon assumptions

                                                            bullDependent upon simplification of reality

                                                            Back to our assumptionshellip

                                                            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                            bullAll sellers seek to maximize profits

                                                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                            For the videohellip

                                                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                            Post Videohellip

                                                            bullDefine the main idea of the video in 4-5 words

                                                            Advertisement

                                                            bullKnowing some of the basics about what economics is and why we study ithellip

                                                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                            3 images that represent different economic ideas

                                                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                            1 slogan that represents why economics is an important course to take

                                                            Political Cartoon Analysis

                                                            Factors of Production bull LAND

                                                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                            soil minerals water and plants

                                                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                            into producing goodsservices

                                                            bull CAPITAL Includes tools machines buildings and

                                                            technologies

                                                            bull ENTREPRENEUR Risk taker who is responsible for combining

                                                            land labor and capital to produce goods and services

                                                            TASK

                                                            bullTask Why are entrepreneurs the driving force in our economy

                                                            bullAnswer in 2-3 sentences

                                                            The price ofhellip

                                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                            Economic efficiency is achieved when all available resources are being used

                                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                            1 What to produce

                                                            bullShould it be military or civilian goods

                                                            bullFood or clothingbullMedicine or movies

                                                            2 How to produce it

                                                            bullAutomated or manual labor

                                                            bullExpensive or cheap materials

                                                            bullDomestic or overseas labor

                                                            3 For whom to produce it

                                                            bullThe wealthy or the needybullThe sick or the healthy

                                                            Application Activity

                                                            bull In groups of 2-3 create your own country (name it please)

                                                            bull With your countryrsquos name explain the Population geography and general population

                                                            information (iehellipbull Choose 5 items for your country to produce and

                                                            answer the three societal questions for eachALSO explain why this material would help your

                                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                                            withhellip Images representing what you produce and a

                                                            slogan for why your country is awesome

                                                            EQs

                                                            bullHow does scarcity impact decision making

                                                            Objectives amp Essential QuestionsbullObjectives

                                                            I will be able to create and reflect on a budget given new economics content

                                                            I will be able to understand scarcity and our mixed economy

                                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                            Group Activity Budget Activity

                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                            How do we satisfy our economic wants

                                                            bull We buy goods or services

                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                            How do we make goods amp services

                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                            Production Equation

                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                            inputs output

                                                            Economic Interdependence

                                                            bullWhat does lsquointerdependencersquo mean

                                                            bullIs our world becoming economic interdependent or independent

                                                            bullEconomic Interdependence the actions of one part of the

                                                            country (world) has an impact on what happens elsewhere

                                                            Wants amp Needs gt

                                                            Resources

                                                            Because of scarcity we

                                                            have to make choices

                                                            How do we make a choice What do we give up

                                                            What does this remind you of from our government unit

                                                            Making Choices to Deal With Scarcity

                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                            decision over another

                                                            ExampleshellipbullSome choices are easy to makehellip

                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                            school today or should I sleep in

                                                            Task Reflecting on Personal Trade-offshellip

                                                            In the end what helped you decide amongst your choices

                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                            tradeoffs for that decision

                                                            Be prepared to share

                                                            Opportunity Cost

                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                            Opportunity Cost ndash The best thing we give up to get what

                                                            we want

                                                            What else influences your choices

                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                            FinallyhellipWhy it Matters

                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                            better decision-maker

                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                            You always have to give something uphelliprdquo

                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                            decisions

                                                            Visualizing the Relationshiphellip

                                                            Limited Resources amp Unlimited Wants

                                                            Scarcity

                                                            Trade-offs (choices)

                                                            Opportunity Costs

                                                            ObjectivesEssential Questions

                                                            bullObjectivebullI will be able to understand (and teach)

                                                            the three different types of economies

                                                            bullEssential Question How do the different types of economies work

                                                            How Can We Measure What We Gain and Lose When

                                                            Making Choices

                                                            Answer With a Production Possibilities Frontier

                                                            Production Possibilities Frontier

                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                            PPF Assumptions

                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                            Production Possibilities Curve

                                                            CD

                                                            E

                                                            OU

                                                            TP

                                                            UT

                                                            OF

                                                            CO

                                                            NS

                                                            UM

                                                            ER

                                                            GO

                                                            OD

                                                            S

                                                            (un

                                                            its

                                                            per

                                                            yea

                                                            r)

                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                            A

                                                            BO

                                                            XF

                                                            G

                                                            Limited resources necessitate choices about WHAT to produce

                                                            The Choices Nations Make

                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                            bullProduce military goods or consumer goods

                                                            Economic Growth

                                                            2000 production possibilities

                                                            1900 production possibilities

                                                            OU

                                                            TP

                                                            UT

                                                            OF

                                                            CO

                                                            NS

                                                            UM

                                                            ER

                                                            GO

                                                            OD

                                                            S(u

                                                            nits

                                                            per

                                                            yea

                                                            r)

                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                            Production possibilities increases with more resources and technology

                                                            The Classic Guns and Butter example

                                                            Guns

                                                            Butter

                                                            10000 20000 30000 40000 50000

                                                            1000009500085000

                                                            70000

                                                            5000040000

                                                            BA

                                                            C

                                                            D

                                                            E

                                                            F

                                                            At point A all resources are used for butter

                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                            At point F all resources are used for Guns

                                                            Productivitybull A PPF can help us see how efficient our

                                                            choices are

                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                            Locations on a PPF

                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                            Food

                                                            Computer

                                                            4

                                                            3

                                                            2

                                                            1

                                                            1 2 3 4

                                                            OC between 1 and 2 computers = 1 Food

                                                            UnitOC between 3 and 4 computers = 1 Food

                                                            Unit

                                                            Constantly giving up the same quantity of food to get

                                                            additional computers

                                                            STRAIGHT-LINE PPFs Constant OC

                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                            Principle of Increasing Costs

                                                            As a society produces more of one product the OC of producing

                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                            Economic Systems

                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                            Three Types of Economic Systems Command Traditional Market

                                                            Jigsaw activity

                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                            Economic amp Social Goals of an Economic System

                                                            bull Economic Freedom

                                                            bull Economic Efficiency

                                                            bull Economic Equity

                                                            bull Economic Security

                                                            Economic Stability

                                                            Economic Growth

                                                            Review of Economic Systems

                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                            What are the most important goals of each economic system

                                                            bullTraditionalSecurity and

                                                            StabilitybullCommand

                                                            Equity and Security

                                                            bullMARKETEfficiency and

                                                            Freedom

                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                            at the expense of another (TRADEOFFS)

                                                            Which economic system does the US use

                                                            The American Economic System

                                                            bullWe have a mixed market economy

                                                            COMMAND MARKET

                                                            The US mixed economybull In a mixed economyhellip

                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                            Think backhellip

                                                            bullWhat does this remind you of from the beginning of the unit

                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                            2 Limited government

                                                            3 Equal opportunity

                                                            4 Competition

                                                            5 Profit motive

                                                            6 Property Rights

                                                            7 Binding Contracts

                                                            Understanding how all parts fit together

                                                            Circular Flow of Economic Activity Represents a market economy

                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                            Shows interdependence between

                                                            businesses and individuals

                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                            bull Using what you have learned this unit and using the textbook

                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                            Do you remember

                                                            bullWrite the following question downbullWhy does the United States have a

                                                            democracy and mixed economy

                                                            • Foundations of Government and Economics
                                                            • On your blank piece of paperhellip
                                                            • Slide 3
                                                            • Warm-Up 1 - 9414
                                                            • Introductory thoughts hellip
                                                            • Slide 6
                                                            • 2 How about to your life
                                                            • Slide 8
                                                            • Slide 9
                                                            • Slide 10
                                                            • Slide 11
                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                            • Warm up 2bndash In Journal-
                                                            • Economist and Politician Assumptions
                                                            • Individualism
                                                            • Quote activity
                                                            • Quote breakdown
                                                            • Warm Up 3- Current Event 9814
                                                            • Purpose of Government
                                                            • Slide 20
                                                            • 3 Theorists
                                                            • Activity
                                                            • Origins of American Government A customized government
                                                            • Origins of American Government A customized government (2)
                                                            • Origins of American Government A customized government (3)
                                                            • With which theory do you agree more Why
                                                            • The ldquoOriginal Dilemmardquo
                                                            • Warm Up 5 Hobbes and Locke
                                                            • Groups Block 2
                                                            • Groups Block 4
                                                            • Balloon Game
                                                            • You will have 10 minutes to get as many filled balloons on the
                                                            • Balloon Game Debriefing
                                                            • Political Theories
                                                            • Social Contract
                                                            • Natural Rights
                                                            • Democracy
                                                            • Concepts of Government
                                                            • Warm up 6 ndash 91114
                                                            • Warm Up 7
                                                            • And after the Constitution
                                                            • Activity (2)
                                                            • Picture Activity
                                                            • Constitutional Convention
                                                            • Purpose of the Convention
                                                            • VA Plan v NJ Plan
                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                            • Your Task
                                                            • Closure
                                                            • States agree
                                                            • Quote
                                                            • Structure of Constitution
                                                            • Structure of Constitution
                                                            • 6 Purpose of Government
                                                            • Structure of Constitution (2)
                                                            • Structure of Constitution (3)
                                                            • Principles of Constitution
                                                            • Activity
                                                            • Slide 60
                                                            • Check for Understanding Six Principles
                                                            • Question 1
                                                            • Question 2
                                                            • Question 3
                                                            • Question 4
                                                            • Question 5
                                                            • Question 6
                                                            • Question 7
                                                            • Question 8
                                                            • Groups
                                                            • Separation of Powers
                                                            • Video
                                                            • Checks and Balances
                                                            • Slide 74
                                                            • Checks and balances
                                                            • Basic Principles
                                                            • Self- Worth
                                                            • Equality
                                                            • Compromise
                                                            • Individual Freedom
                                                            • Write your ownhellip
                                                            • Slide 82
                                                            • TED Talk
                                                            • Closure
                                                            • What is Economics
                                                            • Economics ishellip
                                                            • Back to our assumptionshellip
                                                            • Scarcity refers to the limited number of resources (factors of
                                                            • For the videohellip
                                                            • Slide 90
                                                            • Post Videohellip
                                                            • Advertisement
                                                            • Political Cartoon Analysis
                                                            • Factors of Production
                                                            • TASK
                                                            • The price ofhellip
                                                            • Economic efficiency is achieved when all available resources ar
                                                            • 1 What to produce
                                                            • 2 How to produce it
                                                            • 3 For whom to produce it
                                                            • Application Activity
                                                            • EQs
                                                            • Objectives amp Essential Questions
                                                            • Group Activity Budget Activity
                                                            • Slide 105
                                                            • How do we satisfy our economic wants
                                                            • How do we make goods amp services
                                                            • Economic Interdependence
                                                            • Slide 109
                                                            • Making Choices to Deal With Scarcity
                                                            • Exampleshellip
                                                            • Task Reflecting on Personal Trade-offshellip
                                                            • Opportunity Cost
                                                            • What else influences your choices
                                                            • Finallyhellip Why it Matters
                                                            • Visualizing the Relationshiphellip
                                                            • ObjectivesEssential Questions
                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                            • Production Possibilities Frontier
                                                            • PPF Assumptions
                                                            • Slide 121
                                                            • Production Possibilities Curve
                                                            • The Choices Nations Make
                                                            • Economic Growth
                                                            • The Classic Guns and Butter example
                                                            • Productivity
                                                            • Locations on a PPF
                                                            • Slide 128
                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                            • Economic Systems
                                                            • Jigsaw activity
                                                            • Slide 132
                                                            • Economic amp Social Goals of an Economic System
                                                            • Review of Economic Systems
                                                            • Slide 135
                                                            • What are the most important goals of each economic system
                                                            • Which economic system does the US use
                                                            • The American Economic System
                                                            • The US mixed economy
                                                            • Slide 140
                                                            • Think backhellip
                                                            • US Economic System Characteristics
                                                            • Slide 143
                                                            • Understanding how all parts fit together
                                                            • Marriage Vows
                                                            • Do you remember
                                                            • Slide 147

                                                              You will have 10 minutes to get as many filled balloons on the square as possible

                                                              End

                                                              >

                                                              Balloon Game Debriefing What type of behavior did you see during the

                                                              game

                                                              List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                                              Why do you think you needed more ldquorulesrdquo during

                                                              this game

                                                              How does this relate to this class How does it relate to the theorists

                                                              Political Theories

                                                              Force Theory small group forced

                                                              all to submit to person andor grouprsquos rule

                                                              Evolutionary Theory developed naturally out of the

                                                              evolution of the family

                                                              Divine Right held that God created the state

                                                              and God had given those of royal birth

                                                              ldquodivine rightrdquo to rule

                                                              Social Contract argues that state arose out of a

                                                              voluntary act of free people State exists only

                                                              to serve the will of the people

                                                              Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                              power to a government to protect them and serve their interests

                                                              bullFree to remove that power at any timebullGovernment can only create laws when it

                                                              has the consent of the governedbullExamples

                                                              Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                              cannot be taken away by any one (government)

                                                              bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                              bull Idea of consent derived from social contract theory

                                                              Democracybull A system of government in which in

                                                              theory the people rule either directly or indirectly

                                                              bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                              Concepts of Governmentbull Ordered governmentmdashneed for order

                                                              bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                              bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                              Warm up 6 ndash 91114

                                                              Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                              are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                              Warm Up 7

                                                              bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                              And after the ConstitutionFederalism vs Anti-Federalism

                                                              bullFederalists believed Favored ratification believed Constitution was

                                                              strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                              bullAnti-Federalists believed Opposed ratification believed Constitution

                                                              was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                              Activity

                                                              bullEach of you will get a card it either has a termperson or a definition on it

                                                              bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                              bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                              secret with your partner

                                                              Picture Activity

                                                              bullGallery Walk

                                                              Constitutional Convention

                                                              bullMet in Philadelphia in 1787

                                                              bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                              bullThese men were collectively known as ldquoThe Framersrdquo

                                                              Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                              Confederation bullDelegates quickly realized they were

                                                              meeting to create a new government (with 3 branches)

                                                              VA Plan v NJ Plan

                                                              Several plans were proposed to correct the weaknesses of the Articles

                                                              bullVirginia PlanbullNew Jersey Plan

                                                              Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                              Virginia Plan ldquoLarge State Planrdquo

                                                              bullStrong central govrsquotbullL Bicameral Congress

                                                              Representation based on population

                                                              bullE ldquoPresidentrdquo Chosen by Congress

                                                              bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                              New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                              Each state would have = representationExpand power to tax amp regulate trade

                                                              bullE Two-person presidencyChosen by Congress able to be removed

                                                              bullJ Single Supreme CourtChosen by Executive

                                                              Your Task

                                                              Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                              them to choose your planUse catchy phrasesslogans and be sure to

                                                              include the historical features of your plan (VA or NJ)

                                                              At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                              Closure

                                                              bullWhat do you think (or know) happens to these two plans

                                                              States agreebull States agree to (ratify) the Constitution

                                                              only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                              bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                              Quote

                                                              bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                              bullWhat words stick to you in this quote Why

                                                              Structure of Constitutionbull Provides basic

                                                              framework for US government

                                                              bull Outlines basic principles structure and processes

                                                              bull Three partsmdashPreambleArticlesAmendments

                                                              Structure of Constitution bull Preamble

                                                              Introduction to the Constitution Lists ideas that the government should stand for

                                                              and states purposes We the people of the United States in Order

                                                              to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                              6 Purpose of Government bull Form a More Perfect Union

                                                              bull Establish Justice bull Insure Domestic Tranquility

                                                              bull Provide for the Common Defense

                                                              bull Promote the General Welfare

                                                              bull Secure the Blessings of Liberty

                                                              For each phrase consider the followinghellip

                                                              1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                              2 Is this phrase important today

                                                              Structure of Constitution bullArticles

                                                              Main body of the Constitution Lay out basic structure of the national

                                                              governmentFurther broken down into sections and clauses

                                                              Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                              Clause oaths of office

                                                              Article VII Ratification

                                                              Structure of Constitution

                                                              bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                              Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                              bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                              Activity

                                                              Activity bull STEP 1 bull Fill in the graphic

                                                              organizer in your guided notes packet You have 8 minutes on your own to do this

                                                              bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                              Principle Explanation

                                                              Popular Sovereignty Idea that people are the source of all power held by the government

                                                              Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                              Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                              Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                              Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                              Federalism Divides the power between the central government and the States

                                                              Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                              Question 1

                                                              bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                              Popular Sovereignty

                                                              Question 2

                                                              bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                              Limited Government

                                                              Question 3

                                                              bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                              Limited Government

                                                              Question 4

                                                              bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                              SEPARATION OF POWERS

                                                              Question 5

                                                              bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                              Checks and Balances

                                                              Question 6

                                                              bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                              CHECKS AND BALANCES

                                                              Question 7

                                                              bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                              JUDICIAL REVIEW

                                                              Question 8

                                                              bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                              Federalism

                                                              GroupsPopular

                                                              SovereigntySeparation of

                                                              PowersFederalism

                                                              bull bull bull

                                                              Judicial Review

                                                              Limited Government

                                                              Checks and Balances

                                                              bull bull bull

                                                              Separation of Powers

                                                              bull Legislative branchmdashmakes the laws

                                                              bull Executive branchmdashenforces the laws

                                                              bull Judicial branchmdashinterprets the law

                                                              Video

                                                              bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                              Checks and Balances

                                                              Checks and balances

                                                              bullIn what was do the branches check on one another

                                                              bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                              Basic Principles

                                                              bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                              Self- Worth

                                                              bull A recognition of the fundamental worth of every person

                                                              bull The democratic process reflects the collective set of individuals who make up society

                                                              Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                              bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                              bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                              Compromise

                                                              bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                              bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                              bullWhy is compromise important

                                                              Individual Freedombull Right of the

                                                              individual to be free as far as the freedom of all will allow

                                                              bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                              Write your ownhellipbull Now that you know what the foundations of

                                                              government arehellip Create your own Constitution (Or social contract)

                                                              What do you think is important to include What do you think could be taken out

                                                              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                              Preamble (brief introduction) Articles (what should it include based on what we

                                                              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                              change it)

                                                              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                              paper

                                                              TED Talk

                                                              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                              Closure

                                                              bullExplain two principles of the constitution and how are they connected

                                                              What is Economics

                                                              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                              Important Parts of Economicsndash

                                                              CHOICESSCARCITY

                                                              Economics ishellip

                                                              bullDependent upon assumptions

                                                              bullDependent upon simplification of reality

                                                              Back to our assumptionshellip

                                                              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                              bullAll sellers seek to maximize profits

                                                              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                              For the videohellip

                                                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                              Post Videohellip

                                                              bullDefine the main idea of the video in 4-5 words

                                                              Advertisement

                                                              bullKnowing some of the basics about what economics is and why we study ithellip

                                                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                              3 images that represent different economic ideas

                                                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                              1 slogan that represents why economics is an important course to take

                                                              Political Cartoon Analysis

                                                              Factors of Production bull LAND

                                                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                              soil minerals water and plants

                                                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                              into producing goodsservices

                                                              bull CAPITAL Includes tools machines buildings and

                                                              technologies

                                                              bull ENTREPRENEUR Risk taker who is responsible for combining

                                                              land labor and capital to produce goods and services

                                                              TASK

                                                              bullTask Why are entrepreneurs the driving force in our economy

                                                              bullAnswer in 2-3 sentences

                                                              The price ofhellip

                                                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                              Economic efficiency is achieved when all available resources are being used

                                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                              1 What to produce

                                                              bullShould it be military or civilian goods

                                                              bullFood or clothingbullMedicine or movies

                                                              2 How to produce it

                                                              bullAutomated or manual labor

                                                              bullExpensive or cheap materials

                                                              bullDomestic or overseas labor

                                                              3 For whom to produce it

                                                              bullThe wealthy or the needybullThe sick or the healthy

                                                              Application Activity

                                                              bull In groups of 2-3 create your own country (name it please)

                                                              bull With your countryrsquos name explain the Population geography and general population

                                                              information (iehellipbull Choose 5 items for your country to produce and

                                                              answer the three societal questions for eachALSO explain why this material would help your

                                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                                              withhellip Images representing what you produce and a

                                                              slogan for why your country is awesome

                                                              EQs

                                                              bullHow does scarcity impact decision making

                                                              Objectives amp Essential QuestionsbullObjectives

                                                              I will be able to create and reflect on a budget given new economics content

                                                              I will be able to understand scarcity and our mixed economy

                                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                              Group Activity Budget Activity

                                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                              How do we satisfy our economic wants

                                                              bull We buy goods or services

                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                              How do we make goods amp services

                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                              Production Equation

                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                              inputs output

                                                              Economic Interdependence

                                                              bullWhat does lsquointerdependencersquo mean

                                                              bullIs our world becoming economic interdependent or independent

                                                              bullEconomic Interdependence the actions of one part of the

                                                              country (world) has an impact on what happens elsewhere

                                                              Wants amp Needs gt

                                                              Resources

                                                              Because of scarcity we

                                                              have to make choices

                                                              How do we make a choice What do we give up

                                                              What does this remind you of from our government unit

                                                              Making Choices to Deal With Scarcity

                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                              decision over another

                                                              ExampleshellipbullSome choices are easy to makehellip

                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                              school today or should I sleep in

                                                              Task Reflecting on Personal Trade-offshellip

                                                              In the end what helped you decide amongst your choices

                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                              tradeoffs for that decision

                                                              Be prepared to share

                                                              Opportunity Cost

                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                              Opportunity Cost ndash The best thing we give up to get what

                                                              we want

                                                              What else influences your choices

                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                              FinallyhellipWhy it Matters

                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                              better decision-maker

                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                              You always have to give something uphelliprdquo

                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                              decisions

                                                              Visualizing the Relationshiphellip

                                                              Limited Resources amp Unlimited Wants

                                                              Scarcity

                                                              Trade-offs (choices)

                                                              Opportunity Costs

                                                              ObjectivesEssential Questions

                                                              bullObjectivebullI will be able to understand (and teach)

                                                              the three different types of economies

                                                              bullEssential Question How do the different types of economies work

                                                              How Can We Measure What We Gain and Lose When

                                                              Making Choices

                                                              Answer With a Production Possibilities Frontier

                                                              Production Possibilities Frontier

                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                              PPF Assumptions

                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                              Production Possibilities Curve

                                                              CD

                                                              E

                                                              OU

                                                              TP

                                                              UT

                                                              OF

                                                              CO

                                                              NS

                                                              UM

                                                              ER

                                                              GO

                                                              OD

                                                              S

                                                              (un

                                                              its

                                                              per

                                                              yea

                                                              r)

                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                              A

                                                              BO

                                                              XF

                                                              G

                                                              Limited resources necessitate choices about WHAT to produce

                                                              The Choices Nations Make

                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                              bullProduce military goods or consumer goods

                                                              Economic Growth

                                                              2000 production possibilities

                                                              1900 production possibilities

                                                              OU

                                                              TP

                                                              UT

                                                              OF

                                                              CO

                                                              NS

                                                              UM

                                                              ER

                                                              GO

                                                              OD

                                                              S(u

                                                              nits

                                                              per

                                                              yea

                                                              r)

                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                              Production possibilities increases with more resources and technology

                                                              The Classic Guns and Butter example

                                                              Guns

                                                              Butter

                                                              10000 20000 30000 40000 50000

                                                              1000009500085000

                                                              70000

                                                              5000040000

                                                              BA

                                                              C

                                                              D

                                                              E

                                                              F

                                                              At point A all resources are used for butter

                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                              At point F all resources are used for Guns

                                                              Productivitybull A PPF can help us see how efficient our

                                                              choices are

                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                              Locations on a PPF

                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                              Food

                                                              Computer

                                                              4

                                                              3

                                                              2

                                                              1

                                                              1 2 3 4

                                                              OC between 1 and 2 computers = 1 Food

                                                              UnitOC between 3 and 4 computers = 1 Food

                                                              Unit

                                                              Constantly giving up the same quantity of food to get

                                                              additional computers

                                                              STRAIGHT-LINE PPFs Constant OC

                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                              Principle of Increasing Costs

                                                              As a society produces more of one product the OC of producing

                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                              Economic Systems

                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                              Three Types of Economic Systems Command Traditional Market

                                                              Jigsaw activity

                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                              Economic amp Social Goals of an Economic System

                                                              bull Economic Freedom

                                                              bull Economic Efficiency

                                                              bull Economic Equity

                                                              bull Economic Security

                                                              Economic Stability

                                                              Economic Growth

                                                              Review of Economic Systems

                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                              What are the most important goals of each economic system

                                                              bullTraditionalSecurity and

                                                              StabilitybullCommand

                                                              Equity and Security

                                                              bullMARKETEfficiency and

                                                              Freedom

                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                              at the expense of another (TRADEOFFS)

                                                              Which economic system does the US use

                                                              The American Economic System

                                                              bullWe have a mixed market economy

                                                              COMMAND MARKET

                                                              The US mixed economybull In a mixed economyhellip

                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                              Think backhellip

                                                              bullWhat does this remind you of from the beginning of the unit

                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                              2 Limited government

                                                              3 Equal opportunity

                                                              4 Competition

                                                              5 Profit motive

                                                              6 Property Rights

                                                              7 Binding Contracts

                                                              Understanding how all parts fit together

                                                              Circular Flow of Economic Activity Represents a market economy

                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                              Shows interdependence between

                                                              businesses and individuals

                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                              bull Using what you have learned this unit and using the textbook

                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                              Do you remember

                                                              bullWrite the following question downbullWhy does the United States have a

                                                              democracy and mixed economy

                                                              • Foundations of Government and Economics
                                                              • On your blank piece of paperhellip
                                                              • Slide 3
                                                              • Warm-Up 1 - 9414
                                                              • Introductory thoughts hellip
                                                              • Slide 6
                                                              • 2 How about to your life
                                                              • Slide 8
                                                              • Slide 9
                                                              • Slide 10
                                                              • Slide 11
                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                              • Warm up 2bndash In Journal-
                                                              • Economist and Politician Assumptions
                                                              • Individualism
                                                              • Quote activity
                                                              • Quote breakdown
                                                              • Warm Up 3- Current Event 9814
                                                              • Purpose of Government
                                                              • Slide 20
                                                              • 3 Theorists
                                                              • Activity
                                                              • Origins of American Government A customized government
                                                              • Origins of American Government A customized government (2)
                                                              • Origins of American Government A customized government (3)
                                                              • With which theory do you agree more Why
                                                              • The ldquoOriginal Dilemmardquo
                                                              • Warm Up 5 Hobbes and Locke
                                                              • Groups Block 2
                                                              • Groups Block 4
                                                              • Balloon Game
                                                              • You will have 10 minutes to get as many filled balloons on the
                                                              • Balloon Game Debriefing
                                                              • Political Theories
                                                              • Social Contract
                                                              • Natural Rights
                                                              • Democracy
                                                              • Concepts of Government
                                                              • Warm up 6 ndash 91114
                                                              • Warm Up 7
                                                              • And after the Constitution
                                                              • Activity (2)
                                                              • Picture Activity
                                                              • Constitutional Convention
                                                              • Purpose of the Convention
                                                              • VA Plan v NJ Plan
                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                              • Your Task
                                                              • Closure
                                                              • States agree
                                                              • Quote
                                                              • Structure of Constitution
                                                              • Structure of Constitution
                                                              • 6 Purpose of Government
                                                              • Structure of Constitution (2)
                                                              • Structure of Constitution (3)
                                                              • Principles of Constitution
                                                              • Activity
                                                              • Slide 60
                                                              • Check for Understanding Six Principles
                                                              • Question 1
                                                              • Question 2
                                                              • Question 3
                                                              • Question 4
                                                              • Question 5
                                                              • Question 6
                                                              • Question 7
                                                              • Question 8
                                                              • Groups
                                                              • Separation of Powers
                                                              • Video
                                                              • Checks and Balances
                                                              • Slide 74
                                                              • Checks and balances
                                                              • Basic Principles
                                                              • Self- Worth
                                                              • Equality
                                                              • Compromise
                                                              • Individual Freedom
                                                              • Write your ownhellip
                                                              • Slide 82
                                                              • TED Talk
                                                              • Closure
                                                              • What is Economics
                                                              • Economics ishellip
                                                              • Back to our assumptionshellip
                                                              • Scarcity refers to the limited number of resources (factors of
                                                              • For the videohellip
                                                              • Slide 90
                                                              • Post Videohellip
                                                              • Advertisement
                                                              • Political Cartoon Analysis
                                                              • Factors of Production
                                                              • TASK
                                                              • The price ofhellip
                                                              • Economic efficiency is achieved when all available resources ar
                                                              • 1 What to produce
                                                              • 2 How to produce it
                                                              • 3 For whom to produce it
                                                              • Application Activity
                                                              • EQs
                                                              • Objectives amp Essential Questions
                                                              • Group Activity Budget Activity
                                                              • Slide 105
                                                              • How do we satisfy our economic wants
                                                              • How do we make goods amp services
                                                              • Economic Interdependence
                                                              • Slide 109
                                                              • Making Choices to Deal With Scarcity
                                                              • Exampleshellip
                                                              • Task Reflecting on Personal Trade-offshellip
                                                              • Opportunity Cost
                                                              • What else influences your choices
                                                              • Finallyhellip Why it Matters
                                                              • Visualizing the Relationshiphellip
                                                              • ObjectivesEssential Questions
                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                              • Production Possibilities Frontier
                                                              • PPF Assumptions
                                                              • Slide 121
                                                              • Production Possibilities Curve
                                                              • The Choices Nations Make
                                                              • Economic Growth
                                                              • The Classic Guns and Butter example
                                                              • Productivity
                                                              • Locations on a PPF
                                                              • Slide 128
                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                              • Economic Systems
                                                              • Jigsaw activity
                                                              • Slide 132
                                                              • Economic amp Social Goals of an Economic System
                                                              • Review of Economic Systems
                                                              • Slide 135
                                                              • What are the most important goals of each economic system
                                                              • Which economic system does the US use
                                                              • The American Economic System
                                                              • The US mixed economy
                                                              • Slide 140
                                                              • Think backhellip
                                                              • US Economic System Characteristics
                                                              • Slide 143
                                                              • Understanding how all parts fit together
                                                              • Marriage Vows
                                                              • Do you remember
                                                              • Slide 147

                                                                Balloon Game Debriefing What type of behavior did you see during the

                                                                game

                                                                List some adjectives you would use to describe you and your classmatesrsquo actions while playing the game

                                                                Why do you think you needed more ldquorulesrdquo during

                                                                this game

                                                                How does this relate to this class How does it relate to the theorists

                                                                Political Theories

                                                                Force Theory small group forced

                                                                all to submit to person andor grouprsquos rule

                                                                Evolutionary Theory developed naturally out of the

                                                                evolution of the family

                                                                Divine Right held that God created the state

                                                                and God had given those of royal birth

                                                                ldquodivine rightrdquo to rule

                                                                Social Contract argues that state arose out of a

                                                                voluntary act of free people State exists only

                                                                to serve the will of the people

                                                                Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                                power to a government to protect them and serve their interests

                                                                bullFree to remove that power at any timebullGovernment can only create laws when it

                                                                has the consent of the governedbullExamples

                                                                Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                                cannot be taken away by any one (government)

                                                                bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                                bull Idea of consent derived from social contract theory

                                                                Democracybull A system of government in which in

                                                                theory the people rule either directly or indirectly

                                                                bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                                Concepts of Governmentbull Ordered governmentmdashneed for order

                                                                bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                                bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                                Warm up 6 ndash 91114

                                                                Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                                are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                                Warm Up 7

                                                                bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                                And after the ConstitutionFederalism vs Anti-Federalism

                                                                bullFederalists believed Favored ratification believed Constitution was

                                                                strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                                bullAnti-Federalists believed Opposed ratification believed Constitution

                                                                was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                                Activity

                                                                bullEach of you will get a card it either has a termperson or a definition on it

                                                                bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                secret with your partner

                                                                Picture Activity

                                                                bullGallery Walk

                                                                Constitutional Convention

                                                                bullMet in Philadelphia in 1787

                                                                bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                bullThese men were collectively known as ldquoThe Framersrdquo

                                                                Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                Confederation bullDelegates quickly realized they were

                                                                meeting to create a new government (with 3 branches)

                                                                VA Plan v NJ Plan

                                                                Several plans were proposed to correct the weaknesses of the Articles

                                                                bullVirginia PlanbullNew Jersey Plan

                                                                Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                Virginia Plan ldquoLarge State Planrdquo

                                                                bullStrong central govrsquotbullL Bicameral Congress

                                                                Representation based on population

                                                                bullE ldquoPresidentrdquo Chosen by Congress

                                                                bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                Each state would have = representationExpand power to tax amp regulate trade

                                                                bullE Two-person presidencyChosen by Congress able to be removed

                                                                bullJ Single Supreme CourtChosen by Executive

                                                                Your Task

                                                                Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                them to choose your planUse catchy phrasesslogans and be sure to

                                                                include the historical features of your plan (VA or NJ)

                                                                At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                Closure

                                                                bullWhat do you think (or know) happens to these two plans

                                                                States agreebull States agree to (ratify) the Constitution

                                                                only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                Quote

                                                                bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                bullWhat words stick to you in this quote Why

                                                                Structure of Constitutionbull Provides basic

                                                                framework for US government

                                                                bull Outlines basic principles structure and processes

                                                                bull Three partsmdashPreambleArticlesAmendments

                                                                Structure of Constitution bull Preamble

                                                                Introduction to the Constitution Lists ideas that the government should stand for

                                                                and states purposes We the people of the United States in Order

                                                                to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                6 Purpose of Government bull Form a More Perfect Union

                                                                bull Establish Justice bull Insure Domestic Tranquility

                                                                bull Provide for the Common Defense

                                                                bull Promote the General Welfare

                                                                bull Secure the Blessings of Liberty

                                                                For each phrase consider the followinghellip

                                                                1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                2 Is this phrase important today

                                                                Structure of Constitution bullArticles

                                                                Main body of the Constitution Lay out basic structure of the national

                                                                governmentFurther broken down into sections and clauses

                                                                Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                Clause oaths of office

                                                                Article VII Ratification

                                                                Structure of Constitution

                                                                bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                Activity

                                                                Activity bull STEP 1 bull Fill in the graphic

                                                                organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                Principle Explanation

                                                                Popular Sovereignty Idea that people are the source of all power held by the government

                                                                Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                Federalism Divides the power between the central government and the States

                                                                Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                Question 1

                                                                bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                Popular Sovereignty

                                                                Question 2

                                                                bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                Limited Government

                                                                Question 3

                                                                bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                Limited Government

                                                                Question 4

                                                                bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                SEPARATION OF POWERS

                                                                Question 5

                                                                bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                Checks and Balances

                                                                Question 6

                                                                bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                CHECKS AND BALANCES

                                                                Question 7

                                                                bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                JUDICIAL REVIEW

                                                                Question 8

                                                                bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                Federalism

                                                                GroupsPopular

                                                                SovereigntySeparation of

                                                                PowersFederalism

                                                                bull bull bull

                                                                Judicial Review

                                                                Limited Government

                                                                Checks and Balances

                                                                bull bull bull

                                                                Separation of Powers

                                                                bull Legislative branchmdashmakes the laws

                                                                bull Executive branchmdashenforces the laws

                                                                bull Judicial branchmdashinterprets the law

                                                                Video

                                                                bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                Checks and Balances

                                                                Checks and balances

                                                                bullIn what was do the branches check on one another

                                                                bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                Basic Principles

                                                                bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                Self- Worth

                                                                bull A recognition of the fundamental worth of every person

                                                                bull The democratic process reflects the collective set of individuals who make up society

                                                                Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                Compromise

                                                                bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                bullWhy is compromise important

                                                                Individual Freedombull Right of the

                                                                individual to be free as far as the freedom of all will allow

                                                                bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                Write your ownhellipbull Now that you know what the foundations of

                                                                government arehellip Create your own Constitution (Or social contract)

                                                                What do you think is important to include What do you think could be taken out

                                                                Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                Preamble (brief introduction) Articles (what should it include based on what we

                                                                learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                change it)

                                                                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                paper

                                                                TED Talk

                                                                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                Closure

                                                                bullExplain two principles of the constitution and how are they connected

                                                                What is Economics

                                                                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                Important Parts of Economicsndash

                                                                CHOICESSCARCITY

                                                                Economics ishellip

                                                                bullDependent upon assumptions

                                                                bullDependent upon simplification of reality

                                                                Back to our assumptionshellip

                                                                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                bullAll sellers seek to maximize profits

                                                                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                For the videohellip

                                                                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                Post Videohellip

                                                                bullDefine the main idea of the video in 4-5 words

                                                                Advertisement

                                                                bullKnowing some of the basics about what economics is and why we study ithellip

                                                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                3 images that represent different economic ideas

                                                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                1 slogan that represents why economics is an important course to take

                                                                Political Cartoon Analysis

                                                                Factors of Production bull LAND

                                                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                soil minerals water and plants

                                                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                into producing goodsservices

                                                                bull CAPITAL Includes tools machines buildings and

                                                                technologies

                                                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                land labor and capital to produce goods and services

                                                                TASK

                                                                bullTask Why are entrepreneurs the driving force in our economy

                                                                bullAnswer in 2-3 sentences

                                                                The price ofhellip

                                                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                Economic efficiency is achieved when all available resources are being used

                                                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                1 What to produce

                                                                bullShould it be military or civilian goods

                                                                bullFood or clothingbullMedicine or movies

                                                                2 How to produce it

                                                                bullAutomated or manual labor

                                                                bullExpensive or cheap materials

                                                                bullDomestic or overseas labor

                                                                3 For whom to produce it

                                                                bullThe wealthy or the needybullThe sick or the healthy

                                                                Application Activity

                                                                bull In groups of 2-3 create your own country (name it please)

                                                                bull With your countryrsquos name explain the Population geography and general population

                                                                information (iehellipbull Choose 5 items for your country to produce and

                                                                answer the three societal questions for eachALSO explain why this material would help your

                                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                withhellip Images representing what you produce and a

                                                                slogan for why your country is awesome

                                                                EQs

                                                                bullHow does scarcity impact decision making

                                                                Objectives amp Essential QuestionsbullObjectives

                                                                I will be able to create and reflect on a budget given new economics content

                                                                I will be able to understand scarcity and our mixed economy

                                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                Group Activity Budget Activity

                                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                How do we satisfy our economic wants

                                                                bull We buy goods or services

                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                How do we make goods amp services

                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                Production Equation

                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                inputs output

                                                                Economic Interdependence

                                                                bullWhat does lsquointerdependencersquo mean

                                                                bullIs our world becoming economic interdependent or independent

                                                                bullEconomic Interdependence the actions of one part of the

                                                                country (world) has an impact on what happens elsewhere

                                                                Wants amp Needs gt

                                                                Resources

                                                                Because of scarcity we

                                                                have to make choices

                                                                How do we make a choice What do we give up

                                                                What does this remind you of from our government unit

                                                                Making Choices to Deal With Scarcity

                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                decision over another

                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                school today or should I sleep in

                                                                Task Reflecting on Personal Trade-offshellip

                                                                In the end what helped you decide amongst your choices

                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                tradeoffs for that decision

                                                                Be prepared to share

                                                                Opportunity Cost

                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                we want

                                                                What else influences your choices

                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                FinallyhellipWhy it Matters

                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                better decision-maker

                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                You always have to give something uphelliprdquo

                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                decisions

                                                                Visualizing the Relationshiphellip

                                                                Limited Resources amp Unlimited Wants

                                                                Scarcity

                                                                Trade-offs (choices)

                                                                Opportunity Costs

                                                                ObjectivesEssential Questions

                                                                bullObjectivebullI will be able to understand (and teach)

                                                                the three different types of economies

                                                                bullEssential Question How do the different types of economies work

                                                                How Can We Measure What We Gain and Lose When

                                                                Making Choices

                                                                Answer With a Production Possibilities Frontier

                                                                Production Possibilities Frontier

                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                PPF Assumptions

                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                Production Possibilities Curve

                                                                CD

                                                                E

                                                                OU

                                                                TP

                                                                UT

                                                                OF

                                                                CO

                                                                NS

                                                                UM

                                                                ER

                                                                GO

                                                                OD

                                                                S

                                                                (un

                                                                its

                                                                per

                                                                yea

                                                                r)

                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                A

                                                                BO

                                                                XF

                                                                G

                                                                Limited resources necessitate choices about WHAT to produce

                                                                The Choices Nations Make

                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                bullProduce military goods or consumer goods

                                                                Economic Growth

                                                                2000 production possibilities

                                                                1900 production possibilities

                                                                OU

                                                                TP

                                                                UT

                                                                OF

                                                                CO

                                                                NS

                                                                UM

                                                                ER

                                                                GO

                                                                OD

                                                                S(u

                                                                nits

                                                                per

                                                                yea

                                                                r)

                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                Production possibilities increases with more resources and technology

                                                                The Classic Guns and Butter example

                                                                Guns

                                                                Butter

                                                                10000 20000 30000 40000 50000

                                                                1000009500085000

                                                                70000

                                                                5000040000

                                                                BA

                                                                C

                                                                D

                                                                E

                                                                F

                                                                At point A all resources are used for butter

                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                At point F all resources are used for Guns

                                                                Productivitybull A PPF can help us see how efficient our

                                                                choices are

                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                Locations on a PPF

                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                Food

                                                                Computer

                                                                4

                                                                3

                                                                2

                                                                1

                                                                1 2 3 4

                                                                OC between 1 and 2 computers = 1 Food

                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                Unit

                                                                Constantly giving up the same quantity of food to get

                                                                additional computers

                                                                STRAIGHT-LINE PPFs Constant OC

                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                Principle of Increasing Costs

                                                                As a society produces more of one product the OC of producing

                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                Economic Systems

                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                Three Types of Economic Systems Command Traditional Market

                                                                Jigsaw activity

                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                Economic amp Social Goals of an Economic System

                                                                bull Economic Freedom

                                                                bull Economic Efficiency

                                                                bull Economic Equity

                                                                bull Economic Security

                                                                Economic Stability

                                                                Economic Growth

                                                                Review of Economic Systems

                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                What are the most important goals of each economic system

                                                                bullTraditionalSecurity and

                                                                StabilitybullCommand

                                                                Equity and Security

                                                                bullMARKETEfficiency and

                                                                Freedom

                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                at the expense of another (TRADEOFFS)

                                                                Which economic system does the US use

                                                                The American Economic System

                                                                bullWe have a mixed market economy

                                                                COMMAND MARKET

                                                                The US mixed economybull In a mixed economyhellip

                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                Think backhellip

                                                                bullWhat does this remind you of from the beginning of the unit

                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                2 Limited government

                                                                3 Equal opportunity

                                                                4 Competition

                                                                5 Profit motive

                                                                6 Property Rights

                                                                7 Binding Contracts

                                                                Understanding how all parts fit together

                                                                Circular Flow of Economic Activity Represents a market economy

                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                Shows interdependence between

                                                                businesses and individuals

                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                bull Using what you have learned this unit and using the textbook

                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                Do you remember

                                                                bullWrite the following question downbullWhy does the United States have a

                                                                democracy and mixed economy

                                                                • Foundations of Government and Economics
                                                                • On your blank piece of paperhellip
                                                                • Slide 3
                                                                • Warm-Up 1 - 9414
                                                                • Introductory thoughts hellip
                                                                • Slide 6
                                                                • 2 How about to your life
                                                                • Slide 8
                                                                • Slide 9
                                                                • Slide 10
                                                                • Slide 11
                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                • Warm up 2bndash In Journal-
                                                                • Economist and Politician Assumptions
                                                                • Individualism
                                                                • Quote activity
                                                                • Quote breakdown
                                                                • Warm Up 3- Current Event 9814
                                                                • Purpose of Government
                                                                • Slide 20
                                                                • 3 Theorists
                                                                • Activity
                                                                • Origins of American Government A customized government
                                                                • Origins of American Government A customized government (2)
                                                                • Origins of American Government A customized government (3)
                                                                • With which theory do you agree more Why
                                                                • The ldquoOriginal Dilemmardquo
                                                                • Warm Up 5 Hobbes and Locke
                                                                • Groups Block 2
                                                                • Groups Block 4
                                                                • Balloon Game
                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                • Balloon Game Debriefing
                                                                • Political Theories
                                                                • Social Contract
                                                                • Natural Rights
                                                                • Democracy
                                                                • Concepts of Government
                                                                • Warm up 6 ndash 91114
                                                                • Warm Up 7
                                                                • And after the Constitution
                                                                • Activity (2)
                                                                • Picture Activity
                                                                • Constitutional Convention
                                                                • Purpose of the Convention
                                                                • VA Plan v NJ Plan
                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                • Your Task
                                                                • Closure
                                                                • States agree
                                                                • Quote
                                                                • Structure of Constitution
                                                                • Structure of Constitution
                                                                • 6 Purpose of Government
                                                                • Structure of Constitution (2)
                                                                • Structure of Constitution (3)
                                                                • Principles of Constitution
                                                                • Activity
                                                                • Slide 60
                                                                • Check for Understanding Six Principles
                                                                • Question 1
                                                                • Question 2
                                                                • Question 3
                                                                • Question 4
                                                                • Question 5
                                                                • Question 6
                                                                • Question 7
                                                                • Question 8
                                                                • Groups
                                                                • Separation of Powers
                                                                • Video
                                                                • Checks and Balances
                                                                • Slide 74
                                                                • Checks and balances
                                                                • Basic Principles
                                                                • Self- Worth
                                                                • Equality
                                                                • Compromise
                                                                • Individual Freedom
                                                                • Write your ownhellip
                                                                • Slide 82
                                                                • TED Talk
                                                                • Closure
                                                                • What is Economics
                                                                • Economics ishellip
                                                                • Back to our assumptionshellip
                                                                • Scarcity refers to the limited number of resources (factors of
                                                                • For the videohellip
                                                                • Slide 90
                                                                • Post Videohellip
                                                                • Advertisement
                                                                • Political Cartoon Analysis
                                                                • Factors of Production
                                                                • TASK
                                                                • The price ofhellip
                                                                • Economic efficiency is achieved when all available resources ar
                                                                • 1 What to produce
                                                                • 2 How to produce it
                                                                • 3 For whom to produce it
                                                                • Application Activity
                                                                • EQs
                                                                • Objectives amp Essential Questions
                                                                • Group Activity Budget Activity
                                                                • Slide 105
                                                                • How do we satisfy our economic wants
                                                                • How do we make goods amp services
                                                                • Economic Interdependence
                                                                • Slide 109
                                                                • Making Choices to Deal With Scarcity
                                                                • Exampleshellip
                                                                • Task Reflecting on Personal Trade-offshellip
                                                                • Opportunity Cost
                                                                • What else influences your choices
                                                                • Finallyhellip Why it Matters
                                                                • Visualizing the Relationshiphellip
                                                                • ObjectivesEssential Questions
                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                • Production Possibilities Frontier
                                                                • PPF Assumptions
                                                                • Slide 121
                                                                • Production Possibilities Curve
                                                                • The Choices Nations Make
                                                                • Economic Growth
                                                                • The Classic Guns and Butter example
                                                                • Productivity
                                                                • Locations on a PPF
                                                                • Slide 128
                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                • Economic Systems
                                                                • Jigsaw activity
                                                                • Slide 132
                                                                • Economic amp Social Goals of an Economic System
                                                                • Review of Economic Systems
                                                                • Slide 135
                                                                • What are the most important goals of each economic system
                                                                • Which economic system does the US use
                                                                • The American Economic System
                                                                • The US mixed economy
                                                                • Slide 140
                                                                • Think backhellip
                                                                • US Economic System Characteristics
                                                                • Slide 143
                                                                • Understanding how all parts fit together
                                                                • Marriage Vows
                                                                • Do you remember
                                                                • Slide 147

                                                                  Political Theories

                                                                  Force Theory small group forced

                                                                  all to submit to person andor grouprsquos rule

                                                                  Evolutionary Theory developed naturally out of the

                                                                  evolution of the family

                                                                  Divine Right held that God created the state

                                                                  and God had given those of royal birth

                                                                  ldquodivine rightrdquo to rule

                                                                  Social Contract argues that state arose out of a

                                                                  voluntary act of free people State exists only

                                                                  to serve the will of the people

                                                                  Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                                  power to a government to protect them and serve their interests

                                                                  bullFree to remove that power at any timebullGovernment can only create laws when it

                                                                  has the consent of the governedbullExamples

                                                                  Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                                  cannot be taken away by any one (government)

                                                                  bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                                  bull Idea of consent derived from social contract theory

                                                                  Democracybull A system of government in which in

                                                                  theory the people rule either directly or indirectly

                                                                  bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                                  Concepts of Governmentbull Ordered governmentmdashneed for order

                                                                  bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                                  bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                                  Warm up 6 ndash 91114

                                                                  Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                                  are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                                  Warm Up 7

                                                                  bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                                  And after the ConstitutionFederalism vs Anti-Federalism

                                                                  bullFederalists believed Favored ratification believed Constitution was

                                                                  strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                                  bullAnti-Federalists believed Opposed ratification believed Constitution

                                                                  was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                                  Activity

                                                                  bullEach of you will get a card it either has a termperson or a definition on it

                                                                  bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                  bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                  secret with your partner

                                                                  Picture Activity

                                                                  bullGallery Walk

                                                                  Constitutional Convention

                                                                  bullMet in Philadelphia in 1787

                                                                  bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                  bullThese men were collectively known as ldquoThe Framersrdquo

                                                                  Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                  Confederation bullDelegates quickly realized they were

                                                                  meeting to create a new government (with 3 branches)

                                                                  VA Plan v NJ Plan

                                                                  Several plans were proposed to correct the weaknesses of the Articles

                                                                  bullVirginia PlanbullNew Jersey Plan

                                                                  Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                  Virginia Plan ldquoLarge State Planrdquo

                                                                  bullStrong central govrsquotbullL Bicameral Congress

                                                                  Representation based on population

                                                                  bullE ldquoPresidentrdquo Chosen by Congress

                                                                  bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                  New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                  Each state would have = representationExpand power to tax amp regulate trade

                                                                  bullE Two-person presidencyChosen by Congress able to be removed

                                                                  bullJ Single Supreme CourtChosen by Executive

                                                                  Your Task

                                                                  Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                  them to choose your planUse catchy phrasesslogans and be sure to

                                                                  include the historical features of your plan (VA or NJ)

                                                                  At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                  Closure

                                                                  bullWhat do you think (or know) happens to these two plans

                                                                  States agreebull States agree to (ratify) the Constitution

                                                                  only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                  bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                  Quote

                                                                  bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                  bullWhat words stick to you in this quote Why

                                                                  Structure of Constitutionbull Provides basic

                                                                  framework for US government

                                                                  bull Outlines basic principles structure and processes

                                                                  bull Three partsmdashPreambleArticlesAmendments

                                                                  Structure of Constitution bull Preamble

                                                                  Introduction to the Constitution Lists ideas that the government should stand for

                                                                  and states purposes We the people of the United States in Order

                                                                  to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                  6 Purpose of Government bull Form a More Perfect Union

                                                                  bull Establish Justice bull Insure Domestic Tranquility

                                                                  bull Provide for the Common Defense

                                                                  bull Promote the General Welfare

                                                                  bull Secure the Blessings of Liberty

                                                                  For each phrase consider the followinghellip

                                                                  1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                  2 Is this phrase important today

                                                                  Structure of Constitution bullArticles

                                                                  Main body of the Constitution Lay out basic structure of the national

                                                                  governmentFurther broken down into sections and clauses

                                                                  Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                  Clause oaths of office

                                                                  Article VII Ratification

                                                                  Structure of Constitution

                                                                  bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                  Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                  bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                  Activity

                                                                  Activity bull STEP 1 bull Fill in the graphic

                                                                  organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                  bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                  Principle Explanation

                                                                  Popular Sovereignty Idea that people are the source of all power held by the government

                                                                  Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                  Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                  Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                  Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                  Federalism Divides the power between the central government and the States

                                                                  Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                  Question 1

                                                                  bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                  Popular Sovereignty

                                                                  Question 2

                                                                  bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                  Limited Government

                                                                  Question 3

                                                                  bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                  Limited Government

                                                                  Question 4

                                                                  bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                  SEPARATION OF POWERS

                                                                  Question 5

                                                                  bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                  Checks and Balances

                                                                  Question 6

                                                                  bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                  CHECKS AND BALANCES

                                                                  Question 7

                                                                  bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                  JUDICIAL REVIEW

                                                                  Question 8

                                                                  bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                  Federalism

                                                                  GroupsPopular

                                                                  SovereigntySeparation of

                                                                  PowersFederalism

                                                                  bull bull bull

                                                                  Judicial Review

                                                                  Limited Government

                                                                  Checks and Balances

                                                                  bull bull bull

                                                                  Separation of Powers

                                                                  bull Legislative branchmdashmakes the laws

                                                                  bull Executive branchmdashenforces the laws

                                                                  bull Judicial branchmdashinterprets the law

                                                                  Video

                                                                  bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                  Checks and Balances

                                                                  Checks and balances

                                                                  bullIn what was do the branches check on one another

                                                                  bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                  Basic Principles

                                                                  bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                  Self- Worth

                                                                  bull A recognition of the fundamental worth of every person

                                                                  bull The democratic process reflects the collective set of individuals who make up society

                                                                  Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                  bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                  bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                  Compromise

                                                                  bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                  bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                  bullWhy is compromise important

                                                                  Individual Freedombull Right of the

                                                                  individual to be free as far as the freedom of all will allow

                                                                  bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                  Write your ownhellipbull Now that you know what the foundations of

                                                                  government arehellip Create your own Constitution (Or social contract)

                                                                  What do you think is important to include What do you think could be taken out

                                                                  Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                  Preamble (brief introduction) Articles (what should it include based on what we

                                                                  learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                  change it)

                                                                  bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                  paper

                                                                  TED Talk

                                                                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                  Closure

                                                                  bullExplain two principles of the constitution and how are they connected

                                                                  What is Economics

                                                                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                  Important Parts of Economicsndash

                                                                  CHOICESSCARCITY

                                                                  Economics ishellip

                                                                  bullDependent upon assumptions

                                                                  bullDependent upon simplification of reality

                                                                  Back to our assumptionshellip

                                                                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                  bullAll sellers seek to maximize profits

                                                                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                  For the videohellip

                                                                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                  Post Videohellip

                                                                  bullDefine the main idea of the video in 4-5 words

                                                                  Advertisement

                                                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                  3 images that represent different economic ideas

                                                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                  1 slogan that represents why economics is an important course to take

                                                                  Political Cartoon Analysis

                                                                  Factors of Production bull LAND

                                                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                  soil minerals water and plants

                                                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                  into producing goodsservices

                                                                  bull CAPITAL Includes tools machines buildings and

                                                                  technologies

                                                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                  land labor and capital to produce goods and services

                                                                  TASK

                                                                  bullTask Why are entrepreneurs the driving force in our economy

                                                                  bullAnswer in 2-3 sentences

                                                                  The price ofhellip

                                                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                  Economic efficiency is achieved when all available resources are being used

                                                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                  1 What to produce

                                                                  bullShould it be military or civilian goods

                                                                  bullFood or clothingbullMedicine or movies

                                                                  2 How to produce it

                                                                  bullAutomated or manual labor

                                                                  bullExpensive or cheap materials

                                                                  bullDomestic or overseas labor

                                                                  3 For whom to produce it

                                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                                  Application Activity

                                                                  bull In groups of 2-3 create your own country (name it please)

                                                                  bull With your countryrsquos name explain the Population geography and general population

                                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                  withhellip Images representing what you produce and a

                                                                  slogan for why your country is awesome

                                                                  EQs

                                                                  bullHow does scarcity impact decision making

                                                                  Objectives amp Essential QuestionsbullObjectives

                                                                  I will be able to create and reflect on a budget given new economics content

                                                                  I will be able to understand scarcity and our mixed economy

                                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                  Group Activity Budget Activity

                                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                  How do we satisfy our economic wants

                                                                  bull We buy goods or services

                                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                                  How do we make goods amp services

                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                  Production Equation

                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                  inputs output

                                                                  Economic Interdependence

                                                                  bullWhat does lsquointerdependencersquo mean

                                                                  bullIs our world becoming economic interdependent or independent

                                                                  bullEconomic Interdependence the actions of one part of the

                                                                  country (world) has an impact on what happens elsewhere

                                                                  Wants amp Needs gt

                                                                  Resources

                                                                  Because of scarcity we

                                                                  have to make choices

                                                                  How do we make a choice What do we give up

                                                                  What does this remind you of from our government unit

                                                                  Making Choices to Deal With Scarcity

                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                  decision over another

                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                  school today or should I sleep in

                                                                  Task Reflecting on Personal Trade-offshellip

                                                                  In the end what helped you decide amongst your choices

                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                  tradeoffs for that decision

                                                                  Be prepared to share

                                                                  Opportunity Cost

                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                  we want

                                                                  What else influences your choices

                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                  FinallyhellipWhy it Matters

                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                  better decision-maker

                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                  You always have to give something uphelliprdquo

                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                  decisions

                                                                  Visualizing the Relationshiphellip

                                                                  Limited Resources amp Unlimited Wants

                                                                  Scarcity

                                                                  Trade-offs (choices)

                                                                  Opportunity Costs

                                                                  ObjectivesEssential Questions

                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                  the three different types of economies

                                                                  bullEssential Question How do the different types of economies work

                                                                  How Can We Measure What We Gain and Lose When

                                                                  Making Choices

                                                                  Answer With a Production Possibilities Frontier

                                                                  Production Possibilities Frontier

                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                  PPF Assumptions

                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                  Production Possibilities Curve

                                                                  CD

                                                                  E

                                                                  OU

                                                                  TP

                                                                  UT

                                                                  OF

                                                                  CO

                                                                  NS

                                                                  UM

                                                                  ER

                                                                  GO

                                                                  OD

                                                                  S

                                                                  (un

                                                                  its

                                                                  per

                                                                  yea

                                                                  r)

                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                  A

                                                                  BO

                                                                  XF

                                                                  G

                                                                  Limited resources necessitate choices about WHAT to produce

                                                                  The Choices Nations Make

                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                  bullProduce military goods or consumer goods

                                                                  Economic Growth

                                                                  2000 production possibilities

                                                                  1900 production possibilities

                                                                  OU

                                                                  TP

                                                                  UT

                                                                  OF

                                                                  CO

                                                                  NS

                                                                  UM

                                                                  ER

                                                                  GO

                                                                  OD

                                                                  S(u

                                                                  nits

                                                                  per

                                                                  yea

                                                                  r)

                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                  Production possibilities increases with more resources and technology

                                                                  The Classic Guns and Butter example

                                                                  Guns

                                                                  Butter

                                                                  10000 20000 30000 40000 50000

                                                                  1000009500085000

                                                                  70000

                                                                  5000040000

                                                                  BA

                                                                  C

                                                                  D

                                                                  E

                                                                  F

                                                                  At point A all resources are used for butter

                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                  At point F all resources are used for Guns

                                                                  Productivitybull A PPF can help us see how efficient our

                                                                  choices are

                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                  Locations on a PPF

                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                  Food

                                                                  Computer

                                                                  4

                                                                  3

                                                                  2

                                                                  1

                                                                  1 2 3 4

                                                                  OC between 1 and 2 computers = 1 Food

                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                  Unit

                                                                  Constantly giving up the same quantity of food to get

                                                                  additional computers

                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                  Principle of Increasing Costs

                                                                  As a society produces more of one product the OC of producing

                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                  Economic Systems

                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                  Three Types of Economic Systems Command Traditional Market

                                                                  Jigsaw activity

                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                  Economic amp Social Goals of an Economic System

                                                                  bull Economic Freedom

                                                                  bull Economic Efficiency

                                                                  bull Economic Equity

                                                                  bull Economic Security

                                                                  Economic Stability

                                                                  Economic Growth

                                                                  Review of Economic Systems

                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                  What are the most important goals of each economic system

                                                                  bullTraditionalSecurity and

                                                                  StabilitybullCommand

                                                                  Equity and Security

                                                                  bullMARKETEfficiency and

                                                                  Freedom

                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                  at the expense of another (TRADEOFFS)

                                                                  Which economic system does the US use

                                                                  The American Economic System

                                                                  bullWe have a mixed market economy

                                                                  COMMAND MARKET

                                                                  The US mixed economybull In a mixed economyhellip

                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                  Think backhellip

                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                  2 Limited government

                                                                  3 Equal opportunity

                                                                  4 Competition

                                                                  5 Profit motive

                                                                  6 Property Rights

                                                                  7 Binding Contracts

                                                                  Understanding how all parts fit together

                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                  Shows interdependence between

                                                                  businesses and individuals

                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                  bull Using what you have learned this unit and using the textbook

                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                  Do you remember

                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                  democracy and mixed economy

                                                                  • Foundations of Government and Economics
                                                                  • On your blank piece of paperhellip
                                                                  • Slide 3
                                                                  • Warm-Up 1 - 9414
                                                                  • Introductory thoughts hellip
                                                                  • Slide 6
                                                                  • 2 How about to your life
                                                                  • Slide 8
                                                                  • Slide 9
                                                                  • Slide 10
                                                                  • Slide 11
                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                  • Warm up 2bndash In Journal-
                                                                  • Economist and Politician Assumptions
                                                                  • Individualism
                                                                  • Quote activity
                                                                  • Quote breakdown
                                                                  • Warm Up 3- Current Event 9814
                                                                  • Purpose of Government
                                                                  • Slide 20
                                                                  • 3 Theorists
                                                                  • Activity
                                                                  • Origins of American Government A customized government
                                                                  • Origins of American Government A customized government (2)
                                                                  • Origins of American Government A customized government (3)
                                                                  • With which theory do you agree more Why
                                                                  • The ldquoOriginal Dilemmardquo
                                                                  • Warm Up 5 Hobbes and Locke
                                                                  • Groups Block 2
                                                                  • Groups Block 4
                                                                  • Balloon Game
                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                  • Balloon Game Debriefing
                                                                  • Political Theories
                                                                  • Social Contract
                                                                  • Natural Rights
                                                                  • Democracy
                                                                  • Concepts of Government
                                                                  • Warm up 6 ndash 91114
                                                                  • Warm Up 7
                                                                  • And after the Constitution
                                                                  • Activity (2)
                                                                  • Picture Activity
                                                                  • Constitutional Convention
                                                                  • Purpose of the Convention
                                                                  • VA Plan v NJ Plan
                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                  • Your Task
                                                                  • Closure
                                                                  • States agree
                                                                  • Quote
                                                                  • Structure of Constitution
                                                                  • Structure of Constitution
                                                                  • 6 Purpose of Government
                                                                  • Structure of Constitution (2)
                                                                  • Structure of Constitution (3)
                                                                  • Principles of Constitution
                                                                  • Activity
                                                                  • Slide 60
                                                                  • Check for Understanding Six Principles
                                                                  • Question 1
                                                                  • Question 2
                                                                  • Question 3
                                                                  • Question 4
                                                                  • Question 5
                                                                  • Question 6
                                                                  • Question 7
                                                                  • Question 8
                                                                  • Groups
                                                                  • Separation of Powers
                                                                  • Video
                                                                  • Checks and Balances
                                                                  • Slide 74
                                                                  • Checks and balances
                                                                  • Basic Principles
                                                                  • Self- Worth
                                                                  • Equality
                                                                  • Compromise
                                                                  • Individual Freedom
                                                                  • Write your ownhellip
                                                                  • Slide 82
                                                                  • TED Talk
                                                                  • Closure
                                                                  • What is Economics
                                                                  • Economics ishellip
                                                                  • Back to our assumptionshellip
                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                  • For the videohellip
                                                                  • Slide 90
                                                                  • Post Videohellip
                                                                  • Advertisement
                                                                  • Political Cartoon Analysis
                                                                  • Factors of Production
                                                                  • TASK
                                                                  • The price ofhellip
                                                                  • Economic efficiency is achieved when all available resources ar
                                                                  • 1 What to produce
                                                                  • 2 How to produce it
                                                                  • 3 For whom to produce it
                                                                  • Application Activity
                                                                  • EQs
                                                                  • Objectives amp Essential Questions
                                                                  • Group Activity Budget Activity
                                                                  • Slide 105
                                                                  • How do we satisfy our economic wants
                                                                  • How do we make goods amp services
                                                                  • Economic Interdependence
                                                                  • Slide 109
                                                                  • Making Choices to Deal With Scarcity
                                                                  • Exampleshellip
                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                  • Opportunity Cost
                                                                  • What else influences your choices
                                                                  • Finallyhellip Why it Matters
                                                                  • Visualizing the Relationshiphellip
                                                                  • ObjectivesEssential Questions
                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                  • Production Possibilities Frontier
                                                                  • PPF Assumptions
                                                                  • Slide 121
                                                                  • Production Possibilities Curve
                                                                  • The Choices Nations Make
                                                                  • Economic Growth
                                                                  • The Classic Guns and Butter example
                                                                  • Productivity
                                                                  • Locations on a PPF
                                                                  • Slide 128
                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                  • Economic Systems
                                                                  • Jigsaw activity
                                                                  • Slide 132
                                                                  • Economic amp Social Goals of an Economic System
                                                                  • Review of Economic Systems
                                                                  • Slide 135
                                                                  • What are the most important goals of each economic system
                                                                  • Which economic system does the US use
                                                                  • The American Economic System
                                                                  • The US mixed economy
                                                                  • Slide 140
                                                                  • Think backhellip
                                                                  • US Economic System Characteristics
                                                                  • Slide 143
                                                                  • Understanding how all parts fit together
                                                                  • Marriage Vows
                                                                  • Do you remember
                                                                  • Slide 147

                                                                    Social ContractbullJean-Jacques Rousseau and LockebullMeans that people voluntarily give up

                                                                    power to a government to protect them and serve their interests

                                                                    bullFree to remove that power at any timebullGovernment can only create laws when it

                                                                    has the consent of the governedbullExamples

                                                                    Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                                    cannot be taken away by any one (government)

                                                                    bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                                    bull Idea of consent derived from social contract theory

                                                                    Democracybull A system of government in which in

                                                                    theory the people rule either directly or indirectly

                                                                    bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                                    Concepts of Governmentbull Ordered governmentmdashneed for order

                                                                    bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                                    bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                                    Warm up 6 ndash 91114

                                                                    Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                                    are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                                    Warm Up 7

                                                                    bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                                    And after the ConstitutionFederalism vs Anti-Federalism

                                                                    bullFederalists believed Favored ratification believed Constitution was

                                                                    strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                                    bullAnti-Federalists believed Opposed ratification believed Constitution

                                                                    was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                                    Activity

                                                                    bullEach of you will get a card it either has a termperson or a definition on it

                                                                    bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                    bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                    secret with your partner

                                                                    Picture Activity

                                                                    bullGallery Walk

                                                                    Constitutional Convention

                                                                    bullMet in Philadelphia in 1787

                                                                    bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                    bullThese men were collectively known as ldquoThe Framersrdquo

                                                                    Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                    Confederation bullDelegates quickly realized they were

                                                                    meeting to create a new government (with 3 branches)

                                                                    VA Plan v NJ Plan

                                                                    Several plans were proposed to correct the weaknesses of the Articles

                                                                    bullVirginia PlanbullNew Jersey Plan

                                                                    Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                    Virginia Plan ldquoLarge State Planrdquo

                                                                    bullStrong central govrsquotbullL Bicameral Congress

                                                                    Representation based on population

                                                                    bullE ldquoPresidentrdquo Chosen by Congress

                                                                    bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                    New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                    Each state would have = representationExpand power to tax amp regulate trade

                                                                    bullE Two-person presidencyChosen by Congress able to be removed

                                                                    bullJ Single Supreme CourtChosen by Executive

                                                                    Your Task

                                                                    Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                    them to choose your planUse catchy phrasesslogans and be sure to

                                                                    include the historical features of your plan (VA or NJ)

                                                                    At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                    Closure

                                                                    bullWhat do you think (or know) happens to these two plans

                                                                    States agreebull States agree to (ratify) the Constitution

                                                                    only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                    bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                    Quote

                                                                    bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                    bullWhat words stick to you in this quote Why

                                                                    Structure of Constitutionbull Provides basic

                                                                    framework for US government

                                                                    bull Outlines basic principles structure and processes

                                                                    bull Three partsmdashPreambleArticlesAmendments

                                                                    Structure of Constitution bull Preamble

                                                                    Introduction to the Constitution Lists ideas that the government should stand for

                                                                    and states purposes We the people of the United States in Order

                                                                    to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                    6 Purpose of Government bull Form a More Perfect Union

                                                                    bull Establish Justice bull Insure Domestic Tranquility

                                                                    bull Provide for the Common Defense

                                                                    bull Promote the General Welfare

                                                                    bull Secure the Blessings of Liberty

                                                                    For each phrase consider the followinghellip

                                                                    1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                    2 Is this phrase important today

                                                                    Structure of Constitution bullArticles

                                                                    Main body of the Constitution Lay out basic structure of the national

                                                                    governmentFurther broken down into sections and clauses

                                                                    Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                    Clause oaths of office

                                                                    Article VII Ratification

                                                                    Structure of Constitution

                                                                    bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                    Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                    bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                    Activity

                                                                    Activity bull STEP 1 bull Fill in the graphic

                                                                    organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                    bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                    Principle Explanation

                                                                    Popular Sovereignty Idea that people are the source of all power held by the government

                                                                    Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                    Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                    Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                    Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                    Federalism Divides the power between the central government and the States

                                                                    Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                    Question 1

                                                                    bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                    Popular Sovereignty

                                                                    Question 2

                                                                    bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                    Limited Government

                                                                    Question 3

                                                                    bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                    Limited Government

                                                                    Question 4

                                                                    bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                    SEPARATION OF POWERS

                                                                    Question 5

                                                                    bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                    Checks and Balances

                                                                    Question 6

                                                                    bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                    CHECKS AND BALANCES

                                                                    Question 7

                                                                    bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                    JUDICIAL REVIEW

                                                                    Question 8

                                                                    bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                    Federalism

                                                                    GroupsPopular

                                                                    SovereigntySeparation of

                                                                    PowersFederalism

                                                                    bull bull bull

                                                                    Judicial Review

                                                                    Limited Government

                                                                    Checks and Balances

                                                                    bull bull bull

                                                                    Separation of Powers

                                                                    bull Legislative branchmdashmakes the laws

                                                                    bull Executive branchmdashenforces the laws

                                                                    bull Judicial branchmdashinterprets the law

                                                                    Video

                                                                    bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                    Checks and Balances

                                                                    Checks and balances

                                                                    bullIn what was do the branches check on one another

                                                                    bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                    Basic Principles

                                                                    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                    Self- Worth

                                                                    bull A recognition of the fundamental worth of every person

                                                                    bull The democratic process reflects the collective set of individuals who make up society

                                                                    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                    Compromise

                                                                    bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                    bullWhy is compromise important

                                                                    Individual Freedombull Right of the

                                                                    individual to be free as far as the freedom of all will allow

                                                                    bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                    Write your ownhellipbull Now that you know what the foundations of

                                                                    government arehellip Create your own Constitution (Or social contract)

                                                                    What do you think is important to include What do you think could be taken out

                                                                    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                    Preamble (brief introduction) Articles (what should it include based on what we

                                                                    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                    change it)

                                                                    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                    paper

                                                                    TED Talk

                                                                    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                    Closure

                                                                    bullExplain two principles of the constitution and how are they connected

                                                                    What is Economics

                                                                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                    Important Parts of Economicsndash

                                                                    CHOICESSCARCITY

                                                                    Economics ishellip

                                                                    bullDependent upon assumptions

                                                                    bullDependent upon simplification of reality

                                                                    Back to our assumptionshellip

                                                                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                    bullAll sellers seek to maximize profits

                                                                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                    For the videohellip

                                                                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                    Post Videohellip

                                                                    bullDefine the main idea of the video in 4-5 words

                                                                    Advertisement

                                                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                    3 images that represent different economic ideas

                                                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                    1 slogan that represents why economics is an important course to take

                                                                    Political Cartoon Analysis

                                                                    Factors of Production bull LAND

                                                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                    soil minerals water and plants

                                                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                    into producing goodsservices

                                                                    bull CAPITAL Includes tools machines buildings and

                                                                    technologies

                                                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                    land labor and capital to produce goods and services

                                                                    TASK

                                                                    bullTask Why are entrepreneurs the driving force in our economy

                                                                    bullAnswer in 2-3 sentences

                                                                    The price ofhellip

                                                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                    Economic efficiency is achieved when all available resources are being used

                                                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                    1 What to produce

                                                                    bullShould it be military or civilian goods

                                                                    bullFood or clothingbullMedicine or movies

                                                                    2 How to produce it

                                                                    bullAutomated or manual labor

                                                                    bullExpensive or cheap materials

                                                                    bullDomestic or overseas labor

                                                                    3 For whom to produce it

                                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                                    Application Activity

                                                                    bull In groups of 2-3 create your own country (name it please)

                                                                    bull With your countryrsquos name explain the Population geography and general population

                                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                    withhellip Images representing what you produce and a

                                                                    slogan for why your country is awesome

                                                                    EQs

                                                                    bullHow does scarcity impact decision making

                                                                    Objectives amp Essential QuestionsbullObjectives

                                                                    I will be able to create and reflect on a budget given new economics content

                                                                    I will be able to understand scarcity and our mixed economy

                                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                    Group Activity Budget Activity

                                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                    How do we satisfy our economic wants

                                                                    bull We buy goods or services

                                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                                    How do we make goods amp services

                                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                    Production Equation

                                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                                    inputs output

                                                                    Economic Interdependence

                                                                    bullWhat does lsquointerdependencersquo mean

                                                                    bullIs our world becoming economic interdependent or independent

                                                                    bullEconomic Interdependence the actions of one part of the

                                                                    country (world) has an impact on what happens elsewhere

                                                                    Wants amp Needs gt

                                                                    Resources

                                                                    Because of scarcity we

                                                                    have to make choices

                                                                    How do we make a choice What do we give up

                                                                    What does this remind you of from our government unit

                                                                    Making Choices to Deal With Scarcity

                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                    decision over another

                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                    school today or should I sleep in

                                                                    Task Reflecting on Personal Trade-offshellip

                                                                    In the end what helped you decide amongst your choices

                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                    tradeoffs for that decision

                                                                    Be prepared to share

                                                                    Opportunity Cost

                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                    we want

                                                                    What else influences your choices

                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                    FinallyhellipWhy it Matters

                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                    better decision-maker

                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                    You always have to give something uphelliprdquo

                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                    decisions

                                                                    Visualizing the Relationshiphellip

                                                                    Limited Resources amp Unlimited Wants

                                                                    Scarcity

                                                                    Trade-offs (choices)

                                                                    Opportunity Costs

                                                                    ObjectivesEssential Questions

                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                    the three different types of economies

                                                                    bullEssential Question How do the different types of economies work

                                                                    How Can We Measure What We Gain and Lose When

                                                                    Making Choices

                                                                    Answer With a Production Possibilities Frontier

                                                                    Production Possibilities Frontier

                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                    PPF Assumptions

                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                    Production Possibilities Curve

                                                                    CD

                                                                    E

                                                                    OU

                                                                    TP

                                                                    UT

                                                                    OF

                                                                    CO

                                                                    NS

                                                                    UM

                                                                    ER

                                                                    GO

                                                                    OD

                                                                    S

                                                                    (un

                                                                    its

                                                                    per

                                                                    yea

                                                                    r)

                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                    A

                                                                    BO

                                                                    XF

                                                                    G

                                                                    Limited resources necessitate choices about WHAT to produce

                                                                    The Choices Nations Make

                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                    bullProduce military goods or consumer goods

                                                                    Economic Growth

                                                                    2000 production possibilities

                                                                    1900 production possibilities

                                                                    OU

                                                                    TP

                                                                    UT

                                                                    OF

                                                                    CO

                                                                    NS

                                                                    UM

                                                                    ER

                                                                    GO

                                                                    OD

                                                                    S(u

                                                                    nits

                                                                    per

                                                                    yea

                                                                    r)

                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                    Production possibilities increases with more resources and technology

                                                                    The Classic Guns and Butter example

                                                                    Guns

                                                                    Butter

                                                                    10000 20000 30000 40000 50000

                                                                    1000009500085000

                                                                    70000

                                                                    5000040000

                                                                    BA

                                                                    C

                                                                    D

                                                                    E

                                                                    F

                                                                    At point A all resources are used for butter

                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                    At point F all resources are used for Guns

                                                                    Productivitybull A PPF can help us see how efficient our

                                                                    choices are

                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                    Locations on a PPF

                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                    Food

                                                                    Computer

                                                                    4

                                                                    3

                                                                    2

                                                                    1

                                                                    1 2 3 4

                                                                    OC between 1 and 2 computers = 1 Food

                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                    Unit

                                                                    Constantly giving up the same quantity of food to get

                                                                    additional computers

                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                    Principle of Increasing Costs

                                                                    As a society produces more of one product the OC of producing

                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                    Economic Systems

                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                    Three Types of Economic Systems Command Traditional Market

                                                                    Jigsaw activity

                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                    Economic amp Social Goals of an Economic System

                                                                    bull Economic Freedom

                                                                    bull Economic Efficiency

                                                                    bull Economic Equity

                                                                    bull Economic Security

                                                                    Economic Stability

                                                                    Economic Growth

                                                                    Review of Economic Systems

                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                    What are the most important goals of each economic system

                                                                    bullTraditionalSecurity and

                                                                    StabilitybullCommand

                                                                    Equity and Security

                                                                    bullMARKETEfficiency and

                                                                    Freedom

                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                    at the expense of another (TRADEOFFS)

                                                                    Which economic system does the US use

                                                                    The American Economic System

                                                                    bullWe have a mixed market economy

                                                                    COMMAND MARKET

                                                                    The US mixed economybull In a mixed economyhellip

                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                    Think backhellip

                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                    2 Limited government

                                                                    3 Equal opportunity

                                                                    4 Competition

                                                                    5 Profit motive

                                                                    6 Property Rights

                                                                    7 Binding Contracts

                                                                    Understanding how all parts fit together

                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                    Shows interdependence between

                                                                    businesses and individuals

                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                    bull Using what you have learned this unit and using the textbook

                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                    Do you remember

                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                    democracy and mixed economy

                                                                    • Foundations of Government and Economics
                                                                    • On your blank piece of paperhellip
                                                                    • Slide 3
                                                                    • Warm-Up 1 - 9414
                                                                    • Introductory thoughts hellip
                                                                    • Slide 6
                                                                    • 2 How about to your life
                                                                    • Slide 8
                                                                    • Slide 9
                                                                    • Slide 10
                                                                    • Slide 11
                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                    • Warm up 2bndash In Journal-
                                                                    • Economist and Politician Assumptions
                                                                    • Individualism
                                                                    • Quote activity
                                                                    • Quote breakdown
                                                                    • Warm Up 3- Current Event 9814
                                                                    • Purpose of Government
                                                                    • Slide 20
                                                                    • 3 Theorists
                                                                    • Activity
                                                                    • Origins of American Government A customized government
                                                                    • Origins of American Government A customized government (2)
                                                                    • Origins of American Government A customized government (3)
                                                                    • With which theory do you agree more Why
                                                                    • The ldquoOriginal Dilemmardquo
                                                                    • Warm Up 5 Hobbes and Locke
                                                                    • Groups Block 2
                                                                    • Groups Block 4
                                                                    • Balloon Game
                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                    • Balloon Game Debriefing
                                                                    • Political Theories
                                                                    • Social Contract
                                                                    • Natural Rights
                                                                    • Democracy
                                                                    • Concepts of Government
                                                                    • Warm up 6 ndash 91114
                                                                    • Warm Up 7
                                                                    • And after the Constitution
                                                                    • Activity (2)
                                                                    • Picture Activity
                                                                    • Constitutional Convention
                                                                    • Purpose of the Convention
                                                                    • VA Plan v NJ Plan
                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                    • Your Task
                                                                    • Closure
                                                                    • States agree
                                                                    • Quote
                                                                    • Structure of Constitution
                                                                    • Structure of Constitution
                                                                    • 6 Purpose of Government
                                                                    • Structure of Constitution (2)
                                                                    • Structure of Constitution (3)
                                                                    • Principles of Constitution
                                                                    • Activity
                                                                    • Slide 60
                                                                    • Check for Understanding Six Principles
                                                                    • Question 1
                                                                    • Question 2
                                                                    • Question 3
                                                                    • Question 4
                                                                    • Question 5
                                                                    • Question 6
                                                                    • Question 7
                                                                    • Question 8
                                                                    • Groups
                                                                    • Separation of Powers
                                                                    • Video
                                                                    • Checks and Balances
                                                                    • Slide 74
                                                                    • Checks and balances
                                                                    • Basic Principles
                                                                    • Self- Worth
                                                                    • Equality
                                                                    • Compromise
                                                                    • Individual Freedom
                                                                    • Write your ownhellip
                                                                    • Slide 82
                                                                    • TED Talk
                                                                    • Closure
                                                                    • What is Economics
                                                                    • Economics ishellip
                                                                    • Back to our assumptionshellip
                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                    • For the videohellip
                                                                    • Slide 90
                                                                    • Post Videohellip
                                                                    • Advertisement
                                                                    • Political Cartoon Analysis
                                                                    • Factors of Production
                                                                    • TASK
                                                                    • The price ofhellip
                                                                    • Economic efficiency is achieved when all available resources ar
                                                                    • 1 What to produce
                                                                    • 2 How to produce it
                                                                    • 3 For whom to produce it
                                                                    • Application Activity
                                                                    • EQs
                                                                    • Objectives amp Essential Questions
                                                                    • Group Activity Budget Activity
                                                                    • Slide 105
                                                                    • How do we satisfy our economic wants
                                                                    • How do we make goods amp services
                                                                    • Economic Interdependence
                                                                    • Slide 109
                                                                    • Making Choices to Deal With Scarcity
                                                                    • Exampleshellip
                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                    • Opportunity Cost
                                                                    • What else influences your choices
                                                                    • Finallyhellip Why it Matters
                                                                    • Visualizing the Relationshiphellip
                                                                    • ObjectivesEssential Questions
                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                    • Production Possibilities Frontier
                                                                    • PPF Assumptions
                                                                    • Slide 121
                                                                    • Production Possibilities Curve
                                                                    • The Choices Nations Make
                                                                    • Economic Growth
                                                                    • The Classic Guns and Butter example
                                                                    • Productivity
                                                                    • Locations on a PPF
                                                                    • Slide 128
                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                    • Economic Systems
                                                                    • Jigsaw activity
                                                                    • Slide 132
                                                                    • Economic amp Social Goals of an Economic System
                                                                    • Review of Economic Systems
                                                                    • Slide 135
                                                                    • What are the most important goals of each economic system
                                                                    • Which economic system does the US use
                                                                    • The American Economic System
                                                                    • The US mixed economy
                                                                    • Slide 140
                                                                    • Think backhellip
                                                                    • US Economic System Characteristics
                                                                    • Slide 143
                                                                    • Understanding how all parts fit together
                                                                    • Marriage Vows
                                                                    • Do you remember
                                                                    • Slide 147

                                                                      Natural Rightsbull Natural rights are ldquoinalienablerdquo and

                                                                      cannot be taken away by any one (government)

                                                                      bull Government exists to secure our natural rights and is based on the consent of those who are governed

                                                                      bull Idea of consent derived from social contract theory

                                                                      Democracybull A system of government in which in

                                                                      theory the people rule either directly or indirectly

                                                                      bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                                      Concepts of Governmentbull Ordered governmentmdashneed for order

                                                                      bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                                      bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                                      Warm up 6 ndash 91114

                                                                      Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                                      are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                                      Warm Up 7

                                                                      bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                                      And after the ConstitutionFederalism vs Anti-Federalism

                                                                      bullFederalists believed Favored ratification believed Constitution was

                                                                      strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                                      bullAnti-Federalists believed Opposed ratification believed Constitution

                                                                      was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                                      Activity

                                                                      bullEach of you will get a card it either has a termperson or a definition on it

                                                                      bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                      bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                      secret with your partner

                                                                      Picture Activity

                                                                      bullGallery Walk

                                                                      Constitutional Convention

                                                                      bullMet in Philadelphia in 1787

                                                                      bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                      bullThese men were collectively known as ldquoThe Framersrdquo

                                                                      Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                      Confederation bullDelegates quickly realized they were

                                                                      meeting to create a new government (with 3 branches)

                                                                      VA Plan v NJ Plan

                                                                      Several plans were proposed to correct the weaknesses of the Articles

                                                                      bullVirginia PlanbullNew Jersey Plan

                                                                      Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                      Virginia Plan ldquoLarge State Planrdquo

                                                                      bullStrong central govrsquotbullL Bicameral Congress

                                                                      Representation based on population

                                                                      bullE ldquoPresidentrdquo Chosen by Congress

                                                                      bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                      New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                      Each state would have = representationExpand power to tax amp regulate trade

                                                                      bullE Two-person presidencyChosen by Congress able to be removed

                                                                      bullJ Single Supreme CourtChosen by Executive

                                                                      Your Task

                                                                      Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                      them to choose your planUse catchy phrasesslogans and be sure to

                                                                      include the historical features of your plan (VA or NJ)

                                                                      At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                      Closure

                                                                      bullWhat do you think (or know) happens to these two plans

                                                                      States agreebull States agree to (ratify) the Constitution

                                                                      only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                      bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                      Quote

                                                                      bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                      bullWhat words stick to you in this quote Why

                                                                      Structure of Constitutionbull Provides basic

                                                                      framework for US government

                                                                      bull Outlines basic principles structure and processes

                                                                      bull Three partsmdashPreambleArticlesAmendments

                                                                      Structure of Constitution bull Preamble

                                                                      Introduction to the Constitution Lists ideas that the government should stand for

                                                                      and states purposes We the people of the United States in Order

                                                                      to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                      6 Purpose of Government bull Form a More Perfect Union

                                                                      bull Establish Justice bull Insure Domestic Tranquility

                                                                      bull Provide for the Common Defense

                                                                      bull Promote the General Welfare

                                                                      bull Secure the Blessings of Liberty

                                                                      For each phrase consider the followinghellip

                                                                      1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                      2 Is this phrase important today

                                                                      Structure of Constitution bullArticles

                                                                      Main body of the Constitution Lay out basic structure of the national

                                                                      governmentFurther broken down into sections and clauses

                                                                      Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                      Clause oaths of office

                                                                      Article VII Ratification

                                                                      Structure of Constitution

                                                                      bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                      Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                      bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                      Activity

                                                                      Activity bull STEP 1 bull Fill in the graphic

                                                                      organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                      bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                      Principle Explanation

                                                                      Popular Sovereignty Idea that people are the source of all power held by the government

                                                                      Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                      Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                      Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                      Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                      Federalism Divides the power between the central government and the States

                                                                      Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                      Question 1

                                                                      bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                      Popular Sovereignty

                                                                      Question 2

                                                                      bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                      Limited Government

                                                                      Question 3

                                                                      bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                      Limited Government

                                                                      Question 4

                                                                      bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                      SEPARATION OF POWERS

                                                                      Question 5

                                                                      bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                      Checks and Balances

                                                                      Question 6

                                                                      bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                      CHECKS AND BALANCES

                                                                      Question 7

                                                                      bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                      JUDICIAL REVIEW

                                                                      Question 8

                                                                      bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                      Federalism

                                                                      GroupsPopular

                                                                      SovereigntySeparation of

                                                                      PowersFederalism

                                                                      bull bull bull

                                                                      Judicial Review

                                                                      Limited Government

                                                                      Checks and Balances

                                                                      bull bull bull

                                                                      Separation of Powers

                                                                      bull Legislative branchmdashmakes the laws

                                                                      bull Executive branchmdashenforces the laws

                                                                      bull Judicial branchmdashinterprets the law

                                                                      Video

                                                                      bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                      Checks and Balances

                                                                      Checks and balances

                                                                      bullIn what was do the branches check on one another

                                                                      bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                      Basic Principles

                                                                      bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                      Self- Worth

                                                                      bull A recognition of the fundamental worth of every person

                                                                      bull The democratic process reflects the collective set of individuals who make up society

                                                                      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                      Compromise

                                                                      bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                      bullWhy is compromise important

                                                                      Individual Freedombull Right of the

                                                                      individual to be free as far as the freedom of all will allow

                                                                      bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                      Write your ownhellipbull Now that you know what the foundations of

                                                                      government arehellip Create your own Constitution (Or social contract)

                                                                      What do you think is important to include What do you think could be taken out

                                                                      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                      Preamble (brief introduction) Articles (what should it include based on what we

                                                                      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                      change it)

                                                                      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                      paper

                                                                      TED Talk

                                                                      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                      Closure

                                                                      bullExplain two principles of the constitution and how are they connected

                                                                      What is Economics

                                                                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                      Important Parts of Economicsndash

                                                                      CHOICESSCARCITY

                                                                      Economics ishellip

                                                                      bullDependent upon assumptions

                                                                      bullDependent upon simplification of reality

                                                                      Back to our assumptionshellip

                                                                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                      bullAll sellers seek to maximize profits

                                                                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                      For the videohellip

                                                                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                      Post Videohellip

                                                                      bullDefine the main idea of the video in 4-5 words

                                                                      Advertisement

                                                                      bullKnowing some of the basics about what economics is and why we study ithellip

                                                                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                      3 images that represent different economic ideas

                                                                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                      1 slogan that represents why economics is an important course to take

                                                                      Political Cartoon Analysis

                                                                      Factors of Production bull LAND

                                                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                      soil minerals water and plants

                                                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                      into producing goodsservices

                                                                      bull CAPITAL Includes tools machines buildings and

                                                                      technologies

                                                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                      land labor and capital to produce goods and services

                                                                      TASK

                                                                      bullTask Why are entrepreneurs the driving force in our economy

                                                                      bullAnswer in 2-3 sentences

                                                                      The price ofhellip

                                                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                      Economic efficiency is achieved when all available resources are being used

                                                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                      1 What to produce

                                                                      bullShould it be military or civilian goods

                                                                      bullFood or clothingbullMedicine or movies

                                                                      2 How to produce it

                                                                      bullAutomated or manual labor

                                                                      bullExpensive or cheap materials

                                                                      bullDomestic or overseas labor

                                                                      3 For whom to produce it

                                                                      bullThe wealthy or the needybullThe sick or the healthy

                                                                      Application Activity

                                                                      bull In groups of 2-3 create your own country (name it please)

                                                                      bull With your countryrsquos name explain the Population geography and general population

                                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                      withhellip Images representing what you produce and a

                                                                      slogan for why your country is awesome

                                                                      EQs

                                                                      bullHow does scarcity impact decision making

                                                                      Objectives amp Essential QuestionsbullObjectives

                                                                      I will be able to create and reflect on a budget given new economics content

                                                                      I will be able to understand scarcity and our mixed economy

                                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                      Group Activity Budget Activity

                                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                      How do we satisfy our economic wants

                                                                      bull We buy goods or services

                                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                                      How do we make goods amp services

                                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                      Production Equation

                                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                                      inputs output

                                                                      Economic Interdependence

                                                                      bullWhat does lsquointerdependencersquo mean

                                                                      bullIs our world becoming economic interdependent or independent

                                                                      bullEconomic Interdependence the actions of one part of the

                                                                      country (world) has an impact on what happens elsewhere

                                                                      Wants amp Needs gt

                                                                      Resources

                                                                      Because of scarcity we

                                                                      have to make choices

                                                                      How do we make a choice What do we give up

                                                                      What does this remind you of from our government unit

                                                                      Making Choices to Deal With Scarcity

                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                      decision over another

                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                      school today or should I sleep in

                                                                      Task Reflecting on Personal Trade-offshellip

                                                                      In the end what helped you decide amongst your choices

                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                      tradeoffs for that decision

                                                                      Be prepared to share

                                                                      Opportunity Cost

                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                      we want

                                                                      What else influences your choices

                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                      FinallyhellipWhy it Matters

                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                      better decision-maker

                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                      You always have to give something uphelliprdquo

                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                      decisions

                                                                      Visualizing the Relationshiphellip

                                                                      Limited Resources amp Unlimited Wants

                                                                      Scarcity

                                                                      Trade-offs (choices)

                                                                      Opportunity Costs

                                                                      ObjectivesEssential Questions

                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                      the three different types of economies

                                                                      bullEssential Question How do the different types of economies work

                                                                      How Can We Measure What We Gain and Lose When

                                                                      Making Choices

                                                                      Answer With a Production Possibilities Frontier

                                                                      Production Possibilities Frontier

                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                      PPF Assumptions

                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                      Production Possibilities Curve

                                                                      CD

                                                                      E

                                                                      OU

                                                                      TP

                                                                      UT

                                                                      OF

                                                                      CO

                                                                      NS

                                                                      UM

                                                                      ER

                                                                      GO

                                                                      OD

                                                                      S

                                                                      (un

                                                                      its

                                                                      per

                                                                      yea

                                                                      r)

                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                      A

                                                                      BO

                                                                      XF

                                                                      G

                                                                      Limited resources necessitate choices about WHAT to produce

                                                                      The Choices Nations Make

                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                      bullProduce military goods or consumer goods

                                                                      Economic Growth

                                                                      2000 production possibilities

                                                                      1900 production possibilities

                                                                      OU

                                                                      TP

                                                                      UT

                                                                      OF

                                                                      CO

                                                                      NS

                                                                      UM

                                                                      ER

                                                                      GO

                                                                      OD

                                                                      S(u

                                                                      nits

                                                                      per

                                                                      yea

                                                                      r)

                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                      Production possibilities increases with more resources and technology

                                                                      The Classic Guns and Butter example

                                                                      Guns

                                                                      Butter

                                                                      10000 20000 30000 40000 50000

                                                                      1000009500085000

                                                                      70000

                                                                      5000040000

                                                                      BA

                                                                      C

                                                                      D

                                                                      E

                                                                      F

                                                                      At point A all resources are used for butter

                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                      At point F all resources are used for Guns

                                                                      Productivitybull A PPF can help us see how efficient our

                                                                      choices are

                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                      Locations on a PPF

                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                      Food

                                                                      Computer

                                                                      4

                                                                      3

                                                                      2

                                                                      1

                                                                      1 2 3 4

                                                                      OC between 1 and 2 computers = 1 Food

                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                      Unit

                                                                      Constantly giving up the same quantity of food to get

                                                                      additional computers

                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                      Principle of Increasing Costs

                                                                      As a society produces more of one product the OC of producing

                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                      Economic Systems

                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                      Three Types of Economic Systems Command Traditional Market

                                                                      Jigsaw activity

                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                      Economic amp Social Goals of an Economic System

                                                                      bull Economic Freedom

                                                                      bull Economic Efficiency

                                                                      bull Economic Equity

                                                                      bull Economic Security

                                                                      Economic Stability

                                                                      Economic Growth

                                                                      Review of Economic Systems

                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                      What are the most important goals of each economic system

                                                                      bullTraditionalSecurity and

                                                                      StabilitybullCommand

                                                                      Equity and Security

                                                                      bullMARKETEfficiency and

                                                                      Freedom

                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                      at the expense of another (TRADEOFFS)

                                                                      Which economic system does the US use

                                                                      The American Economic System

                                                                      bullWe have a mixed market economy

                                                                      COMMAND MARKET

                                                                      The US mixed economybull In a mixed economyhellip

                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                      Think backhellip

                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                      2 Limited government

                                                                      3 Equal opportunity

                                                                      4 Competition

                                                                      5 Profit motive

                                                                      6 Property Rights

                                                                      7 Binding Contracts

                                                                      Understanding how all parts fit together

                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                      Shows interdependence between

                                                                      businesses and individuals

                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                      bull Using what you have learned this unit and using the textbook

                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                      Do you remember

                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                      democracy and mixed economy

                                                                      • Foundations of Government and Economics
                                                                      • On your blank piece of paperhellip
                                                                      • Slide 3
                                                                      • Warm-Up 1 - 9414
                                                                      • Introductory thoughts hellip
                                                                      • Slide 6
                                                                      • 2 How about to your life
                                                                      • Slide 8
                                                                      • Slide 9
                                                                      • Slide 10
                                                                      • Slide 11
                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                      • Warm up 2bndash In Journal-
                                                                      • Economist and Politician Assumptions
                                                                      • Individualism
                                                                      • Quote activity
                                                                      • Quote breakdown
                                                                      • Warm Up 3- Current Event 9814
                                                                      • Purpose of Government
                                                                      • Slide 20
                                                                      • 3 Theorists
                                                                      • Activity
                                                                      • Origins of American Government A customized government
                                                                      • Origins of American Government A customized government (2)
                                                                      • Origins of American Government A customized government (3)
                                                                      • With which theory do you agree more Why
                                                                      • The ldquoOriginal Dilemmardquo
                                                                      • Warm Up 5 Hobbes and Locke
                                                                      • Groups Block 2
                                                                      • Groups Block 4
                                                                      • Balloon Game
                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                      • Balloon Game Debriefing
                                                                      • Political Theories
                                                                      • Social Contract
                                                                      • Natural Rights
                                                                      • Democracy
                                                                      • Concepts of Government
                                                                      • Warm up 6 ndash 91114
                                                                      • Warm Up 7
                                                                      • And after the Constitution
                                                                      • Activity (2)
                                                                      • Picture Activity
                                                                      • Constitutional Convention
                                                                      • Purpose of the Convention
                                                                      • VA Plan v NJ Plan
                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                      • Your Task
                                                                      • Closure
                                                                      • States agree
                                                                      • Quote
                                                                      • Structure of Constitution
                                                                      • Structure of Constitution
                                                                      • 6 Purpose of Government
                                                                      • Structure of Constitution (2)
                                                                      • Structure of Constitution (3)
                                                                      • Principles of Constitution
                                                                      • Activity
                                                                      • Slide 60
                                                                      • Check for Understanding Six Principles
                                                                      • Question 1
                                                                      • Question 2
                                                                      • Question 3
                                                                      • Question 4
                                                                      • Question 5
                                                                      • Question 6
                                                                      • Question 7
                                                                      • Question 8
                                                                      • Groups
                                                                      • Separation of Powers
                                                                      • Video
                                                                      • Checks and Balances
                                                                      • Slide 74
                                                                      • Checks and balances
                                                                      • Basic Principles
                                                                      • Self- Worth
                                                                      • Equality
                                                                      • Compromise
                                                                      • Individual Freedom
                                                                      • Write your ownhellip
                                                                      • Slide 82
                                                                      • TED Talk
                                                                      • Closure
                                                                      • What is Economics
                                                                      • Economics ishellip
                                                                      • Back to our assumptionshellip
                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                      • For the videohellip
                                                                      • Slide 90
                                                                      • Post Videohellip
                                                                      • Advertisement
                                                                      • Political Cartoon Analysis
                                                                      • Factors of Production
                                                                      • TASK
                                                                      • The price ofhellip
                                                                      • Economic efficiency is achieved when all available resources ar
                                                                      • 1 What to produce
                                                                      • 2 How to produce it
                                                                      • 3 For whom to produce it
                                                                      • Application Activity
                                                                      • EQs
                                                                      • Objectives amp Essential Questions
                                                                      • Group Activity Budget Activity
                                                                      • Slide 105
                                                                      • How do we satisfy our economic wants
                                                                      • How do we make goods amp services
                                                                      • Economic Interdependence
                                                                      • Slide 109
                                                                      • Making Choices to Deal With Scarcity
                                                                      • Exampleshellip
                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                      • Opportunity Cost
                                                                      • What else influences your choices
                                                                      • Finallyhellip Why it Matters
                                                                      • Visualizing the Relationshiphellip
                                                                      • ObjectivesEssential Questions
                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                      • Production Possibilities Frontier
                                                                      • PPF Assumptions
                                                                      • Slide 121
                                                                      • Production Possibilities Curve
                                                                      • The Choices Nations Make
                                                                      • Economic Growth
                                                                      • The Classic Guns and Butter example
                                                                      • Productivity
                                                                      • Locations on a PPF
                                                                      • Slide 128
                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                      • Economic Systems
                                                                      • Jigsaw activity
                                                                      • Slide 132
                                                                      • Economic amp Social Goals of an Economic System
                                                                      • Review of Economic Systems
                                                                      • Slide 135
                                                                      • What are the most important goals of each economic system
                                                                      • Which economic system does the US use
                                                                      • The American Economic System
                                                                      • The US mixed economy
                                                                      • Slide 140
                                                                      • Think backhellip
                                                                      • US Economic System Characteristics
                                                                      • Slide 143
                                                                      • Understanding how all parts fit together
                                                                      • Marriage Vows
                                                                      • Do you remember
                                                                      • Slide 147

                                                                        Democracybull A system of government in which in

                                                                        theory the people rule either directly or indirectly

                                                                        bullOpposite of democracy is dictatorship where leader has absolute power and authority Examples

                                                                        Concepts of Governmentbull Ordered governmentmdashneed for order

                                                                        bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                                        bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                                        Warm up 6 ndash 91114

                                                                        Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                                        are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                                        Warm Up 7

                                                                        bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                                        And after the ConstitutionFederalism vs Anti-Federalism

                                                                        bullFederalists believed Favored ratification believed Constitution was

                                                                        strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                                        bullAnti-Federalists believed Opposed ratification believed Constitution

                                                                        was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                                        Activity

                                                                        bullEach of you will get a card it either has a termperson or a definition on it

                                                                        bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                        bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                        secret with your partner

                                                                        Picture Activity

                                                                        bullGallery Walk

                                                                        Constitutional Convention

                                                                        bullMet in Philadelphia in 1787

                                                                        bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                        bullThese men were collectively known as ldquoThe Framersrdquo

                                                                        Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                        Confederation bullDelegates quickly realized they were

                                                                        meeting to create a new government (with 3 branches)

                                                                        VA Plan v NJ Plan

                                                                        Several plans were proposed to correct the weaknesses of the Articles

                                                                        bullVirginia PlanbullNew Jersey Plan

                                                                        Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                        Virginia Plan ldquoLarge State Planrdquo

                                                                        bullStrong central govrsquotbullL Bicameral Congress

                                                                        Representation based on population

                                                                        bullE ldquoPresidentrdquo Chosen by Congress

                                                                        bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                        New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                        Each state would have = representationExpand power to tax amp regulate trade

                                                                        bullE Two-person presidencyChosen by Congress able to be removed

                                                                        bullJ Single Supreme CourtChosen by Executive

                                                                        Your Task

                                                                        Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                        them to choose your planUse catchy phrasesslogans and be sure to

                                                                        include the historical features of your plan (VA or NJ)

                                                                        At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                        Closure

                                                                        bullWhat do you think (or know) happens to these two plans

                                                                        States agreebull States agree to (ratify) the Constitution

                                                                        only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                        bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                        Quote

                                                                        bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                        bullWhat words stick to you in this quote Why

                                                                        Structure of Constitutionbull Provides basic

                                                                        framework for US government

                                                                        bull Outlines basic principles structure and processes

                                                                        bull Three partsmdashPreambleArticlesAmendments

                                                                        Structure of Constitution bull Preamble

                                                                        Introduction to the Constitution Lists ideas that the government should stand for

                                                                        and states purposes We the people of the United States in Order

                                                                        to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                        6 Purpose of Government bull Form a More Perfect Union

                                                                        bull Establish Justice bull Insure Domestic Tranquility

                                                                        bull Provide for the Common Defense

                                                                        bull Promote the General Welfare

                                                                        bull Secure the Blessings of Liberty

                                                                        For each phrase consider the followinghellip

                                                                        1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                        2 Is this phrase important today

                                                                        Structure of Constitution bullArticles

                                                                        Main body of the Constitution Lay out basic structure of the national

                                                                        governmentFurther broken down into sections and clauses

                                                                        Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                        Clause oaths of office

                                                                        Article VII Ratification

                                                                        Structure of Constitution

                                                                        bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                        Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                        bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                        Activity

                                                                        Activity bull STEP 1 bull Fill in the graphic

                                                                        organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                        bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                        Principle Explanation

                                                                        Popular Sovereignty Idea that people are the source of all power held by the government

                                                                        Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                        Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                        Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                        Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                        Federalism Divides the power between the central government and the States

                                                                        Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                        Question 1

                                                                        bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                        Popular Sovereignty

                                                                        Question 2

                                                                        bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                        Limited Government

                                                                        Question 3

                                                                        bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                        Limited Government

                                                                        Question 4

                                                                        bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                        SEPARATION OF POWERS

                                                                        Question 5

                                                                        bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                        Checks and Balances

                                                                        Question 6

                                                                        bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                        CHECKS AND BALANCES

                                                                        Question 7

                                                                        bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                        JUDICIAL REVIEW

                                                                        Question 8

                                                                        bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                        Federalism

                                                                        GroupsPopular

                                                                        SovereigntySeparation of

                                                                        PowersFederalism

                                                                        bull bull bull

                                                                        Judicial Review

                                                                        Limited Government

                                                                        Checks and Balances

                                                                        bull bull bull

                                                                        Separation of Powers

                                                                        bull Legislative branchmdashmakes the laws

                                                                        bull Executive branchmdashenforces the laws

                                                                        bull Judicial branchmdashinterprets the law

                                                                        Video

                                                                        bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                        Checks and Balances

                                                                        Checks and balances

                                                                        bullIn what was do the branches check on one another

                                                                        bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                        Basic Principles

                                                                        bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                        Self- Worth

                                                                        bull A recognition of the fundamental worth of every person

                                                                        bull The democratic process reflects the collective set of individuals who make up society

                                                                        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                        Compromise

                                                                        bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                        bullWhy is compromise important

                                                                        Individual Freedombull Right of the

                                                                        individual to be free as far as the freedom of all will allow

                                                                        bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                        Write your ownhellipbull Now that you know what the foundations of

                                                                        government arehellip Create your own Constitution (Or social contract)

                                                                        What do you think is important to include What do you think could be taken out

                                                                        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                        Preamble (brief introduction) Articles (what should it include based on what we

                                                                        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                        change it)

                                                                        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                        paper

                                                                        TED Talk

                                                                        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                        Closure

                                                                        bullExplain two principles of the constitution and how are they connected

                                                                        What is Economics

                                                                        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                        Important Parts of Economicsndash

                                                                        CHOICESSCARCITY

                                                                        Economics ishellip

                                                                        bullDependent upon assumptions

                                                                        bullDependent upon simplification of reality

                                                                        Back to our assumptionshellip

                                                                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                        bullAll sellers seek to maximize profits

                                                                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                        For the videohellip

                                                                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                        Post Videohellip

                                                                        bullDefine the main idea of the video in 4-5 words

                                                                        Advertisement

                                                                        bullKnowing some of the basics about what economics is and why we study ithellip

                                                                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                        3 images that represent different economic ideas

                                                                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                        1 slogan that represents why economics is an important course to take

                                                                        Political Cartoon Analysis

                                                                        Factors of Production bull LAND

                                                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                        soil minerals water and plants

                                                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                        into producing goodsservices

                                                                        bull CAPITAL Includes tools machines buildings and

                                                                        technologies

                                                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                        land labor and capital to produce goods and services

                                                                        TASK

                                                                        bullTask Why are entrepreneurs the driving force in our economy

                                                                        bullAnswer in 2-3 sentences

                                                                        The price ofhellip

                                                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                        Economic efficiency is achieved when all available resources are being used

                                                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                        1 What to produce

                                                                        bullShould it be military or civilian goods

                                                                        bullFood or clothingbullMedicine or movies

                                                                        2 How to produce it

                                                                        bullAutomated or manual labor

                                                                        bullExpensive or cheap materials

                                                                        bullDomestic or overseas labor

                                                                        3 For whom to produce it

                                                                        bullThe wealthy or the needybullThe sick or the healthy

                                                                        Application Activity

                                                                        bull In groups of 2-3 create your own country (name it please)

                                                                        bull With your countryrsquos name explain the Population geography and general population

                                                                        information (iehellipbull Choose 5 items for your country to produce and

                                                                        answer the three societal questions for eachALSO explain why this material would help your

                                                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                        withhellip Images representing what you produce and a

                                                                        slogan for why your country is awesome

                                                                        EQs

                                                                        bullHow does scarcity impact decision making

                                                                        Objectives amp Essential QuestionsbullObjectives

                                                                        I will be able to create and reflect on a budget given new economics content

                                                                        I will be able to understand scarcity and our mixed economy

                                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                        Group Activity Budget Activity

                                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                        How do we satisfy our economic wants

                                                                        bull We buy goods or services

                                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                                        How do we make goods amp services

                                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                        Production Equation

                                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                                        inputs output

                                                                        Economic Interdependence

                                                                        bullWhat does lsquointerdependencersquo mean

                                                                        bullIs our world becoming economic interdependent or independent

                                                                        bullEconomic Interdependence the actions of one part of the

                                                                        country (world) has an impact on what happens elsewhere

                                                                        Wants amp Needs gt

                                                                        Resources

                                                                        Because of scarcity we

                                                                        have to make choices

                                                                        How do we make a choice What do we give up

                                                                        What does this remind you of from our government unit

                                                                        Making Choices to Deal With Scarcity

                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                        decision over another

                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                        school today or should I sleep in

                                                                        Task Reflecting on Personal Trade-offshellip

                                                                        In the end what helped you decide amongst your choices

                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                        tradeoffs for that decision

                                                                        Be prepared to share

                                                                        Opportunity Cost

                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                        we want

                                                                        What else influences your choices

                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                        FinallyhellipWhy it Matters

                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                        better decision-maker

                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                        You always have to give something uphelliprdquo

                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                        decisions

                                                                        Visualizing the Relationshiphellip

                                                                        Limited Resources amp Unlimited Wants

                                                                        Scarcity

                                                                        Trade-offs (choices)

                                                                        Opportunity Costs

                                                                        ObjectivesEssential Questions

                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                        the three different types of economies

                                                                        bullEssential Question How do the different types of economies work

                                                                        How Can We Measure What We Gain and Lose When

                                                                        Making Choices

                                                                        Answer With a Production Possibilities Frontier

                                                                        Production Possibilities Frontier

                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                        PPF Assumptions

                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                        Production Possibilities Curve

                                                                        CD

                                                                        E

                                                                        OU

                                                                        TP

                                                                        UT

                                                                        OF

                                                                        CO

                                                                        NS

                                                                        UM

                                                                        ER

                                                                        GO

                                                                        OD

                                                                        S

                                                                        (un

                                                                        its

                                                                        per

                                                                        yea

                                                                        r)

                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                        A

                                                                        BO

                                                                        XF

                                                                        G

                                                                        Limited resources necessitate choices about WHAT to produce

                                                                        The Choices Nations Make

                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                        bullProduce military goods or consumer goods

                                                                        Economic Growth

                                                                        2000 production possibilities

                                                                        1900 production possibilities

                                                                        OU

                                                                        TP

                                                                        UT

                                                                        OF

                                                                        CO

                                                                        NS

                                                                        UM

                                                                        ER

                                                                        GO

                                                                        OD

                                                                        S(u

                                                                        nits

                                                                        per

                                                                        yea

                                                                        r)

                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                        Production possibilities increases with more resources and technology

                                                                        The Classic Guns and Butter example

                                                                        Guns

                                                                        Butter

                                                                        10000 20000 30000 40000 50000

                                                                        1000009500085000

                                                                        70000

                                                                        5000040000

                                                                        BA

                                                                        C

                                                                        D

                                                                        E

                                                                        F

                                                                        At point A all resources are used for butter

                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                        At point F all resources are used for Guns

                                                                        Productivitybull A PPF can help us see how efficient our

                                                                        choices are

                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                        Locations on a PPF

                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                        Food

                                                                        Computer

                                                                        4

                                                                        3

                                                                        2

                                                                        1

                                                                        1 2 3 4

                                                                        OC between 1 and 2 computers = 1 Food

                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                        Unit

                                                                        Constantly giving up the same quantity of food to get

                                                                        additional computers

                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                        Principle of Increasing Costs

                                                                        As a society produces more of one product the OC of producing

                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                        Economic Systems

                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                        Three Types of Economic Systems Command Traditional Market

                                                                        Jigsaw activity

                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                        Economic amp Social Goals of an Economic System

                                                                        bull Economic Freedom

                                                                        bull Economic Efficiency

                                                                        bull Economic Equity

                                                                        bull Economic Security

                                                                        Economic Stability

                                                                        Economic Growth

                                                                        Review of Economic Systems

                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                        What are the most important goals of each economic system

                                                                        bullTraditionalSecurity and

                                                                        StabilitybullCommand

                                                                        Equity and Security

                                                                        bullMARKETEfficiency and

                                                                        Freedom

                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                        at the expense of another (TRADEOFFS)

                                                                        Which economic system does the US use

                                                                        The American Economic System

                                                                        bullWe have a mixed market economy

                                                                        COMMAND MARKET

                                                                        The US mixed economybull In a mixed economyhellip

                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                        Think backhellip

                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                        2 Limited government

                                                                        3 Equal opportunity

                                                                        4 Competition

                                                                        5 Profit motive

                                                                        6 Property Rights

                                                                        7 Binding Contracts

                                                                        Understanding how all parts fit together

                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                        Shows interdependence between

                                                                        businesses and individuals

                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                        bull Using what you have learned this unit and using the textbook

                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                        Do you remember

                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                        democracy and mixed economy

                                                                        • Foundations of Government and Economics
                                                                        • On your blank piece of paperhellip
                                                                        • Slide 3
                                                                        • Warm-Up 1 - 9414
                                                                        • Introductory thoughts hellip
                                                                        • Slide 6
                                                                        • 2 How about to your life
                                                                        • Slide 8
                                                                        • Slide 9
                                                                        • Slide 10
                                                                        • Slide 11
                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                        • Warm up 2bndash In Journal-
                                                                        • Economist and Politician Assumptions
                                                                        • Individualism
                                                                        • Quote activity
                                                                        • Quote breakdown
                                                                        • Warm Up 3- Current Event 9814
                                                                        • Purpose of Government
                                                                        • Slide 20
                                                                        • 3 Theorists
                                                                        • Activity
                                                                        • Origins of American Government A customized government
                                                                        • Origins of American Government A customized government (2)
                                                                        • Origins of American Government A customized government (3)
                                                                        • With which theory do you agree more Why
                                                                        • The ldquoOriginal Dilemmardquo
                                                                        • Warm Up 5 Hobbes and Locke
                                                                        • Groups Block 2
                                                                        • Groups Block 4
                                                                        • Balloon Game
                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                        • Balloon Game Debriefing
                                                                        • Political Theories
                                                                        • Social Contract
                                                                        • Natural Rights
                                                                        • Democracy
                                                                        • Concepts of Government
                                                                        • Warm up 6 ndash 91114
                                                                        • Warm Up 7
                                                                        • And after the Constitution
                                                                        • Activity (2)
                                                                        • Picture Activity
                                                                        • Constitutional Convention
                                                                        • Purpose of the Convention
                                                                        • VA Plan v NJ Plan
                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                        • Your Task
                                                                        • Closure
                                                                        • States agree
                                                                        • Quote
                                                                        • Structure of Constitution
                                                                        • Structure of Constitution
                                                                        • 6 Purpose of Government
                                                                        • Structure of Constitution (2)
                                                                        • Structure of Constitution (3)
                                                                        • Principles of Constitution
                                                                        • Activity
                                                                        • Slide 60
                                                                        • Check for Understanding Six Principles
                                                                        • Question 1
                                                                        • Question 2
                                                                        • Question 3
                                                                        • Question 4
                                                                        • Question 5
                                                                        • Question 6
                                                                        • Question 7
                                                                        • Question 8
                                                                        • Groups
                                                                        • Separation of Powers
                                                                        • Video
                                                                        • Checks and Balances
                                                                        • Slide 74
                                                                        • Checks and balances
                                                                        • Basic Principles
                                                                        • Self- Worth
                                                                        • Equality
                                                                        • Compromise
                                                                        • Individual Freedom
                                                                        • Write your ownhellip
                                                                        • Slide 82
                                                                        • TED Talk
                                                                        • Closure
                                                                        • What is Economics
                                                                        • Economics ishellip
                                                                        • Back to our assumptionshellip
                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                        • For the videohellip
                                                                        • Slide 90
                                                                        • Post Videohellip
                                                                        • Advertisement
                                                                        • Political Cartoon Analysis
                                                                        • Factors of Production
                                                                        • TASK
                                                                        • The price ofhellip
                                                                        • Economic efficiency is achieved when all available resources ar
                                                                        • 1 What to produce
                                                                        • 2 How to produce it
                                                                        • 3 For whom to produce it
                                                                        • Application Activity
                                                                        • EQs
                                                                        • Objectives amp Essential Questions
                                                                        • Group Activity Budget Activity
                                                                        • Slide 105
                                                                        • How do we satisfy our economic wants
                                                                        • How do we make goods amp services
                                                                        • Economic Interdependence
                                                                        • Slide 109
                                                                        • Making Choices to Deal With Scarcity
                                                                        • Exampleshellip
                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                        • Opportunity Cost
                                                                        • What else influences your choices
                                                                        • Finallyhellip Why it Matters
                                                                        • Visualizing the Relationshiphellip
                                                                        • ObjectivesEssential Questions
                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                        • Production Possibilities Frontier
                                                                        • PPF Assumptions
                                                                        • Slide 121
                                                                        • Production Possibilities Curve
                                                                        • The Choices Nations Make
                                                                        • Economic Growth
                                                                        • The Classic Guns and Butter example
                                                                        • Productivity
                                                                        • Locations on a PPF
                                                                        • Slide 128
                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                        • Economic Systems
                                                                        • Jigsaw activity
                                                                        • Slide 132
                                                                        • Economic amp Social Goals of an Economic System
                                                                        • Review of Economic Systems
                                                                        • Slide 135
                                                                        • What are the most important goals of each economic system
                                                                        • Which economic system does the US use
                                                                        • The American Economic System
                                                                        • The US mixed economy
                                                                        • Slide 140
                                                                        • Think backhellip
                                                                        • US Economic System Characteristics
                                                                        • Slide 143
                                                                        • Understanding how all parts fit together
                                                                        • Marriage Vows
                                                                        • Do you remember
                                                                        • Slide 147

                                                                          Concepts of Governmentbull Ordered governmentmdashneed for order

                                                                          bull Limited governmentmdashbasic principle of government which states that government is restricted in what it may do and each individual has rights that government cannot take away

                                                                          bull Representative governmentmdashidea that government should serve the will of the people (democracy)

                                                                          Warm up 6 ndash 91114

                                                                          Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                                          are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                                          Warm Up 7

                                                                          bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                                          And after the ConstitutionFederalism vs Anti-Federalism

                                                                          bullFederalists believed Favored ratification believed Constitution was

                                                                          strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                                          bullAnti-Federalists believed Opposed ratification believed Constitution

                                                                          was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                                          Activity

                                                                          bullEach of you will get a card it either has a termperson or a definition on it

                                                                          bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                          bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                          secret with your partner

                                                                          Picture Activity

                                                                          bullGallery Walk

                                                                          Constitutional Convention

                                                                          bullMet in Philadelphia in 1787

                                                                          bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                          bullThese men were collectively known as ldquoThe Framersrdquo

                                                                          Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                          Confederation bullDelegates quickly realized they were

                                                                          meeting to create a new government (with 3 branches)

                                                                          VA Plan v NJ Plan

                                                                          Several plans were proposed to correct the weaknesses of the Articles

                                                                          bullVirginia PlanbullNew Jersey Plan

                                                                          Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                          Virginia Plan ldquoLarge State Planrdquo

                                                                          bullStrong central govrsquotbullL Bicameral Congress

                                                                          Representation based on population

                                                                          bullE ldquoPresidentrdquo Chosen by Congress

                                                                          bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                          New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                          Each state would have = representationExpand power to tax amp regulate trade

                                                                          bullE Two-person presidencyChosen by Congress able to be removed

                                                                          bullJ Single Supreme CourtChosen by Executive

                                                                          Your Task

                                                                          Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                          them to choose your planUse catchy phrasesslogans and be sure to

                                                                          include the historical features of your plan (VA or NJ)

                                                                          At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                          Closure

                                                                          bullWhat do you think (or know) happens to these two plans

                                                                          States agreebull States agree to (ratify) the Constitution

                                                                          only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                          bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                          Quote

                                                                          bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                          bullWhat words stick to you in this quote Why

                                                                          Structure of Constitutionbull Provides basic

                                                                          framework for US government

                                                                          bull Outlines basic principles structure and processes

                                                                          bull Three partsmdashPreambleArticlesAmendments

                                                                          Structure of Constitution bull Preamble

                                                                          Introduction to the Constitution Lists ideas that the government should stand for

                                                                          and states purposes We the people of the United States in Order

                                                                          to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                          6 Purpose of Government bull Form a More Perfect Union

                                                                          bull Establish Justice bull Insure Domestic Tranquility

                                                                          bull Provide for the Common Defense

                                                                          bull Promote the General Welfare

                                                                          bull Secure the Blessings of Liberty

                                                                          For each phrase consider the followinghellip

                                                                          1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                          2 Is this phrase important today

                                                                          Structure of Constitution bullArticles

                                                                          Main body of the Constitution Lay out basic structure of the national

                                                                          governmentFurther broken down into sections and clauses

                                                                          Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                          Clause oaths of office

                                                                          Article VII Ratification

                                                                          Structure of Constitution

                                                                          bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                          Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                          bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                          Activity

                                                                          Activity bull STEP 1 bull Fill in the graphic

                                                                          organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                          bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                          Principle Explanation

                                                                          Popular Sovereignty Idea that people are the source of all power held by the government

                                                                          Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                          Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                          Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                          Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                          Federalism Divides the power between the central government and the States

                                                                          Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                          Question 1

                                                                          bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                          Popular Sovereignty

                                                                          Question 2

                                                                          bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                          Limited Government

                                                                          Question 3

                                                                          bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                          Limited Government

                                                                          Question 4

                                                                          bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                          SEPARATION OF POWERS

                                                                          Question 5

                                                                          bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                          Checks and Balances

                                                                          Question 6

                                                                          bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                          CHECKS AND BALANCES

                                                                          Question 7

                                                                          bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                          JUDICIAL REVIEW

                                                                          Question 8

                                                                          bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                          Federalism

                                                                          GroupsPopular

                                                                          SovereigntySeparation of

                                                                          PowersFederalism

                                                                          bull bull bull

                                                                          Judicial Review

                                                                          Limited Government

                                                                          Checks and Balances

                                                                          bull bull bull

                                                                          Separation of Powers

                                                                          bull Legislative branchmdashmakes the laws

                                                                          bull Executive branchmdashenforces the laws

                                                                          bull Judicial branchmdashinterprets the law

                                                                          Video

                                                                          bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                          Checks and Balances

                                                                          Checks and balances

                                                                          bullIn what was do the branches check on one another

                                                                          bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                          Basic Principles

                                                                          bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                          Self- Worth

                                                                          bull A recognition of the fundamental worth of every person

                                                                          bull The democratic process reflects the collective set of individuals who make up society

                                                                          Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                          bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                          bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                          Compromise

                                                                          bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                          bullWhy is compromise important

                                                                          Individual Freedombull Right of the

                                                                          individual to be free as far as the freedom of all will allow

                                                                          bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                          Write your ownhellipbull Now that you know what the foundations of

                                                                          government arehellip Create your own Constitution (Or social contract)

                                                                          What do you think is important to include What do you think could be taken out

                                                                          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                          Preamble (brief introduction) Articles (what should it include based on what we

                                                                          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                          change it)

                                                                          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                          paper

                                                                          TED Talk

                                                                          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                          Closure

                                                                          bullExplain two principles of the constitution and how are they connected

                                                                          What is Economics

                                                                          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                          Important Parts of Economicsndash

                                                                          CHOICESSCARCITY

                                                                          Economics ishellip

                                                                          bullDependent upon assumptions

                                                                          bullDependent upon simplification of reality

                                                                          Back to our assumptionshellip

                                                                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                          bullAll sellers seek to maximize profits

                                                                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                          For the videohellip

                                                                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                          Post Videohellip

                                                                          bullDefine the main idea of the video in 4-5 words

                                                                          Advertisement

                                                                          bullKnowing some of the basics about what economics is and why we study ithellip

                                                                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                          3 images that represent different economic ideas

                                                                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                          1 slogan that represents why economics is an important course to take

                                                                          Political Cartoon Analysis

                                                                          Factors of Production bull LAND

                                                                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                          soil minerals water and plants

                                                                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                          into producing goodsservices

                                                                          bull CAPITAL Includes tools machines buildings and

                                                                          technologies

                                                                          bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                          land labor and capital to produce goods and services

                                                                          TASK

                                                                          bullTask Why are entrepreneurs the driving force in our economy

                                                                          bullAnswer in 2-3 sentences

                                                                          The price ofhellip

                                                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                          Economic efficiency is achieved when all available resources are being used

                                                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                          1 What to produce

                                                                          bullShould it be military or civilian goods

                                                                          bullFood or clothingbullMedicine or movies

                                                                          2 How to produce it

                                                                          bullAutomated or manual labor

                                                                          bullExpensive or cheap materials

                                                                          bullDomestic or overseas labor

                                                                          3 For whom to produce it

                                                                          bullThe wealthy or the needybullThe sick or the healthy

                                                                          Application Activity

                                                                          bull In groups of 2-3 create your own country (name it please)

                                                                          bull With your countryrsquos name explain the Population geography and general population

                                                                          information (iehellipbull Choose 5 items for your country to produce and

                                                                          answer the three societal questions for eachALSO explain why this material would help your

                                                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                          withhellip Images representing what you produce and a

                                                                          slogan for why your country is awesome

                                                                          EQs

                                                                          bullHow does scarcity impact decision making

                                                                          Objectives amp Essential QuestionsbullObjectives

                                                                          I will be able to create and reflect on a budget given new economics content

                                                                          I will be able to understand scarcity and our mixed economy

                                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                          Group Activity Budget Activity

                                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                          How do we satisfy our economic wants

                                                                          bull We buy goods or services

                                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                                          How do we make goods amp services

                                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                          Production Equation

                                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                                          inputs output

                                                                          Economic Interdependence

                                                                          bullWhat does lsquointerdependencersquo mean

                                                                          bullIs our world becoming economic interdependent or independent

                                                                          bullEconomic Interdependence the actions of one part of the

                                                                          country (world) has an impact on what happens elsewhere

                                                                          Wants amp Needs gt

                                                                          Resources

                                                                          Because of scarcity we

                                                                          have to make choices

                                                                          How do we make a choice What do we give up

                                                                          What does this remind you of from our government unit

                                                                          Making Choices to Deal With Scarcity

                                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                          decision over another

                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                          school today or should I sleep in

                                                                          Task Reflecting on Personal Trade-offshellip

                                                                          In the end what helped you decide amongst your choices

                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                          tradeoffs for that decision

                                                                          Be prepared to share

                                                                          Opportunity Cost

                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                          we want

                                                                          What else influences your choices

                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                          FinallyhellipWhy it Matters

                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                          better decision-maker

                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                          You always have to give something uphelliprdquo

                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                          decisions

                                                                          Visualizing the Relationshiphellip

                                                                          Limited Resources amp Unlimited Wants

                                                                          Scarcity

                                                                          Trade-offs (choices)

                                                                          Opportunity Costs

                                                                          ObjectivesEssential Questions

                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                          the three different types of economies

                                                                          bullEssential Question How do the different types of economies work

                                                                          How Can We Measure What We Gain and Lose When

                                                                          Making Choices

                                                                          Answer With a Production Possibilities Frontier

                                                                          Production Possibilities Frontier

                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                          PPF Assumptions

                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                          Production Possibilities Curve

                                                                          CD

                                                                          E

                                                                          OU

                                                                          TP

                                                                          UT

                                                                          OF

                                                                          CO

                                                                          NS

                                                                          UM

                                                                          ER

                                                                          GO

                                                                          OD

                                                                          S

                                                                          (un

                                                                          its

                                                                          per

                                                                          yea

                                                                          r)

                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                          A

                                                                          BO

                                                                          XF

                                                                          G

                                                                          Limited resources necessitate choices about WHAT to produce

                                                                          The Choices Nations Make

                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                          bullProduce military goods or consumer goods

                                                                          Economic Growth

                                                                          2000 production possibilities

                                                                          1900 production possibilities

                                                                          OU

                                                                          TP

                                                                          UT

                                                                          OF

                                                                          CO

                                                                          NS

                                                                          UM

                                                                          ER

                                                                          GO

                                                                          OD

                                                                          S(u

                                                                          nits

                                                                          per

                                                                          yea

                                                                          r)

                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                          Production possibilities increases with more resources and technology

                                                                          The Classic Guns and Butter example

                                                                          Guns

                                                                          Butter

                                                                          10000 20000 30000 40000 50000

                                                                          1000009500085000

                                                                          70000

                                                                          5000040000

                                                                          BA

                                                                          C

                                                                          D

                                                                          E

                                                                          F

                                                                          At point A all resources are used for butter

                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                          At point F all resources are used for Guns

                                                                          Productivitybull A PPF can help us see how efficient our

                                                                          choices are

                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                          Locations on a PPF

                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                          Food

                                                                          Computer

                                                                          4

                                                                          3

                                                                          2

                                                                          1

                                                                          1 2 3 4

                                                                          OC between 1 and 2 computers = 1 Food

                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                          Unit

                                                                          Constantly giving up the same quantity of food to get

                                                                          additional computers

                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                          Principle of Increasing Costs

                                                                          As a society produces more of one product the OC of producing

                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                          Economic Systems

                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                          Three Types of Economic Systems Command Traditional Market

                                                                          Jigsaw activity

                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                          Economic amp Social Goals of an Economic System

                                                                          bull Economic Freedom

                                                                          bull Economic Efficiency

                                                                          bull Economic Equity

                                                                          bull Economic Security

                                                                          Economic Stability

                                                                          Economic Growth

                                                                          Review of Economic Systems

                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                          What are the most important goals of each economic system

                                                                          bullTraditionalSecurity and

                                                                          StabilitybullCommand

                                                                          Equity and Security

                                                                          bullMARKETEfficiency and

                                                                          Freedom

                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                          at the expense of another (TRADEOFFS)

                                                                          Which economic system does the US use

                                                                          The American Economic System

                                                                          bullWe have a mixed market economy

                                                                          COMMAND MARKET

                                                                          The US mixed economybull In a mixed economyhellip

                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                          Think backhellip

                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                          2 Limited government

                                                                          3 Equal opportunity

                                                                          4 Competition

                                                                          5 Profit motive

                                                                          6 Property Rights

                                                                          7 Binding Contracts

                                                                          Understanding how all parts fit together

                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                          Shows interdependence between

                                                                          businesses and individuals

                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                          bull Using what you have learned this unit and using the textbook

                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                          Do you remember

                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                          democracy and mixed economy

                                                                          • Foundations of Government and Economics
                                                                          • On your blank piece of paperhellip
                                                                          • Slide 3
                                                                          • Warm-Up 1 - 9414
                                                                          • Introductory thoughts hellip
                                                                          • Slide 6
                                                                          • 2 How about to your life
                                                                          • Slide 8
                                                                          • Slide 9
                                                                          • Slide 10
                                                                          • Slide 11
                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                          • Warm up 2bndash In Journal-
                                                                          • Economist and Politician Assumptions
                                                                          • Individualism
                                                                          • Quote activity
                                                                          • Quote breakdown
                                                                          • Warm Up 3- Current Event 9814
                                                                          • Purpose of Government
                                                                          • Slide 20
                                                                          • 3 Theorists
                                                                          • Activity
                                                                          • Origins of American Government A customized government
                                                                          • Origins of American Government A customized government (2)
                                                                          • Origins of American Government A customized government (3)
                                                                          • With which theory do you agree more Why
                                                                          • The ldquoOriginal Dilemmardquo
                                                                          • Warm Up 5 Hobbes and Locke
                                                                          • Groups Block 2
                                                                          • Groups Block 4
                                                                          • Balloon Game
                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                          • Balloon Game Debriefing
                                                                          • Political Theories
                                                                          • Social Contract
                                                                          • Natural Rights
                                                                          • Democracy
                                                                          • Concepts of Government
                                                                          • Warm up 6 ndash 91114
                                                                          • Warm Up 7
                                                                          • And after the Constitution
                                                                          • Activity (2)
                                                                          • Picture Activity
                                                                          • Constitutional Convention
                                                                          • Purpose of the Convention
                                                                          • VA Plan v NJ Plan
                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                          • Your Task
                                                                          • Closure
                                                                          • States agree
                                                                          • Quote
                                                                          • Structure of Constitution
                                                                          • Structure of Constitution
                                                                          • 6 Purpose of Government
                                                                          • Structure of Constitution (2)
                                                                          • Structure of Constitution (3)
                                                                          • Principles of Constitution
                                                                          • Activity
                                                                          • Slide 60
                                                                          • Check for Understanding Six Principles
                                                                          • Question 1
                                                                          • Question 2
                                                                          • Question 3
                                                                          • Question 4
                                                                          • Question 5
                                                                          • Question 6
                                                                          • Question 7
                                                                          • Question 8
                                                                          • Groups
                                                                          • Separation of Powers
                                                                          • Video
                                                                          • Checks and Balances
                                                                          • Slide 74
                                                                          • Checks and balances
                                                                          • Basic Principles
                                                                          • Self- Worth
                                                                          • Equality
                                                                          • Compromise
                                                                          • Individual Freedom
                                                                          • Write your ownhellip
                                                                          • Slide 82
                                                                          • TED Talk
                                                                          • Closure
                                                                          • What is Economics
                                                                          • Economics ishellip
                                                                          • Back to our assumptionshellip
                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                          • For the videohellip
                                                                          • Slide 90
                                                                          • Post Videohellip
                                                                          • Advertisement
                                                                          • Political Cartoon Analysis
                                                                          • Factors of Production
                                                                          • TASK
                                                                          • The price ofhellip
                                                                          • Economic efficiency is achieved when all available resources ar
                                                                          • 1 What to produce
                                                                          • 2 How to produce it
                                                                          • 3 For whom to produce it
                                                                          • Application Activity
                                                                          • EQs
                                                                          • Objectives amp Essential Questions
                                                                          • Group Activity Budget Activity
                                                                          • Slide 105
                                                                          • How do we satisfy our economic wants
                                                                          • How do we make goods amp services
                                                                          • Economic Interdependence
                                                                          • Slide 109
                                                                          • Making Choices to Deal With Scarcity
                                                                          • Exampleshellip
                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                          • Opportunity Cost
                                                                          • What else influences your choices
                                                                          • Finallyhellip Why it Matters
                                                                          • Visualizing the Relationshiphellip
                                                                          • ObjectivesEssential Questions
                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                          • Production Possibilities Frontier
                                                                          • PPF Assumptions
                                                                          • Slide 121
                                                                          • Production Possibilities Curve
                                                                          • The Choices Nations Make
                                                                          • Economic Growth
                                                                          • The Classic Guns and Butter example
                                                                          • Productivity
                                                                          • Locations on a PPF
                                                                          • Slide 128
                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                          • Economic Systems
                                                                          • Jigsaw activity
                                                                          • Slide 132
                                                                          • Economic amp Social Goals of an Economic System
                                                                          • Review of Economic Systems
                                                                          • Slide 135
                                                                          • What are the most important goals of each economic system
                                                                          • Which economic system does the US use
                                                                          • The American Economic System
                                                                          • The US mixed economy
                                                                          • Slide 140
                                                                          • Think backhellip
                                                                          • US Economic System Characteristics
                                                                          • Slide 143
                                                                          • Understanding how all parts fit together
                                                                          • Marriage Vows
                                                                          • Do you remember
                                                                          • Slide 147

                                                                            Warm up 6 ndash 91114

                                                                            Do you feel the Patriot Act ( law that allows government to ldquoinvaderdquo your privacy if reason to believe you

                                                                            are involved in questionable behavior) is a violation of your natural rights or a necessary restriction of your natural rights Why

                                                                            Warm Up 7

                                                                            bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                                            And after the ConstitutionFederalism vs Anti-Federalism

                                                                            bullFederalists believed Favored ratification believed Constitution was

                                                                            strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                                            bullAnti-Federalists believed Opposed ratification believed Constitution

                                                                            was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                                            Activity

                                                                            bullEach of you will get a card it either has a termperson or a definition on it

                                                                            bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                            bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                            secret with your partner

                                                                            Picture Activity

                                                                            bullGallery Walk

                                                                            Constitutional Convention

                                                                            bullMet in Philadelphia in 1787

                                                                            bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                            bullThese men were collectively known as ldquoThe Framersrdquo

                                                                            Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                            Confederation bullDelegates quickly realized they were

                                                                            meeting to create a new government (with 3 branches)

                                                                            VA Plan v NJ Plan

                                                                            Several plans were proposed to correct the weaknesses of the Articles

                                                                            bullVirginia PlanbullNew Jersey Plan

                                                                            Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                            Virginia Plan ldquoLarge State Planrdquo

                                                                            bullStrong central govrsquotbullL Bicameral Congress

                                                                            Representation based on population

                                                                            bullE ldquoPresidentrdquo Chosen by Congress

                                                                            bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                            New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                            Each state would have = representationExpand power to tax amp regulate trade

                                                                            bullE Two-person presidencyChosen by Congress able to be removed

                                                                            bullJ Single Supreme CourtChosen by Executive

                                                                            Your Task

                                                                            Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                            them to choose your planUse catchy phrasesslogans and be sure to

                                                                            include the historical features of your plan (VA or NJ)

                                                                            At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                            Closure

                                                                            bullWhat do you think (or know) happens to these two plans

                                                                            States agreebull States agree to (ratify) the Constitution

                                                                            only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                            bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                            Quote

                                                                            bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                            bullWhat words stick to you in this quote Why

                                                                            Structure of Constitutionbull Provides basic

                                                                            framework for US government

                                                                            bull Outlines basic principles structure and processes

                                                                            bull Three partsmdashPreambleArticlesAmendments

                                                                            Structure of Constitution bull Preamble

                                                                            Introduction to the Constitution Lists ideas that the government should stand for

                                                                            and states purposes We the people of the United States in Order

                                                                            to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                            6 Purpose of Government bull Form a More Perfect Union

                                                                            bull Establish Justice bull Insure Domestic Tranquility

                                                                            bull Provide for the Common Defense

                                                                            bull Promote the General Welfare

                                                                            bull Secure the Blessings of Liberty

                                                                            For each phrase consider the followinghellip

                                                                            1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                            2 Is this phrase important today

                                                                            Structure of Constitution bullArticles

                                                                            Main body of the Constitution Lay out basic structure of the national

                                                                            governmentFurther broken down into sections and clauses

                                                                            Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                            Clause oaths of office

                                                                            Article VII Ratification

                                                                            Structure of Constitution

                                                                            bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                            Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                            bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                            Activity

                                                                            Activity bull STEP 1 bull Fill in the graphic

                                                                            organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                            bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                            Principle Explanation

                                                                            Popular Sovereignty Idea that people are the source of all power held by the government

                                                                            Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                            Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                            Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                            Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                            Federalism Divides the power between the central government and the States

                                                                            Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                            Question 1

                                                                            bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                            Popular Sovereignty

                                                                            Question 2

                                                                            bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                            Limited Government

                                                                            Question 3

                                                                            bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                            Limited Government

                                                                            Question 4

                                                                            bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                            SEPARATION OF POWERS

                                                                            Question 5

                                                                            bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                            Checks and Balances

                                                                            Question 6

                                                                            bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                            CHECKS AND BALANCES

                                                                            Question 7

                                                                            bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                            JUDICIAL REVIEW

                                                                            Question 8

                                                                            bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                            Federalism

                                                                            GroupsPopular

                                                                            SovereigntySeparation of

                                                                            PowersFederalism

                                                                            bull bull bull

                                                                            Judicial Review

                                                                            Limited Government

                                                                            Checks and Balances

                                                                            bull bull bull

                                                                            Separation of Powers

                                                                            bull Legislative branchmdashmakes the laws

                                                                            bull Executive branchmdashenforces the laws

                                                                            bull Judicial branchmdashinterprets the law

                                                                            Video

                                                                            bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                            Checks and Balances

                                                                            Checks and balances

                                                                            bullIn what was do the branches check on one another

                                                                            bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                            Basic Principles

                                                                            bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                            Self- Worth

                                                                            bull A recognition of the fundamental worth of every person

                                                                            bull The democratic process reflects the collective set of individuals who make up society

                                                                            Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                            bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                            bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                            Compromise

                                                                            bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                            bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                            bullWhy is compromise important

                                                                            Individual Freedombull Right of the

                                                                            individual to be free as far as the freedom of all will allow

                                                                            bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                            Write your ownhellipbull Now that you know what the foundations of

                                                                            government arehellip Create your own Constitution (Or social contract)

                                                                            What do you think is important to include What do you think could be taken out

                                                                            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                            Preamble (brief introduction) Articles (what should it include based on what we

                                                                            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                            change it)

                                                                            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                            paper

                                                                            TED Talk

                                                                            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                            Closure

                                                                            bullExplain two principles of the constitution and how are they connected

                                                                            What is Economics

                                                                            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                            Important Parts of Economicsndash

                                                                            CHOICESSCARCITY

                                                                            Economics ishellip

                                                                            bullDependent upon assumptions

                                                                            bullDependent upon simplification of reality

                                                                            Back to our assumptionshellip

                                                                            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                            bullAll sellers seek to maximize profits

                                                                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                            For the videohellip

                                                                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                            Post Videohellip

                                                                            bullDefine the main idea of the video in 4-5 words

                                                                            Advertisement

                                                                            bullKnowing some of the basics about what economics is and why we study ithellip

                                                                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                            3 images that represent different economic ideas

                                                                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                            1 slogan that represents why economics is an important course to take

                                                                            Political Cartoon Analysis

                                                                            Factors of Production bull LAND

                                                                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                            soil minerals water and plants

                                                                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                            into producing goodsservices

                                                                            bull CAPITAL Includes tools machines buildings and

                                                                            technologies

                                                                            bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                            land labor and capital to produce goods and services

                                                                            TASK

                                                                            bullTask Why are entrepreneurs the driving force in our economy

                                                                            bullAnswer in 2-3 sentences

                                                                            The price ofhellip

                                                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                            Economic efficiency is achieved when all available resources are being used

                                                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                            1 What to produce

                                                                            bullShould it be military or civilian goods

                                                                            bullFood or clothingbullMedicine or movies

                                                                            2 How to produce it

                                                                            bullAutomated or manual labor

                                                                            bullExpensive or cheap materials

                                                                            bullDomestic or overseas labor

                                                                            3 For whom to produce it

                                                                            bullThe wealthy or the needybullThe sick or the healthy

                                                                            Application Activity

                                                                            bull In groups of 2-3 create your own country (name it please)

                                                                            bull With your countryrsquos name explain the Population geography and general population

                                                                            information (iehellipbull Choose 5 items for your country to produce and

                                                                            answer the three societal questions for eachALSO explain why this material would help your

                                                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                            withhellip Images representing what you produce and a

                                                                            slogan for why your country is awesome

                                                                            EQs

                                                                            bullHow does scarcity impact decision making

                                                                            Objectives amp Essential QuestionsbullObjectives

                                                                            I will be able to create and reflect on a budget given new economics content

                                                                            I will be able to understand scarcity and our mixed economy

                                                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                            Group Activity Budget Activity

                                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                            How do we satisfy our economic wants

                                                                            bull We buy goods or services

                                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                                            How do we make goods amp services

                                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                            Production Equation

                                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                                            inputs output

                                                                            Economic Interdependence

                                                                            bullWhat does lsquointerdependencersquo mean

                                                                            bullIs our world becoming economic interdependent or independent

                                                                            bullEconomic Interdependence the actions of one part of the

                                                                            country (world) has an impact on what happens elsewhere

                                                                            Wants amp Needs gt

                                                                            Resources

                                                                            Because of scarcity we

                                                                            have to make choices

                                                                            How do we make a choice What do we give up

                                                                            What does this remind you of from our government unit

                                                                            Making Choices to Deal With Scarcity

                                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                            decision over another

                                                                            ExampleshellipbullSome choices are easy to makehellip

                                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                            school today or should I sleep in

                                                                            Task Reflecting on Personal Trade-offshellip

                                                                            In the end what helped you decide amongst your choices

                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                            tradeoffs for that decision

                                                                            Be prepared to share

                                                                            Opportunity Cost

                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                            we want

                                                                            What else influences your choices

                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                            FinallyhellipWhy it Matters

                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                            better decision-maker

                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                            You always have to give something uphelliprdquo

                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                            decisions

                                                                            Visualizing the Relationshiphellip

                                                                            Limited Resources amp Unlimited Wants

                                                                            Scarcity

                                                                            Trade-offs (choices)

                                                                            Opportunity Costs

                                                                            ObjectivesEssential Questions

                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                            the three different types of economies

                                                                            bullEssential Question How do the different types of economies work

                                                                            How Can We Measure What We Gain and Lose When

                                                                            Making Choices

                                                                            Answer With a Production Possibilities Frontier

                                                                            Production Possibilities Frontier

                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                            PPF Assumptions

                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                            Production Possibilities Curve

                                                                            CD

                                                                            E

                                                                            OU

                                                                            TP

                                                                            UT

                                                                            OF

                                                                            CO

                                                                            NS

                                                                            UM

                                                                            ER

                                                                            GO

                                                                            OD

                                                                            S

                                                                            (un

                                                                            its

                                                                            per

                                                                            yea

                                                                            r)

                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                            A

                                                                            BO

                                                                            XF

                                                                            G

                                                                            Limited resources necessitate choices about WHAT to produce

                                                                            The Choices Nations Make

                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                            bullProduce military goods or consumer goods

                                                                            Economic Growth

                                                                            2000 production possibilities

                                                                            1900 production possibilities

                                                                            OU

                                                                            TP

                                                                            UT

                                                                            OF

                                                                            CO

                                                                            NS

                                                                            UM

                                                                            ER

                                                                            GO

                                                                            OD

                                                                            S(u

                                                                            nits

                                                                            per

                                                                            yea

                                                                            r)

                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                            Production possibilities increases with more resources and technology

                                                                            The Classic Guns and Butter example

                                                                            Guns

                                                                            Butter

                                                                            10000 20000 30000 40000 50000

                                                                            1000009500085000

                                                                            70000

                                                                            5000040000

                                                                            BA

                                                                            C

                                                                            D

                                                                            E

                                                                            F

                                                                            At point A all resources are used for butter

                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                            At point F all resources are used for Guns

                                                                            Productivitybull A PPF can help us see how efficient our

                                                                            choices are

                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                            Locations on a PPF

                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                            Food

                                                                            Computer

                                                                            4

                                                                            3

                                                                            2

                                                                            1

                                                                            1 2 3 4

                                                                            OC between 1 and 2 computers = 1 Food

                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                            Unit

                                                                            Constantly giving up the same quantity of food to get

                                                                            additional computers

                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                            Principle of Increasing Costs

                                                                            As a society produces more of one product the OC of producing

                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                            Economic Systems

                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                            Three Types of Economic Systems Command Traditional Market

                                                                            Jigsaw activity

                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                            Economic amp Social Goals of an Economic System

                                                                            bull Economic Freedom

                                                                            bull Economic Efficiency

                                                                            bull Economic Equity

                                                                            bull Economic Security

                                                                            Economic Stability

                                                                            Economic Growth

                                                                            Review of Economic Systems

                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                            What are the most important goals of each economic system

                                                                            bullTraditionalSecurity and

                                                                            StabilitybullCommand

                                                                            Equity and Security

                                                                            bullMARKETEfficiency and

                                                                            Freedom

                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                            at the expense of another (TRADEOFFS)

                                                                            Which economic system does the US use

                                                                            The American Economic System

                                                                            bullWe have a mixed market economy

                                                                            COMMAND MARKET

                                                                            The US mixed economybull In a mixed economyhellip

                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                            Think backhellip

                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                            2 Limited government

                                                                            3 Equal opportunity

                                                                            4 Competition

                                                                            5 Profit motive

                                                                            6 Property Rights

                                                                            7 Binding Contracts

                                                                            Understanding how all parts fit together

                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                            Shows interdependence between

                                                                            businesses and individuals

                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                            bull Using what you have learned this unit and using the textbook

                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                            Do you remember

                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                            democracy and mixed economy

                                                                            • Foundations of Government and Economics
                                                                            • On your blank piece of paperhellip
                                                                            • Slide 3
                                                                            • Warm-Up 1 - 9414
                                                                            • Introductory thoughts hellip
                                                                            • Slide 6
                                                                            • 2 How about to your life
                                                                            • Slide 8
                                                                            • Slide 9
                                                                            • Slide 10
                                                                            • Slide 11
                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                            • Warm up 2bndash In Journal-
                                                                            • Economist and Politician Assumptions
                                                                            • Individualism
                                                                            • Quote activity
                                                                            • Quote breakdown
                                                                            • Warm Up 3- Current Event 9814
                                                                            • Purpose of Government
                                                                            • Slide 20
                                                                            • 3 Theorists
                                                                            • Activity
                                                                            • Origins of American Government A customized government
                                                                            • Origins of American Government A customized government (2)
                                                                            • Origins of American Government A customized government (3)
                                                                            • With which theory do you agree more Why
                                                                            • The ldquoOriginal Dilemmardquo
                                                                            • Warm Up 5 Hobbes and Locke
                                                                            • Groups Block 2
                                                                            • Groups Block 4
                                                                            • Balloon Game
                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                            • Balloon Game Debriefing
                                                                            • Political Theories
                                                                            • Social Contract
                                                                            • Natural Rights
                                                                            • Democracy
                                                                            • Concepts of Government
                                                                            • Warm up 6 ndash 91114
                                                                            • Warm Up 7
                                                                            • And after the Constitution
                                                                            • Activity (2)
                                                                            • Picture Activity
                                                                            • Constitutional Convention
                                                                            • Purpose of the Convention
                                                                            • VA Plan v NJ Plan
                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                            • Your Task
                                                                            • Closure
                                                                            • States agree
                                                                            • Quote
                                                                            • Structure of Constitution
                                                                            • Structure of Constitution
                                                                            • 6 Purpose of Government
                                                                            • Structure of Constitution (2)
                                                                            • Structure of Constitution (3)
                                                                            • Principles of Constitution
                                                                            • Activity
                                                                            • Slide 60
                                                                            • Check for Understanding Six Principles
                                                                            • Question 1
                                                                            • Question 2
                                                                            • Question 3
                                                                            • Question 4
                                                                            • Question 5
                                                                            • Question 6
                                                                            • Question 7
                                                                            • Question 8
                                                                            • Groups
                                                                            • Separation of Powers
                                                                            • Video
                                                                            • Checks and Balances
                                                                            • Slide 74
                                                                            • Checks and balances
                                                                            • Basic Principles
                                                                            • Self- Worth
                                                                            • Equality
                                                                            • Compromise
                                                                            • Individual Freedom
                                                                            • Write your ownhellip
                                                                            • Slide 82
                                                                            • TED Talk
                                                                            • Closure
                                                                            • What is Economics
                                                                            • Economics ishellip
                                                                            • Back to our assumptionshellip
                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                            • For the videohellip
                                                                            • Slide 90
                                                                            • Post Videohellip
                                                                            • Advertisement
                                                                            • Political Cartoon Analysis
                                                                            • Factors of Production
                                                                            • TASK
                                                                            • The price ofhellip
                                                                            • Economic efficiency is achieved when all available resources ar
                                                                            • 1 What to produce
                                                                            • 2 How to produce it
                                                                            • 3 For whom to produce it
                                                                            • Application Activity
                                                                            • EQs
                                                                            • Objectives amp Essential Questions
                                                                            • Group Activity Budget Activity
                                                                            • Slide 105
                                                                            • How do we satisfy our economic wants
                                                                            • How do we make goods amp services
                                                                            • Economic Interdependence
                                                                            • Slide 109
                                                                            • Making Choices to Deal With Scarcity
                                                                            • Exampleshellip
                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                            • Opportunity Cost
                                                                            • What else influences your choices
                                                                            • Finallyhellip Why it Matters
                                                                            • Visualizing the Relationshiphellip
                                                                            • ObjectivesEssential Questions
                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                            • Production Possibilities Frontier
                                                                            • PPF Assumptions
                                                                            • Slide 121
                                                                            • Production Possibilities Curve
                                                                            • The Choices Nations Make
                                                                            • Economic Growth
                                                                            • The Classic Guns and Butter example
                                                                            • Productivity
                                                                            • Locations on a PPF
                                                                            • Slide 128
                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                            • Economic Systems
                                                                            • Jigsaw activity
                                                                            • Slide 132
                                                                            • Economic amp Social Goals of an Economic System
                                                                            • Review of Economic Systems
                                                                            • Slide 135
                                                                            • What are the most important goals of each economic system
                                                                            • Which economic system does the US use
                                                                            • The American Economic System
                                                                            • The US mixed economy
                                                                            • Slide 140
                                                                            • Think backhellip
                                                                            • US Economic System Characteristics
                                                                            • Slide 143
                                                                            • Understanding how all parts fit together
                                                                            • Marriage Vows
                                                                            • Do you remember
                                                                            • Slide 147

                                                                              Warm Up 7

                                                                              bullAre there any rights that you think the government should be able to take away from you Under what conditions should they be allowed to do this

                                                                              And after the ConstitutionFederalism vs Anti-Federalism

                                                                              bullFederalists believed Favored ratification believed Constitution was

                                                                              strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                                              bullAnti-Federalists believed Opposed ratification believed Constitution

                                                                              was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                                              Activity

                                                                              bullEach of you will get a card it either has a termperson or a definition on it

                                                                              bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                              bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                              secret with your partner

                                                                              Picture Activity

                                                                              bullGallery Walk

                                                                              Constitutional Convention

                                                                              bullMet in Philadelphia in 1787

                                                                              bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                              bullThese men were collectively known as ldquoThe Framersrdquo

                                                                              Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                              Confederation bullDelegates quickly realized they were

                                                                              meeting to create a new government (with 3 branches)

                                                                              VA Plan v NJ Plan

                                                                              Several plans were proposed to correct the weaknesses of the Articles

                                                                              bullVirginia PlanbullNew Jersey Plan

                                                                              Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                              Virginia Plan ldquoLarge State Planrdquo

                                                                              bullStrong central govrsquotbullL Bicameral Congress

                                                                              Representation based on population

                                                                              bullE ldquoPresidentrdquo Chosen by Congress

                                                                              bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                              New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                              Each state would have = representationExpand power to tax amp regulate trade

                                                                              bullE Two-person presidencyChosen by Congress able to be removed

                                                                              bullJ Single Supreme CourtChosen by Executive

                                                                              Your Task

                                                                              Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                              them to choose your planUse catchy phrasesslogans and be sure to

                                                                              include the historical features of your plan (VA or NJ)

                                                                              At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                              Closure

                                                                              bullWhat do you think (or know) happens to these two plans

                                                                              States agreebull States agree to (ratify) the Constitution

                                                                              only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                              bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                              Quote

                                                                              bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                              bullWhat words stick to you in this quote Why

                                                                              Structure of Constitutionbull Provides basic

                                                                              framework for US government

                                                                              bull Outlines basic principles structure and processes

                                                                              bull Three partsmdashPreambleArticlesAmendments

                                                                              Structure of Constitution bull Preamble

                                                                              Introduction to the Constitution Lists ideas that the government should stand for

                                                                              and states purposes We the people of the United States in Order

                                                                              to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                              6 Purpose of Government bull Form a More Perfect Union

                                                                              bull Establish Justice bull Insure Domestic Tranquility

                                                                              bull Provide for the Common Defense

                                                                              bull Promote the General Welfare

                                                                              bull Secure the Blessings of Liberty

                                                                              For each phrase consider the followinghellip

                                                                              1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                              2 Is this phrase important today

                                                                              Structure of Constitution bullArticles

                                                                              Main body of the Constitution Lay out basic structure of the national

                                                                              governmentFurther broken down into sections and clauses

                                                                              Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                              Clause oaths of office

                                                                              Article VII Ratification

                                                                              Structure of Constitution

                                                                              bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                              Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                              bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                              Activity

                                                                              Activity bull STEP 1 bull Fill in the graphic

                                                                              organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                              bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                              Principle Explanation

                                                                              Popular Sovereignty Idea that people are the source of all power held by the government

                                                                              Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                              Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                              Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                              Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                              Federalism Divides the power between the central government and the States

                                                                              Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                              Question 1

                                                                              bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                              Popular Sovereignty

                                                                              Question 2

                                                                              bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                              Limited Government

                                                                              Question 3

                                                                              bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                              Limited Government

                                                                              Question 4

                                                                              bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                              SEPARATION OF POWERS

                                                                              Question 5

                                                                              bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                              Checks and Balances

                                                                              Question 6

                                                                              bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                              CHECKS AND BALANCES

                                                                              Question 7

                                                                              bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                              JUDICIAL REVIEW

                                                                              Question 8

                                                                              bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                              Federalism

                                                                              GroupsPopular

                                                                              SovereigntySeparation of

                                                                              PowersFederalism

                                                                              bull bull bull

                                                                              Judicial Review

                                                                              Limited Government

                                                                              Checks and Balances

                                                                              bull bull bull

                                                                              Separation of Powers

                                                                              bull Legislative branchmdashmakes the laws

                                                                              bull Executive branchmdashenforces the laws

                                                                              bull Judicial branchmdashinterprets the law

                                                                              Video

                                                                              bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                              Checks and Balances

                                                                              Checks and balances

                                                                              bullIn what was do the branches check on one another

                                                                              bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                              Basic Principles

                                                                              bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                              Self- Worth

                                                                              bull A recognition of the fundamental worth of every person

                                                                              bull The democratic process reflects the collective set of individuals who make up society

                                                                              Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                              bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                              bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                              Compromise

                                                                              bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                              bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                              bullWhy is compromise important

                                                                              Individual Freedombull Right of the

                                                                              individual to be free as far as the freedom of all will allow

                                                                              bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                              Write your ownhellipbull Now that you know what the foundations of

                                                                              government arehellip Create your own Constitution (Or social contract)

                                                                              What do you think is important to include What do you think could be taken out

                                                                              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                              Preamble (brief introduction) Articles (what should it include based on what we

                                                                              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                              change it)

                                                                              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                              paper

                                                                              TED Talk

                                                                              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                              Closure

                                                                              bullExplain two principles of the constitution and how are they connected

                                                                              What is Economics

                                                                              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                              Important Parts of Economicsndash

                                                                              CHOICESSCARCITY

                                                                              Economics ishellip

                                                                              bullDependent upon assumptions

                                                                              bullDependent upon simplification of reality

                                                                              Back to our assumptionshellip

                                                                              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                              bullAll sellers seek to maximize profits

                                                                              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                              For the videohellip

                                                                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                              Post Videohellip

                                                                              bullDefine the main idea of the video in 4-5 words

                                                                              Advertisement

                                                                              bullKnowing some of the basics about what economics is and why we study ithellip

                                                                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                              3 images that represent different economic ideas

                                                                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                              1 slogan that represents why economics is an important course to take

                                                                              Political Cartoon Analysis

                                                                              Factors of Production bull LAND

                                                                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                              soil minerals water and plants

                                                                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                              into producing goodsservices

                                                                              bull CAPITAL Includes tools machines buildings and

                                                                              technologies

                                                                              bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                              land labor and capital to produce goods and services

                                                                              TASK

                                                                              bullTask Why are entrepreneurs the driving force in our economy

                                                                              bullAnswer in 2-3 sentences

                                                                              The price ofhellip

                                                                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                              Economic efficiency is achieved when all available resources are being used

                                                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                              1 What to produce

                                                                              bullShould it be military or civilian goods

                                                                              bullFood or clothingbullMedicine or movies

                                                                              2 How to produce it

                                                                              bullAutomated or manual labor

                                                                              bullExpensive or cheap materials

                                                                              bullDomestic or overseas labor

                                                                              3 For whom to produce it

                                                                              bullThe wealthy or the needybullThe sick or the healthy

                                                                              Application Activity

                                                                              bull In groups of 2-3 create your own country (name it please)

                                                                              bull With your countryrsquos name explain the Population geography and general population

                                                                              information (iehellipbull Choose 5 items for your country to produce and

                                                                              answer the three societal questions for eachALSO explain why this material would help your

                                                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                              withhellip Images representing what you produce and a

                                                                              slogan for why your country is awesome

                                                                              EQs

                                                                              bullHow does scarcity impact decision making

                                                                              Objectives amp Essential QuestionsbullObjectives

                                                                              I will be able to create and reflect on a budget given new economics content

                                                                              I will be able to understand scarcity and our mixed economy

                                                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                              Group Activity Budget Activity

                                                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                              How do we satisfy our economic wants

                                                                              bull We buy goods or services

                                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                                              How do we make goods amp services

                                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                              Production Equation

                                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                                              inputs output

                                                                              Economic Interdependence

                                                                              bullWhat does lsquointerdependencersquo mean

                                                                              bullIs our world becoming economic interdependent or independent

                                                                              bullEconomic Interdependence the actions of one part of the

                                                                              country (world) has an impact on what happens elsewhere

                                                                              Wants amp Needs gt

                                                                              Resources

                                                                              Because of scarcity we

                                                                              have to make choices

                                                                              How do we make a choice What do we give up

                                                                              What does this remind you of from our government unit

                                                                              Making Choices to Deal With Scarcity

                                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                              decision over another

                                                                              ExampleshellipbullSome choices are easy to makehellip

                                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                              school today or should I sleep in

                                                                              Task Reflecting on Personal Trade-offshellip

                                                                              In the end what helped you decide amongst your choices

                                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                              tradeoffs for that decision

                                                                              Be prepared to share

                                                                              Opportunity Cost

                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                              we want

                                                                              What else influences your choices

                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                              FinallyhellipWhy it Matters

                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                              better decision-maker

                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                              You always have to give something uphelliprdquo

                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                              decisions

                                                                              Visualizing the Relationshiphellip

                                                                              Limited Resources amp Unlimited Wants

                                                                              Scarcity

                                                                              Trade-offs (choices)

                                                                              Opportunity Costs

                                                                              ObjectivesEssential Questions

                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                              the three different types of economies

                                                                              bullEssential Question How do the different types of economies work

                                                                              How Can We Measure What We Gain and Lose When

                                                                              Making Choices

                                                                              Answer With a Production Possibilities Frontier

                                                                              Production Possibilities Frontier

                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                              PPF Assumptions

                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                              Production Possibilities Curve

                                                                              CD

                                                                              E

                                                                              OU

                                                                              TP

                                                                              UT

                                                                              OF

                                                                              CO

                                                                              NS

                                                                              UM

                                                                              ER

                                                                              GO

                                                                              OD

                                                                              S

                                                                              (un

                                                                              its

                                                                              per

                                                                              yea

                                                                              r)

                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                              A

                                                                              BO

                                                                              XF

                                                                              G

                                                                              Limited resources necessitate choices about WHAT to produce

                                                                              The Choices Nations Make

                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                              bullProduce military goods or consumer goods

                                                                              Economic Growth

                                                                              2000 production possibilities

                                                                              1900 production possibilities

                                                                              OU

                                                                              TP

                                                                              UT

                                                                              OF

                                                                              CO

                                                                              NS

                                                                              UM

                                                                              ER

                                                                              GO

                                                                              OD

                                                                              S(u

                                                                              nits

                                                                              per

                                                                              yea

                                                                              r)

                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                              Production possibilities increases with more resources and technology

                                                                              The Classic Guns and Butter example

                                                                              Guns

                                                                              Butter

                                                                              10000 20000 30000 40000 50000

                                                                              1000009500085000

                                                                              70000

                                                                              5000040000

                                                                              BA

                                                                              C

                                                                              D

                                                                              E

                                                                              F

                                                                              At point A all resources are used for butter

                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                              At point F all resources are used for Guns

                                                                              Productivitybull A PPF can help us see how efficient our

                                                                              choices are

                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                              Locations on a PPF

                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                              Food

                                                                              Computer

                                                                              4

                                                                              3

                                                                              2

                                                                              1

                                                                              1 2 3 4

                                                                              OC between 1 and 2 computers = 1 Food

                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                              Unit

                                                                              Constantly giving up the same quantity of food to get

                                                                              additional computers

                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                              Principle of Increasing Costs

                                                                              As a society produces more of one product the OC of producing

                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                              Economic Systems

                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                              Three Types of Economic Systems Command Traditional Market

                                                                              Jigsaw activity

                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                              Economic amp Social Goals of an Economic System

                                                                              bull Economic Freedom

                                                                              bull Economic Efficiency

                                                                              bull Economic Equity

                                                                              bull Economic Security

                                                                              Economic Stability

                                                                              Economic Growth

                                                                              Review of Economic Systems

                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                              What are the most important goals of each economic system

                                                                              bullTraditionalSecurity and

                                                                              StabilitybullCommand

                                                                              Equity and Security

                                                                              bullMARKETEfficiency and

                                                                              Freedom

                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                              at the expense of another (TRADEOFFS)

                                                                              Which economic system does the US use

                                                                              The American Economic System

                                                                              bullWe have a mixed market economy

                                                                              COMMAND MARKET

                                                                              The US mixed economybull In a mixed economyhellip

                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                              Think backhellip

                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                              2 Limited government

                                                                              3 Equal opportunity

                                                                              4 Competition

                                                                              5 Profit motive

                                                                              6 Property Rights

                                                                              7 Binding Contracts

                                                                              Understanding how all parts fit together

                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                              Shows interdependence between

                                                                              businesses and individuals

                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                              bull Using what you have learned this unit and using the textbook

                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                              Do you remember

                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                              democracy and mixed economy

                                                                              • Foundations of Government and Economics
                                                                              • On your blank piece of paperhellip
                                                                              • Slide 3
                                                                              • Warm-Up 1 - 9414
                                                                              • Introductory thoughts hellip
                                                                              • Slide 6
                                                                              • 2 How about to your life
                                                                              • Slide 8
                                                                              • Slide 9
                                                                              • Slide 10
                                                                              • Slide 11
                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                              • Warm up 2bndash In Journal-
                                                                              • Economist and Politician Assumptions
                                                                              • Individualism
                                                                              • Quote activity
                                                                              • Quote breakdown
                                                                              • Warm Up 3- Current Event 9814
                                                                              • Purpose of Government
                                                                              • Slide 20
                                                                              • 3 Theorists
                                                                              • Activity
                                                                              • Origins of American Government A customized government
                                                                              • Origins of American Government A customized government (2)
                                                                              • Origins of American Government A customized government (3)
                                                                              • With which theory do you agree more Why
                                                                              • The ldquoOriginal Dilemmardquo
                                                                              • Warm Up 5 Hobbes and Locke
                                                                              • Groups Block 2
                                                                              • Groups Block 4
                                                                              • Balloon Game
                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                              • Balloon Game Debriefing
                                                                              • Political Theories
                                                                              • Social Contract
                                                                              • Natural Rights
                                                                              • Democracy
                                                                              • Concepts of Government
                                                                              • Warm up 6 ndash 91114
                                                                              • Warm Up 7
                                                                              • And after the Constitution
                                                                              • Activity (2)
                                                                              • Picture Activity
                                                                              • Constitutional Convention
                                                                              • Purpose of the Convention
                                                                              • VA Plan v NJ Plan
                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                              • Your Task
                                                                              • Closure
                                                                              • States agree
                                                                              • Quote
                                                                              • Structure of Constitution
                                                                              • Structure of Constitution
                                                                              • 6 Purpose of Government
                                                                              • Structure of Constitution (2)
                                                                              • Structure of Constitution (3)
                                                                              • Principles of Constitution
                                                                              • Activity
                                                                              • Slide 60
                                                                              • Check for Understanding Six Principles
                                                                              • Question 1
                                                                              • Question 2
                                                                              • Question 3
                                                                              • Question 4
                                                                              • Question 5
                                                                              • Question 6
                                                                              • Question 7
                                                                              • Question 8
                                                                              • Groups
                                                                              • Separation of Powers
                                                                              • Video
                                                                              • Checks and Balances
                                                                              • Slide 74
                                                                              • Checks and balances
                                                                              • Basic Principles
                                                                              • Self- Worth
                                                                              • Equality
                                                                              • Compromise
                                                                              • Individual Freedom
                                                                              • Write your ownhellip
                                                                              • Slide 82
                                                                              • TED Talk
                                                                              • Closure
                                                                              • What is Economics
                                                                              • Economics ishellip
                                                                              • Back to our assumptionshellip
                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                              • For the videohellip
                                                                              • Slide 90
                                                                              • Post Videohellip
                                                                              • Advertisement
                                                                              • Political Cartoon Analysis
                                                                              • Factors of Production
                                                                              • TASK
                                                                              • The price ofhellip
                                                                              • Economic efficiency is achieved when all available resources ar
                                                                              • 1 What to produce
                                                                              • 2 How to produce it
                                                                              • 3 For whom to produce it
                                                                              • Application Activity
                                                                              • EQs
                                                                              • Objectives amp Essential Questions
                                                                              • Group Activity Budget Activity
                                                                              • Slide 105
                                                                              • How do we satisfy our economic wants
                                                                              • How do we make goods amp services
                                                                              • Economic Interdependence
                                                                              • Slide 109
                                                                              • Making Choices to Deal With Scarcity
                                                                              • Exampleshellip
                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                              • Opportunity Cost
                                                                              • What else influences your choices
                                                                              • Finallyhellip Why it Matters
                                                                              • Visualizing the Relationshiphellip
                                                                              • ObjectivesEssential Questions
                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                              • Production Possibilities Frontier
                                                                              • PPF Assumptions
                                                                              • Slide 121
                                                                              • Production Possibilities Curve
                                                                              • The Choices Nations Make
                                                                              • Economic Growth
                                                                              • The Classic Guns and Butter example
                                                                              • Productivity
                                                                              • Locations on a PPF
                                                                              • Slide 128
                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                              • Economic Systems
                                                                              • Jigsaw activity
                                                                              • Slide 132
                                                                              • Economic amp Social Goals of an Economic System
                                                                              • Review of Economic Systems
                                                                              • Slide 135
                                                                              • What are the most important goals of each economic system
                                                                              • Which economic system does the US use
                                                                              • The American Economic System
                                                                              • The US mixed economy
                                                                              • Slide 140
                                                                              • Think backhellip
                                                                              • US Economic System Characteristics
                                                                              • Slide 143
                                                                              • Understanding how all parts fit together
                                                                              • Marriage Vows
                                                                              • Do you remember
                                                                              • Slide 147

                                                                                And after the ConstitutionFederalism vs Anti-Federalism

                                                                                bullFederalists believed Favored ratification believed Constitution was

                                                                                strong enough handle nationrsquos problems supported a federal government led by Alexander Hamilton and James Madison

                                                                                bullAnti-Federalists believed Opposed ratification believed Constitution

                                                                                was too strong wanted a Bill of Rights added to protect individual freedoms from government abuse led by Patrick Henry and Samuel Adams

                                                                                Activity

                                                                                bullEach of you will get a card it either has a termperson or a definition on it

                                                                                bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                                bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                                secret with your partner

                                                                                Picture Activity

                                                                                bullGallery Walk

                                                                                Constitutional Convention

                                                                                bullMet in Philadelphia in 1787

                                                                                bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                                bullThese men were collectively known as ldquoThe Framersrdquo

                                                                                Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                                Confederation bullDelegates quickly realized they were

                                                                                meeting to create a new government (with 3 branches)

                                                                                VA Plan v NJ Plan

                                                                                Several plans were proposed to correct the weaknesses of the Articles

                                                                                bullVirginia PlanbullNew Jersey Plan

                                                                                Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                                Virginia Plan ldquoLarge State Planrdquo

                                                                                bullStrong central govrsquotbullL Bicameral Congress

                                                                                Representation based on population

                                                                                bullE ldquoPresidentrdquo Chosen by Congress

                                                                                bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                                New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                                Each state would have = representationExpand power to tax amp regulate trade

                                                                                bullE Two-person presidencyChosen by Congress able to be removed

                                                                                bullJ Single Supreme CourtChosen by Executive

                                                                                Your Task

                                                                                Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                                them to choose your planUse catchy phrasesslogans and be sure to

                                                                                include the historical features of your plan (VA or NJ)

                                                                                At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                                Closure

                                                                                bullWhat do you think (or know) happens to these two plans

                                                                                States agreebull States agree to (ratify) the Constitution

                                                                                only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                Quote

                                                                                bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                bullWhat words stick to you in this quote Why

                                                                                Structure of Constitutionbull Provides basic

                                                                                framework for US government

                                                                                bull Outlines basic principles structure and processes

                                                                                bull Three partsmdashPreambleArticlesAmendments

                                                                                Structure of Constitution bull Preamble

                                                                                Introduction to the Constitution Lists ideas that the government should stand for

                                                                                and states purposes We the people of the United States in Order

                                                                                to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                6 Purpose of Government bull Form a More Perfect Union

                                                                                bull Establish Justice bull Insure Domestic Tranquility

                                                                                bull Provide for the Common Defense

                                                                                bull Promote the General Welfare

                                                                                bull Secure the Blessings of Liberty

                                                                                For each phrase consider the followinghellip

                                                                                1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                2 Is this phrase important today

                                                                                Structure of Constitution bullArticles

                                                                                Main body of the Constitution Lay out basic structure of the national

                                                                                governmentFurther broken down into sections and clauses

                                                                                Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                Clause oaths of office

                                                                                Article VII Ratification

                                                                                Structure of Constitution

                                                                                bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                Activity

                                                                                Activity bull STEP 1 bull Fill in the graphic

                                                                                organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                Principle Explanation

                                                                                Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                Federalism Divides the power between the central government and the States

                                                                                Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                Question 1

                                                                                bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                Popular Sovereignty

                                                                                Question 2

                                                                                bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                Limited Government

                                                                                Question 3

                                                                                bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                Limited Government

                                                                                Question 4

                                                                                bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                SEPARATION OF POWERS

                                                                                Question 5

                                                                                bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                Checks and Balances

                                                                                Question 6

                                                                                bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                CHECKS AND BALANCES

                                                                                Question 7

                                                                                bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                JUDICIAL REVIEW

                                                                                Question 8

                                                                                bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                Federalism

                                                                                GroupsPopular

                                                                                SovereigntySeparation of

                                                                                PowersFederalism

                                                                                bull bull bull

                                                                                Judicial Review

                                                                                Limited Government

                                                                                Checks and Balances

                                                                                bull bull bull

                                                                                Separation of Powers

                                                                                bull Legislative branchmdashmakes the laws

                                                                                bull Executive branchmdashenforces the laws

                                                                                bull Judicial branchmdashinterprets the law

                                                                                Video

                                                                                bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                Checks and Balances

                                                                                Checks and balances

                                                                                bullIn what was do the branches check on one another

                                                                                bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                Basic Principles

                                                                                bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                Self- Worth

                                                                                bull A recognition of the fundamental worth of every person

                                                                                bull The democratic process reflects the collective set of individuals who make up society

                                                                                Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                Compromise

                                                                                bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                bullWhy is compromise important

                                                                                Individual Freedombull Right of the

                                                                                individual to be free as far as the freedom of all will allow

                                                                                bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                Write your ownhellipbull Now that you know what the foundations of

                                                                                government arehellip Create your own Constitution (Or social contract)

                                                                                What do you think is important to include What do you think could be taken out

                                                                                Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                Preamble (brief introduction) Articles (what should it include based on what we

                                                                                learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                change it)

                                                                                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                paper

                                                                                TED Talk

                                                                                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                Closure

                                                                                bullExplain two principles of the constitution and how are they connected

                                                                                What is Economics

                                                                                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                Important Parts of Economicsndash

                                                                                CHOICESSCARCITY

                                                                                Economics ishellip

                                                                                bullDependent upon assumptions

                                                                                bullDependent upon simplification of reality

                                                                                Back to our assumptionshellip

                                                                                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                bullAll sellers seek to maximize profits

                                                                                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                For the videohellip

                                                                                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                Post Videohellip

                                                                                bullDefine the main idea of the video in 4-5 words

                                                                                Advertisement

                                                                                bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                3 images that represent different economic ideas

                                                                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                1 slogan that represents why economics is an important course to take

                                                                                Political Cartoon Analysis

                                                                                Factors of Production bull LAND

                                                                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                soil minerals water and plants

                                                                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                into producing goodsservices

                                                                                bull CAPITAL Includes tools machines buildings and

                                                                                technologies

                                                                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                land labor and capital to produce goods and services

                                                                                TASK

                                                                                bullTask Why are entrepreneurs the driving force in our economy

                                                                                bullAnswer in 2-3 sentences

                                                                                The price ofhellip

                                                                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                Economic efficiency is achieved when all available resources are being used

                                                                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                1 What to produce

                                                                                bullShould it be military or civilian goods

                                                                                bullFood or clothingbullMedicine or movies

                                                                                2 How to produce it

                                                                                bullAutomated or manual labor

                                                                                bullExpensive or cheap materials

                                                                                bullDomestic or overseas labor

                                                                                3 For whom to produce it

                                                                                bullThe wealthy or the needybullThe sick or the healthy

                                                                                Application Activity

                                                                                bull In groups of 2-3 create your own country (name it please)

                                                                                bull With your countryrsquos name explain the Population geography and general population

                                                                                information (iehellipbull Choose 5 items for your country to produce and

                                                                                answer the three societal questions for eachALSO explain why this material would help your

                                                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                withhellip Images representing what you produce and a

                                                                                slogan for why your country is awesome

                                                                                EQs

                                                                                bullHow does scarcity impact decision making

                                                                                Objectives amp Essential QuestionsbullObjectives

                                                                                I will be able to create and reflect on a budget given new economics content

                                                                                I will be able to understand scarcity and our mixed economy

                                                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                Group Activity Budget Activity

                                                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                How do we satisfy our economic wants

                                                                                bull We buy goods or services

                                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                                How do we make goods amp services

                                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                Production Equation

                                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                inputs output

                                                                                Economic Interdependence

                                                                                bullWhat does lsquointerdependencersquo mean

                                                                                bullIs our world becoming economic interdependent or independent

                                                                                bullEconomic Interdependence the actions of one part of the

                                                                                country (world) has an impact on what happens elsewhere

                                                                                Wants amp Needs gt

                                                                                Resources

                                                                                Because of scarcity we

                                                                                have to make choices

                                                                                How do we make a choice What do we give up

                                                                                What does this remind you of from our government unit

                                                                                Making Choices to Deal With Scarcity

                                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                decision over another

                                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                school today or should I sleep in

                                                                                Task Reflecting on Personal Trade-offshellip

                                                                                In the end what helped you decide amongst your choices

                                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                tradeoffs for that decision

                                                                                Be prepared to share

                                                                                Opportunity Cost

                                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                                we want

                                                                                What else influences your choices

                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                FinallyhellipWhy it Matters

                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                better decision-maker

                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                You always have to give something uphelliprdquo

                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                decisions

                                                                                Visualizing the Relationshiphellip

                                                                                Limited Resources amp Unlimited Wants

                                                                                Scarcity

                                                                                Trade-offs (choices)

                                                                                Opportunity Costs

                                                                                ObjectivesEssential Questions

                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                the three different types of economies

                                                                                bullEssential Question How do the different types of economies work

                                                                                How Can We Measure What We Gain and Lose When

                                                                                Making Choices

                                                                                Answer With a Production Possibilities Frontier

                                                                                Production Possibilities Frontier

                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                PPF Assumptions

                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                Production Possibilities Curve

                                                                                CD

                                                                                E

                                                                                OU

                                                                                TP

                                                                                UT

                                                                                OF

                                                                                CO

                                                                                NS

                                                                                UM

                                                                                ER

                                                                                GO

                                                                                OD

                                                                                S

                                                                                (un

                                                                                its

                                                                                per

                                                                                yea

                                                                                r)

                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                A

                                                                                BO

                                                                                XF

                                                                                G

                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                The Choices Nations Make

                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                bullProduce military goods or consumer goods

                                                                                Economic Growth

                                                                                2000 production possibilities

                                                                                1900 production possibilities

                                                                                OU

                                                                                TP

                                                                                UT

                                                                                OF

                                                                                CO

                                                                                NS

                                                                                UM

                                                                                ER

                                                                                GO

                                                                                OD

                                                                                S(u

                                                                                nits

                                                                                per

                                                                                yea

                                                                                r)

                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                Production possibilities increases with more resources and technology

                                                                                The Classic Guns and Butter example

                                                                                Guns

                                                                                Butter

                                                                                10000 20000 30000 40000 50000

                                                                                1000009500085000

                                                                                70000

                                                                                5000040000

                                                                                BA

                                                                                C

                                                                                D

                                                                                E

                                                                                F

                                                                                At point A all resources are used for butter

                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                At point F all resources are used for Guns

                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                choices are

                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                Locations on a PPF

                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                Food

                                                                                Computer

                                                                                4

                                                                                3

                                                                                2

                                                                                1

                                                                                1 2 3 4

                                                                                OC between 1 and 2 computers = 1 Food

                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                Unit

                                                                                Constantly giving up the same quantity of food to get

                                                                                additional computers

                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                Principle of Increasing Costs

                                                                                As a society produces more of one product the OC of producing

                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                Economic Systems

                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                Jigsaw activity

                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                Economic amp Social Goals of an Economic System

                                                                                bull Economic Freedom

                                                                                bull Economic Efficiency

                                                                                bull Economic Equity

                                                                                bull Economic Security

                                                                                Economic Stability

                                                                                Economic Growth

                                                                                Review of Economic Systems

                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                What are the most important goals of each economic system

                                                                                bullTraditionalSecurity and

                                                                                StabilitybullCommand

                                                                                Equity and Security

                                                                                bullMARKETEfficiency and

                                                                                Freedom

                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                at the expense of another (TRADEOFFS)

                                                                                Which economic system does the US use

                                                                                The American Economic System

                                                                                bullWe have a mixed market economy

                                                                                COMMAND MARKET

                                                                                The US mixed economybull In a mixed economyhellip

                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                Think backhellip

                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                2 Limited government

                                                                                3 Equal opportunity

                                                                                4 Competition

                                                                                5 Profit motive

                                                                                6 Property Rights

                                                                                7 Binding Contracts

                                                                                Understanding how all parts fit together

                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                Shows interdependence between

                                                                                businesses and individuals

                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                bull Using what you have learned this unit and using the textbook

                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                Do you remember

                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                democracy and mixed economy

                                                                                • Foundations of Government and Economics
                                                                                • On your blank piece of paperhellip
                                                                                • Slide 3
                                                                                • Warm-Up 1 - 9414
                                                                                • Introductory thoughts hellip
                                                                                • Slide 6
                                                                                • 2 How about to your life
                                                                                • Slide 8
                                                                                • Slide 9
                                                                                • Slide 10
                                                                                • Slide 11
                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                • Warm up 2bndash In Journal-
                                                                                • Economist and Politician Assumptions
                                                                                • Individualism
                                                                                • Quote activity
                                                                                • Quote breakdown
                                                                                • Warm Up 3- Current Event 9814
                                                                                • Purpose of Government
                                                                                • Slide 20
                                                                                • 3 Theorists
                                                                                • Activity
                                                                                • Origins of American Government A customized government
                                                                                • Origins of American Government A customized government (2)
                                                                                • Origins of American Government A customized government (3)
                                                                                • With which theory do you agree more Why
                                                                                • The ldquoOriginal Dilemmardquo
                                                                                • Warm Up 5 Hobbes and Locke
                                                                                • Groups Block 2
                                                                                • Groups Block 4
                                                                                • Balloon Game
                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                • Balloon Game Debriefing
                                                                                • Political Theories
                                                                                • Social Contract
                                                                                • Natural Rights
                                                                                • Democracy
                                                                                • Concepts of Government
                                                                                • Warm up 6 ndash 91114
                                                                                • Warm Up 7
                                                                                • And after the Constitution
                                                                                • Activity (2)
                                                                                • Picture Activity
                                                                                • Constitutional Convention
                                                                                • Purpose of the Convention
                                                                                • VA Plan v NJ Plan
                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                • Your Task
                                                                                • Closure
                                                                                • States agree
                                                                                • Quote
                                                                                • Structure of Constitution
                                                                                • Structure of Constitution
                                                                                • 6 Purpose of Government
                                                                                • Structure of Constitution (2)
                                                                                • Structure of Constitution (3)
                                                                                • Principles of Constitution
                                                                                • Activity
                                                                                • Slide 60
                                                                                • Check for Understanding Six Principles
                                                                                • Question 1
                                                                                • Question 2
                                                                                • Question 3
                                                                                • Question 4
                                                                                • Question 5
                                                                                • Question 6
                                                                                • Question 7
                                                                                • Question 8
                                                                                • Groups
                                                                                • Separation of Powers
                                                                                • Video
                                                                                • Checks and Balances
                                                                                • Slide 74
                                                                                • Checks and balances
                                                                                • Basic Principles
                                                                                • Self- Worth
                                                                                • Equality
                                                                                • Compromise
                                                                                • Individual Freedom
                                                                                • Write your ownhellip
                                                                                • Slide 82
                                                                                • TED Talk
                                                                                • Closure
                                                                                • What is Economics
                                                                                • Economics ishellip
                                                                                • Back to our assumptionshellip
                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                • For the videohellip
                                                                                • Slide 90
                                                                                • Post Videohellip
                                                                                • Advertisement
                                                                                • Political Cartoon Analysis
                                                                                • Factors of Production
                                                                                • TASK
                                                                                • The price ofhellip
                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                • 1 What to produce
                                                                                • 2 How to produce it
                                                                                • 3 For whom to produce it
                                                                                • Application Activity
                                                                                • EQs
                                                                                • Objectives amp Essential Questions
                                                                                • Group Activity Budget Activity
                                                                                • Slide 105
                                                                                • How do we satisfy our economic wants
                                                                                • How do we make goods amp services
                                                                                • Economic Interdependence
                                                                                • Slide 109
                                                                                • Making Choices to Deal With Scarcity
                                                                                • Exampleshellip
                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                • Opportunity Cost
                                                                                • What else influences your choices
                                                                                • Finallyhellip Why it Matters
                                                                                • Visualizing the Relationshiphellip
                                                                                • ObjectivesEssential Questions
                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                • Production Possibilities Frontier
                                                                                • PPF Assumptions
                                                                                • Slide 121
                                                                                • Production Possibilities Curve
                                                                                • The Choices Nations Make
                                                                                • Economic Growth
                                                                                • The Classic Guns and Butter example
                                                                                • Productivity
                                                                                • Locations on a PPF
                                                                                • Slide 128
                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                • Economic Systems
                                                                                • Jigsaw activity
                                                                                • Slide 132
                                                                                • Economic amp Social Goals of an Economic System
                                                                                • Review of Economic Systems
                                                                                • Slide 135
                                                                                • What are the most important goals of each economic system
                                                                                • Which economic system does the US use
                                                                                • The American Economic System
                                                                                • The US mixed economy
                                                                                • Slide 140
                                                                                • Think backhellip
                                                                                • US Economic System Characteristics
                                                                                • Slide 143
                                                                                • Understanding how all parts fit together
                                                                                • Marriage Vows
                                                                                • Do you remember
                                                                                • Slide 147

                                                                                  Activity

                                                                                  bullEach of you will get a card it either has a termperson or a definition on it

                                                                                  bullYou must find the person who matches you and secretly begin a visual representation of your ideapersonterm

                                                                                  bullDO NOT SHARE ANSWERSbullWe will play a game afterhellipso work in

                                                                                  secret with your partner

                                                                                  Picture Activity

                                                                                  bullGallery Walk

                                                                                  Constitutional Convention

                                                                                  bullMet in Philadelphia in 1787

                                                                                  bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                                  bullThese men were collectively known as ldquoThe Framersrdquo

                                                                                  Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                                  Confederation bullDelegates quickly realized they were

                                                                                  meeting to create a new government (with 3 branches)

                                                                                  VA Plan v NJ Plan

                                                                                  Several plans were proposed to correct the weaknesses of the Articles

                                                                                  bullVirginia PlanbullNew Jersey Plan

                                                                                  Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                                  Virginia Plan ldquoLarge State Planrdquo

                                                                                  bullStrong central govrsquotbullL Bicameral Congress

                                                                                  Representation based on population

                                                                                  bullE ldquoPresidentrdquo Chosen by Congress

                                                                                  bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                                  New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                                  Each state would have = representationExpand power to tax amp regulate trade

                                                                                  bullE Two-person presidencyChosen by Congress able to be removed

                                                                                  bullJ Single Supreme CourtChosen by Executive

                                                                                  Your Task

                                                                                  Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                                  them to choose your planUse catchy phrasesslogans and be sure to

                                                                                  include the historical features of your plan (VA or NJ)

                                                                                  At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                                  Closure

                                                                                  bullWhat do you think (or know) happens to these two plans

                                                                                  States agreebull States agree to (ratify) the Constitution

                                                                                  only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                  bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                  Quote

                                                                                  bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                  bullWhat words stick to you in this quote Why

                                                                                  Structure of Constitutionbull Provides basic

                                                                                  framework for US government

                                                                                  bull Outlines basic principles structure and processes

                                                                                  bull Three partsmdashPreambleArticlesAmendments

                                                                                  Structure of Constitution bull Preamble

                                                                                  Introduction to the Constitution Lists ideas that the government should stand for

                                                                                  and states purposes We the people of the United States in Order

                                                                                  to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                  6 Purpose of Government bull Form a More Perfect Union

                                                                                  bull Establish Justice bull Insure Domestic Tranquility

                                                                                  bull Provide for the Common Defense

                                                                                  bull Promote the General Welfare

                                                                                  bull Secure the Blessings of Liberty

                                                                                  For each phrase consider the followinghellip

                                                                                  1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                  2 Is this phrase important today

                                                                                  Structure of Constitution bullArticles

                                                                                  Main body of the Constitution Lay out basic structure of the national

                                                                                  governmentFurther broken down into sections and clauses

                                                                                  Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                  Clause oaths of office

                                                                                  Article VII Ratification

                                                                                  Structure of Constitution

                                                                                  bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                  Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                  bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                  Activity

                                                                                  Activity bull STEP 1 bull Fill in the graphic

                                                                                  organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                  bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                  Principle Explanation

                                                                                  Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                  Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                  Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                  Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                  Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                  Federalism Divides the power between the central government and the States

                                                                                  Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                  Question 1

                                                                                  bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                  Popular Sovereignty

                                                                                  Question 2

                                                                                  bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                  Limited Government

                                                                                  Question 3

                                                                                  bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                  Limited Government

                                                                                  Question 4

                                                                                  bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                  SEPARATION OF POWERS

                                                                                  Question 5

                                                                                  bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                  Checks and Balances

                                                                                  Question 6

                                                                                  bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                  CHECKS AND BALANCES

                                                                                  Question 7

                                                                                  bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                  JUDICIAL REVIEW

                                                                                  Question 8

                                                                                  bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                  Federalism

                                                                                  GroupsPopular

                                                                                  SovereigntySeparation of

                                                                                  PowersFederalism

                                                                                  bull bull bull

                                                                                  Judicial Review

                                                                                  Limited Government

                                                                                  Checks and Balances

                                                                                  bull bull bull

                                                                                  Separation of Powers

                                                                                  bull Legislative branchmdashmakes the laws

                                                                                  bull Executive branchmdashenforces the laws

                                                                                  bull Judicial branchmdashinterprets the law

                                                                                  Video

                                                                                  bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                  Checks and Balances

                                                                                  Checks and balances

                                                                                  bullIn what was do the branches check on one another

                                                                                  bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                  Basic Principles

                                                                                  bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                  Self- Worth

                                                                                  bull A recognition of the fundamental worth of every person

                                                                                  bull The democratic process reflects the collective set of individuals who make up society

                                                                                  Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                  bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                  bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                  Compromise

                                                                                  bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                  bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                  bullWhy is compromise important

                                                                                  Individual Freedombull Right of the

                                                                                  individual to be free as far as the freedom of all will allow

                                                                                  bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                  Write your ownhellipbull Now that you know what the foundations of

                                                                                  government arehellip Create your own Constitution (Or social contract)

                                                                                  What do you think is important to include What do you think could be taken out

                                                                                  Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                  Preamble (brief introduction) Articles (what should it include based on what we

                                                                                  learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                  change it)

                                                                                  bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                  paper

                                                                                  TED Talk

                                                                                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                  Closure

                                                                                  bullExplain two principles of the constitution and how are they connected

                                                                                  What is Economics

                                                                                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                  Important Parts of Economicsndash

                                                                                  CHOICESSCARCITY

                                                                                  Economics ishellip

                                                                                  bullDependent upon assumptions

                                                                                  bullDependent upon simplification of reality

                                                                                  Back to our assumptionshellip

                                                                                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                  bullAll sellers seek to maximize profits

                                                                                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                  For the videohellip

                                                                                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                  Post Videohellip

                                                                                  bullDefine the main idea of the video in 4-5 words

                                                                                  Advertisement

                                                                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                  3 images that represent different economic ideas

                                                                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                  1 slogan that represents why economics is an important course to take

                                                                                  Political Cartoon Analysis

                                                                                  Factors of Production bull LAND

                                                                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                  soil minerals water and plants

                                                                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                  into producing goodsservices

                                                                                  bull CAPITAL Includes tools machines buildings and

                                                                                  technologies

                                                                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                  land labor and capital to produce goods and services

                                                                                  TASK

                                                                                  bullTask Why are entrepreneurs the driving force in our economy

                                                                                  bullAnswer in 2-3 sentences

                                                                                  The price ofhellip

                                                                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                  Economic efficiency is achieved when all available resources are being used

                                                                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                  1 What to produce

                                                                                  bullShould it be military or civilian goods

                                                                                  bullFood or clothingbullMedicine or movies

                                                                                  2 How to produce it

                                                                                  bullAutomated or manual labor

                                                                                  bullExpensive or cheap materials

                                                                                  bullDomestic or overseas labor

                                                                                  3 For whom to produce it

                                                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                                                  Application Activity

                                                                                  bull In groups of 2-3 create your own country (name it please)

                                                                                  bull With your countryrsquos name explain the Population geography and general population

                                                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                  withhellip Images representing what you produce and a

                                                                                  slogan for why your country is awesome

                                                                                  EQs

                                                                                  bullHow does scarcity impact decision making

                                                                                  Objectives amp Essential QuestionsbullObjectives

                                                                                  I will be able to create and reflect on a budget given new economics content

                                                                                  I will be able to understand scarcity and our mixed economy

                                                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                  Group Activity Budget Activity

                                                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                  How do we satisfy our economic wants

                                                                                  bull We buy goods or services

                                                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                                                  How do we make goods amp services

                                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                  Production Equation

                                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                  inputs output

                                                                                  Economic Interdependence

                                                                                  bullWhat does lsquointerdependencersquo mean

                                                                                  bullIs our world becoming economic interdependent or independent

                                                                                  bullEconomic Interdependence the actions of one part of the

                                                                                  country (world) has an impact on what happens elsewhere

                                                                                  Wants amp Needs gt

                                                                                  Resources

                                                                                  Because of scarcity we

                                                                                  have to make choices

                                                                                  How do we make a choice What do we give up

                                                                                  What does this remind you of from our government unit

                                                                                  Making Choices to Deal With Scarcity

                                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                  decision over another

                                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                  school today or should I sleep in

                                                                                  Task Reflecting on Personal Trade-offshellip

                                                                                  In the end what helped you decide amongst your choices

                                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                  tradeoffs for that decision

                                                                                  Be prepared to share

                                                                                  Opportunity Cost

                                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                                  we want

                                                                                  What else influences your choices

                                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                  FinallyhellipWhy it Matters

                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                  better decision-maker

                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                  You always have to give something uphelliprdquo

                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                  decisions

                                                                                  Visualizing the Relationshiphellip

                                                                                  Limited Resources amp Unlimited Wants

                                                                                  Scarcity

                                                                                  Trade-offs (choices)

                                                                                  Opportunity Costs

                                                                                  ObjectivesEssential Questions

                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                  the three different types of economies

                                                                                  bullEssential Question How do the different types of economies work

                                                                                  How Can We Measure What We Gain and Lose When

                                                                                  Making Choices

                                                                                  Answer With a Production Possibilities Frontier

                                                                                  Production Possibilities Frontier

                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                  PPF Assumptions

                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                  Production Possibilities Curve

                                                                                  CD

                                                                                  E

                                                                                  OU

                                                                                  TP

                                                                                  UT

                                                                                  OF

                                                                                  CO

                                                                                  NS

                                                                                  UM

                                                                                  ER

                                                                                  GO

                                                                                  OD

                                                                                  S

                                                                                  (un

                                                                                  its

                                                                                  per

                                                                                  yea

                                                                                  r)

                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                  A

                                                                                  BO

                                                                                  XF

                                                                                  G

                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                  The Choices Nations Make

                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                  bullProduce military goods or consumer goods

                                                                                  Economic Growth

                                                                                  2000 production possibilities

                                                                                  1900 production possibilities

                                                                                  OU

                                                                                  TP

                                                                                  UT

                                                                                  OF

                                                                                  CO

                                                                                  NS

                                                                                  UM

                                                                                  ER

                                                                                  GO

                                                                                  OD

                                                                                  S(u

                                                                                  nits

                                                                                  per

                                                                                  yea

                                                                                  r)

                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                  Production possibilities increases with more resources and technology

                                                                                  The Classic Guns and Butter example

                                                                                  Guns

                                                                                  Butter

                                                                                  10000 20000 30000 40000 50000

                                                                                  1000009500085000

                                                                                  70000

                                                                                  5000040000

                                                                                  BA

                                                                                  C

                                                                                  D

                                                                                  E

                                                                                  F

                                                                                  At point A all resources are used for butter

                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                  At point F all resources are used for Guns

                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                  choices are

                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                  Locations on a PPF

                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                  Food

                                                                                  Computer

                                                                                  4

                                                                                  3

                                                                                  2

                                                                                  1

                                                                                  1 2 3 4

                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                  Unit

                                                                                  Constantly giving up the same quantity of food to get

                                                                                  additional computers

                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                  Principle of Increasing Costs

                                                                                  As a society produces more of one product the OC of producing

                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                  Economic Systems

                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                  Jigsaw activity

                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                  Economic amp Social Goals of an Economic System

                                                                                  bull Economic Freedom

                                                                                  bull Economic Efficiency

                                                                                  bull Economic Equity

                                                                                  bull Economic Security

                                                                                  Economic Stability

                                                                                  Economic Growth

                                                                                  Review of Economic Systems

                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                  What are the most important goals of each economic system

                                                                                  bullTraditionalSecurity and

                                                                                  StabilitybullCommand

                                                                                  Equity and Security

                                                                                  bullMARKETEfficiency and

                                                                                  Freedom

                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                  at the expense of another (TRADEOFFS)

                                                                                  Which economic system does the US use

                                                                                  The American Economic System

                                                                                  bullWe have a mixed market economy

                                                                                  COMMAND MARKET

                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                  Think backhellip

                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                  2 Limited government

                                                                                  3 Equal opportunity

                                                                                  4 Competition

                                                                                  5 Profit motive

                                                                                  6 Property Rights

                                                                                  7 Binding Contracts

                                                                                  Understanding how all parts fit together

                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                  Shows interdependence between

                                                                                  businesses and individuals

                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                  Do you remember

                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                  democracy and mixed economy

                                                                                  • Foundations of Government and Economics
                                                                                  • On your blank piece of paperhellip
                                                                                  • Slide 3
                                                                                  • Warm-Up 1 - 9414
                                                                                  • Introductory thoughts hellip
                                                                                  • Slide 6
                                                                                  • 2 How about to your life
                                                                                  • Slide 8
                                                                                  • Slide 9
                                                                                  • Slide 10
                                                                                  • Slide 11
                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                  • Warm up 2bndash In Journal-
                                                                                  • Economist and Politician Assumptions
                                                                                  • Individualism
                                                                                  • Quote activity
                                                                                  • Quote breakdown
                                                                                  • Warm Up 3- Current Event 9814
                                                                                  • Purpose of Government
                                                                                  • Slide 20
                                                                                  • 3 Theorists
                                                                                  • Activity
                                                                                  • Origins of American Government A customized government
                                                                                  • Origins of American Government A customized government (2)
                                                                                  • Origins of American Government A customized government (3)
                                                                                  • With which theory do you agree more Why
                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                  • Groups Block 2
                                                                                  • Groups Block 4
                                                                                  • Balloon Game
                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                  • Balloon Game Debriefing
                                                                                  • Political Theories
                                                                                  • Social Contract
                                                                                  • Natural Rights
                                                                                  • Democracy
                                                                                  • Concepts of Government
                                                                                  • Warm up 6 ndash 91114
                                                                                  • Warm Up 7
                                                                                  • And after the Constitution
                                                                                  • Activity (2)
                                                                                  • Picture Activity
                                                                                  • Constitutional Convention
                                                                                  • Purpose of the Convention
                                                                                  • VA Plan v NJ Plan
                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                  • Your Task
                                                                                  • Closure
                                                                                  • States agree
                                                                                  • Quote
                                                                                  • Structure of Constitution
                                                                                  • Structure of Constitution
                                                                                  • 6 Purpose of Government
                                                                                  • Structure of Constitution (2)
                                                                                  • Structure of Constitution (3)
                                                                                  • Principles of Constitution
                                                                                  • Activity
                                                                                  • Slide 60
                                                                                  • Check for Understanding Six Principles
                                                                                  • Question 1
                                                                                  • Question 2
                                                                                  • Question 3
                                                                                  • Question 4
                                                                                  • Question 5
                                                                                  • Question 6
                                                                                  • Question 7
                                                                                  • Question 8
                                                                                  • Groups
                                                                                  • Separation of Powers
                                                                                  • Video
                                                                                  • Checks and Balances
                                                                                  • Slide 74
                                                                                  • Checks and balances
                                                                                  • Basic Principles
                                                                                  • Self- Worth
                                                                                  • Equality
                                                                                  • Compromise
                                                                                  • Individual Freedom
                                                                                  • Write your ownhellip
                                                                                  • Slide 82
                                                                                  • TED Talk
                                                                                  • Closure
                                                                                  • What is Economics
                                                                                  • Economics ishellip
                                                                                  • Back to our assumptionshellip
                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                  • For the videohellip
                                                                                  • Slide 90
                                                                                  • Post Videohellip
                                                                                  • Advertisement
                                                                                  • Political Cartoon Analysis
                                                                                  • Factors of Production
                                                                                  • TASK
                                                                                  • The price ofhellip
                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                  • 1 What to produce
                                                                                  • 2 How to produce it
                                                                                  • 3 For whom to produce it
                                                                                  • Application Activity
                                                                                  • EQs
                                                                                  • Objectives amp Essential Questions
                                                                                  • Group Activity Budget Activity
                                                                                  • Slide 105
                                                                                  • How do we satisfy our economic wants
                                                                                  • How do we make goods amp services
                                                                                  • Economic Interdependence
                                                                                  • Slide 109
                                                                                  • Making Choices to Deal With Scarcity
                                                                                  • Exampleshellip
                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                  • Opportunity Cost
                                                                                  • What else influences your choices
                                                                                  • Finallyhellip Why it Matters
                                                                                  • Visualizing the Relationshiphellip
                                                                                  • ObjectivesEssential Questions
                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                  • Production Possibilities Frontier
                                                                                  • PPF Assumptions
                                                                                  • Slide 121
                                                                                  • Production Possibilities Curve
                                                                                  • The Choices Nations Make
                                                                                  • Economic Growth
                                                                                  • The Classic Guns and Butter example
                                                                                  • Productivity
                                                                                  • Locations on a PPF
                                                                                  • Slide 128
                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                  • Economic Systems
                                                                                  • Jigsaw activity
                                                                                  • Slide 132
                                                                                  • Economic amp Social Goals of an Economic System
                                                                                  • Review of Economic Systems
                                                                                  • Slide 135
                                                                                  • What are the most important goals of each economic system
                                                                                  • Which economic system does the US use
                                                                                  • The American Economic System
                                                                                  • The US mixed economy
                                                                                  • Slide 140
                                                                                  • Think backhellip
                                                                                  • US Economic System Characteristics
                                                                                  • Slide 143
                                                                                  • Understanding how all parts fit together
                                                                                  • Marriage Vows
                                                                                  • Do you remember
                                                                                  • Slide 147

                                                                                    Picture Activity

                                                                                    bullGallery Walk

                                                                                    Constitutional Convention

                                                                                    bullMet in Philadelphia in 1787

                                                                                    bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                                    bullThese men were collectively known as ldquoThe Framersrdquo

                                                                                    Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                                    Confederation bullDelegates quickly realized they were

                                                                                    meeting to create a new government (with 3 branches)

                                                                                    VA Plan v NJ Plan

                                                                                    Several plans were proposed to correct the weaknesses of the Articles

                                                                                    bullVirginia PlanbullNew Jersey Plan

                                                                                    Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                                    Virginia Plan ldquoLarge State Planrdquo

                                                                                    bullStrong central govrsquotbullL Bicameral Congress

                                                                                    Representation based on population

                                                                                    bullE ldquoPresidentrdquo Chosen by Congress

                                                                                    bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                                    New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                                    Each state would have = representationExpand power to tax amp regulate trade

                                                                                    bullE Two-person presidencyChosen by Congress able to be removed

                                                                                    bullJ Single Supreme CourtChosen by Executive

                                                                                    Your Task

                                                                                    Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                                    them to choose your planUse catchy phrasesslogans and be sure to

                                                                                    include the historical features of your plan (VA or NJ)

                                                                                    At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                                    Closure

                                                                                    bullWhat do you think (or know) happens to these two plans

                                                                                    States agreebull States agree to (ratify) the Constitution

                                                                                    only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                    bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                    Quote

                                                                                    bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                    bullWhat words stick to you in this quote Why

                                                                                    Structure of Constitutionbull Provides basic

                                                                                    framework for US government

                                                                                    bull Outlines basic principles structure and processes

                                                                                    bull Three partsmdashPreambleArticlesAmendments

                                                                                    Structure of Constitution bull Preamble

                                                                                    Introduction to the Constitution Lists ideas that the government should stand for

                                                                                    and states purposes We the people of the United States in Order

                                                                                    to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                    6 Purpose of Government bull Form a More Perfect Union

                                                                                    bull Establish Justice bull Insure Domestic Tranquility

                                                                                    bull Provide for the Common Defense

                                                                                    bull Promote the General Welfare

                                                                                    bull Secure the Blessings of Liberty

                                                                                    For each phrase consider the followinghellip

                                                                                    1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                    2 Is this phrase important today

                                                                                    Structure of Constitution bullArticles

                                                                                    Main body of the Constitution Lay out basic structure of the national

                                                                                    governmentFurther broken down into sections and clauses

                                                                                    Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                    Clause oaths of office

                                                                                    Article VII Ratification

                                                                                    Structure of Constitution

                                                                                    bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                    Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                    bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                    Activity

                                                                                    Activity bull STEP 1 bull Fill in the graphic

                                                                                    organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                    bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                    Principle Explanation

                                                                                    Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                    Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                    Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                    Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                    Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                    Federalism Divides the power between the central government and the States

                                                                                    Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                    Question 1

                                                                                    bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                    Popular Sovereignty

                                                                                    Question 2

                                                                                    bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                    Limited Government

                                                                                    Question 3

                                                                                    bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                    Limited Government

                                                                                    Question 4

                                                                                    bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                    SEPARATION OF POWERS

                                                                                    Question 5

                                                                                    bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                    Checks and Balances

                                                                                    Question 6

                                                                                    bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                    CHECKS AND BALANCES

                                                                                    Question 7

                                                                                    bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                    JUDICIAL REVIEW

                                                                                    Question 8

                                                                                    bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                    Federalism

                                                                                    GroupsPopular

                                                                                    SovereigntySeparation of

                                                                                    PowersFederalism

                                                                                    bull bull bull

                                                                                    Judicial Review

                                                                                    Limited Government

                                                                                    Checks and Balances

                                                                                    bull bull bull

                                                                                    Separation of Powers

                                                                                    bull Legislative branchmdashmakes the laws

                                                                                    bull Executive branchmdashenforces the laws

                                                                                    bull Judicial branchmdashinterprets the law

                                                                                    Video

                                                                                    bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                    Checks and Balances

                                                                                    Checks and balances

                                                                                    bullIn what was do the branches check on one another

                                                                                    bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                    Basic Principles

                                                                                    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                    Self- Worth

                                                                                    bull A recognition of the fundamental worth of every person

                                                                                    bull The democratic process reflects the collective set of individuals who make up society

                                                                                    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                    Compromise

                                                                                    bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                    bullWhy is compromise important

                                                                                    Individual Freedombull Right of the

                                                                                    individual to be free as far as the freedom of all will allow

                                                                                    bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                    Write your ownhellipbull Now that you know what the foundations of

                                                                                    government arehellip Create your own Constitution (Or social contract)

                                                                                    What do you think is important to include What do you think could be taken out

                                                                                    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                    Preamble (brief introduction) Articles (what should it include based on what we

                                                                                    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                    change it)

                                                                                    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                    paper

                                                                                    TED Talk

                                                                                    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                    Closure

                                                                                    bullExplain two principles of the constitution and how are they connected

                                                                                    What is Economics

                                                                                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                    Important Parts of Economicsndash

                                                                                    CHOICESSCARCITY

                                                                                    Economics ishellip

                                                                                    bullDependent upon assumptions

                                                                                    bullDependent upon simplification of reality

                                                                                    Back to our assumptionshellip

                                                                                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                    bullAll sellers seek to maximize profits

                                                                                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                    For the videohellip

                                                                                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                    Post Videohellip

                                                                                    bullDefine the main idea of the video in 4-5 words

                                                                                    Advertisement

                                                                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                    3 images that represent different economic ideas

                                                                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                    1 slogan that represents why economics is an important course to take

                                                                                    Political Cartoon Analysis

                                                                                    Factors of Production bull LAND

                                                                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                    soil minerals water and plants

                                                                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                    into producing goodsservices

                                                                                    bull CAPITAL Includes tools machines buildings and

                                                                                    technologies

                                                                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                    land labor and capital to produce goods and services

                                                                                    TASK

                                                                                    bullTask Why are entrepreneurs the driving force in our economy

                                                                                    bullAnswer in 2-3 sentences

                                                                                    The price ofhellip

                                                                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                    Economic efficiency is achieved when all available resources are being used

                                                                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                    1 What to produce

                                                                                    bullShould it be military or civilian goods

                                                                                    bullFood or clothingbullMedicine or movies

                                                                                    2 How to produce it

                                                                                    bullAutomated or manual labor

                                                                                    bullExpensive or cheap materials

                                                                                    bullDomestic or overseas labor

                                                                                    3 For whom to produce it

                                                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                                                    Application Activity

                                                                                    bull In groups of 2-3 create your own country (name it please)

                                                                                    bull With your countryrsquos name explain the Population geography and general population

                                                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                    withhellip Images representing what you produce and a

                                                                                    slogan for why your country is awesome

                                                                                    EQs

                                                                                    bullHow does scarcity impact decision making

                                                                                    Objectives amp Essential QuestionsbullObjectives

                                                                                    I will be able to create and reflect on a budget given new economics content

                                                                                    I will be able to understand scarcity and our mixed economy

                                                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                    Group Activity Budget Activity

                                                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                    How do we satisfy our economic wants

                                                                                    bull We buy goods or services

                                                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                                                    How do we make goods amp services

                                                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                    Production Equation

                                                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                    inputs output

                                                                                    Economic Interdependence

                                                                                    bullWhat does lsquointerdependencersquo mean

                                                                                    bullIs our world becoming economic interdependent or independent

                                                                                    bullEconomic Interdependence the actions of one part of the

                                                                                    country (world) has an impact on what happens elsewhere

                                                                                    Wants amp Needs gt

                                                                                    Resources

                                                                                    Because of scarcity we

                                                                                    have to make choices

                                                                                    How do we make a choice What do we give up

                                                                                    What does this remind you of from our government unit

                                                                                    Making Choices to Deal With Scarcity

                                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                    decision over another

                                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                    school today or should I sleep in

                                                                                    Task Reflecting on Personal Trade-offshellip

                                                                                    In the end what helped you decide amongst your choices

                                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                    tradeoffs for that decision

                                                                                    Be prepared to share

                                                                                    Opportunity Cost

                                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                                    we want

                                                                                    What else influences your choices

                                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                    FinallyhellipWhy it Matters

                                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                    better decision-maker

                                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                    You always have to give something uphelliprdquo

                                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                    decisions

                                                                                    Visualizing the Relationshiphellip

                                                                                    Limited Resources amp Unlimited Wants

                                                                                    Scarcity

                                                                                    Trade-offs (choices)

                                                                                    Opportunity Costs

                                                                                    ObjectivesEssential Questions

                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                    the three different types of economies

                                                                                    bullEssential Question How do the different types of economies work

                                                                                    How Can We Measure What We Gain and Lose When

                                                                                    Making Choices

                                                                                    Answer With a Production Possibilities Frontier

                                                                                    Production Possibilities Frontier

                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                    PPF Assumptions

                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                    Production Possibilities Curve

                                                                                    CD

                                                                                    E

                                                                                    OU

                                                                                    TP

                                                                                    UT

                                                                                    OF

                                                                                    CO

                                                                                    NS

                                                                                    UM

                                                                                    ER

                                                                                    GO

                                                                                    OD

                                                                                    S

                                                                                    (un

                                                                                    its

                                                                                    per

                                                                                    yea

                                                                                    r)

                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                    A

                                                                                    BO

                                                                                    XF

                                                                                    G

                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                    The Choices Nations Make

                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                    bullProduce military goods or consumer goods

                                                                                    Economic Growth

                                                                                    2000 production possibilities

                                                                                    1900 production possibilities

                                                                                    OU

                                                                                    TP

                                                                                    UT

                                                                                    OF

                                                                                    CO

                                                                                    NS

                                                                                    UM

                                                                                    ER

                                                                                    GO

                                                                                    OD

                                                                                    S(u

                                                                                    nits

                                                                                    per

                                                                                    yea

                                                                                    r)

                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                    Production possibilities increases with more resources and technology

                                                                                    The Classic Guns and Butter example

                                                                                    Guns

                                                                                    Butter

                                                                                    10000 20000 30000 40000 50000

                                                                                    1000009500085000

                                                                                    70000

                                                                                    5000040000

                                                                                    BA

                                                                                    C

                                                                                    D

                                                                                    E

                                                                                    F

                                                                                    At point A all resources are used for butter

                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                    At point F all resources are used for Guns

                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                    choices are

                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                    Locations on a PPF

                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                    Food

                                                                                    Computer

                                                                                    4

                                                                                    3

                                                                                    2

                                                                                    1

                                                                                    1 2 3 4

                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                    Unit

                                                                                    Constantly giving up the same quantity of food to get

                                                                                    additional computers

                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                    Principle of Increasing Costs

                                                                                    As a society produces more of one product the OC of producing

                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                    Economic Systems

                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                    Jigsaw activity

                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                    Economic amp Social Goals of an Economic System

                                                                                    bull Economic Freedom

                                                                                    bull Economic Efficiency

                                                                                    bull Economic Equity

                                                                                    bull Economic Security

                                                                                    Economic Stability

                                                                                    Economic Growth

                                                                                    Review of Economic Systems

                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                    What are the most important goals of each economic system

                                                                                    bullTraditionalSecurity and

                                                                                    StabilitybullCommand

                                                                                    Equity and Security

                                                                                    bullMARKETEfficiency and

                                                                                    Freedom

                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                    at the expense of another (TRADEOFFS)

                                                                                    Which economic system does the US use

                                                                                    The American Economic System

                                                                                    bullWe have a mixed market economy

                                                                                    COMMAND MARKET

                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                    Think backhellip

                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                    2 Limited government

                                                                                    3 Equal opportunity

                                                                                    4 Competition

                                                                                    5 Profit motive

                                                                                    6 Property Rights

                                                                                    7 Binding Contracts

                                                                                    Understanding how all parts fit together

                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                    Shows interdependence between

                                                                                    businesses and individuals

                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                    Do you remember

                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                    democracy and mixed economy

                                                                                    • Foundations of Government and Economics
                                                                                    • On your blank piece of paperhellip
                                                                                    • Slide 3
                                                                                    • Warm-Up 1 - 9414
                                                                                    • Introductory thoughts hellip
                                                                                    • Slide 6
                                                                                    • 2 How about to your life
                                                                                    • Slide 8
                                                                                    • Slide 9
                                                                                    • Slide 10
                                                                                    • Slide 11
                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                    • Warm up 2bndash In Journal-
                                                                                    • Economist and Politician Assumptions
                                                                                    • Individualism
                                                                                    • Quote activity
                                                                                    • Quote breakdown
                                                                                    • Warm Up 3- Current Event 9814
                                                                                    • Purpose of Government
                                                                                    • Slide 20
                                                                                    • 3 Theorists
                                                                                    • Activity
                                                                                    • Origins of American Government A customized government
                                                                                    • Origins of American Government A customized government (2)
                                                                                    • Origins of American Government A customized government (3)
                                                                                    • With which theory do you agree more Why
                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                    • Groups Block 2
                                                                                    • Groups Block 4
                                                                                    • Balloon Game
                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                    • Balloon Game Debriefing
                                                                                    • Political Theories
                                                                                    • Social Contract
                                                                                    • Natural Rights
                                                                                    • Democracy
                                                                                    • Concepts of Government
                                                                                    • Warm up 6 ndash 91114
                                                                                    • Warm Up 7
                                                                                    • And after the Constitution
                                                                                    • Activity (2)
                                                                                    • Picture Activity
                                                                                    • Constitutional Convention
                                                                                    • Purpose of the Convention
                                                                                    • VA Plan v NJ Plan
                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                    • Your Task
                                                                                    • Closure
                                                                                    • States agree
                                                                                    • Quote
                                                                                    • Structure of Constitution
                                                                                    • Structure of Constitution
                                                                                    • 6 Purpose of Government
                                                                                    • Structure of Constitution (2)
                                                                                    • Structure of Constitution (3)
                                                                                    • Principles of Constitution
                                                                                    • Activity
                                                                                    • Slide 60
                                                                                    • Check for Understanding Six Principles
                                                                                    • Question 1
                                                                                    • Question 2
                                                                                    • Question 3
                                                                                    • Question 4
                                                                                    • Question 5
                                                                                    • Question 6
                                                                                    • Question 7
                                                                                    • Question 8
                                                                                    • Groups
                                                                                    • Separation of Powers
                                                                                    • Video
                                                                                    • Checks and Balances
                                                                                    • Slide 74
                                                                                    • Checks and balances
                                                                                    • Basic Principles
                                                                                    • Self- Worth
                                                                                    • Equality
                                                                                    • Compromise
                                                                                    • Individual Freedom
                                                                                    • Write your ownhellip
                                                                                    • Slide 82
                                                                                    • TED Talk
                                                                                    • Closure
                                                                                    • What is Economics
                                                                                    • Economics ishellip
                                                                                    • Back to our assumptionshellip
                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                    • For the videohellip
                                                                                    • Slide 90
                                                                                    • Post Videohellip
                                                                                    • Advertisement
                                                                                    • Political Cartoon Analysis
                                                                                    • Factors of Production
                                                                                    • TASK
                                                                                    • The price ofhellip
                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                    • 1 What to produce
                                                                                    • 2 How to produce it
                                                                                    • 3 For whom to produce it
                                                                                    • Application Activity
                                                                                    • EQs
                                                                                    • Objectives amp Essential Questions
                                                                                    • Group Activity Budget Activity
                                                                                    • Slide 105
                                                                                    • How do we satisfy our economic wants
                                                                                    • How do we make goods amp services
                                                                                    • Economic Interdependence
                                                                                    • Slide 109
                                                                                    • Making Choices to Deal With Scarcity
                                                                                    • Exampleshellip
                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                    • Opportunity Cost
                                                                                    • What else influences your choices
                                                                                    • Finallyhellip Why it Matters
                                                                                    • Visualizing the Relationshiphellip
                                                                                    • ObjectivesEssential Questions
                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                    • Production Possibilities Frontier
                                                                                    • PPF Assumptions
                                                                                    • Slide 121
                                                                                    • Production Possibilities Curve
                                                                                    • The Choices Nations Make
                                                                                    • Economic Growth
                                                                                    • The Classic Guns and Butter example
                                                                                    • Productivity
                                                                                    • Locations on a PPF
                                                                                    • Slide 128
                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                    • Economic Systems
                                                                                    • Jigsaw activity
                                                                                    • Slide 132
                                                                                    • Economic amp Social Goals of an Economic System
                                                                                    • Review of Economic Systems
                                                                                    • Slide 135
                                                                                    • What are the most important goals of each economic system
                                                                                    • Which economic system does the US use
                                                                                    • The American Economic System
                                                                                    • The US mixed economy
                                                                                    • Slide 140
                                                                                    • Think backhellip
                                                                                    • US Economic System Characteristics
                                                                                    • Slide 143
                                                                                    • Understanding how all parts fit together
                                                                                    • Marriage Vows
                                                                                    • Do you remember
                                                                                    • Slide 147

                                                                                      Constitutional Convention

                                                                                      bullMet in Philadelphia in 1787

                                                                                      bullComposed of some of the greatest thinkers educators statesmen and politicians of the day

                                                                                      bullThese men were collectively known as ldquoThe Framersrdquo

                                                                                      Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                                      Confederation bullDelegates quickly realized they were

                                                                                      meeting to create a new government (with 3 branches)

                                                                                      VA Plan v NJ Plan

                                                                                      Several plans were proposed to correct the weaknesses of the Articles

                                                                                      bullVirginia PlanbullNew Jersey Plan

                                                                                      Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                                      Virginia Plan ldquoLarge State Planrdquo

                                                                                      bullStrong central govrsquotbullL Bicameral Congress

                                                                                      Representation based on population

                                                                                      bullE ldquoPresidentrdquo Chosen by Congress

                                                                                      bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                                      New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                                      Each state would have = representationExpand power to tax amp regulate trade

                                                                                      bullE Two-person presidencyChosen by Congress able to be removed

                                                                                      bullJ Single Supreme CourtChosen by Executive

                                                                                      Your Task

                                                                                      Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                                      them to choose your planUse catchy phrasesslogans and be sure to

                                                                                      include the historical features of your plan (VA or NJ)

                                                                                      At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                                      Closure

                                                                                      bullWhat do you think (or know) happens to these two plans

                                                                                      States agreebull States agree to (ratify) the Constitution

                                                                                      only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                      bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                      Quote

                                                                                      bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                      bullWhat words stick to you in this quote Why

                                                                                      Structure of Constitutionbull Provides basic

                                                                                      framework for US government

                                                                                      bull Outlines basic principles structure and processes

                                                                                      bull Three partsmdashPreambleArticlesAmendments

                                                                                      Structure of Constitution bull Preamble

                                                                                      Introduction to the Constitution Lists ideas that the government should stand for

                                                                                      and states purposes We the people of the United States in Order

                                                                                      to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                      6 Purpose of Government bull Form a More Perfect Union

                                                                                      bull Establish Justice bull Insure Domestic Tranquility

                                                                                      bull Provide for the Common Defense

                                                                                      bull Promote the General Welfare

                                                                                      bull Secure the Blessings of Liberty

                                                                                      For each phrase consider the followinghellip

                                                                                      1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                      2 Is this phrase important today

                                                                                      Structure of Constitution bullArticles

                                                                                      Main body of the Constitution Lay out basic structure of the national

                                                                                      governmentFurther broken down into sections and clauses

                                                                                      Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                      Clause oaths of office

                                                                                      Article VII Ratification

                                                                                      Structure of Constitution

                                                                                      bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                      Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                      bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                      Activity

                                                                                      Activity bull STEP 1 bull Fill in the graphic

                                                                                      organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                      bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                      Principle Explanation

                                                                                      Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                      Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                      Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                      Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                      Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                      Federalism Divides the power between the central government and the States

                                                                                      Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                      Question 1

                                                                                      bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                      Popular Sovereignty

                                                                                      Question 2

                                                                                      bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                      Limited Government

                                                                                      Question 3

                                                                                      bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                      Limited Government

                                                                                      Question 4

                                                                                      bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                      SEPARATION OF POWERS

                                                                                      Question 5

                                                                                      bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                      Checks and Balances

                                                                                      Question 6

                                                                                      bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                      CHECKS AND BALANCES

                                                                                      Question 7

                                                                                      bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                      JUDICIAL REVIEW

                                                                                      Question 8

                                                                                      bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                      Federalism

                                                                                      GroupsPopular

                                                                                      SovereigntySeparation of

                                                                                      PowersFederalism

                                                                                      bull bull bull

                                                                                      Judicial Review

                                                                                      Limited Government

                                                                                      Checks and Balances

                                                                                      bull bull bull

                                                                                      Separation of Powers

                                                                                      bull Legislative branchmdashmakes the laws

                                                                                      bull Executive branchmdashenforces the laws

                                                                                      bull Judicial branchmdashinterprets the law

                                                                                      Video

                                                                                      bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                      Checks and Balances

                                                                                      Checks and balances

                                                                                      bullIn what was do the branches check on one another

                                                                                      bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                      Basic Principles

                                                                                      bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                      Self- Worth

                                                                                      bull A recognition of the fundamental worth of every person

                                                                                      bull The democratic process reflects the collective set of individuals who make up society

                                                                                      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                      Compromise

                                                                                      bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                      bullWhy is compromise important

                                                                                      Individual Freedombull Right of the

                                                                                      individual to be free as far as the freedom of all will allow

                                                                                      bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                      Write your ownhellipbull Now that you know what the foundations of

                                                                                      government arehellip Create your own Constitution (Or social contract)

                                                                                      What do you think is important to include What do you think could be taken out

                                                                                      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                      Preamble (brief introduction) Articles (what should it include based on what we

                                                                                      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                      change it)

                                                                                      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                      paper

                                                                                      TED Talk

                                                                                      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                      Closure

                                                                                      bullExplain two principles of the constitution and how are they connected

                                                                                      What is Economics

                                                                                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                      Important Parts of Economicsndash

                                                                                      CHOICESSCARCITY

                                                                                      Economics ishellip

                                                                                      bullDependent upon assumptions

                                                                                      bullDependent upon simplification of reality

                                                                                      Back to our assumptionshellip

                                                                                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                      bullAll sellers seek to maximize profits

                                                                                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                      For the videohellip

                                                                                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                      Post Videohellip

                                                                                      bullDefine the main idea of the video in 4-5 words

                                                                                      Advertisement

                                                                                      bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                      3 images that represent different economic ideas

                                                                                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                      1 slogan that represents why economics is an important course to take

                                                                                      Political Cartoon Analysis

                                                                                      Factors of Production bull LAND

                                                                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                      soil minerals water and plants

                                                                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                      into producing goodsservices

                                                                                      bull CAPITAL Includes tools machines buildings and

                                                                                      technologies

                                                                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                      land labor and capital to produce goods and services

                                                                                      TASK

                                                                                      bullTask Why are entrepreneurs the driving force in our economy

                                                                                      bullAnswer in 2-3 sentences

                                                                                      The price ofhellip

                                                                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                      Economic efficiency is achieved when all available resources are being used

                                                                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                      1 What to produce

                                                                                      bullShould it be military or civilian goods

                                                                                      bullFood or clothingbullMedicine or movies

                                                                                      2 How to produce it

                                                                                      bullAutomated or manual labor

                                                                                      bullExpensive or cheap materials

                                                                                      bullDomestic or overseas labor

                                                                                      3 For whom to produce it

                                                                                      bullThe wealthy or the needybullThe sick or the healthy

                                                                                      Application Activity

                                                                                      bull In groups of 2-3 create your own country (name it please)

                                                                                      bull With your countryrsquos name explain the Population geography and general population

                                                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                      withhellip Images representing what you produce and a

                                                                                      slogan for why your country is awesome

                                                                                      EQs

                                                                                      bullHow does scarcity impact decision making

                                                                                      Objectives amp Essential QuestionsbullObjectives

                                                                                      I will be able to create and reflect on a budget given new economics content

                                                                                      I will be able to understand scarcity and our mixed economy

                                                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                      Group Activity Budget Activity

                                                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                      How do we satisfy our economic wants

                                                                                      bull We buy goods or services

                                                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                                                      How do we make goods amp services

                                                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                      Production Equation

                                                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                      inputs output

                                                                                      Economic Interdependence

                                                                                      bullWhat does lsquointerdependencersquo mean

                                                                                      bullIs our world becoming economic interdependent or independent

                                                                                      bullEconomic Interdependence the actions of one part of the

                                                                                      country (world) has an impact on what happens elsewhere

                                                                                      Wants amp Needs gt

                                                                                      Resources

                                                                                      Because of scarcity we

                                                                                      have to make choices

                                                                                      How do we make a choice What do we give up

                                                                                      What does this remind you of from our government unit

                                                                                      Making Choices to Deal With Scarcity

                                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                      decision over another

                                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                      school today or should I sleep in

                                                                                      Task Reflecting on Personal Trade-offshellip

                                                                                      In the end what helped you decide amongst your choices

                                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                      tradeoffs for that decision

                                                                                      Be prepared to share

                                                                                      Opportunity Cost

                                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                                      we want

                                                                                      What else influences your choices

                                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                      FinallyhellipWhy it Matters

                                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                      better decision-maker

                                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                      You always have to give something uphelliprdquo

                                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                      decisions

                                                                                      Visualizing the Relationshiphellip

                                                                                      Limited Resources amp Unlimited Wants

                                                                                      Scarcity

                                                                                      Trade-offs (choices)

                                                                                      Opportunity Costs

                                                                                      ObjectivesEssential Questions

                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                      the three different types of economies

                                                                                      bullEssential Question How do the different types of economies work

                                                                                      How Can We Measure What We Gain and Lose When

                                                                                      Making Choices

                                                                                      Answer With a Production Possibilities Frontier

                                                                                      Production Possibilities Frontier

                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                      PPF Assumptions

                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                      Production Possibilities Curve

                                                                                      CD

                                                                                      E

                                                                                      OU

                                                                                      TP

                                                                                      UT

                                                                                      OF

                                                                                      CO

                                                                                      NS

                                                                                      UM

                                                                                      ER

                                                                                      GO

                                                                                      OD

                                                                                      S

                                                                                      (un

                                                                                      its

                                                                                      per

                                                                                      yea

                                                                                      r)

                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                      A

                                                                                      BO

                                                                                      XF

                                                                                      G

                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                      The Choices Nations Make

                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                      bullProduce military goods or consumer goods

                                                                                      Economic Growth

                                                                                      2000 production possibilities

                                                                                      1900 production possibilities

                                                                                      OU

                                                                                      TP

                                                                                      UT

                                                                                      OF

                                                                                      CO

                                                                                      NS

                                                                                      UM

                                                                                      ER

                                                                                      GO

                                                                                      OD

                                                                                      S(u

                                                                                      nits

                                                                                      per

                                                                                      yea

                                                                                      r)

                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                      Production possibilities increases with more resources and technology

                                                                                      The Classic Guns and Butter example

                                                                                      Guns

                                                                                      Butter

                                                                                      10000 20000 30000 40000 50000

                                                                                      1000009500085000

                                                                                      70000

                                                                                      5000040000

                                                                                      BA

                                                                                      C

                                                                                      D

                                                                                      E

                                                                                      F

                                                                                      At point A all resources are used for butter

                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                      At point F all resources are used for Guns

                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                      choices are

                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                      Locations on a PPF

                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                      Food

                                                                                      Computer

                                                                                      4

                                                                                      3

                                                                                      2

                                                                                      1

                                                                                      1 2 3 4

                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                      Unit

                                                                                      Constantly giving up the same quantity of food to get

                                                                                      additional computers

                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                      Principle of Increasing Costs

                                                                                      As a society produces more of one product the OC of producing

                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                      Economic Systems

                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                      Jigsaw activity

                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                      Economic amp Social Goals of an Economic System

                                                                                      bull Economic Freedom

                                                                                      bull Economic Efficiency

                                                                                      bull Economic Equity

                                                                                      bull Economic Security

                                                                                      Economic Stability

                                                                                      Economic Growth

                                                                                      Review of Economic Systems

                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                      What are the most important goals of each economic system

                                                                                      bullTraditionalSecurity and

                                                                                      StabilitybullCommand

                                                                                      Equity and Security

                                                                                      bullMARKETEfficiency and

                                                                                      Freedom

                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                      at the expense of another (TRADEOFFS)

                                                                                      Which economic system does the US use

                                                                                      The American Economic System

                                                                                      bullWe have a mixed market economy

                                                                                      COMMAND MARKET

                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                      Think backhellip

                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                      2 Limited government

                                                                                      3 Equal opportunity

                                                                                      4 Competition

                                                                                      5 Profit motive

                                                                                      6 Property Rights

                                                                                      7 Binding Contracts

                                                                                      Understanding how all parts fit together

                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                      Shows interdependence between

                                                                                      businesses and individuals

                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                      Do you remember

                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                      democracy and mixed economy

                                                                                      • Foundations of Government and Economics
                                                                                      • On your blank piece of paperhellip
                                                                                      • Slide 3
                                                                                      • Warm-Up 1 - 9414
                                                                                      • Introductory thoughts hellip
                                                                                      • Slide 6
                                                                                      • 2 How about to your life
                                                                                      • Slide 8
                                                                                      • Slide 9
                                                                                      • Slide 10
                                                                                      • Slide 11
                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                      • Warm up 2bndash In Journal-
                                                                                      • Economist and Politician Assumptions
                                                                                      • Individualism
                                                                                      • Quote activity
                                                                                      • Quote breakdown
                                                                                      • Warm Up 3- Current Event 9814
                                                                                      • Purpose of Government
                                                                                      • Slide 20
                                                                                      • 3 Theorists
                                                                                      • Activity
                                                                                      • Origins of American Government A customized government
                                                                                      • Origins of American Government A customized government (2)
                                                                                      • Origins of American Government A customized government (3)
                                                                                      • With which theory do you agree more Why
                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                      • Groups Block 2
                                                                                      • Groups Block 4
                                                                                      • Balloon Game
                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                      • Balloon Game Debriefing
                                                                                      • Political Theories
                                                                                      • Social Contract
                                                                                      • Natural Rights
                                                                                      • Democracy
                                                                                      • Concepts of Government
                                                                                      • Warm up 6 ndash 91114
                                                                                      • Warm Up 7
                                                                                      • And after the Constitution
                                                                                      • Activity (2)
                                                                                      • Picture Activity
                                                                                      • Constitutional Convention
                                                                                      • Purpose of the Convention
                                                                                      • VA Plan v NJ Plan
                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                      • Your Task
                                                                                      • Closure
                                                                                      • States agree
                                                                                      • Quote
                                                                                      • Structure of Constitution
                                                                                      • Structure of Constitution
                                                                                      • 6 Purpose of Government
                                                                                      • Structure of Constitution (2)
                                                                                      • Structure of Constitution (3)
                                                                                      • Principles of Constitution
                                                                                      • Activity
                                                                                      • Slide 60
                                                                                      • Check for Understanding Six Principles
                                                                                      • Question 1
                                                                                      • Question 2
                                                                                      • Question 3
                                                                                      • Question 4
                                                                                      • Question 5
                                                                                      • Question 6
                                                                                      • Question 7
                                                                                      • Question 8
                                                                                      • Groups
                                                                                      • Separation of Powers
                                                                                      • Video
                                                                                      • Checks and Balances
                                                                                      • Slide 74
                                                                                      • Checks and balances
                                                                                      • Basic Principles
                                                                                      • Self- Worth
                                                                                      • Equality
                                                                                      • Compromise
                                                                                      • Individual Freedom
                                                                                      • Write your ownhellip
                                                                                      • Slide 82
                                                                                      • TED Talk
                                                                                      • Closure
                                                                                      • What is Economics
                                                                                      • Economics ishellip
                                                                                      • Back to our assumptionshellip
                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                      • For the videohellip
                                                                                      • Slide 90
                                                                                      • Post Videohellip
                                                                                      • Advertisement
                                                                                      • Political Cartoon Analysis
                                                                                      • Factors of Production
                                                                                      • TASK
                                                                                      • The price ofhellip
                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                      • 1 What to produce
                                                                                      • 2 How to produce it
                                                                                      • 3 For whom to produce it
                                                                                      • Application Activity
                                                                                      • EQs
                                                                                      • Objectives amp Essential Questions
                                                                                      • Group Activity Budget Activity
                                                                                      • Slide 105
                                                                                      • How do we satisfy our economic wants
                                                                                      • How do we make goods amp services
                                                                                      • Economic Interdependence
                                                                                      • Slide 109
                                                                                      • Making Choices to Deal With Scarcity
                                                                                      • Exampleshellip
                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                      • Opportunity Cost
                                                                                      • What else influences your choices
                                                                                      • Finallyhellip Why it Matters
                                                                                      • Visualizing the Relationshiphellip
                                                                                      • ObjectivesEssential Questions
                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                      • Production Possibilities Frontier
                                                                                      • PPF Assumptions
                                                                                      • Slide 121
                                                                                      • Production Possibilities Curve
                                                                                      • The Choices Nations Make
                                                                                      • Economic Growth
                                                                                      • The Classic Guns and Butter example
                                                                                      • Productivity
                                                                                      • Locations on a PPF
                                                                                      • Slide 128
                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                      • Economic Systems
                                                                                      • Jigsaw activity
                                                                                      • Slide 132
                                                                                      • Economic amp Social Goals of an Economic System
                                                                                      • Review of Economic Systems
                                                                                      • Slide 135
                                                                                      • What are the most important goals of each economic system
                                                                                      • Which economic system does the US use
                                                                                      • The American Economic System
                                                                                      • The US mixed economy
                                                                                      • Slide 140
                                                                                      • Think backhellip
                                                                                      • US Economic System Characteristics
                                                                                      • Slide 143
                                                                                      • Understanding how all parts fit together
                                                                                      • Marriage Vows
                                                                                      • Do you remember
                                                                                      • Slide 147

                                                                                        Purpose of the ConventionbullInitial Purpose was to revise the Articles of

                                                                                        Confederation bullDelegates quickly realized they were

                                                                                        meeting to create a new government (with 3 branches)

                                                                                        VA Plan v NJ Plan

                                                                                        Several plans were proposed to correct the weaknesses of the Articles

                                                                                        bullVirginia PlanbullNew Jersey Plan

                                                                                        Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                                        Virginia Plan ldquoLarge State Planrdquo

                                                                                        bullStrong central govrsquotbullL Bicameral Congress

                                                                                        Representation based on population

                                                                                        bullE ldquoPresidentrdquo Chosen by Congress

                                                                                        bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                                        New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                                        Each state would have = representationExpand power to tax amp regulate trade

                                                                                        bullE Two-person presidencyChosen by Congress able to be removed

                                                                                        bullJ Single Supreme CourtChosen by Executive

                                                                                        Your Task

                                                                                        Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                                        them to choose your planUse catchy phrasesslogans and be sure to

                                                                                        include the historical features of your plan (VA or NJ)

                                                                                        At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                                        Closure

                                                                                        bullWhat do you think (or know) happens to these two plans

                                                                                        States agreebull States agree to (ratify) the Constitution

                                                                                        only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                        bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                        Quote

                                                                                        bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                        bullWhat words stick to you in this quote Why

                                                                                        Structure of Constitutionbull Provides basic

                                                                                        framework for US government

                                                                                        bull Outlines basic principles structure and processes

                                                                                        bull Three partsmdashPreambleArticlesAmendments

                                                                                        Structure of Constitution bull Preamble

                                                                                        Introduction to the Constitution Lists ideas that the government should stand for

                                                                                        and states purposes We the people of the United States in Order

                                                                                        to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                        6 Purpose of Government bull Form a More Perfect Union

                                                                                        bull Establish Justice bull Insure Domestic Tranquility

                                                                                        bull Provide for the Common Defense

                                                                                        bull Promote the General Welfare

                                                                                        bull Secure the Blessings of Liberty

                                                                                        For each phrase consider the followinghellip

                                                                                        1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                        2 Is this phrase important today

                                                                                        Structure of Constitution bullArticles

                                                                                        Main body of the Constitution Lay out basic structure of the national

                                                                                        governmentFurther broken down into sections and clauses

                                                                                        Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                        Clause oaths of office

                                                                                        Article VII Ratification

                                                                                        Structure of Constitution

                                                                                        bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                        Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                        bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                        Activity

                                                                                        Activity bull STEP 1 bull Fill in the graphic

                                                                                        organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                        bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                        Principle Explanation

                                                                                        Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                        Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                        Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                        Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                        Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                        Federalism Divides the power between the central government and the States

                                                                                        Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                        Question 1

                                                                                        bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                        Popular Sovereignty

                                                                                        Question 2

                                                                                        bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                        Limited Government

                                                                                        Question 3

                                                                                        bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                        Limited Government

                                                                                        Question 4

                                                                                        bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                        SEPARATION OF POWERS

                                                                                        Question 5

                                                                                        bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                        Checks and Balances

                                                                                        Question 6

                                                                                        bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                        CHECKS AND BALANCES

                                                                                        Question 7

                                                                                        bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                        JUDICIAL REVIEW

                                                                                        Question 8

                                                                                        bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                        Federalism

                                                                                        GroupsPopular

                                                                                        SovereigntySeparation of

                                                                                        PowersFederalism

                                                                                        bull bull bull

                                                                                        Judicial Review

                                                                                        Limited Government

                                                                                        Checks and Balances

                                                                                        bull bull bull

                                                                                        Separation of Powers

                                                                                        bull Legislative branchmdashmakes the laws

                                                                                        bull Executive branchmdashenforces the laws

                                                                                        bull Judicial branchmdashinterprets the law

                                                                                        Video

                                                                                        bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                        Checks and Balances

                                                                                        Checks and balances

                                                                                        bullIn what was do the branches check on one another

                                                                                        bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                        Basic Principles

                                                                                        bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                        Self- Worth

                                                                                        bull A recognition of the fundamental worth of every person

                                                                                        bull The democratic process reflects the collective set of individuals who make up society

                                                                                        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                        Compromise

                                                                                        bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                        bullWhy is compromise important

                                                                                        Individual Freedombull Right of the

                                                                                        individual to be free as far as the freedom of all will allow

                                                                                        bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                        Write your ownhellipbull Now that you know what the foundations of

                                                                                        government arehellip Create your own Constitution (Or social contract)

                                                                                        What do you think is important to include What do you think could be taken out

                                                                                        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                        Preamble (brief introduction) Articles (what should it include based on what we

                                                                                        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                        change it)

                                                                                        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                        paper

                                                                                        TED Talk

                                                                                        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                        Closure

                                                                                        bullExplain two principles of the constitution and how are they connected

                                                                                        What is Economics

                                                                                        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                        Important Parts of Economicsndash

                                                                                        CHOICESSCARCITY

                                                                                        Economics ishellip

                                                                                        bullDependent upon assumptions

                                                                                        bullDependent upon simplification of reality

                                                                                        Back to our assumptionshellip

                                                                                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                        bullAll sellers seek to maximize profits

                                                                                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                        For the videohellip

                                                                                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                        Post Videohellip

                                                                                        bullDefine the main idea of the video in 4-5 words

                                                                                        Advertisement

                                                                                        bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                        3 images that represent different economic ideas

                                                                                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                        1 slogan that represents why economics is an important course to take

                                                                                        Political Cartoon Analysis

                                                                                        Factors of Production bull LAND

                                                                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                        soil minerals water and plants

                                                                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                        into producing goodsservices

                                                                                        bull CAPITAL Includes tools machines buildings and

                                                                                        technologies

                                                                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                        land labor and capital to produce goods and services

                                                                                        TASK

                                                                                        bullTask Why are entrepreneurs the driving force in our economy

                                                                                        bullAnswer in 2-3 sentences

                                                                                        The price ofhellip

                                                                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                        Economic efficiency is achieved when all available resources are being used

                                                                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                        1 What to produce

                                                                                        bullShould it be military or civilian goods

                                                                                        bullFood or clothingbullMedicine or movies

                                                                                        2 How to produce it

                                                                                        bullAutomated or manual labor

                                                                                        bullExpensive or cheap materials

                                                                                        bullDomestic or overseas labor

                                                                                        3 For whom to produce it

                                                                                        bullThe wealthy or the needybullThe sick or the healthy

                                                                                        Application Activity

                                                                                        bull In groups of 2-3 create your own country (name it please)

                                                                                        bull With your countryrsquos name explain the Population geography and general population

                                                                                        information (iehellipbull Choose 5 items for your country to produce and

                                                                                        answer the three societal questions for eachALSO explain why this material would help your

                                                                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                        withhellip Images representing what you produce and a

                                                                                        slogan for why your country is awesome

                                                                                        EQs

                                                                                        bullHow does scarcity impact decision making

                                                                                        Objectives amp Essential QuestionsbullObjectives

                                                                                        I will be able to create and reflect on a budget given new economics content

                                                                                        I will be able to understand scarcity and our mixed economy

                                                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                        Group Activity Budget Activity

                                                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                        How do we satisfy our economic wants

                                                                                        bull We buy goods or services

                                                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                                                        How do we make goods amp services

                                                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                        Production Equation

                                                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                        inputs output

                                                                                        Economic Interdependence

                                                                                        bullWhat does lsquointerdependencersquo mean

                                                                                        bullIs our world becoming economic interdependent or independent

                                                                                        bullEconomic Interdependence the actions of one part of the

                                                                                        country (world) has an impact on what happens elsewhere

                                                                                        Wants amp Needs gt

                                                                                        Resources

                                                                                        Because of scarcity we

                                                                                        have to make choices

                                                                                        How do we make a choice What do we give up

                                                                                        What does this remind you of from our government unit

                                                                                        Making Choices to Deal With Scarcity

                                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                        decision over another

                                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                        school today or should I sleep in

                                                                                        Task Reflecting on Personal Trade-offshellip

                                                                                        In the end what helped you decide amongst your choices

                                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                        tradeoffs for that decision

                                                                                        Be prepared to share

                                                                                        Opportunity Cost

                                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                                        we want

                                                                                        What else influences your choices

                                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                        FinallyhellipWhy it Matters

                                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                        better decision-maker

                                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                        You always have to give something uphelliprdquo

                                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                        decisions

                                                                                        Visualizing the Relationshiphellip

                                                                                        Limited Resources amp Unlimited Wants

                                                                                        Scarcity

                                                                                        Trade-offs (choices)

                                                                                        Opportunity Costs

                                                                                        ObjectivesEssential Questions

                                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                                        the three different types of economies

                                                                                        bullEssential Question How do the different types of economies work

                                                                                        How Can We Measure What We Gain and Lose When

                                                                                        Making Choices

                                                                                        Answer With a Production Possibilities Frontier

                                                                                        Production Possibilities Frontier

                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                        PPF Assumptions

                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                        Production Possibilities Curve

                                                                                        CD

                                                                                        E

                                                                                        OU

                                                                                        TP

                                                                                        UT

                                                                                        OF

                                                                                        CO

                                                                                        NS

                                                                                        UM

                                                                                        ER

                                                                                        GO

                                                                                        OD

                                                                                        S

                                                                                        (un

                                                                                        its

                                                                                        per

                                                                                        yea

                                                                                        r)

                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                        A

                                                                                        BO

                                                                                        XF

                                                                                        G

                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                        The Choices Nations Make

                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                        bullProduce military goods or consumer goods

                                                                                        Economic Growth

                                                                                        2000 production possibilities

                                                                                        1900 production possibilities

                                                                                        OU

                                                                                        TP

                                                                                        UT

                                                                                        OF

                                                                                        CO

                                                                                        NS

                                                                                        UM

                                                                                        ER

                                                                                        GO

                                                                                        OD

                                                                                        S(u

                                                                                        nits

                                                                                        per

                                                                                        yea

                                                                                        r)

                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                        Production possibilities increases with more resources and technology

                                                                                        The Classic Guns and Butter example

                                                                                        Guns

                                                                                        Butter

                                                                                        10000 20000 30000 40000 50000

                                                                                        1000009500085000

                                                                                        70000

                                                                                        5000040000

                                                                                        BA

                                                                                        C

                                                                                        D

                                                                                        E

                                                                                        F

                                                                                        At point A all resources are used for butter

                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                        At point F all resources are used for Guns

                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                        choices are

                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                        Locations on a PPF

                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                        Food

                                                                                        Computer

                                                                                        4

                                                                                        3

                                                                                        2

                                                                                        1

                                                                                        1 2 3 4

                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                        Unit

                                                                                        Constantly giving up the same quantity of food to get

                                                                                        additional computers

                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                        Principle of Increasing Costs

                                                                                        As a society produces more of one product the OC of producing

                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                        Economic Systems

                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                        Jigsaw activity

                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                        Economic amp Social Goals of an Economic System

                                                                                        bull Economic Freedom

                                                                                        bull Economic Efficiency

                                                                                        bull Economic Equity

                                                                                        bull Economic Security

                                                                                        Economic Stability

                                                                                        Economic Growth

                                                                                        Review of Economic Systems

                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                        What are the most important goals of each economic system

                                                                                        bullTraditionalSecurity and

                                                                                        StabilitybullCommand

                                                                                        Equity and Security

                                                                                        bullMARKETEfficiency and

                                                                                        Freedom

                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                        at the expense of another (TRADEOFFS)

                                                                                        Which economic system does the US use

                                                                                        The American Economic System

                                                                                        bullWe have a mixed market economy

                                                                                        COMMAND MARKET

                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                        Think backhellip

                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                        2 Limited government

                                                                                        3 Equal opportunity

                                                                                        4 Competition

                                                                                        5 Profit motive

                                                                                        6 Property Rights

                                                                                        7 Binding Contracts

                                                                                        Understanding how all parts fit together

                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                        Shows interdependence between

                                                                                        businesses and individuals

                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                        Do you remember

                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                        democracy and mixed economy

                                                                                        • Foundations of Government and Economics
                                                                                        • On your blank piece of paperhellip
                                                                                        • Slide 3
                                                                                        • Warm-Up 1 - 9414
                                                                                        • Introductory thoughts hellip
                                                                                        • Slide 6
                                                                                        • 2 How about to your life
                                                                                        • Slide 8
                                                                                        • Slide 9
                                                                                        • Slide 10
                                                                                        • Slide 11
                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                        • Warm up 2bndash In Journal-
                                                                                        • Economist and Politician Assumptions
                                                                                        • Individualism
                                                                                        • Quote activity
                                                                                        • Quote breakdown
                                                                                        • Warm Up 3- Current Event 9814
                                                                                        • Purpose of Government
                                                                                        • Slide 20
                                                                                        • 3 Theorists
                                                                                        • Activity
                                                                                        • Origins of American Government A customized government
                                                                                        • Origins of American Government A customized government (2)
                                                                                        • Origins of American Government A customized government (3)
                                                                                        • With which theory do you agree more Why
                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                        • Groups Block 2
                                                                                        • Groups Block 4
                                                                                        • Balloon Game
                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                        • Balloon Game Debriefing
                                                                                        • Political Theories
                                                                                        • Social Contract
                                                                                        • Natural Rights
                                                                                        • Democracy
                                                                                        • Concepts of Government
                                                                                        • Warm up 6 ndash 91114
                                                                                        • Warm Up 7
                                                                                        • And after the Constitution
                                                                                        • Activity (2)
                                                                                        • Picture Activity
                                                                                        • Constitutional Convention
                                                                                        • Purpose of the Convention
                                                                                        • VA Plan v NJ Plan
                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                        • Your Task
                                                                                        • Closure
                                                                                        • States agree
                                                                                        • Quote
                                                                                        • Structure of Constitution
                                                                                        • Structure of Constitution
                                                                                        • 6 Purpose of Government
                                                                                        • Structure of Constitution (2)
                                                                                        • Structure of Constitution (3)
                                                                                        • Principles of Constitution
                                                                                        • Activity
                                                                                        • Slide 60
                                                                                        • Check for Understanding Six Principles
                                                                                        • Question 1
                                                                                        • Question 2
                                                                                        • Question 3
                                                                                        • Question 4
                                                                                        • Question 5
                                                                                        • Question 6
                                                                                        • Question 7
                                                                                        • Question 8
                                                                                        • Groups
                                                                                        • Separation of Powers
                                                                                        • Video
                                                                                        • Checks and Balances
                                                                                        • Slide 74
                                                                                        • Checks and balances
                                                                                        • Basic Principles
                                                                                        • Self- Worth
                                                                                        • Equality
                                                                                        • Compromise
                                                                                        • Individual Freedom
                                                                                        • Write your ownhellip
                                                                                        • Slide 82
                                                                                        • TED Talk
                                                                                        • Closure
                                                                                        • What is Economics
                                                                                        • Economics ishellip
                                                                                        • Back to our assumptionshellip
                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                        • For the videohellip
                                                                                        • Slide 90
                                                                                        • Post Videohellip
                                                                                        • Advertisement
                                                                                        • Political Cartoon Analysis
                                                                                        • Factors of Production
                                                                                        • TASK
                                                                                        • The price ofhellip
                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                        • 1 What to produce
                                                                                        • 2 How to produce it
                                                                                        • 3 For whom to produce it
                                                                                        • Application Activity
                                                                                        • EQs
                                                                                        • Objectives amp Essential Questions
                                                                                        • Group Activity Budget Activity
                                                                                        • Slide 105
                                                                                        • How do we satisfy our economic wants
                                                                                        • How do we make goods amp services
                                                                                        • Economic Interdependence
                                                                                        • Slide 109
                                                                                        • Making Choices to Deal With Scarcity
                                                                                        • Exampleshellip
                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                        • Opportunity Cost
                                                                                        • What else influences your choices
                                                                                        • Finallyhellip Why it Matters
                                                                                        • Visualizing the Relationshiphellip
                                                                                        • ObjectivesEssential Questions
                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                        • Production Possibilities Frontier
                                                                                        • PPF Assumptions
                                                                                        • Slide 121
                                                                                        • Production Possibilities Curve
                                                                                        • The Choices Nations Make
                                                                                        • Economic Growth
                                                                                        • The Classic Guns and Butter example
                                                                                        • Productivity
                                                                                        • Locations on a PPF
                                                                                        • Slide 128
                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                        • Economic Systems
                                                                                        • Jigsaw activity
                                                                                        • Slide 132
                                                                                        • Economic amp Social Goals of an Economic System
                                                                                        • Review of Economic Systems
                                                                                        • Slide 135
                                                                                        • What are the most important goals of each economic system
                                                                                        • Which economic system does the US use
                                                                                        • The American Economic System
                                                                                        • The US mixed economy
                                                                                        • Slide 140
                                                                                        • Think backhellip
                                                                                        • US Economic System Characteristics
                                                                                        • Slide 143
                                                                                        • Understanding how all parts fit together
                                                                                        • Marriage Vows
                                                                                        • Do you remember
                                                                                        • Slide 147

                                                                                          VA Plan v NJ Plan

                                                                                          Several plans were proposed to correct the weaknesses of the Articles

                                                                                          bullVirginia PlanbullNew Jersey Plan

                                                                                          Major similarities between the 2 plansbullThree branches of governmentbullCongress retains powers granted under AOCbullExecutive chosen by Congress

                                                                                          Virginia Plan ldquoLarge State Planrdquo

                                                                                          bullStrong central govrsquotbullL Bicameral Congress

                                                                                          Representation based on population

                                                                                          bullE ldquoPresidentrdquo Chosen by Congress

                                                                                          bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                                          New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                                          Each state would have = representationExpand power to tax amp regulate trade

                                                                                          bullE Two-person presidencyChosen by Congress able to be removed

                                                                                          bullJ Single Supreme CourtChosen by Executive

                                                                                          Your Task

                                                                                          Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                                          them to choose your planUse catchy phrasesslogans and be sure to

                                                                                          include the historical features of your plan (VA or NJ)

                                                                                          At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                                          Closure

                                                                                          bullWhat do you think (or know) happens to these two plans

                                                                                          States agreebull States agree to (ratify) the Constitution

                                                                                          only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                          bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                          Quote

                                                                                          bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                          bullWhat words stick to you in this quote Why

                                                                                          Structure of Constitutionbull Provides basic

                                                                                          framework for US government

                                                                                          bull Outlines basic principles structure and processes

                                                                                          bull Three partsmdashPreambleArticlesAmendments

                                                                                          Structure of Constitution bull Preamble

                                                                                          Introduction to the Constitution Lists ideas that the government should stand for

                                                                                          and states purposes We the people of the United States in Order

                                                                                          to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                          6 Purpose of Government bull Form a More Perfect Union

                                                                                          bull Establish Justice bull Insure Domestic Tranquility

                                                                                          bull Provide for the Common Defense

                                                                                          bull Promote the General Welfare

                                                                                          bull Secure the Blessings of Liberty

                                                                                          For each phrase consider the followinghellip

                                                                                          1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                          2 Is this phrase important today

                                                                                          Structure of Constitution bullArticles

                                                                                          Main body of the Constitution Lay out basic structure of the national

                                                                                          governmentFurther broken down into sections and clauses

                                                                                          Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                          Clause oaths of office

                                                                                          Article VII Ratification

                                                                                          Structure of Constitution

                                                                                          bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                          Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                          bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                          Activity

                                                                                          Activity bull STEP 1 bull Fill in the graphic

                                                                                          organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                          bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                          Principle Explanation

                                                                                          Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                          Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                          Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                          Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                          Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                          Federalism Divides the power between the central government and the States

                                                                                          Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                          Question 1

                                                                                          bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                          Popular Sovereignty

                                                                                          Question 2

                                                                                          bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                          Limited Government

                                                                                          Question 3

                                                                                          bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                          Limited Government

                                                                                          Question 4

                                                                                          bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                          SEPARATION OF POWERS

                                                                                          Question 5

                                                                                          bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                          Checks and Balances

                                                                                          Question 6

                                                                                          bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                          CHECKS AND BALANCES

                                                                                          Question 7

                                                                                          bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                          JUDICIAL REVIEW

                                                                                          Question 8

                                                                                          bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                          Federalism

                                                                                          GroupsPopular

                                                                                          SovereigntySeparation of

                                                                                          PowersFederalism

                                                                                          bull bull bull

                                                                                          Judicial Review

                                                                                          Limited Government

                                                                                          Checks and Balances

                                                                                          bull bull bull

                                                                                          Separation of Powers

                                                                                          bull Legislative branchmdashmakes the laws

                                                                                          bull Executive branchmdashenforces the laws

                                                                                          bull Judicial branchmdashinterprets the law

                                                                                          Video

                                                                                          bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                          Checks and Balances

                                                                                          Checks and balances

                                                                                          bullIn what was do the branches check on one another

                                                                                          bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                          Basic Principles

                                                                                          bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                          Self- Worth

                                                                                          bull A recognition of the fundamental worth of every person

                                                                                          bull The democratic process reflects the collective set of individuals who make up society

                                                                                          Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                          bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                          bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                          Compromise

                                                                                          bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                          bullWhy is compromise important

                                                                                          Individual Freedombull Right of the

                                                                                          individual to be free as far as the freedom of all will allow

                                                                                          bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                          Write your ownhellipbull Now that you know what the foundations of

                                                                                          government arehellip Create your own Constitution (Or social contract)

                                                                                          What do you think is important to include What do you think could be taken out

                                                                                          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                          Preamble (brief introduction) Articles (what should it include based on what we

                                                                                          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                          change it)

                                                                                          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                          paper

                                                                                          TED Talk

                                                                                          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                          Closure

                                                                                          bullExplain two principles of the constitution and how are they connected

                                                                                          What is Economics

                                                                                          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                          Important Parts of Economicsndash

                                                                                          CHOICESSCARCITY

                                                                                          Economics ishellip

                                                                                          bullDependent upon assumptions

                                                                                          bullDependent upon simplification of reality

                                                                                          Back to our assumptionshellip

                                                                                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                          bullAll sellers seek to maximize profits

                                                                                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                          For the videohellip

                                                                                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                          Post Videohellip

                                                                                          bullDefine the main idea of the video in 4-5 words

                                                                                          Advertisement

                                                                                          bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                          3 images that represent different economic ideas

                                                                                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                          1 slogan that represents why economics is an important course to take

                                                                                          Political Cartoon Analysis

                                                                                          Factors of Production bull LAND

                                                                                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                          soil minerals water and plants

                                                                                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                          into producing goodsservices

                                                                                          bull CAPITAL Includes tools machines buildings and

                                                                                          technologies

                                                                                          bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                          land labor and capital to produce goods and services

                                                                                          TASK

                                                                                          bullTask Why are entrepreneurs the driving force in our economy

                                                                                          bullAnswer in 2-3 sentences

                                                                                          The price ofhellip

                                                                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                          Economic efficiency is achieved when all available resources are being used

                                                                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                          1 What to produce

                                                                                          bullShould it be military or civilian goods

                                                                                          bullFood or clothingbullMedicine or movies

                                                                                          2 How to produce it

                                                                                          bullAutomated or manual labor

                                                                                          bullExpensive or cheap materials

                                                                                          bullDomestic or overseas labor

                                                                                          3 For whom to produce it

                                                                                          bullThe wealthy or the needybullThe sick or the healthy

                                                                                          Application Activity

                                                                                          bull In groups of 2-3 create your own country (name it please)

                                                                                          bull With your countryrsquos name explain the Population geography and general population

                                                                                          information (iehellipbull Choose 5 items for your country to produce and

                                                                                          answer the three societal questions for eachALSO explain why this material would help your

                                                                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                          withhellip Images representing what you produce and a

                                                                                          slogan for why your country is awesome

                                                                                          EQs

                                                                                          bullHow does scarcity impact decision making

                                                                                          Objectives amp Essential QuestionsbullObjectives

                                                                                          I will be able to create and reflect on a budget given new economics content

                                                                                          I will be able to understand scarcity and our mixed economy

                                                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                          Group Activity Budget Activity

                                                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                          How do we satisfy our economic wants

                                                                                          bull We buy goods or services

                                                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                                                          How do we make goods amp services

                                                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                          Production Equation

                                                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                          inputs output

                                                                                          Economic Interdependence

                                                                                          bullWhat does lsquointerdependencersquo mean

                                                                                          bullIs our world becoming economic interdependent or independent

                                                                                          bullEconomic Interdependence the actions of one part of the

                                                                                          country (world) has an impact on what happens elsewhere

                                                                                          Wants amp Needs gt

                                                                                          Resources

                                                                                          Because of scarcity we

                                                                                          have to make choices

                                                                                          How do we make a choice What do we give up

                                                                                          What does this remind you of from our government unit

                                                                                          Making Choices to Deal With Scarcity

                                                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                          decision over another

                                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                          school today or should I sleep in

                                                                                          Task Reflecting on Personal Trade-offshellip

                                                                                          In the end what helped you decide amongst your choices

                                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                          tradeoffs for that decision

                                                                                          Be prepared to share

                                                                                          Opportunity Cost

                                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                                          we want

                                                                                          What else influences your choices

                                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                          FinallyhellipWhy it Matters

                                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                          better decision-maker

                                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                          You always have to give something uphelliprdquo

                                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                          decisions

                                                                                          Visualizing the Relationshiphellip

                                                                                          Limited Resources amp Unlimited Wants

                                                                                          Scarcity

                                                                                          Trade-offs (choices)

                                                                                          Opportunity Costs

                                                                                          ObjectivesEssential Questions

                                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                                          the three different types of economies

                                                                                          bullEssential Question How do the different types of economies work

                                                                                          How Can We Measure What We Gain and Lose When

                                                                                          Making Choices

                                                                                          Answer With a Production Possibilities Frontier

                                                                                          Production Possibilities Frontier

                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                          PPF Assumptions

                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                          Production Possibilities Curve

                                                                                          CD

                                                                                          E

                                                                                          OU

                                                                                          TP

                                                                                          UT

                                                                                          OF

                                                                                          CO

                                                                                          NS

                                                                                          UM

                                                                                          ER

                                                                                          GO

                                                                                          OD

                                                                                          S

                                                                                          (un

                                                                                          its

                                                                                          per

                                                                                          yea

                                                                                          r)

                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                          A

                                                                                          BO

                                                                                          XF

                                                                                          G

                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                          The Choices Nations Make

                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                          bullProduce military goods or consumer goods

                                                                                          Economic Growth

                                                                                          2000 production possibilities

                                                                                          1900 production possibilities

                                                                                          OU

                                                                                          TP

                                                                                          UT

                                                                                          OF

                                                                                          CO

                                                                                          NS

                                                                                          UM

                                                                                          ER

                                                                                          GO

                                                                                          OD

                                                                                          S(u

                                                                                          nits

                                                                                          per

                                                                                          yea

                                                                                          r)

                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                          Production possibilities increases with more resources and technology

                                                                                          The Classic Guns and Butter example

                                                                                          Guns

                                                                                          Butter

                                                                                          10000 20000 30000 40000 50000

                                                                                          1000009500085000

                                                                                          70000

                                                                                          5000040000

                                                                                          BA

                                                                                          C

                                                                                          D

                                                                                          E

                                                                                          F

                                                                                          At point A all resources are used for butter

                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                          At point F all resources are used for Guns

                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                          choices are

                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                          Locations on a PPF

                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                          Food

                                                                                          Computer

                                                                                          4

                                                                                          3

                                                                                          2

                                                                                          1

                                                                                          1 2 3 4

                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                          Unit

                                                                                          Constantly giving up the same quantity of food to get

                                                                                          additional computers

                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                          Principle of Increasing Costs

                                                                                          As a society produces more of one product the OC of producing

                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                          Economic Systems

                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                          Jigsaw activity

                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                          Economic amp Social Goals of an Economic System

                                                                                          bull Economic Freedom

                                                                                          bull Economic Efficiency

                                                                                          bull Economic Equity

                                                                                          bull Economic Security

                                                                                          Economic Stability

                                                                                          Economic Growth

                                                                                          Review of Economic Systems

                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                          What are the most important goals of each economic system

                                                                                          bullTraditionalSecurity and

                                                                                          StabilitybullCommand

                                                                                          Equity and Security

                                                                                          bullMARKETEfficiency and

                                                                                          Freedom

                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                          at the expense of another (TRADEOFFS)

                                                                                          Which economic system does the US use

                                                                                          The American Economic System

                                                                                          bullWe have a mixed market economy

                                                                                          COMMAND MARKET

                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                          Think backhellip

                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                          2 Limited government

                                                                                          3 Equal opportunity

                                                                                          4 Competition

                                                                                          5 Profit motive

                                                                                          6 Property Rights

                                                                                          7 Binding Contracts

                                                                                          Understanding how all parts fit together

                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                          Shows interdependence between

                                                                                          businesses and individuals

                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                          Do you remember

                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                          democracy and mixed economy

                                                                                          • Foundations of Government and Economics
                                                                                          • On your blank piece of paperhellip
                                                                                          • Slide 3
                                                                                          • Warm-Up 1 - 9414
                                                                                          • Introductory thoughts hellip
                                                                                          • Slide 6
                                                                                          • 2 How about to your life
                                                                                          • Slide 8
                                                                                          • Slide 9
                                                                                          • Slide 10
                                                                                          • Slide 11
                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                          • Warm up 2bndash In Journal-
                                                                                          • Economist and Politician Assumptions
                                                                                          • Individualism
                                                                                          • Quote activity
                                                                                          • Quote breakdown
                                                                                          • Warm Up 3- Current Event 9814
                                                                                          • Purpose of Government
                                                                                          • Slide 20
                                                                                          • 3 Theorists
                                                                                          • Activity
                                                                                          • Origins of American Government A customized government
                                                                                          • Origins of American Government A customized government (2)
                                                                                          • Origins of American Government A customized government (3)
                                                                                          • With which theory do you agree more Why
                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                          • Groups Block 2
                                                                                          • Groups Block 4
                                                                                          • Balloon Game
                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                          • Balloon Game Debriefing
                                                                                          • Political Theories
                                                                                          • Social Contract
                                                                                          • Natural Rights
                                                                                          • Democracy
                                                                                          • Concepts of Government
                                                                                          • Warm up 6 ndash 91114
                                                                                          • Warm Up 7
                                                                                          • And after the Constitution
                                                                                          • Activity (2)
                                                                                          • Picture Activity
                                                                                          • Constitutional Convention
                                                                                          • Purpose of the Convention
                                                                                          • VA Plan v NJ Plan
                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                          • Your Task
                                                                                          • Closure
                                                                                          • States agree
                                                                                          • Quote
                                                                                          • Structure of Constitution
                                                                                          • Structure of Constitution
                                                                                          • 6 Purpose of Government
                                                                                          • Structure of Constitution (2)
                                                                                          • Structure of Constitution (3)
                                                                                          • Principles of Constitution
                                                                                          • Activity
                                                                                          • Slide 60
                                                                                          • Check for Understanding Six Principles
                                                                                          • Question 1
                                                                                          • Question 2
                                                                                          • Question 3
                                                                                          • Question 4
                                                                                          • Question 5
                                                                                          • Question 6
                                                                                          • Question 7
                                                                                          • Question 8
                                                                                          • Groups
                                                                                          • Separation of Powers
                                                                                          • Video
                                                                                          • Checks and Balances
                                                                                          • Slide 74
                                                                                          • Checks and balances
                                                                                          • Basic Principles
                                                                                          • Self- Worth
                                                                                          • Equality
                                                                                          • Compromise
                                                                                          • Individual Freedom
                                                                                          • Write your ownhellip
                                                                                          • Slide 82
                                                                                          • TED Talk
                                                                                          • Closure
                                                                                          • What is Economics
                                                                                          • Economics ishellip
                                                                                          • Back to our assumptionshellip
                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                          • For the videohellip
                                                                                          • Slide 90
                                                                                          • Post Videohellip
                                                                                          • Advertisement
                                                                                          • Political Cartoon Analysis
                                                                                          • Factors of Production
                                                                                          • TASK
                                                                                          • The price ofhellip
                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                          • 1 What to produce
                                                                                          • 2 How to produce it
                                                                                          • 3 For whom to produce it
                                                                                          • Application Activity
                                                                                          • EQs
                                                                                          • Objectives amp Essential Questions
                                                                                          • Group Activity Budget Activity
                                                                                          • Slide 105
                                                                                          • How do we satisfy our economic wants
                                                                                          • How do we make goods amp services
                                                                                          • Economic Interdependence
                                                                                          • Slide 109
                                                                                          • Making Choices to Deal With Scarcity
                                                                                          • Exampleshellip
                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                          • Opportunity Cost
                                                                                          • What else influences your choices
                                                                                          • Finallyhellip Why it Matters
                                                                                          • Visualizing the Relationshiphellip
                                                                                          • ObjectivesEssential Questions
                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                          • Production Possibilities Frontier
                                                                                          • PPF Assumptions
                                                                                          • Slide 121
                                                                                          • Production Possibilities Curve
                                                                                          • The Choices Nations Make
                                                                                          • Economic Growth
                                                                                          • The Classic Guns and Butter example
                                                                                          • Productivity
                                                                                          • Locations on a PPF
                                                                                          • Slide 128
                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                          • Economic Systems
                                                                                          • Jigsaw activity
                                                                                          • Slide 132
                                                                                          • Economic amp Social Goals of an Economic System
                                                                                          • Review of Economic Systems
                                                                                          • Slide 135
                                                                                          • What are the most important goals of each economic system
                                                                                          • Which economic system does the US use
                                                                                          • The American Economic System
                                                                                          • The US mixed economy
                                                                                          • Slide 140
                                                                                          • Think backhellip
                                                                                          • US Economic System Characteristics
                                                                                          • Slide 143
                                                                                          • Understanding how all parts fit together
                                                                                          • Marriage Vows
                                                                                          • Do you remember
                                                                                          • Slide 147

                                                                                            Virginia Plan ldquoLarge State Planrdquo

                                                                                            bullStrong central govrsquotbullL Bicameral Congress

                                                                                            Representation based on population

                                                                                            bullE ldquoPresidentrdquo Chosen by Congress

                                                                                            bullJ 1+ supreme courts with lower courtsChosen by Congress

                                                                                            New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                                            Each state would have = representationExpand power to tax amp regulate trade

                                                                                            bullE Two-person presidencyChosen by Congress able to be removed

                                                                                            bullJ Single Supreme CourtChosen by Executive

                                                                                            Your Task

                                                                                            Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                                            them to choose your planUse catchy phrasesslogans and be sure to

                                                                                            include the historical features of your plan (VA or NJ)

                                                                                            At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                                            Closure

                                                                                            bullWhat do you think (or know) happens to these two plans

                                                                                            States agreebull States agree to (ratify) the Constitution

                                                                                            only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                            bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                            Quote

                                                                                            bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                            bullWhat words stick to you in this quote Why

                                                                                            Structure of Constitutionbull Provides basic

                                                                                            framework for US government

                                                                                            bull Outlines basic principles structure and processes

                                                                                            bull Three partsmdashPreambleArticlesAmendments

                                                                                            Structure of Constitution bull Preamble

                                                                                            Introduction to the Constitution Lists ideas that the government should stand for

                                                                                            and states purposes We the people of the United States in Order

                                                                                            to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                            6 Purpose of Government bull Form a More Perfect Union

                                                                                            bull Establish Justice bull Insure Domestic Tranquility

                                                                                            bull Provide for the Common Defense

                                                                                            bull Promote the General Welfare

                                                                                            bull Secure the Blessings of Liberty

                                                                                            For each phrase consider the followinghellip

                                                                                            1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                            2 Is this phrase important today

                                                                                            Structure of Constitution bullArticles

                                                                                            Main body of the Constitution Lay out basic structure of the national

                                                                                            governmentFurther broken down into sections and clauses

                                                                                            Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                            Clause oaths of office

                                                                                            Article VII Ratification

                                                                                            Structure of Constitution

                                                                                            bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                            Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                            bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                            Activity

                                                                                            Activity bull STEP 1 bull Fill in the graphic

                                                                                            organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                            bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                            Principle Explanation

                                                                                            Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                            Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                            Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                            Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                            Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                            Federalism Divides the power between the central government and the States

                                                                                            Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                            Question 1

                                                                                            bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                            Popular Sovereignty

                                                                                            Question 2

                                                                                            bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                            Limited Government

                                                                                            Question 3

                                                                                            bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                            Limited Government

                                                                                            Question 4

                                                                                            bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                            SEPARATION OF POWERS

                                                                                            Question 5

                                                                                            bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                            Checks and Balances

                                                                                            Question 6

                                                                                            bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                            CHECKS AND BALANCES

                                                                                            Question 7

                                                                                            bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                            JUDICIAL REVIEW

                                                                                            Question 8

                                                                                            bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                            Federalism

                                                                                            GroupsPopular

                                                                                            SovereigntySeparation of

                                                                                            PowersFederalism

                                                                                            bull bull bull

                                                                                            Judicial Review

                                                                                            Limited Government

                                                                                            Checks and Balances

                                                                                            bull bull bull

                                                                                            Separation of Powers

                                                                                            bull Legislative branchmdashmakes the laws

                                                                                            bull Executive branchmdashenforces the laws

                                                                                            bull Judicial branchmdashinterprets the law

                                                                                            Video

                                                                                            bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                            Checks and Balances

                                                                                            Checks and balances

                                                                                            bullIn what was do the branches check on one another

                                                                                            bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                            Basic Principles

                                                                                            bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                            Self- Worth

                                                                                            bull A recognition of the fundamental worth of every person

                                                                                            bull The democratic process reflects the collective set of individuals who make up society

                                                                                            Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                            bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                            bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                            Compromise

                                                                                            bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                            bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                            bullWhy is compromise important

                                                                                            Individual Freedombull Right of the

                                                                                            individual to be free as far as the freedom of all will allow

                                                                                            bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                            Write your ownhellipbull Now that you know what the foundations of

                                                                                            government arehellip Create your own Constitution (Or social contract)

                                                                                            What do you think is important to include What do you think could be taken out

                                                                                            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                            Preamble (brief introduction) Articles (what should it include based on what we

                                                                                            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                            change it)

                                                                                            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                            paper

                                                                                            TED Talk

                                                                                            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                            Closure

                                                                                            bullExplain two principles of the constitution and how are they connected

                                                                                            What is Economics

                                                                                            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                            Important Parts of Economicsndash

                                                                                            CHOICESSCARCITY

                                                                                            Economics ishellip

                                                                                            bullDependent upon assumptions

                                                                                            bullDependent upon simplification of reality

                                                                                            Back to our assumptionshellip

                                                                                            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                            bullAll sellers seek to maximize profits

                                                                                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                            For the videohellip

                                                                                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                            Post Videohellip

                                                                                            bullDefine the main idea of the video in 4-5 words

                                                                                            Advertisement

                                                                                            bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                            3 images that represent different economic ideas

                                                                                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                            1 slogan that represents why economics is an important course to take

                                                                                            Political Cartoon Analysis

                                                                                            Factors of Production bull LAND

                                                                                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                            soil minerals water and plants

                                                                                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                            into producing goodsservices

                                                                                            bull CAPITAL Includes tools machines buildings and

                                                                                            technologies

                                                                                            bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                            land labor and capital to produce goods and services

                                                                                            TASK

                                                                                            bullTask Why are entrepreneurs the driving force in our economy

                                                                                            bullAnswer in 2-3 sentences

                                                                                            The price ofhellip

                                                                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                            Economic efficiency is achieved when all available resources are being used

                                                                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                            1 What to produce

                                                                                            bullShould it be military or civilian goods

                                                                                            bullFood or clothingbullMedicine or movies

                                                                                            2 How to produce it

                                                                                            bullAutomated or manual labor

                                                                                            bullExpensive or cheap materials

                                                                                            bullDomestic or overseas labor

                                                                                            3 For whom to produce it

                                                                                            bullThe wealthy or the needybullThe sick or the healthy

                                                                                            Application Activity

                                                                                            bull In groups of 2-3 create your own country (name it please)

                                                                                            bull With your countryrsquos name explain the Population geography and general population

                                                                                            information (iehellipbull Choose 5 items for your country to produce and

                                                                                            answer the three societal questions for eachALSO explain why this material would help your

                                                                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                            withhellip Images representing what you produce and a

                                                                                            slogan for why your country is awesome

                                                                                            EQs

                                                                                            bullHow does scarcity impact decision making

                                                                                            Objectives amp Essential QuestionsbullObjectives

                                                                                            I will be able to create and reflect on a budget given new economics content

                                                                                            I will be able to understand scarcity and our mixed economy

                                                                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                            Group Activity Budget Activity

                                                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                            How do we satisfy our economic wants

                                                                                            bull We buy goods or services

                                                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                                                            How do we make goods amp services

                                                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                            Production Equation

                                                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                            inputs output

                                                                                            Economic Interdependence

                                                                                            bullWhat does lsquointerdependencersquo mean

                                                                                            bullIs our world becoming economic interdependent or independent

                                                                                            bullEconomic Interdependence the actions of one part of the

                                                                                            country (world) has an impact on what happens elsewhere

                                                                                            Wants amp Needs gt

                                                                                            Resources

                                                                                            Because of scarcity we

                                                                                            have to make choices

                                                                                            How do we make a choice What do we give up

                                                                                            What does this remind you of from our government unit

                                                                                            Making Choices to Deal With Scarcity

                                                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                            decision over another

                                                                                            ExampleshellipbullSome choices are easy to makehellip

                                                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                            school today or should I sleep in

                                                                                            Task Reflecting on Personal Trade-offshellip

                                                                                            In the end what helped you decide amongst your choices

                                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                            tradeoffs for that decision

                                                                                            Be prepared to share

                                                                                            Opportunity Cost

                                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                                            we want

                                                                                            What else influences your choices

                                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                            FinallyhellipWhy it Matters

                                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                            better decision-maker

                                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                            You always have to give something uphelliprdquo

                                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                            decisions

                                                                                            Visualizing the Relationshiphellip

                                                                                            Limited Resources amp Unlimited Wants

                                                                                            Scarcity

                                                                                            Trade-offs (choices)

                                                                                            Opportunity Costs

                                                                                            ObjectivesEssential Questions

                                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                                            the three different types of economies

                                                                                            bullEssential Question How do the different types of economies work

                                                                                            How Can We Measure What We Gain and Lose When

                                                                                            Making Choices

                                                                                            Answer With a Production Possibilities Frontier

                                                                                            Production Possibilities Frontier

                                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                            PPF Assumptions

                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                            Production Possibilities Curve

                                                                                            CD

                                                                                            E

                                                                                            OU

                                                                                            TP

                                                                                            UT

                                                                                            OF

                                                                                            CO

                                                                                            NS

                                                                                            UM

                                                                                            ER

                                                                                            GO

                                                                                            OD

                                                                                            S

                                                                                            (un

                                                                                            its

                                                                                            per

                                                                                            yea

                                                                                            r)

                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                            A

                                                                                            BO

                                                                                            XF

                                                                                            G

                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                            The Choices Nations Make

                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                            bullProduce military goods or consumer goods

                                                                                            Economic Growth

                                                                                            2000 production possibilities

                                                                                            1900 production possibilities

                                                                                            OU

                                                                                            TP

                                                                                            UT

                                                                                            OF

                                                                                            CO

                                                                                            NS

                                                                                            UM

                                                                                            ER

                                                                                            GO

                                                                                            OD

                                                                                            S(u

                                                                                            nits

                                                                                            per

                                                                                            yea

                                                                                            r)

                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                            Production possibilities increases with more resources and technology

                                                                                            The Classic Guns and Butter example

                                                                                            Guns

                                                                                            Butter

                                                                                            10000 20000 30000 40000 50000

                                                                                            1000009500085000

                                                                                            70000

                                                                                            5000040000

                                                                                            BA

                                                                                            C

                                                                                            D

                                                                                            E

                                                                                            F

                                                                                            At point A all resources are used for butter

                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                            At point F all resources are used for Guns

                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                            choices are

                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                            Locations on a PPF

                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                            Food

                                                                                            Computer

                                                                                            4

                                                                                            3

                                                                                            2

                                                                                            1

                                                                                            1 2 3 4

                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                            Unit

                                                                                            Constantly giving up the same quantity of food to get

                                                                                            additional computers

                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                            Principle of Increasing Costs

                                                                                            As a society produces more of one product the OC of producing

                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                            Economic Systems

                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                            Jigsaw activity

                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                            Economic amp Social Goals of an Economic System

                                                                                            bull Economic Freedom

                                                                                            bull Economic Efficiency

                                                                                            bull Economic Equity

                                                                                            bull Economic Security

                                                                                            Economic Stability

                                                                                            Economic Growth

                                                                                            Review of Economic Systems

                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                            What are the most important goals of each economic system

                                                                                            bullTraditionalSecurity and

                                                                                            StabilitybullCommand

                                                                                            Equity and Security

                                                                                            bullMARKETEfficiency and

                                                                                            Freedom

                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                            at the expense of another (TRADEOFFS)

                                                                                            Which economic system does the US use

                                                                                            The American Economic System

                                                                                            bullWe have a mixed market economy

                                                                                            COMMAND MARKET

                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                            Think backhellip

                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                            2 Limited government

                                                                                            3 Equal opportunity

                                                                                            4 Competition

                                                                                            5 Profit motive

                                                                                            6 Property Rights

                                                                                            7 Binding Contracts

                                                                                            Understanding how all parts fit together

                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                            Shows interdependence between

                                                                                            businesses and individuals

                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                            Do you remember

                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                            democracy and mixed economy

                                                                                            • Foundations of Government and Economics
                                                                                            • On your blank piece of paperhellip
                                                                                            • Slide 3
                                                                                            • Warm-Up 1 - 9414
                                                                                            • Introductory thoughts hellip
                                                                                            • Slide 6
                                                                                            • 2 How about to your life
                                                                                            • Slide 8
                                                                                            • Slide 9
                                                                                            • Slide 10
                                                                                            • Slide 11
                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                            • Warm up 2bndash In Journal-
                                                                                            • Economist and Politician Assumptions
                                                                                            • Individualism
                                                                                            • Quote activity
                                                                                            • Quote breakdown
                                                                                            • Warm Up 3- Current Event 9814
                                                                                            • Purpose of Government
                                                                                            • Slide 20
                                                                                            • 3 Theorists
                                                                                            • Activity
                                                                                            • Origins of American Government A customized government
                                                                                            • Origins of American Government A customized government (2)
                                                                                            • Origins of American Government A customized government (3)
                                                                                            • With which theory do you agree more Why
                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                            • Groups Block 2
                                                                                            • Groups Block 4
                                                                                            • Balloon Game
                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                            • Balloon Game Debriefing
                                                                                            • Political Theories
                                                                                            • Social Contract
                                                                                            • Natural Rights
                                                                                            • Democracy
                                                                                            • Concepts of Government
                                                                                            • Warm up 6 ndash 91114
                                                                                            • Warm Up 7
                                                                                            • And after the Constitution
                                                                                            • Activity (2)
                                                                                            • Picture Activity
                                                                                            • Constitutional Convention
                                                                                            • Purpose of the Convention
                                                                                            • VA Plan v NJ Plan
                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                            • Your Task
                                                                                            • Closure
                                                                                            • States agree
                                                                                            • Quote
                                                                                            • Structure of Constitution
                                                                                            • Structure of Constitution
                                                                                            • 6 Purpose of Government
                                                                                            • Structure of Constitution (2)
                                                                                            • Structure of Constitution (3)
                                                                                            • Principles of Constitution
                                                                                            • Activity
                                                                                            • Slide 60
                                                                                            • Check for Understanding Six Principles
                                                                                            • Question 1
                                                                                            • Question 2
                                                                                            • Question 3
                                                                                            • Question 4
                                                                                            • Question 5
                                                                                            • Question 6
                                                                                            • Question 7
                                                                                            • Question 8
                                                                                            • Groups
                                                                                            • Separation of Powers
                                                                                            • Video
                                                                                            • Checks and Balances
                                                                                            • Slide 74
                                                                                            • Checks and balances
                                                                                            • Basic Principles
                                                                                            • Self- Worth
                                                                                            • Equality
                                                                                            • Compromise
                                                                                            • Individual Freedom
                                                                                            • Write your ownhellip
                                                                                            • Slide 82
                                                                                            • TED Talk
                                                                                            • Closure
                                                                                            • What is Economics
                                                                                            • Economics ishellip
                                                                                            • Back to our assumptionshellip
                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                            • For the videohellip
                                                                                            • Slide 90
                                                                                            • Post Videohellip
                                                                                            • Advertisement
                                                                                            • Political Cartoon Analysis
                                                                                            • Factors of Production
                                                                                            • TASK
                                                                                            • The price ofhellip
                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                            • 1 What to produce
                                                                                            • 2 How to produce it
                                                                                            • 3 For whom to produce it
                                                                                            • Application Activity
                                                                                            • EQs
                                                                                            • Objectives amp Essential Questions
                                                                                            • Group Activity Budget Activity
                                                                                            • Slide 105
                                                                                            • How do we satisfy our economic wants
                                                                                            • How do we make goods amp services
                                                                                            • Economic Interdependence
                                                                                            • Slide 109
                                                                                            • Making Choices to Deal With Scarcity
                                                                                            • Exampleshellip
                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                            • Opportunity Cost
                                                                                            • What else influences your choices
                                                                                            • Finallyhellip Why it Matters
                                                                                            • Visualizing the Relationshiphellip
                                                                                            • ObjectivesEssential Questions
                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                            • Production Possibilities Frontier
                                                                                            • PPF Assumptions
                                                                                            • Slide 121
                                                                                            • Production Possibilities Curve
                                                                                            • The Choices Nations Make
                                                                                            • Economic Growth
                                                                                            • The Classic Guns and Butter example
                                                                                            • Productivity
                                                                                            • Locations on a PPF
                                                                                            • Slide 128
                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                            • Economic Systems
                                                                                            • Jigsaw activity
                                                                                            • Slide 132
                                                                                            • Economic amp Social Goals of an Economic System
                                                                                            • Review of Economic Systems
                                                                                            • Slide 135
                                                                                            • What are the most important goals of each economic system
                                                                                            • Which economic system does the US use
                                                                                            • The American Economic System
                                                                                            • The US mixed economy
                                                                                            • Slide 140
                                                                                            • Think backhellip
                                                                                            • US Economic System Characteristics
                                                                                            • Slide 143
                                                                                            • Understanding how all parts fit together
                                                                                            • Marriage Vows
                                                                                            • Do you remember
                                                                                            • Slide 147

                                                                                              New Jersey PlanldquoSmall State PlanrdquobullStrong state governmentbullL Unicameral Congress

                                                                                              Each state would have = representationExpand power to tax amp regulate trade

                                                                                              bullE Two-person presidencyChosen by Congress able to be removed

                                                                                              bullJ Single Supreme CourtChosen by Executive

                                                                                              Your Task

                                                                                              Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                                              them to choose your planUse catchy phrasesslogans and be sure to

                                                                                              include the historical features of your plan (VA or NJ)

                                                                                              At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                                              Closure

                                                                                              bullWhat do you think (or know) happens to these two plans

                                                                                              States agreebull States agree to (ratify) the Constitution

                                                                                              only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                              bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                              Quote

                                                                                              bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                              bullWhat words stick to you in this quote Why

                                                                                              Structure of Constitutionbull Provides basic

                                                                                              framework for US government

                                                                                              bull Outlines basic principles structure and processes

                                                                                              bull Three partsmdashPreambleArticlesAmendments

                                                                                              Structure of Constitution bull Preamble

                                                                                              Introduction to the Constitution Lists ideas that the government should stand for

                                                                                              and states purposes We the people of the United States in Order

                                                                                              to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                              6 Purpose of Government bull Form a More Perfect Union

                                                                                              bull Establish Justice bull Insure Domestic Tranquility

                                                                                              bull Provide for the Common Defense

                                                                                              bull Promote the General Welfare

                                                                                              bull Secure the Blessings of Liberty

                                                                                              For each phrase consider the followinghellip

                                                                                              1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                              2 Is this phrase important today

                                                                                              Structure of Constitution bullArticles

                                                                                              Main body of the Constitution Lay out basic structure of the national

                                                                                              governmentFurther broken down into sections and clauses

                                                                                              Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                              Clause oaths of office

                                                                                              Article VII Ratification

                                                                                              Structure of Constitution

                                                                                              bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                              Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                              bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                              Activity

                                                                                              Activity bull STEP 1 bull Fill in the graphic

                                                                                              organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                              bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                              Principle Explanation

                                                                                              Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                              Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                              Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                              Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                              Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                              Federalism Divides the power between the central government and the States

                                                                                              Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                              Question 1

                                                                                              bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                              Popular Sovereignty

                                                                                              Question 2

                                                                                              bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                              Limited Government

                                                                                              Question 3

                                                                                              bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                              Limited Government

                                                                                              Question 4

                                                                                              bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                              SEPARATION OF POWERS

                                                                                              Question 5

                                                                                              bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                              Checks and Balances

                                                                                              Question 6

                                                                                              bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                              CHECKS AND BALANCES

                                                                                              Question 7

                                                                                              bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                              JUDICIAL REVIEW

                                                                                              Question 8

                                                                                              bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                              Federalism

                                                                                              GroupsPopular

                                                                                              SovereigntySeparation of

                                                                                              PowersFederalism

                                                                                              bull bull bull

                                                                                              Judicial Review

                                                                                              Limited Government

                                                                                              Checks and Balances

                                                                                              bull bull bull

                                                                                              Separation of Powers

                                                                                              bull Legislative branchmdashmakes the laws

                                                                                              bull Executive branchmdashenforces the laws

                                                                                              bull Judicial branchmdashinterprets the law

                                                                                              Video

                                                                                              bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                              Checks and Balances

                                                                                              Checks and balances

                                                                                              bullIn what was do the branches check on one another

                                                                                              bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                              Basic Principles

                                                                                              bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                              Self- Worth

                                                                                              bull A recognition of the fundamental worth of every person

                                                                                              bull The democratic process reflects the collective set of individuals who make up society

                                                                                              Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                              bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                              bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                              Compromise

                                                                                              bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                              bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                              bullWhy is compromise important

                                                                                              Individual Freedombull Right of the

                                                                                              individual to be free as far as the freedom of all will allow

                                                                                              bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                              Write your ownhellipbull Now that you know what the foundations of

                                                                                              government arehellip Create your own Constitution (Or social contract)

                                                                                              What do you think is important to include What do you think could be taken out

                                                                                              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                              Preamble (brief introduction) Articles (what should it include based on what we

                                                                                              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                              change it)

                                                                                              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                              paper

                                                                                              TED Talk

                                                                                              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                              Closure

                                                                                              bullExplain two principles of the constitution and how are they connected

                                                                                              What is Economics

                                                                                              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                              Important Parts of Economicsndash

                                                                                              CHOICESSCARCITY

                                                                                              Economics ishellip

                                                                                              bullDependent upon assumptions

                                                                                              bullDependent upon simplification of reality

                                                                                              Back to our assumptionshellip

                                                                                              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                              bullAll sellers seek to maximize profits

                                                                                              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                              For the videohellip

                                                                                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                              Post Videohellip

                                                                                              bullDefine the main idea of the video in 4-5 words

                                                                                              Advertisement

                                                                                              bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                              3 images that represent different economic ideas

                                                                                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                              1 slogan that represents why economics is an important course to take

                                                                                              Political Cartoon Analysis

                                                                                              Factors of Production bull LAND

                                                                                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                              soil minerals water and plants

                                                                                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                              into producing goodsservices

                                                                                              bull CAPITAL Includes tools machines buildings and

                                                                                              technologies

                                                                                              bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                              land labor and capital to produce goods and services

                                                                                              TASK

                                                                                              bullTask Why are entrepreneurs the driving force in our economy

                                                                                              bullAnswer in 2-3 sentences

                                                                                              The price ofhellip

                                                                                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                              Economic efficiency is achieved when all available resources are being used

                                                                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                              1 What to produce

                                                                                              bullShould it be military or civilian goods

                                                                                              bullFood or clothingbullMedicine or movies

                                                                                              2 How to produce it

                                                                                              bullAutomated or manual labor

                                                                                              bullExpensive or cheap materials

                                                                                              bullDomestic or overseas labor

                                                                                              3 For whom to produce it

                                                                                              bullThe wealthy or the needybullThe sick or the healthy

                                                                                              Application Activity

                                                                                              bull In groups of 2-3 create your own country (name it please)

                                                                                              bull With your countryrsquos name explain the Population geography and general population

                                                                                              information (iehellipbull Choose 5 items for your country to produce and

                                                                                              answer the three societal questions for eachALSO explain why this material would help your

                                                                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                              withhellip Images representing what you produce and a

                                                                                              slogan for why your country is awesome

                                                                                              EQs

                                                                                              bullHow does scarcity impact decision making

                                                                                              Objectives amp Essential QuestionsbullObjectives

                                                                                              I will be able to create and reflect on a budget given new economics content

                                                                                              I will be able to understand scarcity and our mixed economy

                                                                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                              Group Activity Budget Activity

                                                                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                              How do we satisfy our economic wants

                                                                                              bull We buy goods or services

                                                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                                                              How do we make goods amp services

                                                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                              Production Equation

                                                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                              inputs output

                                                                                              Economic Interdependence

                                                                                              bullWhat does lsquointerdependencersquo mean

                                                                                              bullIs our world becoming economic interdependent or independent

                                                                                              bullEconomic Interdependence the actions of one part of the

                                                                                              country (world) has an impact on what happens elsewhere

                                                                                              Wants amp Needs gt

                                                                                              Resources

                                                                                              Because of scarcity we

                                                                                              have to make choices

                                                                                              How do we make a choice What do we give up

                                                                                              What does this remind you of from our government unit

                                                                                              Making Choices to Deal With Scarcity

                                                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                              decision over another

                                                                                              ExampleshellipbullSome choices are easy to makehellip

                                                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                              school today or should I sleep in

                                                                                              Task Reflecting on Personal Trade-offshellip

                                                                                              In the end what helped you decide amongst your choices

                                                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                              tradeoffs for that decision

                                                                                              Be prepared to share

                                                                                              Opportunity Cost

                                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                                              we want

                                                                                              What else influences your choices

                                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                              FinallyhellipWhy it Matters

                                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                              better decision-maker

                                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                              You always have to give something uphelliprdquo

                                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                              decisions

                                                                                              Visualizing the Relationshiphellip

                                                                                              Limited Resources amp Unlimited Wants

                                                                                              Scarcity

                                                                                              Trade-offs (choices)

                                                                                              Opportunity Costs

                                                                                              ObjectivesEssential Questions

                                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                                              the three different types of economies

                                                                                              bullEssential Question How do the different types of economies work

                                                                                              How Can We Measure What We Gain and Lose When

                                                                                              Making Choices

                                                                                              Answer With a Production Possibilities Frontier

                                                                                              Production Possibilities Frontier

                                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                              PPF Assumptions

                                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                              Production Possibilities Curve

                                                                                              CD

                                                                                              E

                                                                                              OU

                                                                                              TP

                                                                                              UT

                                                                                              OF

                                                                                              CO

                                                                                              NS

                                                                                              UM

                                                                                              ER

                                                                                              GO

                                                                                              OD

                                                                                              S

                                                                                              (un

                                                                                              its

                                                                                              per

                                                                                              yea

                                                                                              r)

                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                              A

                                                                                              BO

                                                                                              XF

                                                                                              G

                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                              The Choices Nations Make

                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                              bullProduce military goods or consumer goods

                                                                                              Economic Growth

                                                                                              2000 production possibilities

                                                                                              1900 production possibilities

                                                                                              OU

                                                                                              TP

                                                                                              UT

                                                                                              OF

                                                                                              CO

                                                                                              NS

                                                                                              UM

                                                                                              ER

                                                                                              GO

                                                                                              OD

                                                                                              S(u

                                                                                              nits

                                                                                              per

                                                                                              yea

                                                                                              r)

                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                              Production possibilities increases with more resources and technology

                                                                                              The Classic Guns and Butter example

                                                                                              Guns

                                                                                              Butter

                                                                                              10000 20000 30000 40000 50000

                                                                                              1000009500085000

                                                                                              70000

                                                                                              5000040000

                                                                                              BA

                                                                                              C

                                                                                              D

                                                                                              E

                                                                                              F

                                                                                              At point A all resources are used for butter

                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                              At point F all resources are used for Guns

                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                              choices are

                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                              Locations on a PPF

                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                              Food

                                                                                              Computer

                                                                                              4

                                                                                              3

                                                                                              2

                                                                                              1

                                                                                              1 2 3 4

                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                              Unit

                                                                                              Constantly giving up the same quantity of food to get

                                                                                              additional computers

                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                              Principle of Increasing Costs

                                                                                              As a society produces more of one product the OC of producing

                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                              Economic Systems

                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                              Jigsaw activity

                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                              Economic amp Social Goals of an Economic System

                                                                                              bull Economic Freedom

                                                                                              bull Economic Efficiency

                                                                                              bull Economic Equity

                                                                                              bull Economic Security

                                                                                              Economic Stability

                                                                                              Economic Growth

                                                                                              Review of Economic Systems

                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                              What are the most important goals of each economic system

                                                                                              bullTraditionalSecurity and

                                                                                              StabilitybullCommand

                                                                                              Equity and Security

                                                                                              bullMARKETEfficiency and

                                                                                              Freedom

                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                              at the expense of another (TRADEOFFS)

                                                                                              Which economic system does the US use

                                                                                              The American Economic System

                                                                                              bullWe have a mixed market economy

                                                                                              COMMAND MARKET

                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                              Think backhellip

                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                              2 Limited government

                                                                                              3 Equal opportunity

                                                                                              4 Competition

                                                                                              5 Profit motive

                                                                                              6 Property Rights

                                                                                              7 Binding Contracts

                                                                                              Understanding how all parts fit together

                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                              Shows interdependence between

                                                                                              businesses and individuals

                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                              Do you remember

                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                              democracy and mixed economy

                                                                                              • Foundations of Government and Economics
                                                                                              • On your blank piece of paperhellip
                                                                                              • Slide 3
                                                                                              • Warm-Up 1 - 9414
                                                                                              • Introductory thoughts hellip
                                                                                              • Slide 6
                                                                                              • 2 How about to your life
                                                                                              • Slide 8
                                                                                              • Slide 9
                                                                                              • Slide 10
                                                                                              • Slide 11
                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                              • Warm up 2bndash In Journal-
                                                                                              • Economist and Politician Assumptions
                                                                                              • Individualism
                                                                                              • Quote activity
                                                                                              • Quote breakdown
                                                                                              • Warm Up 3- Current Event 9814
                                                                                              • Purpose of Government
                                                                                              • Slide 20
                                                                                              • 3 Theorists
                                                                                              • Activity
                                                                                              • Origins of American Government A customized government
                                                                                              • Origins of American Government A customized government (2)
                                                                                              • Origins of American Government A customized government (3)
                                                                                              • With which theory do you agree more Why
                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                              • Groups Block 2
                                                                                              • Groups Block 4
                                                                                              • Balloon Game
                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                              • Balloon Game Debriefing
                                                                                              • Political Theories
                                                                                              • Social Contract
                                                                                              • Natural Rights
                                                                                              • Democracy
                                                                                              • Concepts of Government
                                                                                              • Warm up 6 ndash 91114
                                                                                              • Warm Up 7
                                                                                              • And after the Constitution
                                                                                              • Activity (2)
                                                                                              • Picture Activity
                                                                                              • Constitutional Convention
                                                                                              • Purpose of the Convention
                                                                                              • VA Plan v NJ Plan
                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                              • Your Task
                                                                                              • Closure
                                                                                              • States agree
                                                                                              • Quote
                                                                                              • Structure of Constitution
                                                                                              • Structure of Constitution
                                                                                              • 6 Purpose of Government
                                                                                              • Structure of Constitution (2)
                                                                                              • Structure of Constitution (3)
                                                                                              • Principles of Constitution
                                                                                              • Activity
                                                                                              • Slide 60
                                                                                              • Check for Understanding Six Principles
                                                                                              • Question 1
                                                                                              • Question 2
                                                                                              • Question 3
                                                                                              • Question 4
                                                                                              • Question 5
                                                                                              • Question 6
                                                                                              • Question 7
                                                                                              • Question 8
                                                                                              • Groups
                                                                                              • Separation of Powers
                                                                                              • Video
                                                                                              • Checks and Balances
                                                                                              • Slide 74
                                                                                              • Checks and balances
                                                                                              • Basic Principles
                                                                                              • Self- Worth
                                                                                              • Equality
                                                                                              • Compromise
                                                                                              • Individual Freedom
                                                                                              • Write your ownhellip
                                                                                              • Slide 82
                                                                                              • TED Talk
                                                                                              • Closure
                                                                                              • What is Economics
                                                                                              • Economics ishellip
                                                                                              • Back to our assumptionshellip
                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                              • For the videohellip
                                                                                              • Slide 90
                                                                                              • Post Videohellip
                                                                                              • Advertisement
                                                                                              • Political Cartoon Analysis
                                                                                              • Factors of Production
                                                                                              • TASK
                                                                                              • The price ofhellip
                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                              • 1 What to produce
                                                                                              • 2 How to produce it
                                                                                              • 3 For whom to produce it
                                                                                              • Application Activity
                                                                                              • EQs
                                                                                              • Objectives amp Essential Questions
                                                                                              • Group Activity Budget Activity
                                                                                              • Slide 105
                                                                                              • How do we satisfy our economic wants
                                                                                              • How do we make goods amp services
                                                                                              • Economic Interdependence
                                                                                              • Slide 109
                                                                                              • Making Choices to Deal With Scarcity
                                                                                              • Exampleshellip
                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                              • Opportunity Cost
                                                                                              • What else influences your choices
                                                                                              • Finallyhellip Why it Matters
                                                                                              • Visualizing the Relationshiphellip
                                                                                              • ObjectivesEssential Questions
                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                              • Production Possibilities Frontier
                                                                                              • PPF Assumptions
                                                                                              • Slide 121
                                                                                              • Production Possibilities Curve
                                                                                              • The Choices Nations Make
                                                                                              • Economic Growth
                                                                                              • The Classic Guns and Butter example
                                                                                              • Productivity
                                                                                              • Locations on a PPF
                                                                                              • Slide 128
                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                              • Economic Systems
                                                                                              • Jigsaw activity
                                                                                              • Slide 132
                                                                                              • Economic amp Social Goals of an Economic System
                                                                                              • Review of Economic Systems
                                                                                              • Slide 135
                                                                                              • What are the most important goals of each economic system
                                                                                              • Which economic system does the US use
                                                                                              • The American Economic System
                                                                                              • The US mixed economy
                                                                                              • Slide 140
                                                                                              • Think backhellip
                                                                                              • US Economic System Characteristics
                                                                                              • Slide 143
                                                                                              • Understanding how all parts fit together
                                                                                              • Marriage Vows
                                                                                              • Do you remember
                                                                                              • Slide 147

                                                                                                Your Task

                                                                                                Create a billboard advertisement detailing thefeatures of one of the plans ndash NJ or VA - the choice is yoursbullGoal ldquosellrdquo your plan to the people ndash persuade

                                                                                                them to choose your planUse catchy phrasesslogans and be sure to

                                                                                                include the historical features of your plan (VA or NJ)

                                                                                                At the end of this project we will vote on the most persuasive and appealing billboard ndash this group will receive extra credit on the Unit Assessment

                                                                                                Closure

                                                                                                bullWhat do you think (or know) happens to these two plans

                                                                                                States agreebull States agree to (ratify) the Constitution

                                                                                                only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                                bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                                Quote

                                                                                                bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                                bullWhat words stick to you in this quote Why

                                                                                                Structure of Constitutionbull Provides basic

                                                                                                framework for US government

                                                                                                bull Outlines basic principles structure and processes

                                                                                                bull Three partsmdashPreambleArticlesAmendments

                                                                                                Structure of Constitution bull Preamble

                                                                                                Introduction to the Constitution Lists ideas that the government should stand for

                                                                                                and states purposes We the people of the United States in Order

                                                                                                to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                                6 Purpose of Government bull Form a More Perfect Union

                                                                                                bull Establish Justice bull Insure Domestic Tranquility

                                                                                                bull Provide for the Common Defense

                                                                                                bull Promote the General Welfare

                                                                                                bull Secure the Blessings of Liberty

                                                                                                For each phrase consider the followinghellip

                                                                                                1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                                2 Is this phrase important today

                                                                                                Structure of Constitution bullArticles

                                                                                                Main body of the Constitution Lay out basic structure of the national

                                                                                                governmentFurther broken down into sections and clauses

                                                                                                Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                                Clause oaths of office

                                                                                                Article VII Ratification

                                                                                                Structure of Constitution

                                                                                                bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                                Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                Activity

                                                                                                Activity bull STEP 1 bull Fill in the graphic

                                                                                                organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                Principle Explanation

                                                                                                Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                Federalism Divides the power between the central government and the States

                                                                                                Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                Question 1

                                                                                                bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                Popular Sovereignty

                                                                                                Question 2

                                                                                                bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                Limited Government

                                                                                                Question 3

                                                                                                bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                Limited Government

                                                                                                Question 4

                                                                                                bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                SEPARATION OF POWERS

                                                                                                Question 5

                                                                                                bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                Checks and Balances

                                                                                                Question 6

                                                                                                bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                CHECKS AND BALANCES

                                                                                                Question 7

                                                                                                bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                JUDICIAL REVIEW

                                                                                                Question 8

                                                                                                bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                Federalism

                                                                                                GroupsPopular

                                                                                                SovereigntySeparation of

                                                                                                PowersFederalism

                                                                                                bull bull bull

                                                                                                Judicial Review

                                                                                                Limited Government

                                                                                                Checks and Balances

                                                                                                bull bull bull

                                                                                                Separation of Powers

                                                                                                bull Legislative branchmdashmakes the laws

                                                                                                bull Executive branchmdashenforces the laws

                                                                                                bull Judicial branchmdashinterprets the law

                                                                                                Video

                                                                                                bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                Checks and Balances

                                                                                                Checks and balances

                                                                                                bullIn what was do the branches check on one another

                                                                                                bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                Basic Principles

                                                                                                bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                Self- Worth

                                                                                                bull A recognition of the fundamental worth of every person

                                                                                                bull The democratic process reflects the collective set of individuals who make up society

                                                                                                Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                Compromise

                                                                                                bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                bullWhy is compromise important

                                                                                                Individual Freedombull Right of the

                                                                                                individual to be free as far as the freedom of all will allow

                                                                                                bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                Write your ownhellipbull Now that you know what the foundations of

                                                                                                government arehellip Create your own Constitution (Or social contract)

                                                                                                What do you think is important to include What do you think could be taken out

                                                                                                Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                change it)

                                                                                                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                paper

                                                                                                TED Talk

                                                                                                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                Closure

                                                                                                bullExplain two principles of the constitution and how are they connected

                                                                                                What is Economics

                                                                                                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                Important Parts of Economicsndash

                                                                                                CHOICESSCARCITY

                                                                                                Economics ishellip

                                                                                                bullDependent upon assumptions

                                                                                                bullDependent upon simplification of reality

                                                                                                Back to our assumptionshellip

                                                                                                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                bullAll sellers seek to maximize profits

                                                                                                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                For the videohellip

                                                                                                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                Post Videohellip

                                                                                                bullDefine the main idea of the video in 4-5 words

                                                                                                Advertisement

                                                                                                bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                3 images that represent different economic ideas

                                                                                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                1 slogan that represents why economics is an important course to take

                                                                                                Political Cartoon Analysis

                                                                                                Factors of Production bull LAND

                                                                                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                soil minerals water and plants

                                                                                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                into producing goodsservices

                                                                                                bull CAPITAL Includes tools machines buildings and

                                                                                                technologies

                                                                                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                land labor and capital to produce goods and services

                                                                                                TASK

                                                                                                bullTask Why are entrepreneurs the driving force in our economy

                                                                                                bullAnswer in 2-3 sentences

                                                                                                The price ofhellip

                                                                                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                Economic efficiency is achieved when all available resources are being used

                                                                                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                1 What to produce

                                                                                                bullShould it be military or civilian goods

                                                                                                bullFood or clothingbullMedicine or movies

                                                                                                2 How to produce it

                                                                                                bullAutomated or manual labor

                                                                                                bullExpensive or cheap materials

                                                                                                bullDomestic or overseas labor

                                                                                                3 For whom to produce it

                                                                                                bullThe wealthy or the needybullThe sick or the healthy

                                                                                                Application Activity

                                                                                                bull In groups of 2-3 create your own country (name it please)

                                                                                                bull With your countryrsquos name explain the Population geography and general population

                                                                                                information (iehellipbull Choose 5 items for your country to produce and

                                                                                                answer the three societal questions for eachALSO explain why this material would help your

                                                                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                withhellip Images representing what you produce and a

                                                                                                slogan for why your country is awesome

                                                                                                EQs

                                                                                                bullHow does scarcity impact decision making

                                                                                                Objectives amp Essential QuestionsbullObjectives

                                                                                                I will be able to create and reflect on a budget given new economics content

                                                                                                I will be able to understand scarcity and our mixed economy

                                                                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                Group Activity Budget Activity

                                                                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                How do we satisfy our economic wants

                                                                                                bull We buy goods or services

                                                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                How do we make goods amp services

                                                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                Production Equation

                                                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                inputs output

                                                                                                Economic Interdependence

                                                                                                bullWhat does lsquointerdependencersquo mean

                                                                                                bullIs our world becoming economic interdependent or independent

                                                                                                bullEconomic Interdependence the actions of one part of the

                                                                                                country (world) has an impact on what happens elsewhere

                                                                                                Wants amp Needs gt

                                                                                                Resources

                                                                                                Because of scarcity we

                                                                                                have to make choices

                                                                                                How do we make a choice What do we give up

                                                                                                What does this remind you of from our government unit

                                                                                                Making Choices to Deal With Scarcity

                                                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                decision over another

                                                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                school today or should I sleep in

                                                                                                Task Reflecting on Personal Trade-offshellip

                                                                                                In the end what helped you decide amongst your choices

                                                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                tradeoffs for that decision

                                                                                                Be prepared to share

                                                                                                Opportunity Cost

                                                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                                                we want

                                                                                                What else influences your choices

                                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                FinallyhellipWhy it Matters

                                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                better decision-maker

                                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                You always have to give something uphelliprdquo

                                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                decisions

                                                                                                Visualizing the Relationshiphellip

                                                                                                Limited Resources amp Unlimited Wants

                                                                                                Scarcity

                                                                                                Trade-offs (choices)

                                                                                                Opportunity Costs

                                                                                                ObjectivesEssential Questions

                                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                                the three different types of economies

                                                                                                bullEssential Question How do the different types of economies work

                                                                                                How Can We Measure What We Gain and Lose When

                                                                                                Making Choices

                                                                                                Answer With a Production Possibilities Frontier

                                                                                                Production Possibilities Frontier

                                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                PPF Assumptions

                                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                Production Possibilities Curve

                                                                                                CD

                                                                                                E

                                                                                                OU

                                                                                                TP

                                                                                                UT

                                                                                                OF

                                                                                                CO

                                                                                                NS

                                                                                                UM

                                                                                                ER

                                                                                                GO

                                                                                                OD

                                                                                                S

                                                                                                (un

                                                                                                its

                                                                                                per

                                                                                                yea

                                                                                                r)

                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                A

                                                                                                BO

                                                                                                XF

                                                                                                G

                                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                                The Choices Nations Make

                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                bullProduce military goods or consumer goods

                                                                                                Economic Growth

                                                                                                2000 production possibilities

                                                                                                1900 production possibilities

                                                                                                OU

                                                                                                TP

                                                                                                UT

                                                                                                OF

                                                                                                CO

                                                                                                NS

                                                                                                UM

                                                                                                ER

                                                                                                GO

                                                                                                OD

                                                                                                S(u

                                                                                                nits

                                                                                                per

                                                                                                yea

                                                                                                r)

                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                Production possibilities increases with more resources and technology

                                                                                                The Classic Guns and Butter example

                                                                                                Guns

                                                                                                Butter

                                                                                                10000 20000 30000 40000 50000

                                                                                                1000009500085000

                                                                                                70000

                                                                                                5000040000

                                                                                                BA

                                                                                                C

                                                                                                D

                                                                                                E

                                                                                                F

                                                                                                At point A all resources are used for butter

                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                At point F all resources are used for Guns

                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                choices are

                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                Locations on a PPF

                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                Food

                                                                                                Computer

                                                                                                4

                                                                                                3

                                                                                                2

                                                                                                1

                                                                                                1 2 3 4

                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                Unit

                                                                                                Constantly giving up the same quantity of food to get

                                                                                                additional computers

                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                Principle of Increasing Costs

                                                                                                As a society produces more of one product the OC of producing

                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                Economic Systems

                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                Jigsaw activity

                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                Economic amp Social Goals of an Economic System

                                                                                                bull Economic Freedom

                                                                                                bull Economic Efficiency

                                                                                                bull Economic Equity

                                                                                                bull Economic Security

                                                                                                Economic Stability

                                                                                                Economic Growth

                                                                                                Review of Economic Systems

                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                What are the most important goals of each economic system

                                                                                                bullTraditionalSecurity and

                                                                                                StabilitybullCommand

                                                                                                Equity and Security

                                                                                                bullMARKETEfficiency and

                                                                                                Freedom

                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                at the expense of another (TRADEOFFS)

                                                                                                Which economic system does the US use

                                                                                                The American Economic System

                                                                                                bullWe have a mixed market economy

                                                                                                COMMAND MARKET

                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                Think backhellip

                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                2 Limited government

                                                                                                3 Equal opportunity

                                                                                                4 Competition

                                                                                                5 Profit motive

                                                                                                6 Property Rights

                                                                                                7 Binding Contracts

                                                                                                Understanding how all parts fit together

                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                Shows interdependence between

                                                                                                businesses and individuals

                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                Do you remember

                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                democracy and mixed economy

                                                                                                • Foundations of Government and Economics
                                                                                                • On your blank piece of paperhellip
                                                                                                • Slide 3
                                                                                                • Warm-Up 1 - 9414
                                                                                                • Introductory thoughts hellip
                                                                                                • Slide 6
                                                                                                • 2 How about to your life
                                                                                                • Slide 8
                                                                                                • Slide 9
                                                                                                • Slide 10
                                                                                                • Slide 11
                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                • Warm up 2bndash In Journal-
                                                                                                • Economist and Politician Assumptions
                                                                                                • Individualism
                                                                                                • Quote activity
                                                                                                • Quote breakdown
                                                                                                • Warm Up 3- Current Event 9814
                                                                                                • Purpose of Government
                                                                                                • Slide 20
                                                                                                • 3 Theorists
                                                                                                • Activity
                                                                                                • Origins of American Government A customized government
                                                                                                • Origins of American Government A customized government (2)
                                                                                                • Origins of American Government A customized government (3)
                                                                                                • With which theory do you agree more Why
                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                • Groups Block 2
                                                                                                • Groups Block 4
                                                                                                • Balloon Game
                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                • Balloon Game Debriefing
                                                                                                • Political Theories
                                                                                                • Social Contract
                                                                                                • Natural Rights
                                                                                                • Democracy
                                                                                                • Concepts of Government
                                                                                                • Warm up 6 ndash 91114
                                                                                                • Warm Up 7
                                                                                                • And after the Constitution
                                                                                                • Activity (2)
                                                                                                • Picture Activity
                                                                                                • Constitutional Convention
                                                                                                • Purpose of the Convention
                                                                                                • VA Plan v NJ Plan
                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                • Your Task
                                                                                                • Closure
                                                                                                • States agree
                                                                                                • Quote
                                                                                                • Structure of Constitution
                                                                                                • Structure of Constitution
                                                                                                • 6 Purpose of Government
                                                                                                • Structure of Constitution (2)
                                                                                                • Structure of Constitution (3)
                                                                                                • Principles of Constitution
                                                                                                • Activity
                                                                                                • Slide 60
                                                                                                • Check for Understanding Six Principles
                                                                                                • Question 1
                                                                                                • Question 2
                                                                                                • Question 3
                                                                                                • Question 4
                                                                                                • Question 5
                                                                                                • Question 6
                                                                                                • Question 7
                                                                                                • Question 8
                                                                                                • Groups
                                                                                                • Separation of Powers
                                                                                                • Video
                                                                                                • Checks and Balances
                                                                                                • Slide 74
                                                                                                • Checks and balances
                                                                                                • Basic Principles
                                                                                                • Self- Worth
                                                                                                • Equality
                                                                                                • Compromise
                                                                                                • Individual Freedom
                                                                                                • Write your ownhellip
                                                                                                • Slide 82
                                                                                                • TED Talk
                                                                                                • Closure
                                                                                                • What is Economics
                                                                                                • Economics ishellip
                                                                                                • Back to our assumptionshellip
                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                • For the videohellip
                                                                                                • Slide 90
                                                                                                • Post Videohellip
                                                                                                • Advertisement
                                                                                                • Political Cartoon Analysis
                                                                                                • Factors of Production
                                                                                                • TASK
                                                                                                • The price ofhellip
                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                • 1 What to produce
                                                                                                • 2 How to produce it
                                                                                                • 3 For whom to produce it
                                                                                                • Application Activity
                                                                                                • EQs
                                                                                                • Objectives amp Essential Questions
                                                                                                • Group Activity Budget Activity
                                                                                                • Slide 105
                                                                                                • How do we satisfy our economic wants
                                                                                                • How do we make goods amp services
                                                                                                • Economic Interdependence
                                                                                                • Slide 109
                                                                                                • Making Choices to Deal With Scarcity
                                                                                                • Exampleshellip
                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                • Opportunity Cost
                                                                                                • What else influences your choices
                                                                                                • Finallyhellip Why it Matters
                                                                                                • Visualizing the Relationshiphellip
                                                                                                • ObjectivesEssential Questions
                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                • Production Possibilities Frontier
                                                                                                • PPF Assumptions
                                                                                                • Slide 121
                                                                                                • Production Possibilities Curve
                                                                                                • The Choices Nations Make
                                                                                                • Economic Growth
                                                                                                • The Classic Guns and Butter example
                                                                                                • Productivity
                                                                                                • Locations on a PPF
                                                                                                • Slide 128
                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                • Economic Systems
                                                                                                • Jigsaw activity
                                                                                                • Slide 132
                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                • Review of Economic Systems
                                                                                                • Slide 135
                                                                                                • What are the most important goals of each economic system
                                                                                                • Which economic system does the US use
                                                                                                • The American Economic System
                                                                                                • The US mixed economy
                                                                                                • Slide 140
                                                                                                • Think backhellip
                                                                                                • US Economic System Characteristics
                                                                                                • Slide 143
                                                                                                • Understanding how all parts fit together
                                                                                                • Marriage Vows
                                                                                                • Do you remember
                                                                                                • Slide 147

                                                                                                  Closure

                                                                                                  bullWhat do you think (or know) happens to these two plans

                                                                                                  States agreebull States agree to (ratify) the Constitution

                                                                                                  only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                                  bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                                  Quote

                                                                                                  bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                                  bullWhat words stick to you in this quote Why

                                                                                                  Structure of Constitutionbull Provides basic

                                                                                                  framework for US government

                                                                                                  bull Outlines basic principles structure and processes

                                                                                                  bull Three partsmdashPreambleArticlesAmendments

                                                                                                  Structure of Constitution bull Preamble

                                                                                                  Introduction to the Constitution Lists ideas that the government should stand for

                                                                                                  and states purposes We the people of the United States in Order

                                                                                                  to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                                  6 Purpose of Government bull Form a More Perfect Union

                                                                                                  bull Establish Justice bull Insure Domestic Tranquility

                                                                                                  bull Provide for the Common Defense

                                                                                                  bull Promote the General Welfare

                                                                                                  bull Secure the Blessings of Liberty

                                                                                                  For each phrase consider the followinghellip

                                                                                                  1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                                  2 Is this phrase important today

                                                                                                  Structure of Constitution bullArticles

                                                                                                  Main body of the Constitution Lay out basic structure of the national

                                                                                                  governmentFurther broken down into sections and clauses

                                                                                                  Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                                  Clause oaths of office

                                                                                                  Article VII Ratification

                                                                                                  Structure of Constitution

                                                                                                  bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                                  Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                  bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                  Activity

                                                                                                  Activity bull STEP 1 bull Fill in the graphic

                                                                                                  organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                  bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                  Principle Explanation

                                                                                                  Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                  Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                  Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                  Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                  Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                  Federalism Divides the power between the central government and the States

                                                                                                  Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                  Question 1

                                                                                                  bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                  Popular Sovereignty

                                                                                                  Question 2

                                                                                                  bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                  Limited Government

                                                                                                  Question 3

                                                                                                  bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                  Limited Government

                                                                                                  Question 4

                                                                                                  bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                  SEPARATION OF POWERS

                                                                                                  Question 5

                                                                                                  bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                  Checks and Balances

                                                                                                  Question 6

                                                                                                  bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                  CHECKS AND BALANCES

                                                                                                  Question 7

                                                                                                  bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                  JUDICIAL REVIEW

                                                                                                  Question 8

                                                                                                  bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                  Federalism

                                                                                                  GroupsPopular

                                                                                                  SovereigntySeparation of

                                                                                                  PowersFederalism

                                                                                                  bull bull bull

                                                                                                  Judicial Review

                                                                                                  Limited Government

                                                                                                  Checks and Balances

                                                                                                  bull bull bull

                                                                                                  Separation of Powers

                                                                                                  bull Legislative branchmdashmakes the laws

                                                                                                  bull Executive branchmdashenforces the laws

                                                                                                  bull Judicial branchmdashinterprets the law

                                                                                                  Video

                                                                                                  bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                  Checks and Balances

                                                                                                  Checks and balances

                                                                                                  bullIn what was do the branches check on one another

                                                                                                  bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                  Basic Principles

                                                                                                  bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                  Self- Worth

                                                                                                  bull A recognition of the fundamental worth of every person

                                                                                                  bull The democratic process reflects the collective set of individuals who make up society

                                                                                                  Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                  bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                  bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                  Compromise

                                                                                                  bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                  bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                  bullWhy is compromise important

                                                                                                  Individual Freedombull Right of the

                                                                                                  individual to be free as far as the freedom of all will allow

                                                                                                  bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                  Write your ownhellipbull Now that you know what the foundations of

                                                                                                  government arehellip Create your own Constitution (Or social contract)

                                                                                                  What do you think is important to include What do you think could be taken out

                                                                                                  Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                  Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                  learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                  change it)

                                                                                                  bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                  paper

                                                                                                  TED Talk

                                                                                                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                  Closure

                                                                                                  bullExplain two principles of the constitution and how are they connected

                                                                                                  What is Economics

                                                                                                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                  Important Parts of Economicsndash

                                                                                                  CHOICESSCARCITY

                                                                                                  Economics ishellip

                                                                                                  bullDependent upon assumptions

                                                                                                  bullDependent upon simplification of reality

                                                                                                  Back to our assumptionshellip

                                                                                                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                  bullAll sellers seek to maximize profits

                                                                                                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                  For the videohellip

                                                                                                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                  Post Videohellip

                                                                                                  bullDefine the main idea of the video in 4-5 words

                                                                                                  Advertisement

                                                                                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                  3 images that represent different economic ideas

                                                                                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                  1 slogan that represents why economics is an important course to take

                                                                                                  Political Cartoon Analysis

                                                                                                  Factors of Production bull LAND

                                                                                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                  soil minerals water and plants

                                                                                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                  into producing goodsservices

                                                                                                  bull CAPITAL Includes tools machines buildings and

                                                                                                  technologies

                                                                                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                  land labor and capital to produce goods and services

                                                                                                  TASK

                                                                                                  bullTask Why are entrepreneurs the driving force in our economy

                                                                                                  bullAnswer in 2-3 sentences

                                                                                                  The price ofhellip

                                                                                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                  Economic efficiency is achieved when all available resources are being used

                                                                                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                  1 What to produce

                                                                                                  bullShould it be military or civilian goods

                                                                                                  bullFood or clothingbullMedicine or movies

                                                                                                  2 How to produce it

                                                                                                  bullAutomated or manual labor

                                                                                                  bullExpensive or cheap materials

                                                                                                  bullDomestic or overseas labor

                                                                                                  3 For whom to produce it

                                                                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                                                                  Application Activity

                                                                                                  bull In groups of 2-3 create your own country (name it please)

                                                                                                  bull With your countryrsquos name explain the Population geography and general population

                                                                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                  withhellip Images representing what you produce and a

                                                                                                  slogan for why your country is awesome

                                                                                                  EQs

                                                                                                  bullHow does scarcity impact decision making

                                                                                                  Objectives amp Essential QuestionsbullObjectives

                                                                                                  I will be able to create and reflect on a budget given new economics content

                                                                                                  I will be able to understand scarcity and our mixed economy

                                                                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                  Group Activity Budget Activity

                                                                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                  How do we satisfy our economic wants

                                                                                                  bull We buy goods or services

                                                                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                  How do we make goods amp services

                                                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                  Production Equation

                                                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                  inputs output

                                                                                                  Economic Interdependence

                                                                                                  bullWhat does lsquointerdependencersquo mean

                                                                                                  bullIs our world becoming economic interdependent or independent

                                                                                                  bullEconomic Interdependence the actions of one part of the

                                                                                                  country (world) has an impact on what happens elsewhere

                                                                                                  Wants amp Needs gt

                                                                                                  Resources

                                                                                                  Because of scarcity we

                                                                                                  have to make choices

                                                                                                  How do we make a choice What do we give up

                                                                                                  What does this remind you of from our government unit

                                                                                                  Making Choices to Deal With Scarcity

                                                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                  decision over another

                                                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                  school today or should I sleep in

                                                                                                  Task Reflecting on Personal Trade-offshellip

                                                                                                  In the end what helped you decide amongst your choices

                                                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                  tradeoffs for that decision

                                                                                                  Be prepared to share

                                                                                                  Opportunity Cost

                                                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                                                  we want

                                                                                                  What else influences your choices

                                                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                  FinallyhellipWhy it Matters

                                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                  better decision-maker

                                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                  You always have to give something uphelliprdquo

                                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                  decisions

                                                                                                  Visualizing the Relationshiphellip

                                                                                                  Limited Resources amp Unlimited Wants

                                                                                                  Scarcity

                                                                                                  Trade-offs (choices)

                                                                                                  Opportunity Costs

                                                                                                  ObjectivesEssential Questions

                                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                                  the three different types of economies

                                                                                                  bullEssential Question How do the different types of economies work

                                                                                                  How Can We Measure What We Gain and Lose When

                                                                                                  Making Choices

                                                                                                  Answer With a Production Possibilities Frontier

                                                                                                  Production Possibilities Frontier

                                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                  PPF Assumptions

                                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                  Production Possibilities Curve

                                                                                                  CD

                                                                                                  E

                                                                                                  OU

                                                                                                  TP

                                                                                                  UT

                                                                                                  OF

                                                                                                  CO

                                                                                                  NS

                                                                                                  UM

                                                                                                  ER

                                                                                                  GO

                                                                                                  OD

                                                                                                  S

                                                                                                  (un

                                                                                                  its

                                                                                                  per

                                                                                                  yea

                                                                                                  r)

                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                  A

                                                                                                  BO

                                                                                                  XF

                                                                                                  G

                                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                                  The Choices Nations Make

                                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                  bullProduce military goods or consumer goods

                                                                                                  Economic Growth

                                                                                                  2000 production possibilities

                                                                                                  1900 production possibilities

                                                                                                  OU

                                                                                                  TP

                                                                                                  UT

                                                                                                  OF

                                                                                                  CO

                                                                                                  NS

                                                                                                  UM

                                                                                                  ER

                                                                                                  GO

                                                                                                  OD

                                                                                                  S(u

                                                                                                  nits

                                                                                                  per

                                                                                                  yea

                                                                                                  r)

                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                  Production possibilities increases with more resources and technology

                                                                                                  The Classic Guns and Butter example

                                                                                                  Guns

                                                                                                  Butter

                                                                                                  10000 20000 30000 40000 50000

                                                                                                  1000009500085000

                                                                                                  70000

                                                                                                  5000040000

                                                                                                  BA

                                                                                                  C

                                                                                                  D

                                                                                                  E

                                                                                                  F

                                                                                                  At point A all resources are used for butter

                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                  At point F all resources are used for Guns

                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                  choices are

                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                  Locations on a PPF

                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                  Food

                                                                                                  Computer

                                                                                                  4

                                                                                                  3

                                                                                                  2

                                                                                                  1

                                                                                                  1 2 3 4

                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                  Unit

                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                  additional computers

                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                  Principle of Increasing Costs

                                                                                                  As a society produces more of one product the OC of producing

                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                  Economic Systems

                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                  Jigsaw activity

                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                  bull Economic Freedom

                                                                                                  bull Economic Efficiency

                                                                                                  bull Economic Equity

                                                                                                  bull Economic Security

                                                                                                  Economic Stability

                                                                                                  Economic Growth

                                                                                                  Review of Economic Systems

                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                  What are the most important goals of each economic system

                                                                                                  bullTraditionalSecurity and

                                                                                                  StabilitybullCommand

                                                                                                  Equity and Security

                                                                                                  bullMARKETEfficiency and

                                                                                                  Freedom

                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                  Which economic system does the US use

                                                                                                  The American Economic System

                                                                                                  bullWe have a mixed market economy

                                                                                                  COMMAND MARKET

                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                  Think backhellip

                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                  2 Limited government

                                                                                                  3 Equal opportunity

                                                                                                  4 Competition

                                                                                                  5 Profit motive

                                                                                                  6 Property Rights

                                                                                                  7 Binding Contracts

                                                                                                  Understanding how all parts fit together

                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                  Shows interdependence between

                                                                                                  businesses and individuals

                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                  Do you remember

                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                  democracy and mixed economy

                                                                                                  • Foundations of Government and Economics
                                                                                                  • On your blank piece of paperhellip
                                                                                                  • Slide 3
                                                                                                  • Warm-Up 1 - 9414
                                                                                                  • Introductory thoughts hellip
                                                                                                  • Slide 6
                                                                                                  • 2 How about to your life
                                                                                                  • Slide 8
                                                                                                  • Slide 9
                                                                                                  • Slide 10
                                                                                                  • Slide 11
                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                  • Warm up 2bndash In Journal-
                                                                                                  • Economist and Politician Assumptions
                                                                                                  • Individualism
                                                                                                  • Quote activity
                                                                                                  • Quote breakdown
                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                  • Purpose of Government
                                                                                                  • Slide 20
                                                                                                  • 3 Theorists
                                                                                                  • Activity
                                                                                                  • Origins of American Government A customized government
                                                                                                  • Origins of American Government A customized government (2)
                                                                                                  • Origins of American Government A customized government (3)
                                                                                                  • With which theory do you agree more Why
                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                  • Groups Block 2
                                                                                                  • Groups Block 4
                                                                                                  • Balloon Game
                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                  • Balloon Game Debriefing
                                                                                                  • Political Theories
                                                                                                  • Social Contract
                                                                                                  • Natural Rights
                                                                                                  • Democracy
                                                                                                  • Concepts of Government
                                                                                                  • Warm up 6 ndash 91114
                                                                                                  • Warm Up 7
                                                                                                  • And after the Constitution
                                                                                                  • Activity (2)
                                                                                                  • Picture Activity
                                                                                                  • Constitutional Convention
                                                                                                  • Purpose of the Convention
                                                                                                  • VA Plan v NJ Plan
                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                  • Your Task
                                                                                                  • Closure
                                                                                                  • States agree
                                                                                                  • Quote
                                                                                                  • Structure of Constitution
                                                                                                  • Structure of Constitution
                                                                                                  • 6 Purpose of Government
                                                                                                  • Structure of Constitution (2)
                                                                                                  • Structure of Constitution (3)
                                                                                                  • Principles of Constitution
                                                                                                  • Activity
                                                                                                  • Slide 60
                                                                                                  • Check for Understanding Six Principles
                                                                                                  • Question 1
                                                                                                  • Question 2
                                                                                                  • Question 3
                                                                                                  • Question 4
                                                                                                  • Question 5
                                                                                                  • Question 6
                                                                                                  • Question 7
                                                                                                  • Question 8
                                                                                                  • Groups
                                                                                                  • Separation of Powers
                                                                                                  • Video
                                                                                                  • Checks and Balances
                                                                                                  • Slide 74
                                                                                                  • Checks and balances
                                                                                                  • Basic Principles
                                                                                                  • Self- Worth
                                                                                                  • Equality
                                                                                                  • Compromise
                                                                                                  • Individual Freedom
                                                                                                  • Write your ownhellip
                                                                                                  • Slide 82
                                                                                                  • TED Talk
                                                                                                  • Closure
                                                                                                  • What is Economics
                                                                                                  • Economics ishellip
                                                                                                  • Back to our assumptionshellip
                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                  • For the videohellip
                                                                                                  • Slide 90
                                                                                                  • Post Videohellip
                                                                                                  • Advertisement
                                                                                                  • Political Cartoon Analysis
                                                                                                  • Factors of Production
                                                                                                  • TASK
                                                                                                  • The price ofhellip
                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                  • 1 What to produce
                                                                                                  • 2 How to produce it
                                                                                                  • 3 For whom to produce it
                                                                                                  • Application Activity
                                                                                                  • EQs
                                                                                                  • Objectives amp Essential Questions
                                                                                                  • Group Activity Budget Activity
                                                                                                  • Slide 105
                                                                                                  • How do we satisfy our economic wants
                                                                                                  • How do we make goods amp services
                                                                                                  • Economic Interdependence
                                                                                                  • Slide 109
                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                  • Exampleshellip
                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                  • Opportunity Cost
                                                                                                  • What else influences your choices
                                                                                                  • Finallyhellip Why it Matters
                                                                                                  • Visualizing the Relationshiphellip
                                                                                                  • ObjectivesEssential Questions
                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                  • Production Possibilities Frontier
                                                                                                  • PPF Assumptions
                                                                                                  • Slide 121
                                                                                                  • Production Possibilities Curve
                                                                                                  • The Choices Nations Make
                                                                                                  • Economic Growth
                                                                                                  • The Classic Guns and Butter example
                                                                                                  • Productivity
                                                                                                  • Locations on a PPF
                                                                                                  • Slide 128
                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                  • Economic Systems
                                                                                                  • Jigsaw activity
                                                                                                  • Slide 132
                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                  • Review of Economic Systems
                                                                                                  • Slide 135
                                                                                                  • What are the most important goals of each economic system
                                                                                                  • Which economic system does the US use
                                                                                                  • The American Economic System
                                                                                                  • The US mixed economy
                                                                                                  • Slide 140
                                                                                                  • Think backhellip
                                                                                                  • US Economic System Characteristics
                                                                                                  • Slide 143
                                                                                                  • Understanding how all parts fit together
                                                                                                  • Marriage Vows
                                                                                                  • Do you remember
                                                                                                  • Slide 147

                                                                                                    States agreebull States agree to (ratify) the Constitution

                                                                                                    only after it was agreed that a Bill of Rights be addedConstitution takes effect in 1788Bill of Rights added in 1791

                                                                                                    bullThe Constitution is written in language that is deliberately vague as a result of compromise and to allow for flexibilityWhy

                                                                                                    Quote

                                                                                                    bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                                    bullWhat words stick to you in this quote Why

                                                                                                    Structure of Constitutionbull Provides basic

                                                                                                    framework for US government

                                                                                                    bull Outlines basic principles structure and processes

                                                                                                    bull Three partsmdashPreambleArticlesAmendments

                                                                                                    Structure of Constitution bull Preamble

                                                                                                    Introduction to the Constitution Lists ideas that the government should stand for

                                                                                                    and states purposes We the people of the United States in Order

                                                                                                    to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                                    6 Purpose of Government bull Form a More Perfect Union

                                                                                                    bull Establish Justice bull Insure Domestic Tranquility

                                                                                                    bull Provide for the Common Defense

                                                                                                    bull Promote the General Welfare

                                                                                                    bull Secure the Blessings of Liberty

                                                                                                    For each phrase consider the followinghellip

                                                                                                    1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                                    2 Is this phrase important today

                                                                                                    Structure of Constitution bullArticles

                                                                                                    Main body of the Constitution Lay out basic structure of the national

                                                                                                    governmentFurther broken down into sections and clauses

                                                                                                    Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                                    Clause oaths of office

                                                                                                    Article VII Ratification

                                                                                                    Structure of Constitution

                                                                                                    bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                                    Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                    bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                    Activity

                                                                                                    Activity bull STEP 1 bull Fill in the graphic

                                                                                                    organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                    bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                    Principle Explanation

                                                                                                    Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                    Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                    Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                    Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                    Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                    Federalism Divides the power between the central government and the States

                                                                                                    Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                    Question 1

                                                                                                    bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                    Popular Sovereignty

                                                                                                    Question 2

                                                                                                    bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                    Limited Government

                                                                                                    Question 3

                                                                                                    bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                    Limited Government

                                                                                                    Question 4

                                                                                                    bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                    SEPARATION OF POWERS

                                                                                                    Question 5

                                                                                                    bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                    Checks and Balances

                                                                                                    Question 6

                                                                                                    bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                    CHECKS AND BALANCES

                                                                                                    Question 7

                                                                                                    bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                    JUDICIAL REVIEW

                                                                                                    Question 8

                                                                                                    bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                    Federalism

                                                                                                    GroupsPopular

                                                                                                    SovereigntySeparation of

                                                                                                    PowersFederalism

                                                                                                    bull bull bull

                                                                                                    Judicial Review

                                                                                                    Limited Government

                                                                                                    Checks and Balances

                                                                                                    bull bull bull

                                                                                                    Separation of Powers

                                                                                                    bull Legislative branchmdashmakes the laws

                                                                                                    bull Executive branchmdashenforces the laws

                                                                                                    bull Judicial branchmdashinterprets the law

                                                                                                    Video

                                                                                                    bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                    Checks and Balances

                                                                                                    Checks and balances

                                                                                                    bullIn what was do the branches check on one another

                                                                                                    bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                    Basic Principles

                                                                                                    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                    Self- Worth

                                                                                                    bull A recognition of the fundamental worth of every person

                                                                                                    bull The democratic process reflects the collective set of individuals who make up society

                                                                                                    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                    Compromise

                                                                                                    bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                    bullWhy is compromise important

                                                                                                    Individual Freedombull Right of the

                                                                                                    individual to be free as far as the freedom of all will allow

                                                                                                    bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                    Write your ownhellipbull Now that you know what the foundations of

                                                                                                    government arehellip Create your own Constitution (Or social contract)

                                                                                                    What do you think is important to include What do you think could be taken out

                                                                                                    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                    Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                    change it)

                                                                                                    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                    paper

                                                                                                    TED Talk

                                                                                                    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                    Closure

                                                                                                    bullExplain two principles of the constitution and how are they connected

                                                                                                    What is Economics

                                                                                                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                    Important Parts of Economicsndash

                                                                                                    CHOICESSCARCITY

                                                                                                    Economics ishellip

                                                                                                    bullDependent upon assumptions

                                                                                                    bullDependent upon simplification of reality

                                                                                                    Back to our assumptionshellip

                                                                                                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                    bullAll sellers seek to maximize profits

                                                                                                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                    For the videohellip

                                                                                                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                    Post Videohellip

                                                                                                    bullDefine the main idea of the video in 4-5 words

                                                                                                    Advertisement

                                                                                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                    3 images that represent different economic ideas

                                                                                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                    1 slogan that represents why economics is an important course to take

                                                                                                    Political Cartoon Analysis

                                                                                                    Factors of Production bull LAND

                                                                                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                    soil minerals water and plants

                                                                                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                    into producing goodsservices

                                                                                                    bull CAPITAL Includes tools machines buildings and

                                                                                                    technologies

                                                                                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                    land labor and capital to produce goods and services

                                                                                                    TASK

                                                                                                    bullTask Why are entrepreneurs the driving force in our economy

                                                                                                    bullAnswer in 2-3 sentences

                                                                                                    The price ofhellip

                                                                                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                    Economic efficiency is achieved when all available resources are being used

                                                                                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                    1 What to produce

                                                                                                    bullShould it be military or civilian goods

                                                                                                    bullFood or clothingbullMedicine or movies

                                                                                                    2 How to produce it

                                                                                                    bullAutomated or manual labor

                                                                                                    bullExpensive or cheap materials

                                                                                                    bullDomestic or overseas labor

                                                                                                    3 For whom to produce it

                                                                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                                                                    Application Activity

                                                                                                    bull In groups of 2-3 create your own country (name it please)

                                                                                                    bull With your countryrsquos name explain the Population geography and general population

                                                                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                    withhellip Images representing what you produce and a

                                                                                                    slogan for why your country is awesome

                                                                                                    EQs

                                                                                                    bullHow does scarcity impact decision making

                                                                                                    Objectives amp Essential QuestionsbullObjectives

                                                                                                    I will be able to create and reflect on a budget given new economics content

                                                                                                    I will be able to understand scarcity and our mixed economy

                                                                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                    Group Activity Budget Activity

                                                                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                    How do we satisfy our economic wants

                                                                                                    bull We buy goods or services

                                                                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                    How do we make goods amp services

                                                                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                    Production Equation

                                                                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                    inputs output

                                                                                                    Economic Interdependence

                                                                                                    bullWhat does lsquointerdependencersquo mean

                                                                                                    bullIs our world becoming economic interdependent or independent

                                                                                                    bullEconomic Interdependence the actions of one part of the

                                                                                                    country (world) has an impact on what happens elsewhere

                                                                                                    Wants amp Needs gt

                                                                                                    Resources

                                                                                                    Because of scarcity we

                                                                                                    have to make choices

                                                                                                    How do we make a choice What do we give up

                                                                                                    What does this remind you of from our government unit

                                                                                                    Making Choices to Deal With Scarcity

                                                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                    decision over another

                                                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                    school today or should I sleep in

                                                                                                    Task Reflecting on Personal Trade-offshellip

                                                                                                    In the end what helped you decide amongst your choices

                                                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                    tradeoffs for that decision

                                                                                                    Be prepared to share

                                                                                                    Opportunity Cost

                                                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                                                    we want

                                                                                                    What else influences your choices

                                                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                    FinallyhellipWhy it Matters

                                                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                    better decision-maker

                                                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                    You always have to give something uphelliprdquo

                                                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                    decisions

                                                                                                    Visualizing the Relationshiphellip

                                                                                                    Limited Resources amp Unlimited Wants

                                                                                                    Scarcity

                                                                                                    Trade-offs (choices)

                                                                                                    Opportunity Costs

                                                                                                    ObjectivesEssential Questions

                                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                                    the three different types of economies

                                                                                                    bullEssential Question How do the different types of economies work

                                                                                                    How Can We Measure What We Gain and Lose When

                                                                                                    Making Choices

                                                                                                    Answer With a Production Possibilities Frontier

                                                                                                    Production Possibilities Frontier

                                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                    PPF Assumptions

                                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                    Production Possibilities Curve

                                                                                                    CD

                                                                                                    E

                                                                                                    OU

                                                                                                    TP

                                                                                                    UT

                                                                                                    OF

                                                                                                    CO

                                                                                                    NS

                                                                                                    UM

                                                                                                    ER

                                                                                                    GO

                                                                                                    OD

                                                                                                    S

                                                                                                    (un

                                                                                                    its

                                                                                                    per

                                                                                                    yea

                                                                                                    r)

                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                    A

                                                                                                    BO

                                                                                                    XF

                                                                                                    G

                                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                                    The Choices Nations Make

                                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                    bullProduce military goods or consumer goods

                                                                                                    Economic Growth

                                                                                                    2000 production possibilities

                                                                                                    1900 production possibilities

                                                                                                    OU

                                                                                                    TP

                                                                                                    UT

                                                                                                    OF

                                                                                                    CO

                                                                                                    NS

                                                                                                    UM

                                                                                                    ER

                                                                                                    GO

                                                                                                    OD

                                                                                                    S(u

                                                                                                    nits

                                                                                                    per

                                                                                                    yea

                                                                                                    r)

                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                    Production possibilities increases with more resources and technology

                                                                                                    The Classic Guns and Butter example

                                                                                                    Guns

                                                                                                    Butter

                                                                                                    10000 20000 30000 40000 50000

                                                                                                    1000009500085000

                                                                                                    70000

                                                                                                    5000040000

                                                                                                    BA

                                                                                                    C

                                                                                                    D

                                                                                                    E

                                                                                                    F

                                                                                                    At point A all resources are used for butter

                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                    At point F all resources are used for Guns

                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                    choices are

                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                    Locations on a PPF

                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                    Food

                                                                                                    Computer

                                                                                                    4

                                                                                                    3

                                                                                                    2

                                                                                                    1

                                                                                                    1 2 3 4

                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                    Unit

                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                    additional computers

                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                    Principle of Increasing Costs

                                                                                                    As a society produces more of one product the OC of producing

                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                    Economic Systems

                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                    Jigsaw activity

                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                    bull Economic Freedom

                                                                                                    bull Economic Efficiency

                                                                                                    bull Economic Equity

                                                                                                    bull Economic Security

                                                                                                    Economic Stability

                                                                                                    Economic Growth

                                                                                                    Review of Economic Systems

                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                    What are the most important goals of each economic system

                                                                                                    bullTraditionalSecurity and

                                                                                                    StabilitybullCommand

                                                                                                    Equity and Security

                                                                                                    bullMARKETEfficiency and

                                                                                                    Freedom

                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                    Which economic system does the US use

                                                                                                    The American Economic System

                                                                                                    bullWe have a mixed market economy

                                                                                                    COMMAND MARKET

                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                    Think backhellip

                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                    2 Limited government

                                                                                                    3 Equal opportunity

                                                                                                    4 Competition

                                                                                                    5 Profit motive

                                                                                                    6 Property Rights

                                                                                                    7 Binding Contracts

                                                                                                    Understanding how all parts fit together

                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                    Shows interdependence between

                                                                                                    businesses and individuals

                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                    Do you remember

                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                    democracy and mixed economy

                                                                                                    • Foundations of Government and Economics
                                                                                                    • On your blank piece of paperhellip
                                                                                                    • Slide 3
                                                                                                    • Warm-Up 1 - 9414
                                                                                                    • Introductory thoughts hellip
                                                                                                    • Slide 6
                                                                                                    • 2 How about to your life
                                                                                                    • Slide 8
                                                                                                    • Slide 9
                                                                                                    • Slide 10
                                                                                                    • Slide 11
                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                    • Warm up 2bndash In Journal-
                                                                                                    • Economist and Politician Assumptions
                                                                                                    • Individualism
                                                                                                    • Quote activity
                                                                                                    • Quote breakdown
                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                    • Purpose of Government
                                                                                                    • Slide 20
                                                                                                    • 3 Theorists
                                                                                                    • Activity
                                                                                                    • Origins of American Government A customized government
                                                                                                    • Origins of American Government A customized government (2)
                                                                                                    • Origins of American Government A customized government (3)
                                                                                                    • With which theory do you agree more Why
                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                    • Groups Block 2
                                                                                                    • Groups Block 4
                                                                                                    • Balloon Game
                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                    • Balloon Game Debriefing
                                                                                                    • Political Theories
                                                                                                    • Social Contract
                                                                                                    • Natural Rights
                                                                                                    • Democracy
                                                                                                    • Concepts of Government
                                                                                                    • Warm up 6 ndash 91114
                                                                                                    • Warm Up 7
                                                                                                    • And after the Constitution
                                                                                                    • Activity (2)
                                                                                                    • Picture Activity
                                                                                                    • Constitutional Convention
                                                                                                    • Purpose of the Convention
                                                                                                    • VA Plan v NJ Plan
                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                    • Your Task
                                                                                                    • Closure
                                                                                                    • States agree
                                                                                                    • Quote
                                                                                                    • Structure of Constitution
                                                                                                    • Structure of Constitution
                                                                                                    • 6 Purpose of Government
                                                                                                    • Structure of Constitution (2)
                                                                                                    • Structure of Constitution (3)
                                                                                                    • Principles of Constitution
                                                                                                    • Activity
                                                                                                    • Slide 60
                                                                                                    • Check for Understanding Six Principles
                                                                                                    • Question 1
                                                                                                    • Question 2
                                                                                                    • Question 3
                                                                                                    • Question 4
                                                                                                    • Question 5
                                                                                                    • Question 6
                                                                                                    • Question 7
                                                                                                    • Question 8
                                                                                                    • Groups
                                                                                                    • Separation of Powers
                                                                                                    • Video
                                                                                                    • Checks and Balances
                                                                                                    • Slide 74
                                                                                                    • Checks and balances
                                                                                                    • Basic Principles
                                                                                                    • Self- Worth
                                                                                                    • Equality
                                                                                                    • Compromise
                                                                                                    • Individual Freedom
                                                                                                    • Write your ownhellip
                                                                                                    • Slide 82
                                                                                                    • TED Talk
                                                                                                    • Closure
                                                                                                    • What is Economics
                                                                                                    • Economics ishellip
                                                                                                    • Back to our assumptionshellip
                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                    • For the videohellip
                                                                                                    • Slide 90
                                                                                                    • Post Videohellip
                                                                                                    • Advertisement
                                                                                                    • Political Cartoon Analysis
                                                                                                    • Factors of Production
                                                                                                    • TASK
                                                                                                    • The price ofhellip
                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                    • 1 What to produce
                                                                                                    • 2 How to produce it
                                                                                                    • 3 For whom to produce it
                                                                                                    • Application Activity
                                                                                                    • EQs
                                                                                                    • Objectives amp Essential Questions
                                                                                                    • Group Activity Budget Activity
                                                                                                    • Slide 105
                                                                                                    • How do we satisfy our economic wants
                                                                                                    • How do we make goods amp services
                                                                                                    • Economic Interdependence
                                                                                                    • Slide 109
                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                    • Exampleshellip
                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                    • Opportunity Cost
                                                                                                    • What else influences your choices
                                                                                                    • Finallyhellip Why it Matters
                                                                                                    • Visualizing the Relationshiphellip
                                                                                                    • ObjectivesEssential Questions
                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                    • Production Possibilities Frontier
                                                                                                    • PPF Assumptions
                                                                                                    • Slide 121
                                                                                                    • Production Possibilities Curve
                                                                                                    • The Choices Nations Make
                                                                                                    • Economic Growth
                                                                                                    • The Classic Guns and Butter example
                                                                                                    • Productivity
                                                                                                    • Locations on a PPF
                                                                                                    • Slide 128
                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                    • Economic Systems
                                                                                                    • Jigsaw activity
                                                                                                    • Slide 132
                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                    • Review of Economic Systems
                                                                                                    • Slide 135
                                                                                                    • What are the most important goals of each economic system
                                                                                                    • Which economic system does the US use
                                                                                                    • The American Economic System
                                                                                                    • The US mixed economy
                                                                                                    • Slide 140
                                                                                                    • Think backhellip
                                                                                                    • US Economic System Characteristics
                                                                                                    • Slide 143
                                                                                                    • Understanding how all parts fit together
                                                                                                    • Marriage Vows
                                                                                                    • Do you remember
                                                                                                    • Slide 147

                                                                                                      Quote

                                                                                                      bullThe United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written ndash FDR

                                                                                                      bullWhat words stick to you in this quote Why

                                                                                                      Structure of Constitutionbull Provides basic

                                                                                                      framework for US government

                                                                                                      bull Outlines basic principles structure and processes

                                                                                                      bull Three partsmdashPreambleArticlesAmendments

                                                                                                      Structure of Constitution bull Preamble

                                                                                                      Introduction to the Constitution Lists ideas that the government should stand for

                                                                                                      and states purposes We the people of the United States in Order

                                                                                                      to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                                      6 Purpose of Government bull Form a More Perfect Union

                                                                                                      bull Establish Justice bull Insure Domestic Tranquility

                                                                                                      bull Provide for the Common Defense

                                                                                                      bull Promote the General Welfare

                                                                                                      bull Secure the Blessings of Liberty

                                                                                                      For each phrase consider the followinghellip

                                                                                                      1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                                      2 Is this phrase important today

                                                                                                      Structure of Constitution bullArticles

                                                                                                      Main body of the Constitution Lay out basic structure of the national

                                                                                                      governmentFurther broken down into sections and clauses

                                                                                                      Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                                      Clause oaths of office

                                                                                                      Article VII Ratification

                                                                                                      Structure of Constitution

                                                                                                      bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                                      Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                      bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                      Activity

                                                                                                      Activity bull STEP 1 bull Fill in the graphic

                                                                                                      organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                      bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                      Principle Explanation

                                                                                                      Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                      Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                      Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                      Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                      Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                      Federalism Divides the power between the central government and the States

                                                                                                      Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                      Question 1

                                                                                                      bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                      Popular Sovereignty

                                                                                                      Question 2

                                                                                                      bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                      Limited Government

                                                                                                      Question 3

                                                                                                      bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                      Limited Government

                                                                                                      Question 4

                                                                                                      bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                      SEPARATION OF POWERS

                                                                                                      Question 5

                                                                                                      bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                      Checks and Balances

                                                                                                      Question 6

                                                                                                      bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                      CHECKS AND BALANCES

                                                                                                      Question 7

                                                                                                      bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                      JUDICIAL REVIEW

                                                                                                      Question 8

                                                                                                      bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                      Federalism

                                                                                                      GroupsPopular

                                                                                                      SovereigntySeparation of

                                                                                                      PowersFederalism

                                                                                                      bull bull bull

                                                                                                      Judicial Review

                                                                                                      Limited Government

                                                                                                      Checks and Balances

                                                                                                      bull bull bull

                                                                                                      Separation of Powers

                                                                                                      bull Legislative branchmdashmakes the laws

                                                                                                      bull Executive branchmdashenforces the laws

                                                                                                      bull Judicial branchmdashinterprets the law

                                                                                                      Video

                                                                                                      bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                      Checks and Balances

                                                                                                      Checks and balances

                                                                                                      bullIn what was do the branches check on one another

                                                                                                      bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                      Basic Principles

                                                                                                      bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                      Self- Worth

                                                                                                      bull A recognition of the fundamental worth of every person

                                                                                                      bull The democratic process reflects the collective set of individuals who make up society

                                                                                                      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                      Compromise

                                                                                                      bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                      bullWhy is compromise important

                                                                                                      Individual Freedombull Right of the

                                                                                                      individual to be free as far as the freedom of all will allow

                                                                                                      bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                      Write your ownhellipbull Now that you know what the foundations of

                                                                                                      government arehellip Create your own Constitution (Or social contract)

                                                                                                      What do you think is important to include What do you think could be taken out

                                                                                                      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                      Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                      change it)

                                                                                                      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                      paper

                                                                                                      TED Talk

                                                                                                      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                      Closure

                                                                                                      bullExplain two principles of the constitution and how are they connected

                                                                                                      What is Economics

                                                                                                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                      Important Parts of Economicsndash

                                                                                                      CHOICESSCARCITY

                                                                                                      Economics ishellip

                                                                                                      bullDependent upon assumptions

                                                                                                      bullDependent upon simplification of reality

                                                                                                      Back to our assumptionshellip

                                                                                                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                      bullAll sellers seek to maximize profits

                                                                                                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                      For the videohellip

                                                                                                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                      Post Videohellip

                                                                                                      bullDefine the main idea of the video in 4-5 words

                                                                                                      Advertisement

                                                                                                      bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                      3 images that represent different economic ideas

                                                                                                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                      1 slogan that represents why economics is an important course to take

                                                                                                      Political Cartoon Analysis

                                                                                                      Factors of Production bull LAND

                                                                                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                      soil minerals water and plants

                                                                                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                      into producing goodsservices

                                                                                                      bull CAPITAL Includes tools machines buildings and

                                                                                                      technologies

                                                                                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                      land labor and capital to produce goods and services

                                                                                                      TASK

                                                                                                      bullTask Why are entrepreneurs the driving force in our economy

                                                                                                      bullAnswer in 2-3 sentences

                                                                                                      The price ofhellip

                                                                                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                      Economic efficiency is achieved when all available resources are being used

                                                                                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                      1 What to produce

                                                                                                      bullShould it be military or civilian goods

                                                                                                      bullFood or clothingbullMedicine or movies

                                                                                                      2 How to produce it

                                                                                                      bullAutomated or manual labor

                                                                                                      bullExpensive or cheap materials

                                                                                                      bullDomestic or overseas labor

                                                                                                      3 For whom to produce it

                                                                                                      bullThe wealthy or the needybullThe sick or the healthy

                                                                                                      Application Activity

                                                                                                      bull In groups of 2-3 create your own country (name it please)

                                                                                                      bull With your countryrsquos name explain the Population geography and general population

                                                                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                      withhellip Images representing what you produce and a

                                                                                                      slogan for why your country is awesome

                                                                                                      EQs

                                                                                                      bullHow does scarcity impact decision making

                                                                                                      Objectives amp Essential QuestionsbullObjectives

                                                                                                      I will be able to create and reflect on a budget given new economics content

                                                                                                      I will be able to understand scarcity and our mixed economy

                                                                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                      Group Activity Budget Activity

                                                                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                      How do we satisfy our economic wants

                                                                                                      bull We buy goods or services

                                                                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                      How do we make goods amp services

                                                                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                      Production Equation

                                                                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                      inputs output

                                                                                                      Economic Interdependence

                                                                                                      bullWhat does lsquointerdependencersquo mean

                                                                                                      bullIs our world becoming economic interdependent or independent

                                                                                                      bullEconomic Interdependence the actions of one part of the

                                                                                                      country (world) has an impact on what happens elsewhere

                                                                                                      Wants amp Needs gt

                                                                                                      Resources

                                                                                                      Because of scarcity we

                                                                                                      have to make choices

                                                                                                      How do we make a choice What do we give up

                                                                                                      What does this remind you of from our government unit

                                                                                                      Making Choices to Deal With Scarcity

                                                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                      decision over another

                                                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                      school today or should I sleep in

                                                                                                      Task Reflecting on Personal Trade-offshellip

                                                                                                      In the end what helped you decide amongst your choices

                                                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                      tradeoffs for that decision

                                                                                                      Be prepared to share

                                                                                                      Opportunity Cost

                                                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                                                      we want

                                                                                                      What else influences your choices

                                                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                      FinallyhellipWhy it Matters

                                                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                      better decision-maker

                                                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                      You always have to give something uphelliprdquo

                                                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                      decisions

                                                                                                      Visualizing the Relationshiphellip

                                                                                                      Limited Resources amp Unlimited Wants

                                                                                                      Scarcity

                                                                                                      Trade-offs (choices)

                                                                                                      Opportunity Costs

                                                                                                      ObjectivesEssential Questions

                                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                                      the three different types of economies

                                                                                                      bullEssential Question How do the different types of economies work

                                                                                                      How Can We Measure What We Gain and Lose When

                                                                                                      Making Choices

                                                                                                      Answer With a Production Possibilities Frontier

                                                                                                      Production Possibilities Frontier

                                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                      PPF Assumptions

                                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                      Production Possibilities Curve

                                                                                                      CD

                                                                                                      E

                                                                                                      OU

                                                                                                      TP

                                                                                                      UT

                                                                                                      OF

                                                                                                      CO

                                                                                                      NS

                                                                                                      UM

                                                                                                      ER

                                                                                                      GO

                                                                                                      OD

                                                                                                      S

                                                                                                      (un

                                                                                                      its

                                                                                                      per

                                                                                                      yea

                                                                                                      r)

                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                      A

                                                                                                      BO

                                                                                                      XF

                                                                                                      G

                                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                                      The Choices Nations Make

                                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                      bullProduce military goods or consumer goods

                                                                                                      Economic Growth

                                                                                                      2000 production possibilities

                                                                                                      1900 production possibilities

                                                                                                      OU

                                                                                                      TP

                                                                                                      UT

                                                                                                      OF

                                                                                                      CO

                                                                                                      NS

                                                                                                      UM

                                                                                                      ER

                                                                                                      GO

                                                                                                      OD

                                                                                                      S(u

                                                                                                      nits

                                                                                                      per

                                                                                                      yea

                                                                                                      r)

                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                      Production possibilities increases with more resources and technology

                                                                                                      The Classic Guns and Butter example

                                                                                                      Guns

                                                                                                      Butter

                                                                                                      10000 20000 30000 40000 50000

                                                                                                      1000009500085000

                                                                                                      70000

                                                                                                      5000040000

                                                                                                      BA

                                                                                                      C

                                                                                                      D

                                                                                                      E

                                                                                                      F

                                                                                                      At point A all resources are used for butter

                                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                      At point F all resources are used for Guns

                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                      choices are

                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                      Locations on a PPF

                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                      Food

                                                                                                      Computer

                                                                                                      4

                                                                                                      3

                                                                                                      2

                                                                                                      1

                                                                                                      1 2 3 4

                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                      Unit

                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                      additional computers

                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                      Principle of Increasing Costs

                                                                                                      As a society produces more of one product the OC of producing

                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                      Economic Systems

                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                      Jigsaw activity

                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                      bull Economic Freedom

                                                                                                      bull Economic Efficiency

                                                                                                      bull Economic Equity

                                                                                                      bull Economic Security

                                                                                                      Economic Stability

                                                                                                      Economic Growth

                                                                                                      Review of Economic Systems

                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                      What are the most important goals of each economic system

                                                                                                      bullTraditionalSecurity and

                                                                                                      StabilitybullCommand

                                                                                                      Equity and Security

                                                                                                      bullMARKETEfficiency and

                                                                                                      Freedom

                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                      Which economic system does the US use

                                                                                                      The American Economic System

                                                                                                      bullWe have a mixed market economy

                                                                                                      COMMAND MARKET

                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                      Think backhellip

                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                      2 Limited government

                                                                                                      3 Equal opportunity

                                                                                                      4 Competition

                                                                                                      5 Profit motive

                                                                                                      6 Property Rights

                                                                                                      7 Binding Contracts

                                                                                                      Understanding how all parts fit together

                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                      Shows interdependence between

                                                                                                      businesses and individuals

                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                      Do you remember

                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                      democracy and mixed economy

                                                                                                      • Foundations of Government and Economics
                                                                                                      • On your blank piece of paperhellip
                                                                                                      • Slide 3
                                                                                                      • Warm-Up 1 - 9414
                                                                                                      • Introductory thoughts hellip
                                                                                                      • Slide 6
                                                                                                      • 2 How about to your life
                                                                                                      • Slide 8
                                                                                                      • Slide 9
                                                                                                      • Slide 10
                                                                                                      • Slide 11
                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                      • Warm up 2bndash In Journal-
                                                                                                      • Economist and Politician Assumptions
                                                                                                      • Individualism
                                                                                                      • Quote activity
                                                                                                      • Quote breakdown
                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                      • Purpose of Government
                                                                                                      • Slide 20
                                                                                                      • 3 Theorists
                                                                                                      • Activity
                                                                                                      • Origins of American Government A customized government
                                                                                                      • Origins of American Government A customized government (2)
                                                                                                      • Origins of American Government A customized government (3)
                                                                                                      • With which theory do you agree more Why
                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                      • Groups Block 2
                                                                                                      • Groups Block 4
                                                                                                      • Balloon Game
                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                      • Balloon Game Debriefing
                                                                                                      • Political Theories
                                                                                                      • Social Contract
                                                                                                      • Natural Rights
                                                                                                      • Democracy
                                                                                                      • Concepts of Government
                                                                                                      • Warm up 6 ndash 91114
                                                                                                      • Warm Up 7
                                                                                                      • And after the Constitution
                                                                                                      • Activity (2)
                                                                                                      • Picture Activity
                                                                                                      • Constitutional Convention
                                                                                                      • Purpose of the Convention
                                                                                                      • VA Plan v NJ Plan
                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                      • Your Task
                                                                                                      • Closure
                                                                                                      • States agree
                                                                                                      • Quote
                                                                                                      • Structure of Constitution
                                                                                                      • Structure of Constitution
                                                                                                      • 6 Purpose of Government
                                                                                                      • Structure of Constitution (2)
                                                                                                      • Structure of Constitution (3)
                                                                                                      • Principles of Constitution
                                                                                                      • Activity
                                                                                                      • Slide 60
                                                                                                      • Check for Understanding Six Principles
                                                                                                      • Question 1
                                                                                                      • Question 2
                                                                                                      • Question 3
                                                                                                      • Question 4
                                                                                                      • Question 5
                                                                                                      • Question 6
                                                                                                      • Question 7
                                                                                                      • Question 8
                                                                                                      • Groups
                                                                                                      • Separation of Powers
                                                                                                      • Video
                                                                                                      • Checks and Balances
                                                                                                      • Slide 74
                                                                                                      • Checks and balances
                                                                                                      • Basic Principles
                                                                                                      • Self- Worth
                                                                                                      • Equality
                                                                                                      • Compromise
                                                                                                      • Individual Freedom
                                                                                                      • Write your ownhellip
                                                                                                      • Slide 82
                                                                                                      • TED Talk
                                                                                                      • Closure
                                                                                                      • What is Economics
                                                                                                      • Economics ishellip
                                                                                                      • Back to our assumptionshellip
                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                      • For the videohellip
                                                                                                      • Slide 90
                                                                                                      • Post Videohellip
                                                                                                      • Advertisement
                                                                                                      • Political Cartoon Analysis
                                                                                                      • Factors of Production
                                                                                                      • TASK
                                                                                                      • The price ofhellip
                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                      • 1 What to produce
                                                                                                      • 2 How to produce it
                                                                                                      • 3 For whom to produce it
                                                                                                      • Application Activity
                                                                                                      • EQs
                                                                                                      • Objectives amp Essential Questions
                                                                                                      • Group Activity Budget Activity
                                                                                                      • Slide 105
                                                                                                      • How do we satisfy our economic wants
                                                                                                      • How do we make goods amp services
                                                                                                      • Economic Interdependence
                                                                                                      • Slide 109
                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                      • Exampleshellip
                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                      • Opportunity Cost
                                                                                                      • What else influences your choices
                                                                                                      • Finallyhellip Why it Matters
                                                                                                      • Visualizing the Relationshiphellip
                                                                                                      • ObjectivesEssential Questions
                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                      • Production Possibilities Frontier
                                                                                                      • PPF Assumptions
                                                                                                      • Slide 121
                                                                                                      • Production Possibilities Curve
                                                                                                      • The Choices Nations Make
                                                                                                      • Economic Growth
                                                                                                      • The Classic Guns and Butter example
                                                                                                      • Productivity
                                                                                                      • Locations on a PPF
                                                                                                      • Slide 128
                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                      • Economic Systems
                                                                                                      • Jigsaw activity
                                                                                                      • Slide 132
                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                      • Review of Economic Systems
                                                                                                      • Slide 135
                                                                                                      • What are the most important goals of each economic system
                                                                                                      • Which economic system does the US use
                                                                                                      • The American Economic System
                                                                                                      • The US mixed economy
                                                                                                      • Slide 140
                                                                                                      • Think backhellip
                                                                                                      • US Economic System Characteristics
                                                                                                      • Slide 143
                                                                                                      • Understanding how all parts fit together
                                                                                                      • Marriage Vows
                                                                                                      • Do you remember
                                                                                                      • Slide 147

                                                                                                        Structure of Constitutionbull Provides basic

                                                                                                        framework for US government

                                                                                                        bull Outlines basic principles structure and processes

                                                                                                        bull Three partsmdashPreambleArticlesAmendments

                                                                                                        Structure of Constitution bull Preamble

                                                                                                        Introduction to the Constitution Lists ideas that the government should stand for

                                                                                                        and states purposes We the people of the United States in Order

                                                                                                        to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                                        6 Purpose of Government bull Form a More Perfect Union

                                                                                                        bull Establish Justice bull Insure Domestic Tranquility

                                                                                                        bull Provide for the Common Defense

                                                                                                        bull Promote the General Welfare

                                                                                                        bull Secure the Blessings of Liberty

                                                                                                        For each phrase consider the followinghellip

                                                                                                        1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                                        2 Is this phrase important today

                                                                                                        Structure of Constitution bullArticles

                                                                                                        Main body of the Constitution Lay out basic structure of the national

                                                                                                        governmentFurther broken down into sections and clauses

                                                                                                        Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                                        Clause oaths of office

                                                                                                        Article VII Ratification

                                                                                                        Structure of Constitution

                                                                                                        bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                                        Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                        bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                        Activity

                                                                                                        Activity bull STEP 1 bull Fill in the graphic

                                                                                                        organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                        bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                        Principle Explanation

                                                                                                        Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                        Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                        Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                        Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                        Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                        Federalism Divides the power between the central government and the States

                                                                                                        Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                        Question 1

                                                                                                        bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                        Popular Sovereignty

                                                                                                        Question 2

                                                                                                        bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                        Limited Government

                                                                                                        Question 3

                                                                                                        bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                        Limited Government

                                                                                                        Question 4

                                                                                                        bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                        SEPARATION OF POWERS

                                                                                                        Question 5

                                                                                                        bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                        Checks and Balances

                                                                                                        Question 6

                                                                                                        bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                        CHECKS AND BALANCES

                                                                                                        Question 7

                                                                                                        bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                        JUDICIAL REVIEW

                                                                                                        Question 8

                                                                                                        bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                        Federalism

                                                                                                        GroupsPopular

                                                                                                        SovereigntySeparation of

                                                                                                        PowersFederalism

                                                                                                        bull bull bull

                                                                                                        Judicial Review

                                                                                                        Limited Government

                                                                                                        Checks and Balances

                                                                                                        bull bull bull

                                                                                                        Separation of Powers

                                                                                                        bull Legislative branchmdashmakes the laws

                                                                                                        bull Executive branchmdashenforces the laws

                                                                                                        bull Judicial branchmdashinterprets the law

                                                                                                        Video

                                                                                                        bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                        Checks and Balances

                                                                                                        Checks and balances

                                                                                                        bullIn what was do the branches check on one another

                                                                                                        bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                        Basic Principles

                                                                                                        bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                        Self- Worth

                                                                                                        bull A recognition of the fundamental worth of every person

                                                                                                        bull The democratic process reflects the collective set of individuals who make up society

                                                                                                        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                        Compromise

                                                                                                        bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                        bullWhy is compromise important

                                                                                                        Individual Freedombull Right of the

                                                                                                        individual to be free as far as the freedom of all will allow

                                                                                                        bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                        Write your ownhellipbull Now that you know what the foundations of

                                                                                                        government arehellip Create your own Constitution (Or social contract)

                                                                                                        What do you think is important to include What do you think could be taken out

                                                                                                        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                        Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                        change it)

                                                                                                        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                        paper

                                                                                                        TED Talk

                                                                                                        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                        Closure

                                                                                                        bullExplain two principles of the constitution and how are they connected

                                                                                                        What is Economics

                                                                                                        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                        Important Parts of Economicsndash

                                                                                                        CHOICESSCARCITY

                                                                                                        Economics ishellip

                                                                                                        bullDependent upon assumptions

                                                                                                        bullDependent upon simplification of reality

                                                                                                        Back to our assumptionshellip

                                                                                                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                        bullAll sellers seek to maximize profits

                                                                                                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                        For the videohellip

                                                                                                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                        Post Videohellip

                                                                                                        bullDefine the main idea of the video in 4-5 words

                                                                                                        Advertisement

                                                                                                        bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                        3 images that represent different economic ideas

                                                                                                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                        1 slogan that represents why economics is an important course to take

                                                                                                        Political Cartoon Analysis

                                                                                                        Factors of Production bull LAND

                                                                                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                        soil minerals water and plants

                                                                                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                        into producing goodsservices

                                                                                                        bull CAPITAL Includes tools machines buildings and

                                                                                                        technologies

                                                                                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                        land labor and capital to produce goods and services

                                                                                                        TASK

                                                                                                        bullTask Why are entrepreneurs the driving force in our economy

                                                                                                        bullAnswer in 2-3 sentences

                                                                                                        The price ofhellip

                                                                                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                        Economic efficiency is achieved when all available resources are being used

                                                                                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                        1 What to produce

                                                                                                        bullShould it be military or civilian goods

                                                                                                        bullFood or clothingbullMedicine or movies

                                                                                                        2 How to produce it

                                                                                                        bullAutomated or manual labor

                                                                                                        bullExpensive or cheap materials

                                                                                                        bullDomestic or overseas labor

                                                                                                        3 For whom to produce it

                                                                                                        bullThe wealthy or the needybullThe sick or the healthy

                                                                                                        Application Activity

                                                                                                        bull In groups of 2-3 create your own country (name it please)

                                                                                                        bull With your countryrsquos name explain the Population geography and general population

                                                                                                        information (iehellipbull Choose 5 items for your country to produce and

                                                                                                        answer the three societal questions for eachALSO explain why this material would help your

                                                                                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                        withhellip Images representing what you produce and a

                                                                                                        slogan for why your country is awesome

                                                                                                        EQs

                                                                                                        bullHow does scarcity impact decision making

                                                                                                        Objectives amp Essential QuestionsbullObjectives

                                                                                                        I will be able to create and reflect on a budget given new economics content

                                                                                                        I will be able to understand scarcity and our mixed economy

                                                                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                        Group Activity Budget Activity

                                                                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                        How do we satisfy our economic wants

                                                                                                        bull We buy goods or services

                                                                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                        How do we make goods amp services

                                                                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                        Production Equation

                                                                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                        inputs output

                                                                                                        Economic Interdependence

                                                                                                        bullWhat does lsquointerdependencersquo mean

                                                                                                        bullIs our world becoming economic interdependent or independent

                                                                                                        bullEconomic Interdependence the actions of one part of the

                                                                                                        country (world) has an impact on what happens elsewhere

                                                                                                        Wants amp Needs gt

                                                                                                        Resources

                                                                                                        Because of scarcity we

                                                                                                        have to make choices

                                                                                                        How do we make a choice What do we give up

                                                                                                        What does this remind you of from our government unit

                                                                                                        Making Choices to Deal With Scarcity

                                                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                        decision over another

                                                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                        school today or should I sleep in

                                                                                                        Task Reflecting on Personal Trade-offshellip

                                                                                                        In the end what helped you decide amongst your choices

                                                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                        tradeoffs for that decision

                                                                                                        Be prepared to share

                                                                                                        Opportunity Cost

                                                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                                                        we want

                                                                                                        What else influences your choices

                                                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                        FinallyhellipWhy it Matters

                                                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                        better decision-maker

                                                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                        You always have to give something uphelliprdquo

                                                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                        decisions

                                                                                                        Visualizing the Relationshiphellip

                                                                                                        Limited Resources amp Unlimited Wants

                                                                                                        Scarcity

                                                                                                        Trade-offs (choices)

                                                                                                        Opportunity Costs

                                                                                                        ObjectivesEssential Questions

                                                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                                                        the three different types of economies

                                                                                                        bullEssential Question How do the different types of economies work

                                                                                                        How Can We Measure What We Gain and Lose When

                                                                                                        Making Choices

                                                                                                        Answer With a Production Possibilities Frontier

                                                                                                        Production Possibilities Frontier

                                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                        PPF Assumptions

                                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                        Production Possibilities Curve

                                                                                                        CD

                                                                                                        E

                                                                                                        OU

                                                                                                        TP

                                                                                                        UT

                                                                                                        OF

                                                                                                        CO

                                                                                                        NS

                                                                                                        UM

                                                                                                        ER

                                                                                                        GO

                                                                                                        OD

                                                                                                        S

                                                                                                        (un

                                                                                                        its

                                                                                                        per

                                                                                                        yea

                                                                                                        r)

                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                        A

                                                                                                        BO

                                                                                                        XF

                                                                                                        G

                                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                                        The Choices Nations Make

                                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                        bullProduce military goods or consumer goods

                                                                                                        Economic Growth

                                                                                                        2000 production possibilities

                                                                                                        1900 production possibilities

                                                                                                        OU

                                                                                                        TP

                                                                                                        UT

                                                                                                        OF

                                                                                                        CO

                                                                                                        NS

                                                                                                        UM

                                                                                                        ER

                                                                                                        GO

                                                                                                        OD

                                                                                                        S(u

                                                                                                        nits

                                                                                                        per

                                                                                                        yea

                                                                                                        r)

                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                        Production possibilities increases with more resources and technology

                                                                                                        The Classic Guns and Butter example

                                                                                                        Guns

                                                                                                        Butter

                                                                                                        10000 20000 30000 40000 50000

                                                                                                        1000009500085000

                                                                                                        70000

                                                                                                        5000040000

                                                                                                        BA

                                                                                                        C

                                                                                                        D

                                                                                                        E

                                                                                                        F

                                                                                                        At point A all resources are used for butter

                                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                        At point F all resources are used for Guns

                                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                                        choices are

                                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                        Locations on a PPF

                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                        Food

                                                                                                        Computer

                                                                                                        4

                                                                                                        3

                                                                                                        2

                                                                                                        1

                                                                                                        1 2 3 4

                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                        Unit

                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                        additional computers

                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                        Principle of Increasing Costs

                                                                                                        As a society produces more of one product the OC of producing

                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                        Economic Systems

                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                        Jigsaw activity

                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                        bull Economic Freedom

                                                                                                        bull Economic Efficiency

                                                                                                        bull Economic Equity

                                                                                                        bull Economic Security

                                                                                                        Economic Stability

                                                                                                        Economic Growth

                                                                                                        Review of Economic Systems

                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                        What are the most important goals of each economic system

                                                                                                        bullTraditionalSecurity and

                                                                                                        StabilitybullCommand

                                                                                                        Equity and Security

                                                                                                        bullMARKETEfficiency and

                                                                                                        Freedom

                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                        Which economic system does the US use

                                                                                                        The American Economic System

                                                                                                        bullWe have a mixed market economy

                                                                                                        COMMAND MARKET

                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                        Think backhellip

                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                        2 Limited government

                                                                                                        3 Equal opportunity

                                                                                                        4 Competition

                                                                                                        5 Profit motive

                                                                                                        6 Property Rights

                                                                                                        7 Binding Contracts

                                                                                                        Understanding how all parts fit together

                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                        Shows interdependence between

                                                                                                        businesses and individuals

                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                        Do you remember

                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                        democracy and mixed economy

                                                                                                        • Foundations of Government and Economics
                                                                                                        • On your blank piece of paperhellip
                                                                                                        • Slide 3
                                                                                                        • Warm-Up 1 - 9414
                                                                                                        • Introductory thoughts hellip
                                                                                                        • Slide 6
                                                                                                        • 2 How about to your life
                                                                                                        • Slide 8
                                                                                                        • Slide 9
                                                                                                        • Slide 10
                                                                                                        • Slide 11
                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                        • Warm up 2bndash In Journal-
                                                                                                        • Economist and Politician Assumptions
                                                                                                        • Individualism
                                                                                                        • Quote activity
                                                                                                        • Quote breakdown
                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                        • Purpose of Government
                                                                                                        • Slide 20
                                                                                                        • 3 Theorists
                                                                                                        • Activity
                                                                                                        • Origins of American Government A customized government
                                                                                                        • Origins of American Government A customized government (2)
                                                                                                        • Origins of American Government A customized government (3)
                                                                                                        • With which theory do you agree more Why
                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                        • Groups Block 2
                                                                                                        • Groups Block 4
                                                                                                        • Balloon Game
                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                        • Balloon Game Debriefing
                                                                                                        • Political Theories
                                                                                                        • Social Contract
                                                                                                        • Natural Rights
                                                                                                        • Democracy
                                                                                                        • Concepts of Government
                                                                                                        • Warm up 6 ndash 91114
                                                                                                        • Warm Up 7
                                                                                                        • And after the Constitution
                                                                                                        • Activity (2)
                                                                                                        • Picture Activity
                                                                                                        • Constitutional Convention
                                                                                                        • Purpose of the Convention
                                                                                                        • VA Plan v NJ Plan
                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                        • Your Task
                                                                                                        • Closure
                                                                                                        • States agree
                                                                                                        • Quote
                                                                                                        • Structure of Constitution
                                                                                                        • Structure of Constitution
                                                                                                        • 6 Purpose of Government
                                                                                                        • Structure of Constitution (2)
                                                                                                        • Structure of Constitution (3)
                                                                                                        • Principles of Constitution
                                                                                                        • Activity
                                                                                                        • Slide 60
                                                                                                        • Check for Understanding Six Principles
                                                                                                        • Question 1
                                                                                                        • Question 2
                                                                                                        • Question 3
                                                                                                        • Question 4
                                                                                                        • Question 5
                                                                                                        • Question 6
                                                                                                        • Question 7
                                                                                                        • Question 8
                                                                                                        • Groups
                                                                                                        • Separation of Powers
                                                                                                        • Video
                                                                                                        • Checks and Balances
                                                                                                        • Slide 74
                                                                                                        • Checks and balances
                                                                                                        • Basic Principles
                                                                                                        • Self- Worth
                                                                                                        • Equality
                                                                                                        • Compromise
                                                                                                        • Individual Freedom
                                                                                                        • Write your ownhellip
                                                                                                        • Slide 82
                                                                                                        • TED Talk
                                                                                                        • Closure
                                                                                                        • What is Economics
                                                                                                        • Economics ishellip
                                                                                                        • Back to our assumptionshellip
                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                        • For the videohellip
                                                                                                        • Slide 90
                                                                                                        • Post Videohellip
                                                                                                        • Advertisement
                                                                                                        • Political Cartoon Analysis
                                                                                                        • Factors of Production
                                                                                                        • TASK
                                                                                                        • The price ofhellip
                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                        • 1 What to produce
                                                                                                        • 2 How to produce it
                                                                                                        • 3 For whom to produce it
                                                                                                        • Application Activity
                                                                                                        • EQs
                                                                                                        • Objectives amp Essential Questions
                                                                                                        • Group Activity Budget Activity
                                                                                                        • Slide 105
                                                                                                        • How do we satisfy our economic wants
                                                                                                        • How do we make goods amp services
                                                                                                        • Economic Interdependence
                                                                                                        • Slide 109
                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                        • Exampleshellip
                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                        • Opportunity Cost
                                                                                                        • What else influences your choices
                                                                                                        • Finallyhellip Why it Matters
                                                                                                        • Visualizing the Relationshiphellip
                                                                                                        • ObjectivesEssential Questions
                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                        • Production Possibilities Frontier
                                                                                                        • PPF Assumptions
                                                                                                        • Slide 121
                                                                                                        • Production Possibilities Curve
                                                                                                        • The Choices Nations Make
                                                                                                        • Economic Growth
                                                                                                        • The Classic Guns and Butter example
                                                                                                        • Productivity
                                                                                                        • Locations on a PPF
                                                                                                        • Slide 128
                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                        • Economic Systems
                                                                                                        • Jigsaw activity
                                                                                                        • Slide 132
                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                        • Review of Economic Systems
                                                                                                        • Slide 135
                                                                                                        • What are the most important goals of each economic system
                                                                                                        • Which economic system does the US use
                                                                                                        • The American Economic System
                                                                                                        • The US mixed economy
                                                                                                        • Slide 140
                                                                                                        • Think backhellip
                                                                                                        • US Economic System Characteristics
                                                                                                        • Slide 143
                                                                                                        • Understanding how all parts fit together
                                                                                                        • Marriage Vows
                                                                                                        • Do you remember
                                                                                                        • Slide 147

                                                                                                          Structure of Constitution bull Preamble

                                                                                                          Introduction to the Constitution Lists ideas that the government should stand for

                                                                                                          and states purposes We the people of the United States in Order

                                                                                                          to form a more perfect Union establish Justice insure domestic Tranquility provide for the common defense promote the general Welfare and secure the Blessings of Liberty to ourselves and our Prosperity do ordain and establish this Constitution for the United States of Americardquo

                                                                                                          6 Purpose of Government bull Form a More Perfect Union

                                                                                                          bull Establish Justice bull Insure Domestic Tranquility

                                                                                                          bull Provide for the Common Defense

                                                                                                          bull Promote the General Welfare

                                                                                                          bull Secure the Blessings of Liberty

                                                                                                          For each phrase consider the followinghellip

                                                                                                          1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                                          2 Is this phrase important today

                                                                                                          Structure of Constitution bullArticles

                                                                                                          Main body of the Constitution Lay out basic structure of the national

                                                                                                          governmentFurther broken down into sections and clauses

                                                                                                          Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                                          Clause oaths of office

                                                                                                          Article VII Ratification

                                                                                                          Structure of Constitution

                                                                                                          bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                                          Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                          bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                          Activity

                                                                                                          Activity bull STEP 1 bull Fill in the graphic

                                                                                                          organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                          bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                          Principle Explanation

                                                                                                          Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                          Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                          Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                          Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                          Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                          Federalism Divides the power between the central government and the States

                                                                                                          Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                          Question 1

                                                                                                          bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                          Popular Sovereignty

                                                                                                          Question 2

                                                                                                          bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                          Limited Government

                                                                                                          Question 3

                                                                                                          bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                          Limited Government

                                                                                                          Question 4

                                                                                                          bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                          SEPARATION OF POWERS

                                                                                                          Question 5

                                                                                                          bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                          Checks and Balances

                                                                                                          Question 6

                                                                                                          bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                          CHECKS AND BALANCES

                                                                                                          Question 7

                                                                                                          bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                          JUDICIAL REVIEW

                                                                                                          Question 8

                                                                                                          bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                          Federalism

                                                                                                          GroupsPopular

                                                                                                          SovereigntySeparation of

                                                                                                          PowersFederalism

                                                                                                          bull bull bull

                                                                                                          Judicial Review

                                                                                                          Limited Government

                                                                                                          Checks and Balances

                                                                                                          bull bull bull

                                                                                                          Separation of Powers

                                                                                                          bull Legislative branchmdashmakes the laws

                                                                                                          bull Executive branchmdashenforces the laws

                                                                                                          bull Judicial branchmdashinterprets the law

                                                                                                          Video

                                                                                                          bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                          Checks and Balances

                                                                                                          Checks and balances

                                                                                                          bullIn what was do the branches check on one another

                                                                                                          bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                          Basic Principles

                                                                                                          bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                          Self- Worth

                                                                                                          bull A recognition of the fundamental worth of every person

                                                                                                          bull The democratic process reflects the collective set of individuals who make up society

                                                                                                          Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                          bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                          bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                          Compromise

                                                                                                          bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                          bullWhy is compromise important

                                                                                                          Individual Freedombull Right of the

                                                                                                          individual to be free as far as the freedom of all will allow

                                                                                                          bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                          Write your ownhellipbull Now that you know what the foundations of

                                                                                                          government arehellip Create your own Constitution (Or social contract)

                                                                                                          What do you think is important to include What do you think could be taken out

                                                                                                          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                          Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                          change it)

                                                                                                          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                          paper

                                                                                                          TED Talk

                                                                                                          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                          Closure

                                                                                                          bullExplain two principles of the constitution and how are they connected

                                                                                                          What is Economics

                                                                                                          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                          Important Parts of Economicsndash

                                                                                                          CHOICESSCARCITY

                                                                                                          Economics ishellip

                                                                                                          bullDependent upon assumptions

                                                                                                          bullDependent upon simplification of reality

                                                                                                          Back to our assumptionshellip

                                                                                                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                          bullAll sellers seek to maximize profits

                                                                                                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                          For the videohellip

                                                                                                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                          Post Videohellip

                                                                                                          bullDefine the main idea of the video in 4-5 words

                                                                                                          Advertisement

                                                                                                          bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                          3 images that represent different economic ideas

                                                                                                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                          1 slogan that represents why economics is an important course to take

                                                                                                          Political Cartoon Analysis

                                                                                                          Factors of Production bull LAND

                                                                                                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                          soil minerals water and plants

                                                                                                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                          into producing goodsservices

                                                                                                          bull CAPITAL Includes tools machines buildings and

                                                                                                          technologies

                                                                                                          bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                          land labor and capital to produce goods and services

                                                                                                          TASK

                                                                                                          bullTask Why are entrepreneurs the driving force in our economy

                                                                                                          bullAnswer in 2-3 sentences

                                                                                                          The price ofhellip

                                                                                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                          Economic efficiency is achieved when all available resources are being used

                                                                                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                          1 What to produce

                                                                                                          bullShould it be military or civilian goods

                                                                                                          bullFood or clothingbullMedicine or movies

                                                                                                          2 How to produce it

                                                                                                          bullAutomated or manual labor

                                                                                                          bullExpensive or cheap materials

                                                                                                          bullDomestic or overseas labor

                                                                                                          3 For whom to produce it

                                                                                                          bullThe wealthy or the needybullThe sick or the healthy

                                                                                                          Application Activity

                                                                                                          bull In groups of 2-3 create your own country (name it please)

                                                                                                          bull With your countryrsquos name explain the Population geography and general population

                                                                                                          information (iehellipbull Choose 5 items for your country to produce and

                                                                                                          answer the three societal questions for eachALSO explain why this material would help your

                                                                                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                          withhellip Images representing what you produce and a

                                                                                                          slogan for why your country is awesome

                                                                                                          EQs

                                                                                                          bullHow does scarcity impact decision making

                                                                                                          Objectives amp Essential QuestionsbullObjectives

                                                                                                          I will be able to create and reflect on a budget given new economics content

                                                                                                          I will be able to understand scarcity and our mixed economy

                                                                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                          Group Activity Budget Activity

                                                                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                          How do we satisfy our economic wants

                                                                                                          bull We buy goods or services

                                                                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                          How do we make goods amp services

                                                                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                          Production Equation

                                                                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                          inputs output

                                                                                                          Economic Interdependence

                                                                                                          bullWhat does lsquointerdependencersquo mean

                                                                                                          bullIs our world becoming economic interdependent or independent

                                                                                                          bullEconomic Interdependence the actions of one part of the

                                                                                                          country (world) has an impact on what happens elsewhere

                                                                                                          Wants amp Needs gt

                                                                                                          Resources

                                                                                                          Because of scarcity we

                                                                                                          have to make choices

                                                                                                          How do we make a choice What do we give up

                                                                                                          What does this remind you of from our government unit

                                                                                                          Making Choices to Deal With Scarcity

                                                                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                          decision over another

                                                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                          school today or should I sleep in

                                                                                                          Task Reflecting on Personal Trade-offshellip

                                                                                                          In the end what helped you decide amongst your choices

                                                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                          tradeoffs for that decision

                                                                                                          Be prepared to share

                                                                                                          Opportunity Cost

                                                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                                                          we want

                                                                                                          What else influences your choices

                                                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                          FinallyhellipWhy it Matters

                                                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                          better decision-maker

                                                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                          You always have to give something uphelliprdquo

                                                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                          decisions

                                                                                                          Visualizing the Relationshiphellip

                                                                                                          Limited Resources amp Unlimited Wants

                                                                                                          Scarcity

                                                                                                          Trade-offs (choices)

                                                                                                          Opportunity Costs

                                                                                                          ObjectivesEssential Questions

                                                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                                                          the three different types of economies

                                                                                                          bullEssential Question How do the different types of economies work

                                                                                                          How Can We Measure What We Gain and Lose When

                                                                                                          Making Choices

                                                                                                          Answer With a Production Possibilities Frontier

                                                                                                          Production Possibilities Frontier

                                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                          PPF Assumptions

                                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                          Production Possibilities Curve

                                                                                                          CD

                                                                                                          E

                                                                                                          OU

                                                                                                          TP

                                                                                                          UT

                                                                                                          OF

                                                                                                          CO

                                                                                                          NS

                                                                                                          UM

                                                                                                          ER

                                                                                                          GO

                                                                                                          OD

                                                                                                          S

                                                                                                          (un

                                                                                                          its

                                                                                                          per

                                                                                                          yea

                                                                                                          r)

                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                          A

                                                                                                          BO

                                                                                                          XF

                                                                                                          G

                                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                                          The Choices Nations Make

                                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                          bullProduce military goods or consumer goods

                                                                                                          Economic Growth

                                                                                                          2000 production possibilities

                                                                                                          1900 production possibilities

                                                                                                          OU

                                                                                                          TP

                                                                                                          UT

                                                                                                          OF

                                                                                                          CO

                                                                                                          NS

                                                                                                          UM

                                                                                                          ER

                                                                                                          GO

                                                                                                          OD

                                                                                                          S(u

                                                                                                          nits

                                                                                                          per

                                                                                                          yea

                                                                                                          r)

                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                          Production possibilities increases with more resources and technology

                                                                                                          The Classic Guns and Butter example

                                                                                                          Guns

                                                                                                          Butter

                                                                                                          10000 20000 30000 40000 50000

                                                                                                          1000009500085000

                                                                                                          70000

                                                                                                          5000040000

                                                                                                          BA

                                                                                                          C

                                                                                                          D

                                                                                                          E

                                                                                                          F

                                                                                                          At point A all resources are used for butter

                                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                          At point F all resources are used for Guns

                                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                                          choices are

                                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                          Locations on a PPF

                                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                          Food

                                                                                                          Computer

                                                                                                          4

                                                                                                          3

                                                                                                          2

                                                                                                          1

                                                                                                          1 2 3 4

                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                          Unit

                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                          additional computers

                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                          Principle of Increasing Costs

                                                                                                          As a society produces more of one product the OC of producing

                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                          Economic Systems

                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                          Jigsaw activity

                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                          bull Economic Freedom

                                                                                                          bull Economic Efficiency

                                                                                                          bull Economic Equity

                                                                                                          bull Economic Security

                                                                                                          Economic Stability

                                                                                                          Economic Growth

                                                                                                          Review of Economic Systems

                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                          What are the most important goals of each economic system

                                                                                                          bullTraditionalSecurity and

                                                                                                          StabilitybullCommand

                                                                                                          Equity and Security

                                                                                                          bullMARKETEfficiency and

                                                                                                          Freedom

                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                          Which economic system does the US use

                                                                                                          The American Economic System

                                                                                                          bullWe have a mixed market economy

                                                                                                          COMMAND MARKET

                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                          Think backhellip

                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                          2 Limited government

                                                                                                          3 Equal opportunity

                                                                                                          4 Competition

                                                                                                          5 Profit motive

                                                                                                          6 Property Rights

                                                                                                          7 Binding Contracts

                                                                                                          Understanding how all parts fit together

                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                          Shows interdependence between

                                                                                                          businesses and individuals

                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                          Do you remember

                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                          democracy and mixed economy

                                                                                                          • Foundations of Government and Economics
                                                                                                          • On your blank piece of paperhellip
                                                                                                          • Slide 3
                                                                                                          • Warm-Up 1 - 9414
                                                                                                          • Introductory thoughts hellip
                                                                                                          • Slide 6
                                                                                                          • 2 How about to your life
                                                                                                          • Slide 8
                                                                                                          • Slide 9
                                                                                                          • Slide 10
                                                                                                          • Slide 11
                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                          • Warm up 2bndash In Journal-
                                                                                                          • Economist and Politician Assumptions
                                                                                                          • Individualism
                                                                                                          • Quote activity
                                                                                                          • Quote breakdown
                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                          • Purpose of Government
                                                                                                          • Slide 20
                                                                                                          • 3 Theorists
                                                                                                          • Activity
                                                                                                          • Origins of American Government A customized government
                                                                                                          • Origins of American Government A customized government (2)
                                                                                                          • Origins of American Government A customized government (3)
                                                                                                          • With which theory do you agree more Why
                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                          • Groups Block 2
                                                                                                          • Groups Block 4
                                                                                                          • Balloon Game
                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                          • Balloon Game Debriefing
                                                                                                          • Political Theories
                                                                                                          • Social Contract
                                                                                                          • Natural Rights
                                                                                                          • Democracy
                                                                                                          • Concepts of Government
                                                                                                          • Warm up 6 ndash 91114
                                                                                                          • Warm Up 7
                                                                                                          • And after the Constitution
                                                                                                          • Activity (2)
                                                                                                          • Picture Activity
                                                                                                          • Constitutional Convention
                                                                                                          • Purpose of the Convention
                                                                                                          • VA Plan v NJ Plan
                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                          • Your Task
                                                                                                          • Closure
                                                                                                          • States agree
                                                                                                          • Quote
                                                                                                          • Structure of Constitution
                                                                                                          • Structure of Constitution
                                                                                                          • 6 Purpose of Government
                                                                                                          • Structure of Constitution (2)
                                                                                                          • Structure of Constitution (3)
                                                                                                          • Principles of Constitution
                                                                                                          • Activity
                                                                                                          • Slide 60
                                                                                                          • Check for Understanding Six Principles
                                                                                                          • Question 1
                                                                                                          • Question 2
                                                                                                          • Question 3
                                                                                                          • Question 4
                                                                                                          • Question 5
                                                                                                          • Question 6
                                                                                                          • Question 7
                                                                                                          • Question 8
                                                                                                          • Groups
                                                                                                          • Separation of Powers
                                                                                                          • Video
                                                                                                          • Checks and Balances
                                                                                                          • Slide 74
                                                                                                          • Checks and balances
                                                                                                          • Basic Principles
                                                                                                          • Self- Worth
                                                                                                          • Equality
                                                                                                          • Compromise
                                                                                                          • Individual Freedom
                                                                                                          • Write your ownhellip
                                                                                                          • Slide 82
                                                                                                          • TED Talk
                                                                                                          • Closure
                                                                                                          • What is Economics
                                                                                                          • Economics ishellip
                                                                                                          • Back to our assumptionshellip
                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                          • For the videohellip
                                                                                                          • Slide 90
                                                                                                          • Post Videohellip
                                                                                                          • Advertisement
                                                                                                          • Political Cartoon Analysis
                                                                                                          • Factors of Production
                                                                                                          • TASK
                                                                                                          • The price ofhellip
                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                          • 1 What to produce
                                                                                                          • 2 How to produce it
                                                                                                          • 3 For whom to produce it
                                                                                                          • Application Activity
                                                                                                          • EQs
                                                                                                          • Objectives amp Essential Questions
                                                                                                          • Group Activity Budget Activity
                                                                                                          • Slide 105
                                                                                                          • How do we satisfy our economic wants
                                                                                                          • How do we make goods amp services
                                                                                                          • Economic Interdependence
                                                                                                          • Slide 109
                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                          • Exampleshellip
                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                          • Opportunity Cost
                                                                                                          • What else influences your choices
                                                                                                          • Finallyhellip Why it Matters
                                                                                                          • Visualizing the Relationshiphellip
                                                                                                          • ObjectivesEssential Questions
                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                          • Production Possibilities Frontier
                                                                                                          • PPF Assumptions
                                                                                                          • Slide 121
                                                                                                          • Production Possibilities Curve
                                                                                                          • The Choices Nations Make
                                                                                                          • Economic Growth
                                                                                                          • The Classic Guns and Butter example
                                                                                                          • Productivity
                                                                                                          • Locations on a PPF
                                                                                                          • Slide 128
                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                          • Economic Systems
                                                                                                          • Jigsaw activity
                                                                                                          • Slide 132
                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                          • Review of Economic Systems
                                                                                                          • Slide 135
                                                                                                          • What are the most important goals of each economic system
                                                                                                          • Which economic system does the US use
                                                                                                          • The American Economic System
                                                                                                          • The US mixed economy
                                                                                                          • Slide 140
                                                                                                          • Think backhellip
                                                                                                          • US Economic System Characteristics
                                                                                                          • Slide 143
                                                                                                          • Understanding how all parts fit together
                                                                                                          • Marriage Vows
                                                                                                          • Do you remember
                                                                                                          • Slide 147

                                                                                                            6 Purpose of Government bull Form a More Perfect Union

                                                                                                            bull Establish Justice bull Insure Domestic Tranquility

                                                                                                            bull Provide for the Common Defense

                                                                                                            bull Promote the General Welfare

                                                                                                            bull Secure the Blessings of Liberty

                                                                                                            For each phrase consider the followinghellip

                                                                                                            1 Why do you think the Framerrsquos put this phrase in the US Constitution

                                                                                                            2 Is this phrase important today

                                                                                                            Structure of Constitution bullArticles

                                                                                                            Main body of the Constitution Lay out basic structure of the national

                                                                                                            governmentFurther broken down into sections and clauses

                                                                                                            Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                                            Clause oaths of office

                                                                                                            Article VII Ratification

                                                                                                            Structure of Constitution

                                                                                                            bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                                            Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                            bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                            Activity

                                                                                                            Activity bull STEP 1 bull Fill in the graphic

                                                                                                            organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                            bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                            Principle Explanation

                                                                                                            Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                            Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                            Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                            Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                            Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                            Federalism Divides the power between the central government and the States

                                                                                                            Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                            Question 1

                                                                                                            bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                            Popular Sovereignty

                                                                                                            Question 2

                                                                                                            bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                            Limited Government

                                                                                                            Question 3

                                                                                                            bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                            Limited Government

                                                                                                            Question 4

                                                                                                            bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                            SEPARATION OF POWERS

                                                                                                            Question 5

                                                                                                            bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                            Checks and Balances

                                                                                                            Question 6

                                                                                                            bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                            CHECKS AND BALANCES

                                                                                                            Question 7

                                                                                                            bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                            JUDICIAL REVIEW

                                                                                                            Question 8

                                                                                                            bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                            Federalism

                                                                                                            GroupsPopular

                                                                                                            SovereigntySeparation of

                                                                                                            PowersFederalism

                                                                                                            bull bull bull

                                                                                                            Judicial Review

                                                                                                            Limited Government

                                                                                                            Checks and Balances

                                                                                                            bull bull bull

                                                                                                            Separation of Powers

                                                                                                            bull Legislative branchmdashmakes the laws

                                                                                                            bull Executive branchmdashenforces the laws

                                                                                                            bull Judicial branchmdashinterprets the law

                                                                                                            Video

                                                                                                            bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                            Checks and Balances

                                                                                                            Checks and balances

                                                                                                            bullIn what was do the branches check on one another

                                                                                                            bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                            Basic Principles

                                                                                                            bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                            Self- Worth

                                                                                                            bull A recognition of the fundamental worth of every person

                                                                                                            bull The democratic process reflects the collective set of individuals who make up society

                                                                                                            Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                            bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                            bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                            Compromise

                                                                                                            bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                            bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                            bullWhy is compromise important

                                                                                                            Individual Freedombull Right of the

                                                                                                            individual to be free as far as the freedom of all will allow

                                                                                                            bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                            Write your ownhellipbull Now that you know what the foundations of

                                                                                                            government arehellip Create your own Constitution (Or social contract)

                                                                                                            What do you think is important to include What do you think could be taken out

                                                                                                            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                            Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                            change it)

                                                                                                            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                            paper

                                                                                                            TED Talk

                                                                                                            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                            Closure

                                                                                                            bullExplain two principles of the constitution and how are they connected

                                                                                                            What is Economics

                                                                                                            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                            Important Parts of Economicsndash

                                                                                                            CHOICESSCARCITY

                                                                                                            Economics ishellip

                                                                                                            bullDependent upon assumptions

                                                                                                            bullDependent upon simplification of reality

                                                                                                            Back to our assumptionshellip

                                                                                                            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                            bullAll sellers seek to maximize profits

                                                                                                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                            For the videohellip

                                                                                                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                            Post Videohellip

                                                                                                            bullDefine the main idea of the video in 4-5 words

                                                                                                            Advertisement

                                                                                                            bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                            3 images that represent different economic ideas

                                                                                                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                            1 slogan that represents why economics is an important course to take

                                                                                                            Political Cartoon Analysis

                                                                                                            Factors of Production bull LAND

                                                                                                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                            soil minerals water and plants

                                                                                                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                            into producing goodsservices

                                                                                                            bull CAPITAL Includes tools machines buildings and

                                                                                                            technologies

                                                                                                            bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                            land labor and capital to produce goods and services

                                                                                                            TASK

                                                                                                            bullTask Why are entrepreneurs the driving force in our economy

                                                                                                            bullAnswer in 2-3 sentences

                                                                                                            The price ofhellip

                                                                                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                            Economic efficiency is achieved when all available resources are being used

                                                                                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                            1 What to produce

                                                                                                            bullShould it be military or civilian goods

                                                                                                            bullFood or clothingbullMedicine or movies

                                                                                                            2 How to produce it

                                                                                                            bullAutomated or manual labor

                                                                                                            bullExpensive or cheap materials

                                                                                                            bullDomestic or overseas labor

                                                                                                            3 For whom to produce it

                                                                                                            bullThe wealthy or the needybullThe sick or the healthy

                                                                                                            Application Activity

                                                                                                            bull In groups of 2-3 create your own country (name it please)

                                                                                                            bull With your countryrsquos name explain the Population geography and general population

                                                                                                            information (iehellipbull Choose 5 items for your country to produce and

                                                                                                            answer the three societal questions for eachALSO explain why this material would help your

                                                                                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                            withhellip Images representing what you produce and a

                                                                                                            slogan for why your country is awesome

                                                                                                            EQs

                                                                                                            bullHow does scarcity impact decision making

                                                                                                            Objectives amp Essential QuestionsbullObjectives

                                                                                                            I will be able to create and reflect on a budget given new economics content

                                                                                                            I will be able to understand scarcity and our mixed economy

                                                                                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                            Group Activity Budget Activity

                                                                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                            How do we satisfy our economic wants

                                                                                                            bull We buy goods or services

                                                                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                            How do we make goods amp services

                                                                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                            Production Equation

                                                                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                            inputs output

                                                                                                            Economic Interdependence

                                                                                                            bullWhat does lsquointerdependencersquo mean

                                                                                                            bullIs our world becoming economic interdependent or independent

                                                                                                            bullEconomic Interdependence the actions of one part of the

                                                                                                            country (world) has an impact on what happens elsewhere

                                                                                                            Wants amp Needs gt

                                                                                                            Resources

                                                                                                            Because of scarcity we

                                                                                                            have to make choices

                                                                                                            How do we make a choice What do we give up

                                                                                                            What does this remind you of from our government unit

                                                                                                            Making Choices to Deal With Scarcity

                                                                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                            decision over another

                                                                                                            ExampleshellipbullSome choices are easy to makehellip

                                                                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                            school today or should I sleep in

                                                                                                            Task Reflecting on Personal Trade-offshellip

                                                                                                            In the end what helped you decide amongst your choices

                                                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                            tradeoffs for that decision

                                                                                                            Be prepared to share

                                                                                                            Opportunity Cost

                                                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                                                            we want

                                                                                                            What else influences your choices

                                                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                            FinallyhellipWhy it Matters

                                                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                            better decision-maker

                                                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                            You always have to give something uphelliprdquo

                                                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                            decisions

                                                                                                            Visualizing the Relationshiphellip

                                                                                                            Limited Resources amp Unlimited Wants

                                                                                                            Scarcity

                                                                                                            Trade-offs (choices)

                                                                                                            Opportunity Costs

                                                                                                            ObjectivesEssential Questions

                                                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                                                            the three different types of economies

                                                                                                            bullEssential Question How do the different types of economies work

                                                                                                            How Can We Measure What We Gain and Lose When

                                                                                                            Making Choices

                                                                                                            Answer With a Production Possibilities Frontier

                                                                                                            Production Possibilities Frontier

                                                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                            PPF Assumptions

                                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                            Production Possibilities Curve

                                                                                                            CD

                                                                                                            E

                                                                                                            OU

                                                                                                            TP

                                                                                                            UT

                                                                                                            OF

                                                                                                            CO

                                                                                                            NS

                                                                                                            UM

                                                                                                            ER

                                                                                                            GO

                                                                                                            OD

                                                                                                            S

                                                                                                            (un

                                                                                                            its

                                                                                                            per

                                                                                                            yea

                                                                                                            r)

                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                            A

                                                                                                            BO

                                                                                                            XF

                                                                                                            G

                                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                                            The Choices Nations Make

                                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                            bullProduce military goods or consumer goods

                                                                                                            Economic Growth

                                                                                                            2000 production possibilities

                                                                                                            1900 production possibilities

                                                                                                            OU

                                                                                                            TP

                                                                                                            UT

                                                                                                            OF

                                                                                                            CO

                                                                                                            NS

                                                                                                            UM

                                                                                                            ER

                                                                                                            GO

                                                                                                            OD

                                                                                                            S(u

                                                                                                            nits

                                                                                                            per

                                                                                                            yea

                                                                                                            r)

                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                            Production possibilities increases with more resources and technology

                                                                                                            The Classic Guns and Butter example

                                                                                                            Guns

                                                                                                            Butter

                                                                                                            10000 20000 30000 40000 50000

                                                                                                            1000009500085000

                                                                                                            70000

                                                                                                            5000040000

                                                                                                            BA

                                                                                                            C

                                                                                                            D

                                                                                                            E

                                                                                                            F

                                                                                                            At point A all resources are used for butter

                                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                            At point F all resources are used for Guns

                                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                                            choices are

                                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                            Locations on a PPF

                                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                            Food

                                                                                                            Computer

                                                                                                            4

                                                                                                            3

                                                                                                            2

                                                                                                            1

                                                                                                            1 2 3 4

                                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                                            Unit

                                                                                                            Constantly giving up the same quantity of food to get

                                                                                                            additional computers

                                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                            Principle of Increasing Costs

                                                                                                            As a society produces more of one product the OC of producing

                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                            Economic Systems

                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                            Jigsaw activity

                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                            bull Economic Freedom

                                                                                                            bull Economic Efficiency

                                                                                                            bull Economic Equity

                                                                                                            bull Economic Security

                                                                                                            Economic Stability

                                                                                                            Economic Growth

                                                                                                            Review of Economic Systems

                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                            What are the most important goals of each economic system

                                                                                                            bullTraditionalSecurity and

                                                                                                            StabilitybullCommand

                                                                                                            Equity and Security

                                                                                                            bullMARKETEfficiency and

                                                                                                            Freedom

                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                            Which economic system does the US use

                                                                                                            The American Economic System

                                                                                                            bullWe have a mixed market economy

                                                                                                            COMMAND MARKET

                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                            Think backhellip

                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                            2 Limited government

                                                                                                            3 Equal opportunity

                                                                                                            4 Competition

                                                                                                            5 Profit motive

                                                                                                            6 Property Rights

                                                                                                            7 Binding Contracts

                                                                                                            Understanding how all parts fit together

                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                            Shows interdependence between

                                                                                                            businesses and individuals

                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                            Do you remember

                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                            democracy and mixed economy

                                                                                                            • Foundations of Government and Economics
                                                                                                            • On your blank piece of paperhellip
                                                                                                            • Slide 3
                                                                                                            • Warm-Up 1 - 9414
                                                                                                            • Introductory thoughts hellip
                                                                                                            • Slide 6
                                                                                                            • 2 How about to your life
                                                                                                            • Slide 8
                                                                                                            • Slide 9
                                                                                                            • Slide 10
                                                                                                            • Slide 11
                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                            • Warm up 2bndash In Journal-
                                                                                                            • Economist and Politician Assumptions
                                                                                                            • Individualism
                                                                                                            • Quote activity
                                                                                                            • Quote breakdown
                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                            • Purpose of Government
                                                                                                            • Slide 20
                                                                                                            • 3 Theorists
                                                                                                            • Activity
                                                                                                            • Origins of American Government A customized government
                                                                                                            • Origins of American Government A customized government (2)
                                                                                                            • Origins of American Government A customized government (3)
                                                                                                            • With which theory do you agree more Why
                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                            • Groups Block 2
                                                                                                            • Groups Block 4
                                                                                                            • Balloon Game
                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                            • Balloon Game Debriefing
                                                                                                            • Political Theories
                                                                                                            • Social Contract
                                                                                                            • Natural Rights
                                                                                                            • Democracy
                                                                                                            • Concepts of Government
                                                                                                            • Warm up 6 ndash 91114
                                                                                                            • Warm Up 7
                                                                                                            • And after the Constitution
                                                                                                            • Activity (2)
                                                                                                            • Picture Activity
                                                                                                            • Constitutional Convention
                                                                                                            • Purpose of the Convention
                                                                                                            • VA Plan v NJ Plan
                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                            • Your Task
                                                                                                            • Closure
                                                                                                            • States agree
                                                                                                            • Quote
                                                                                                            • Structure of Constitution
                                                                                                            • Structure of Constitution
                                                                                                            • 6 Purpose of Government
                                                                                                            • Structure of Constitution (2)
                                                                                                            • Structure of Constitution (3)
                                                                                                            • Principles of Constitution
                                                                                                            • Activity
                                                                                                            • Slide 60
                                                                                                            • Check for Understanding Six Principles
                                                                                                            • Question 1
                                                                                                            • Question 2
                                                                                                            • Question 3
                                                                                                            • Question 4
                                                                                                            • Question 5
                                                                                                            • Question 6
                                                                                                            • Question 7
                                                                                                            • Question 8
                                                                                                            • Groups
                                                                                                            • Separation of Powers
                                                                                                            • Video
                                                                                                            • Checks and Balances
                                                                                                            • Slide 74
                                                                                                            • Checks and balances
                                                                                                            • Basic Principles
                                                                                                            • Self- Worth
                                                                                                            • Equality
                                                                                                            • Compromise
                                                                                                            • Individual Freedom
                                                                                                            • Write your ownhellip
                                                                                                            • Slide 82
                                                                                                            • TED Talk
                                                                                                            • Closure
                                                                                                            • What is Economics
                                                                                                            • Economics ishellip
                                                                                                            • Back to our assumptionshellip
                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                            • For the videohellip
                                                                                                            • Slide 90
                                                                                                            • Post Videohellip
                                                                                                            • Advertisement
                                                                                                            • Political Cartoon Analysis
                                                                                                            • Factors of Production
                                                                                                            • TASK
                                                                                                            • The price ofhellip
                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                            • 1 What to produce
                                                                                                            • 2 How to produce it
                                                                                                            • 3 For whom to produce it
                                                                                                            • Application Activity
                                                                                                            • EQs
                                                                                                            • Objectives amp Essential Questions
                                                                                                            • Group Activity Budget Activity
                                                                                                            • Slide 105
                                                                                                            • How do we satisfy our economic wants
                                                                                                            • How do we make goods amp services
                                                                                                            • Economic Interdependence
                                                                                                            • Slide 109
                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                            • Exampleshellip
                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                            • Opportunity Cost
                                                                                                            • What else influences your choices
                                                                                                            • Finallyhellip Why it Matters
                                                                                                            • Visualizing the Relationshiphellip
                                                                                                            • ObjectivesEssential Questions
                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                            • Production Possibilities Frontier
                                                                                                            • PPF Assumptions
                                                                                                            • Slide 121
                                                                                                            • Production Possibilities Curve
                                                                                                            • The Choices Nations Make
                                                                                                            • Economic Growth
                                                                                                            • The Classic Guns and Butter example
                                                                                                            • Productivity
                                                                                                            • Locations on a PPF
                                                                                                            • Slide 128
                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                            • Economic Systems
                                                                                                            • Jigsaw activity
                                                                                                            • Slide 132
                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                            • Review of Economic Systems
                                                                                                            • Slide 135
                                                                                                            • What are the most important goals of each economic system
                                                                                                            • Which economic system does the US use
                                                                                                            • The American Economic System
                                                                                                            • The US mixed economy
                                                                                                            • Slide 140
                                                                                                            • Think backhellip
                                                                                                            • US Economic System Characteristics
                                                                                                            • Slide 143
                                                                                                            • Understanding how all parts fit together
                                                                                                            • Marriage Vows
                                                                                                            • Do you remember
                                                                                                            • Slide 147

                                                                                                              Structure of Constitution bullArticles

                                                                                                              Main body of the Constitution Lay out basic structure of the national

                                                                                                              governmentFurther broken down into sections and clauses

                                                                                                              Article I Legislative branch Article II Executive branch Article III Judicial branch Articles IV Relations among the states Article V Amendment process Article VI Payment of debts Supremacy

                                                                                                              Clause oaths of office

                                                                                                              Article VII Ratification

                                                                                                              Structure of Constitution

                                                                                                              bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                                              Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                              bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                              Activity

                                                                                                              Activity bull STEP 1 bull Fill in the graphic

                                                                                                              organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                              bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                              Principle Explanation

                                                                                                              Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                              Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                              Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                              Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                              Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                              Federalism Divides the power between the central government and the States

                                                                                                              Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                              Question 1

                                                                                                              bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                              Popular Sovereignty

                                                                                                              Question 2

                                                                                                              bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                              Limited Government

                                                                                                              Question 3

                                                                                                              bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                              Limited Government

                                                                                                              Question 4

                                                                                                              bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                              SEPARATION OF POWERS

                                                                                                              Question 5

                                                                                                              bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                              Checks and Balances

                                                                                                              Question 6

                                                                                                              bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                              CHECKS AND BALANCES

                                                                                                              Question 7

                                                                                                              bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                              JUDICIAL REVIEW

                                                                                                              Question 8

                                                                                                              bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                              Federalism

                                                                                                              GroupsPopular

                                                                                                              SovereigntySeparation of

                                                                                                              PowersFederalism

                                                                                                              bull bull bull

                                                                                                              Judicial Review

                                                                                                              Limited Government

                                                                                                              Checks and Balances

                                                                                                              bull bull bull

                                                                                                              Separation of Powers

                                                                                                              bull Legislative branchmdashmakes the laws

                                                                                                              bull Executive branchmdashenforces the laws

                                                                                                              bull Judicial branchmdashinterprets the law

                                                                                                              Video

                                                                                                              bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                              Checks and Balances

                                                                                                              Checks and balances

                                                                                                              bullIn what was do the branches check on one another

                                                                                                              bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                              Basic Principles

                                                                                                              bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                              Self- Worth

                                                                                                              bull A recognition of the fundamental worth of every person

                                                                                                              bull The democratic process reflects the collective set of individuals who make up society

                                                                                                              Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                              bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                              bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                              Compromise

                                                                                                              bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                              bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                              bullWhy is compromise important

                                                                                                              Individual Freedombull Right of the

                                                                                                              individual to be free as far as the freedom of all will allow

                                                                                                              bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                              Write your ownhellipbull Now that you know what the foundations of

                                                                                                              government arehellip Create your own Constitution (Or social contract)

                                                                                                              What do you think is important to include What do you think could be taken out

                                                                                                              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                              Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                              change it)

                                                                                                              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                              paper

                                                                                                              TED Talk

                                                                                                              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                              Closure

                                                                                                              bullExplain two principles of the constitution and how are they connected

                                                                                                              What is Economics

                                                                                                              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                              Important Parts of Economicsndash

                                                                                                              CHOICESSCARCITY

                                                                                                              Economics ishellip

                                                                                                              bullDependent upon assumptions

                                                                                                              bullDependent upon simplification of reality

                                                                                                              Back to our assumptionshellip

                                                                                                              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                              bullAll sellers seek to maximize profits

                                                                                                              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                              For the videohellip

                                                                                                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                              Post Videohellip

                                                                                                              bullDefine the main idea of the video in 4-5 words

                                                                                                              Advertisement

                                                                                                              bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                              3 images that represent different economic ideas

                                                                                                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                              1 slogan that represents why economics is an important course to take

                                                                                                              Political Cartoon Analysis

                                                                                                              Factors of Production bull LAND

                                                                                                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                              soil minerals water and plants

                                                                                                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                              into producing goodsservices

                                                                                                              bull CAPITAL Includes tools machines buildings and

                                                                                                              technologies

                                                                                                              bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                              land labor and capital to produce goods and services

                                                                                                              TASK

                                                                                                              bullTask Why are entrepreneurs the driving force in our economy

                                                                                                              bullAnswer in 2-3 sentences

                                                                                                              The price ofhellip

                                                                                                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                              Economic efficiency is achieved when all available resources are being used

                                                                                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                              1 What to produce

                                                                                                              bullShould it be military or civilian goods

                                                                                                              bullFood or clothingbullMedicine or movies

                                                                                                              2 How to produce it

                                                                                                              bullAutomated or manual labor

                                                                                                              bullExpensive or cheap materials

                                                                                                              bullDomestic or overseas labor

                                                                                                              3 For whom to produce it

                                                                                                              bullThe wealthy or the needybullThe sick or the healthy

                                                                                                              Application Activity

                                                                                                              bull In groups of 2-3 create your own country (name it please)

                                                                                                              bull With your countryrsquos name explain the Population geography and general population

                                                                                                              information (iehellipbull Choose 5 items for your country to produce and

                                                                                                              answer the three societal questions for eachALSO explain why this material would help your

                                                                                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                              withhellip Images representing what you produce and a

                                                                                                              slogan for why your country is awesome

                                                                                                              EQs

                                                                                                              bullHow does scarcity impact decision making

                                                                                                              Objectives amp Essential QuestionsbullObjectives

                                                                                                              I will be able to create and reflect on a budget given new economics content

                                                                                                              I will be able to understand scarcity and our mixed economy

                                                                                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                              Group Activity Budget Activity

                                                                                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                              How do we satisfy our economic wants

                                                                                                              bull We buy goods or services

                                                                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                              How do we make goods amp services

                                                                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                              Production Equation

                                                                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                              inputs output

                                                                                                              Economic Interdependence

                                                                                                              bullWhat does lsquointerdependencersquo mean

                                                                                                              bullIs our world becoming economic interdependent or independent

                                                                                                              bullEconomic Interdependence the actions of one part of the

                                                                                                              country (world) has an impact on what happens elsewhere

                                                                                                              Wants amp Needs gt

                                                                                                              Resources

                                                                                                              Because of scarcity we

                                                                                                              have to make choices

                                                                                                              How do we make a choice What do we give up

                                                                                                              What does this remind you of from our government unit

                                                                                                              Making Choices to Deal With Scarcity

                                                                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                              decision over another

                                                                                                              ExampleshellipbullSome choices are easy to makehellip

                                                                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                              school today or should I sleep in

                                                                                                              Task Reflecting on Personal Trade-offshellip

                                                                                                              In the end what helped you decide amongst your choices

                                                                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                              tradeoffs for that decision

                                                                                                              Be prepared to share

                                                                                                              Opportunity Cost

                                                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                                                              we want

                                                                                                              What else influences your choices

                                                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                              FinallyhellipWhy it Matters

                                                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                              better decision-maker

                                                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                              You always have to give something uphelliprdquo

                                                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                              decisions

                                                                                                              Visualizing the Relationshiphellip

                                                                                                              Limited Resources amp Unlimited Wants

                                                                                                              Scarcity

                                                                                                              Trade-offs (choices)

                                                                                                              Opportunity Costs

                                                                                                              ObjectivesEssential Questions

                                                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                                                              the three different types of economies

                                                                                                              bullEssential Question How do the different types of economies work

                                                                                                              How Can We Measure What We Gain and Lose When

                                                                                                              Making Choices

                                                                                                              Answer With a Production Possibilities Frontier

                                                                                                              Production Possibilities Frontier

                                                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                              PPF Assumptions

                                                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                              Production Possibilities Curve

                                                                                                              CD

                                                                                                              E

                                                                                                              OU

                                                                                                              TP

                                                                                                              UT

                                                                                                              OF

                                                                                                              CO

                                                                                                              NS

                                                                                                              UM

                                                                                                              ER

                                                                                                              GO

                                                                                                              OD

                                                                                                              S

                                                                                                              (un

                                                                                                              its

                                                                                                              per

                                                                                                              yea

                                                                                                              r)

                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                              A

                                                                                                              BO

                                                                                                              XF

                                                                                                              G

                                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                                              The Choices Nations Make

                                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                              bullProduce military goods or consumer goods

                                                                                                              Economic Growth

                                                                                                              2000 production possibilities

                                                                                                              1900 production possibilities

                                                                                                              OU

                                                                                                              TP

                                                                                                              UT

                                                                                                              OF

                                                                                                              CO

                                                                                                              NS

                                                                                                              UM

                                                                                                              ER

                                                                                                              GO

                                                                                                              OD

                                                                                                              S(u

                                                                                                              nits

                                                                                                              per

                                                                                                              yea

                                                                                                              r)

                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                              Production possibilities increases with more resources and technology

                                                                                                              The Classic Guns and Butter example

                                                                                                              Guns

                                                                                                              Butter

                                                                                                              10000 20000 30000 40000 50000

                                                                                                              1000009500085000

                                                                                                              70000

                                                                                                              5000040000

                                                                                                              BA

                                                                                                              C

                                                                                                              D

                                                                                                              E

                                                                                                              F

                                                                                                              At point A all resources are used for butter

                                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                              At point F all resources are used for Guns

                                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                                              choices are

                                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                              Locations on a PPF

                                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                              Food

                                                                                                              Computer

                                                                                                              4

                                                                                                              3

                                                                                                              2

                                                                                                              1

                                                                                                              1 2 3 4

                                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                                              Unit

                                                                                                              Constantly giving up the same quantity of food to get

                                                                                                              additional computers

                                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                              Principle of Increasing Costs

                                                                                                              As a society produces more of one product the OC of producing

                                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                                              Economic Systems

                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                              Jigsaw activity

                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                              bull Economic Freedom

                                                                                                              bull Economic Efficiency

                                                                                                              bull Economic Equity

                                                                                                              bull Economic Security

                                                                                                              Economic Stability

                                                                                                              Economic Growth

                                                                                                              Review of Economic Systems

                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                              What are the most important goals of each economic system

                                                                                                              bullTraditionalSecurity and

                                                                                                              StabilitybullCommand

                                                                                                              Equity and Security

                                                                                                              bullMARKETEfficiency and

                                                                                                              Freedom

                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                              Which economic system does the US use

                                                                                                              The American Economic System

                                                                                                              bullWe have a mixed market economy

                                                                                                              COMMAND MARKET

                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                              Think backhellip

                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                              2 Limited government

                                                                                                              3 Equal opportunity

                                                                                                              4 Competition

                                                                                                              5 Profit motive

                                                                                                              6 Property Rights

                                                                                                              7 Binding Contracts

                                                                                                              Understanding how all parts fit together

                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                              Shows interdependence between

                                                                                                              businesses and individuals

                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                              Do you remember

                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                              democracy and mixed economy

                                                                                                              • Foundations of Government and Economics
                                                                                                              • On your blank piece of paperhellip
                                                                                                              • Slide 3
                                                                                                              • Warm-Up 1 - 9414
                                                                                                              • Introductory thoughts hellip
                                                                                                              • Slide 6
                                                                                                              • 2 How about to your life
                                                                                                              • Slide 8
                                                                                                              • Slide 9
                                                                                                              • Slide 10
                                                                                                              • Slide 11
                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                              • Warm up 2bndash In Journal-
                                                                                                              • Economist and Politician Assumptions
                                                                                                              • Individualism
                                                                                                              • Quote activity
                                                                                                              • Quote breakdown
                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                              • Purpose of Government
                                                                                                              • Slide 20
                                                                                                              • 3 Theorists
                                                                                                              • Activity
                                                                                                              • Origins of American Government A customized government
                                                                                                              • Origins of American Government A customized government (2)
                                                                                                              • Origins of American Government A customized government (3)
                                                                                                              • With which theory do you agree more Why
                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                              • Groups Block 2
                                                                                                              • Groups Block 4
                                                                                                              • Balloon Game
                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                              • Balloon Game Debriefing
                                                                                                              • Political Theories
                                                                                                              • Social Contract
                                                                                                              • Natural Rights
                                                                                                              • Democracy
                                                                                                              • Concepts of Government
                                                                                                              • Warm up 6 ndash 91114
                                                                                                              • Warm Up 7
                                                                                                              • And after the Constitution
                                                                                                              • Activity (2)
                                                                                                              • Picture Activity
                                                                                                              • Constitutional Convention
                                                                                                              • Purpose of the Convention
                                                                                                              • VA Plan v NJ Plan
                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                              • Your Task
                                                                                                              • Closure
                                                                                                              • States agree
                                                                                                              • Quote
                                                                                                              • Structure of Constitution
                                                                                                              • Structure of Constitution
                                                                                                              • 6 Purpose of Government
                                                                                                              • Structure of Constitution (2)
                                                                                                              • Structure of Constitution (3)
                                                                                                              • Principles of Constitution
                                                                                                              • Activity
                                                                                                              • Slide 60
                                                                                                              • Check for Understanding Six Principles
                                                                                                              • Question 1
                                                                                                              • Question 2
                                                                                                              • Question 3
                                                                                                              • Question 4
                                                                                                              • Question 5
                                                                                                              • Question 6
                                                                                                              • Question 7
                                                                                                              • Question 8
                                                                                                              • Groups
                                                                                                              • Separation of Powers
                                                                                                              • Video
                                                                                                              • Checks and Balances
                                                                                                              • Slide 74
                                                                                                              • Checks and balances
                                                                                                              • Basic Principles
                                                                                                              • Self- Worth
                                                                                                              • Equality
                                                                                                              • Compromise
                                                                                                              • Individual Freedom
                                                                                                              • Write your ownhellip
                                                                                                              • Slide 82
                                                                                                              • TED Talk
                                                                                                              • Closure
                                                                                                              • What is Economics
                                                                                                              • Economics ishellip
                                                                                                              • Back to our assumptionshellip
                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                              • For the videohellip
                                                                                                              • Slide 90
                                                                                                              • Post Videohellip
                                                                                                              • Advertisement
                                                                                                              • Political Cartoon Analysis
                                                                                                              • Factors of Production
                                                                                                              • TASK
                                                                                                              • The price ofhellip
                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                              • 1 What to produce
                                                                                                              • 2 How to produce it
                                                                                                              • 3 For whom to produce it
                                                                                                              • Application Activity
                                                                                                              • EQs
                                                                                                              • Objectives amp Essential Questions
                                                                                                              • Group Activity Budget Activity
                                                                                                              • Slide 105
                                                                                                              • How do we satisfy our economic wants
                                                                                                              • How do we make goods amp services
                                                                                                              • Economic Interdependence
                                                                                                              • Slide 109
                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                              • Exampleshellip
                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                              • Opportunity Cost
                                                                                                              • What else influences your choices
                                                                                                              • Finallyhellip Why it Matters
                                                                                                              • Visualizing the Relationshiphellip
                                                                                                              • ObjectivesEssential Questions
                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                              • Production Possibilities Frontier
                                                                                                              • PPF Assumptions
                                                                                                              • Slide 121
                                                                                                              • Production Possibilities Curve
                                                                                                              • The Choices Nations Make
                                                                                                              • Economic Growth
                                                                                                              • The Classic Guns and Butter example
                                                                                                              • Productivity
                                                                                                              • Locations on a PPF
                                                                                                              • Slide 128
                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                              • Economic Systems
                                                                                                              • Jigsaw activity
                                                                                                              • Slide 132
                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                              • Review of Economic Systems
                                                                                                              • Slide 135
                                                                                                              • What are the most important goals of each economic system
                                                                                                              • Which economic system does the US use
                                                                                                              • The American Economic System
                                                                                                              • The US mixed economy
                                                                                                              • Slide 140
                                                                                                              • Think backhellip
                                                                                                              • US Economic System Characteristics
                                                                                                              • Slide 143
                                                                                                              • Understanding how all parts fit together
                                                                                                              • Marriage Vows
                                                                                                              • Do you remember
                                                                                                              • Slide 147

                                                                                                                Structure of Constitution

                                                                                                                bullAmendments Formal changes made to the ConstitutionTwenty-seven in total First ten referred to as the Bill of Rights

                                                                                                                Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                                bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                                Activity

                                                                                                                Activity bull STEP 1 bull Fill in the graphic

                                                                                                                organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                                bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                                Principle Explanation

                                                                                                                Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                                Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                                Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                                Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                                Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                                Federalism Divides the power between the central government and the States

                                                                                                                Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                                Question 1

                                                                                                                bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                                Popular Sovereignty

                                                                                                                Question 2

                                                                                                                bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                                Limited Government

                                                                                                                Question 3

                                                                                                                bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                                Limited Government

                                                                                                                Question 4

                                                                                                                bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                                SEPARATION OF POWERS

                                                                                                                Question 5

                                                                                                                bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                Checks and Balances

                                                                                                                Question 6

                                                                                                                bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                CHECKS AND BALANCES

                                                                                                                Question 7

                                                                                                                bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                JUDICIAL REVIEW

                                                                                                                Question 8

                                                                                                                bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                Federalism

                                                                                                                GroupsPopular

                                                                                                                SovereigntySeparation of

                                                                                                                PowersFederalism

                                                                                                                bull bull bull

                                                                                                                Judicial Review

                                                                                                                Limited Government

                                                                                                                Checks and Balances

                                                                                                                bull bull bull

                                                                                                                Separation of Powers

                                                                                                                bull Legislative branchmdashmakes the laws

                                                                                                                bull Executive branchmdashenforces the laws

                                                                                                                bull Judicial branchmdashinterprets the law

                                                                                                                Video

                                                                                                                bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                Checks and Balances

                                                                                                                Checks and balances

                                                                                                                bullIn what was do the branches check on one another

                                                                                                                bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                Basic Principles

                                                                                                                bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                Self- Worth

                                                                                                                bull A recognition of the fundamental worth of every person

                                                                                                                bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                Compromise

                                                                                                                bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                bullWhy is compromise important

                                                                                                                Individual Freedombull Right of the

                                                                                                                individual to be free as far as the freedom of all will allow

                                                                                                                bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                Write your ownhellipbull Now that you know what the foundations of

                                                                                                                government arehellip Create your own Constitution (Or social contract)

                                                                                                                What do you think is important to include What do you think could be taken out

                                                                                                                Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                change it)

                                                                                                                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                paper

                                                                                                                TED Talk

                                                                                                                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                Closure

                                                                                                                bullExplain two principles of the constitution and how are they connected

                                                                                                                What is Economics

                                                                                                                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                Important Parts of Economicsndash

                                                                                                                CHOICESSCARCITY

                                                                                                                Economics ishellip

                                                                                                                bullDependent upon assumptions

                                                                                                                bullDependent upon simplification of reality

                                                                                                                Back to our assumptionshellip

                                                                                                                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                bullAll sellers seek to maximize profits

                                                                                                                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                For the videohellip

                                                                                                                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                Post Videohellip

                                                                                                                bullDefine the main idea of the video in 4-5 words

                                                                                                                Advertisement

                                                                                                                bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                3 images that represent different economic ideas

                                                                                                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                1 slogan that represents why economics is an important course to take

                                                                                                                Political Cartoon Analysis

                                                                                                                Factors of Production bull LAND

                                                                                                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                soil minerals water and plants

                                                                                                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                into producing goodsservices

                                                                                                                bull CAPITAL Includes tools machines buildings and

                                                                                                                technologies

                                                                                                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                land labor and capital to produce goods and services

                                                                                                                TASK

                                                                                                                bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                bullAnswer in 2-3 sentences

                                                                                                                The price ofhellip

                                                                                                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                Economic efficiency is achieved when all available resources are being used

                                                                                                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                1 What to produce

                                                                                                                bullShould it be military or civilian goods

                                                                                                                bullFood or clothingbullMedicine or movies

                                                                                                                2 How to produce it

                                                                                                                bullAutomated or manual labor

                                                                                                                bullExpensive or cheap materials

                                                                                                                bullDomestic or overseas labor

                                                                                                                3 For whom to produce it

                                                                                                                bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                Application Activity

                                                                                                                bull In groups of 2-3 create your own country (name it please)

                                                                                                                bull With your countryrsquos name explain the Population geography and general population

                                                                                                                information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                withhellip Images representing what you produce and a

                                                                                                                slogan for why your country is awesome

                                                                                                                EQs

                                                                                                                bullHow does scarcity impact decision making

                                                                                                                Objectives amp Essential QuestionsbullObjectives

                                                                                                                I will be able to create and reflect on a budget given new economics content

                                                                                                                I will be able to understand scarcity and our mixed economy

                                                                                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                Group Activity Budget Activity

                                                                                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                How do we satisfy our economic wants

                                                                                                                bull We buy goods or services

                                                                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                How do we make goods amp services

                                                                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                Production Equation

                                                                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                inputs output

                                                                                                                Economic Interdependence

                                                                                                                bullWhat does lsquointerdependencersquo mean

                                                                                                                bullIs our world becoming economic interdependent or independent

                                                                                                                bullEconomic Interdependence the actions of one part of the

                                                                                                                country (world) has an impact on what happens elsewhere

                                                                                                                Wants amp Needs gt

                                                                                                                Resources

                                                                                                                Because of scarcity we

                                                                                                                have to make choices

                                                                                                                How do we make a choice What do we give up

                                                                                                                What does this remind you of from our government unit

                                                                                                                Making Choices to Deal With Scarcity

                                                                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                decision over another

                                                                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                school today or should I sleep in

                                                                                                                Task Reflecting on Personal Trade-offshellip

                                                                                                                In the end what helped you decide amongst your choices

                                                                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                tradeoffs for that decision

                                                                                                                Be prepared to share

                                                                                                                Opportunity Cost

                                                                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                                                                we want

                                                                                                                What else influences your choices

                                                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                FinallyhellipWhy it Matters

                                                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                better decision-maker

                                                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                You always have to give something uphelliprdquo

                                                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                decisions

                                                                                                                Visualizing the Relationshiphellip

                                                                                                                Limited Resources amp Unlimited Wants

                                                                                                                Scarcity

                                                                                                                Trade-offs (choices)

                                                                                                                Opportunity Costs

                                                                                                                ObjectivesEssential Questions

                                                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                                                the three different types of economies

                                                                                                                bullEssential Question How do the different types of economies work

                                                                                                                How Can We Measure What We Gain and Lose When

                                                                                                                Making Choices

                                                                                                                Answer With a Production Possibilities Frontier

                                                                                                                Production Possibilities Frontier

                                                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                PPF Assumptions

                                                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                Production Possibilities Curve

                                                                                                                CD

                                                                                                                E

                                                                                                                OU

                                                                                                                TP

                                                                                                                UT

                                                                                                                OF

                                                                                                                CO

                                                                                                                NS

                                                                                                                UM

                                                                                                                ER

                                                                                                                GO

                                                                                                                OD

                                                                                                                S

                                                                                                                (un

                                                                                                                its

                                                                                                                per

                                                                                                                yea

                                                                                                                r)

                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                A

                                                                                                                BO

                                                                                                                XF

                                                                                                                G

                                                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                                                The Choices Nations Make

                                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                bullProduce military goods or consumer goods

                                                                                                                Economic Growth

                                                                                                                2000 production possibilities

                                                                                                                1900 production possibilities

                                                                                                                OU

                                                                                                                TP

                                                                                                                UT

                                                                                                                OF

                                                                                                                CO

                                                                                                                NS

                                                                                                                UM

                                                                                                                ER

                                                                                                                GO

                                                                                                                OD

                                                                                                                S(u

                                                                                                                nits

                                                                                                                per

                                                                                                                yea

                                                                                                                r)

                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                Production possibilities increases with more resources and technology

                                                                                                                The Classic Guns and Butter example

                                                                                                                Guns

                                                                                                                Butter

                                                                                                                10000 20000 30000 40000 50000

                                                                                                                1000009500085000

                                                                                                                70000

                                                                                                                5000040000

                                                                                                                BA

                                                                                                                C

                                                                                                                D

                                                                                                                E

                                                                                                                F

                                                                                                                At point A all resources are used for butter

                                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                At point F all resources are used for Guns

                                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                                choices are

                                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                Locations on a PPF

                                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                Food

                                                                                                                Computer

                                                                                                                4

                                                                                                                3

                                                                                                                2

                                                                                                                1

                                                                                                                1 2 3 4

                                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                                Unit

                                                                                                                Constantly giving up the same quantity of food to get

                                                                                                                additional computers

                                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                Principle of Increasing Costs

                                                                                                                As a society produces more of one product the OC of producing

                                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                Economic Systems

                                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                                Jigsaw activity

                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                bull Economic Freedom

                                                                                                                bull Economic Efficiency

                                                                                                                bull Economic Equity

                                                                                                                bull Economic Security

                                                                                                                Economic Stability

                                                                                                                Economic Growth

                                                                                                                Review of Economic Systems

                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                What are the most important goals of each economic system

                                                                                                                bullTraditionalSecurity and

                                                                                                                StabilitybullCommand

                                                                                                                Equity and Security

                                                                                                                bullMARKETEfficiency and

                                                                                                                Freedom

                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                Which economic system does the US use

                                                                                                                The American Economic System

                                                                                                                bullWe have a mixed market economy

                                                                                                                COMMAND MARKET

                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                Think backhellip

                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                2 Limited government

                                                                                                                3 Equal opportunity

                                                                                                                4 Competition

                                                                                                                5 Profit motive

                                                                                                                6 Property Rights

                                                                                                                7 Binding Contracts

                                                                                                                Understanding how all parts fit together

                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                Shows interdependence between

                                                                                                                businesses and individuals

                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                Do you remember

                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                democracy and mixed economy

                                                                                                                • Foundations of Government and Economics
                                                                                                                • On your blank piece of paperhellip
                                                                                                                • Slide 3
                                                                                                                • Warm-Up 1 - 9414
                                                                                                                • Introductory thoughts hellip
                                                                                                                • Slide 6
                                                                                                                • 2 How about to your life
                                                                                                                • Slide 8
                                                                                                                • Slide 9
                                                                                                                • Slide 10
                                                                                                                • Slide 11
                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                • Economist and Politician Assumptions
                                                                                                                • Individualism
                                                                                                                • Quote activity
                                                                                                                • Quote breakdown
                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                • Purpose of Government
                                                                                                                • Slide 20
                                                                                                                • 3 Theorists
                                                                                                                • Activity
                                                                                                                • Origins of American Government A customized government
                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                • With which theory do you agree more Why
                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                • Groups Block 2
                                                                                                                • Groups Block 4
                                                                                                                • Balloon Game
                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                • Balloon Game Debriefing
                                                                                                                • Political Theories
                                                                                                                • Social Contract
                                                                                                                • Natural Rights
                                                                                                                • Democracy
                                                                                                                • Concepts of Government
                                                                                                                • Warm up 6 ndash 91114
                                                                                                                • Warm Up 7
                                                                                                                • And after the Constitution
                                                                                                                • Activity (2)
                                                                                                                • Picture Activity
                                                                                                                • Constitutional Convention
                                                                                                                • Purpose of the Convention
                                                                                                                • VA Plan v NJ Plan
                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                • Your Task
                                                                                                                • Closure
                                                                                                                • States agree
                                                                                                                • Quote
                                                                                                                • Structure of Constitution
                                                                                                                • Structure of Constitution
                                                                                                                • 6 Purpose of Government
                                                                                                                • Structure of Constitution (2)
                                                                                                                • Structure of Constitution (3)
                                                                                                                • Principles of Constitution
                                                                                                                • Activity
                                                                                                                • Slide 60
                                                                                                                • Check for Understanding Six Principles
                                                                                                                • Question 1
                                                                                                                • Question 2
                                                                                                                • Question 3
                                                                                                                • Question 4
                                                                                                                • Question 5
                                                                                                                • Question 6
                                                                                                                • Question 7
                                                                                                                • Question 8
                                                                                                                • Groups
                                                                                                                • Separation of Powers
                                                                                                                • Video
                                                                                                                • Checks and Balances
                                                                                                                • Slide 74
                                                                                                                • Checks and balances
                                                                                                                • Basic Principles
                                                                                                                • Self- Worth
                                                                                                                • Equality
                                                                                                                • Compromise
                                                                                                                • Individual Freedom
                                                                                                                • Write your ownhellip
                                                                                                                • Slide 82
                                                                                                                • TED Talk
                                                                                                                • Closure
                                                                                                                • What is Economics
                                                                                                                • Economics ishellip
                                                                                                                • Back to our assumptionshellip
                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                • For the videohellip
                                                                                                                • Slide 90
                                                                                                                • Post Videohellip
                                                                                                                • Advertisement
                                                                                                                • Political Cartoon Analysis
                                                                                                                • Factors of Production
                                                                                                                • TASK
                                                                                                                • The price ofhellip
                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                • 1 What to produce
                                                                                                                • 2 How to produce it
                                                                                                                • 3 For whom to produce it
                                                                                                                • Application Activity
                                                                                                                • EQs
                                                                                                                • Objectives amp Essential Questions
                                                                                                                • Group Activity Budget Activity
                                                                                                                • Slide 105
                                                                                                                • How do we satisfy our economic wants
                                                                                                                • How do we make goods amp services
                                                                                                                • Economic Interdependence
                                                                                                                • Slide 109
                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                • Exampleshellip
                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                • Opportunity Cost
                                                                                                                • What else influences your choices
                                                                                                                • Finallyhellip Why it Matters
                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                • ObjectivesEssential Questions
                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                • Production Possibilities Frontier
                                                                                                                • PPF Assumptions
                                                                                                                • Slide 121
                                                                                                                • Production Possibilities Curve
                                                                                                                • The Choices Nations Make
                                                                                                                • Economic Growth
                                                                                                                • The Classic Guns and Butter example
                                                                                                                • Productivity
                                                                                                                • Locations on a PPF
                                                                                                                • Slide 128
                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                • Economic Systems
                                                                                                                • Jigsaw activity
                                                                                                                • Slide 132
                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                • Review of Economic Systems
                                                                                                                • Slide 135
                                                                                                                • What are the most important goals of each economic system
                                                                                                                • Which economic system does the US use
                                                                                                                • The American Economic System
                                                                                                                • The US mixed economy
                                                                                                                • Slide 140
                                                                                                                • Think backhellip
                                                                                                                • US Economic System Characteristics
                                                                                                                • Slide 143
                                                                                                                • Understanding how all parts fit together
                                                                                                                • Marriage Vows
                                                                                                                • Do you remember
                                                                                                                • Slide 147

                                                                                                                  Principles of Constitution bull The language and structure of the Constitution reflects the basic principles of the US government system

                                                                                                                  bull PrinciplesmdashPopular sovereigntyRepresentative government Separation of powers Checks and balancesLimited governmentFederalism

                                                                                                                  Activity

                                                                                                                  Activity bull STEP 1 bull Fill in the graphic

                                                                                                                  organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                                  bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                                  Principle Explanation

                                                                                                                  Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                                  Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                                  Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                                  Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                                  Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                                  Federalism Divides the power between the central government and the States

                                                                                                                  Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                                  Question 1

                                                                                                                  bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                                  Popular Sovereignty

                                                                                                                  Question 2

                                                                                                                  bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                                  Limited Government

                                                                                                                  Question 3

                                                                                                                  bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                                  Limited Government

                                                                                                                  Question 4

                                                                                                                  bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                                  SEPARATION OF POWERS

                                                                                                                  Question 5

                                                                                                                  bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                  Checks and Balances

                                                                                                                  Question 6

                                                                                                                  bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                  CHECKS AND BALANCES

                                                                                                                  Question 7

                                                                                                                  bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                  JUDICIAL REVIEW

                                                                                                                  Question 8

                                                                                                                  bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                  Federalism

                                                                                                                  GroupsPopular

                                                                                                                  SovereigntySeparation of

                                                                                                                  PowersFederalism

                                                                                                                  bull bull bull

                                                                                                                  Judicial Review

                                                                                                                  Limited Government

                                                                                                                  Checks and Balances

                                                                                                                  bull bull bull

                                                                                                                  Separation of Powers

                                                                                                                  bull Legislative branchmdashmakes the laws

                                                                                                                  bull Executive branchmdashenforces the laws

                                                                                                                  bull Judicial branchmdashinterprets the law

                                                                                                                  Video

                                                                                                                  bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                  Checks and Balances

                                                                                                                  Checks and balances

                                                                                                                  bullIn what was do the branches check on one another

                                                                                                                  bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                  Basic Principles

                                                                                                                  bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                  Self- Worth

                                                                                                                  bull A recognition of the fundamental worth of every person

                                                                                                                  bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                  Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                  bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                  bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                  Compromise

                                                                                                                  bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                  bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                  bullWhy is compromise important

                                                                                                                  Individual Freedombull Right of the

                                                                                                                  individual to be free as far as the freedom of all will allow

                                                                                                                  bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                  Write your ownhellipbull Now that you know what the foundations of

                                                                                                                  government arehellip Create your own Constitution (Or social contract)

                                                                                                                  What do you think is important to include What do you think could be taken out

                                                                                                                  Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                  Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                  learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                  change it)

                                                                                                                  bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                  paper

                                                                                                                  TED Talk

                                                                                                                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                  Closure

                                                                                                                  bullExplain two principles of the constitution and how are they connected

                                                                                                                  What is Economics

                                                                                                                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                  Important Parts of Economicsndash

                                                                                                                  CHOICESSCARCITY

                                                                                                                  Economics ishellip

                                                                                                                  bullDependent upon assumptions

                                                                                                                  bullDependent upon simplification of reality

                                                                                                                  Back to our assumptionshellip

                                                                                                                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                  bullAll sellers seek to maximize profits

                                                                                                                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                  For the videohellip

                                                                                                                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                  Post Videohellip

                                                                                                                  bullDefine the main idea of the video in 4-5 words

                                                                                                                  Advertisement

                                                                                                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                  3 images that represent different economic ideas

                                                                                                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                  1 slogan that represents why economics is an important course to take

                                                                                                                  Political Cartoon Analysis

                                                                                                                  Factors of Production bull LAND

                                                                                                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                  soil minerals water and plants

                                                                                                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                  into producing goodsservices

                                                                                                                  bull CAPITAL Includes tools machines buildings and

                                                                                                                  technologies

                                                                                                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                  land labor and capital to produce goods and services

                                                                                                                  TASK

                                                                                                                  bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                  bullAnswer in 2-3 sentences

                                                                                                                  The price ofhellip

                                                                                                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                  Economic efficiency is achieved when all available resources are being used

                                                                                                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                  1 What to produce

                                                                                                                  bullShould it be military or civilian goods

                                                                                                                  bullFood or clothingbullMedicine or movies

                                                                                                                  2 How to produce it

                                                                                                                  bullAutomated or manual labor

                                                                                                                  bullExpensive or cheap materials

                                                                                                                  bullDomestic or overseas labor

                                                                                                                  3 For whom to produce it

                                                                                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                  Application Activity

                                                                                                                  bull In groups of 2-3 create your own country (name it please)

                                                                                                                  bull With your countryrsquos name explain the Population geography and general population

                                                                                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                  withhellip Images representing what you produce and a

                                                                                                                  slogan for why your country is awesome

                                                                                                                  EQs

                                                                                                                  bullHow does scarcity impact decision making

                                                                                                                  Objectives amp Essential QuestionsbullObjectives

                                                                                                                  I will be able to create and reflect on a budget given new economics content

                                                                                                                  I will be able to understand scarcity and our mixed economy

                                                                                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                  Group Activity Budget Activity

                                                                                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                  How do we satisfy our economic wants

                                                                                                                  bull We buy goods or services

                                                                                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                  How do we make goods amp services

                                                                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                  Production Equation

                                                                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                  inputs output

                                                                                                                  Economic Interdependence

                                                                                                                  bullWhat does lsquointerdependencersquo mean

                                                                                                                  bullIs our world becoming economic interdependent or independent

                                                                                                                  bullEconomic Interdependence the actions of one part of the

                                                                                                                  country (world) has an impact on what happens elsewhere

                                                                                                                  Wants amp Needs gt

                                                                                                                  Resources

                                                                                                                  Because of scarcity we

                                                                                                                  have to make choices

                                                                                                                  How do we make a choice What do we give up

                                                                                                                  What does this remind you of from our government unit

                                                                                                                  Making Choices to Deal With Scarcity

                                                                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                  decision over another

                                                                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                  school today or should I sleep in

                                                                                                                  Task Reflecting on Personal Trade-offshellip

                                                                                                                  In the end what helped you decide amongst your choices

                                                                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                  tradeoffs for that decision

                                                                                                                  Be prepared to share

                                                                                                                  Opportunity Cost

                                                                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                                                                  we want

                                                                                                                  What else influences your choices

                                                                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                  FinallyhellipWhy it Matters

                                                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                  better decision-maker

                                                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                  You always have to give something uphelliprdquo

                                                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                  decisions

                                                                                                                  Visualizing the Relationshiphellip

                                                                                                                  Limited Resources amp Unlimited Wants

                                                                                                                  Scarcity

                                                                                                                  Trade-offs (choices)

                                                                                                                  Opportunity Costs

                                                                                                                  ObjectivesEssential Questions

                                                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                                                  the three different types of economies

                                                                                                                  bullEssential Question How do the different types of economies work

                                                                                                                  How Can We Measure What We Gain and Lose When

                                                                                                                  Making Choices

                                                                                                                  Answer With a Production Possibilities Frontier

                                                                                                                  Production Possibilities Frontier

                                                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                  PPF Assumptions

                                                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                  Production Possibilities Curve

                                                                                                                  CD

                                                                                                                  E

                                                                                                                  OU

                                                                                                                  TP

                                                                                                                  UT

                                                                                                                  OF

                                                                                                                  CO

                                                                                                                  NS

                                                                                                                  UM

                                                                                                                  ER

                                                                                                                  GO

                                                                                                                  OD

                                                                                                                  S

                                                                                                                  (un

                                                                                                                  its

                                                                                                                  per

                                                                                                                  yea

                                                                                                                  r)

                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                  A

                                                                                                                  BO

                                                                                                                  XF

                                                                                                                  G

                                                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                                                  The Choices Nations Make

                                                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                  bullProduce military goods or consumer goods

                                                                                                                  Economic Growth

                                                                                                                  2000 production possibilities

                                                                                                                  1900 production possibilities

                                                                                                                  OU

                                                                                                                  TP

                                                                                                                  UT

                                                                                                                  OF

                                                                                                                  CO

                                                                                                                  NS

                                                                                                                  UM

                                                                                                                  ER

                                                                                                                  GO

                                                                                                                  OD

                                                                                                                  S(u

                                                                                                                  nits

                                                                                                                  per

                                                                                                                  yea

                                                                                                                  r)

                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                  Production possibilities increases with more resources and technology

                                                                                                                  The Classic Guns and Butter example

                                                                                                                  Guns

                                                                                                                  Butter

                                                                                                                  10000 20000 30000 40000 50000

                                                                                                                  1000009500085000

                                                                                                                  70000

                                                                                                                  5000040000

                                                                                                                  BA

                                                                                                                  C

                                                                                                                  D

                                                                                                                  E

                                                                                                                  F

                                                                                                                  At point A all resources are used for butter

                                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                  At point F all resources are used for Guns

                                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                                  choices are

                                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                  Locations on a PPF

                                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                  Food

                                                                                                                  Computer

                                                                                                                  4

                                                                                                                  3

                                                                                                                  2

                                                                                                                  1

                                                                                                                  1 2 3 4

                                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                                  Unit

                                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                                  additional computers

                                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                  Principle of Increasing Costs

                                                                                                                  As a society produces more of one product the OC of producing

                                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                  Economic Systems

                                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                                  Jigsaw activity

                                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                  bull Economic Freedom

                                                                                                                  bull Economic Efficiency

                                                                                                                  bull Economic Equity

                                                                                                                  bull Economic Security

                                                                                                                  Economic Stability

                                                                                                                  Economic Growth

                                                                                                                  Review of Economic Systems

                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                  What are the most important goals of each economic system

                                                                                                                  bullTraditionalSecurity and

                                                                                                                  StabilitybullCommand

                                                                                                                  Equity and Security

                                                                                                                  bullMARKETEfficiency and

                                                                                                                  Freedom

                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                  Which economic system does the US use

                                                                                                                  The American Economic System

                                                                                                                  bullWe have a mixed market economy

                                                                                                                  COMMAND MARKET

                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                  Think backhellip

                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                  2 Limited government

                                                                                                                  3 Equal opportunity

                                                                                                                  4 Competition

                                                                                                                  5 Profit motive

                                                                                                                  6 Property Rights

                                                                                                                  7 Binding Contracts

                                                                                                                  Understanding how all parts fit together

                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                  Shows interdependence between

                                                                                                                  businesses and individuals

                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                  Do you remember

                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                  democracy and mixed economy

                                                                                                                  • Foundations of Government and Economics
                                                                                                                  • On your blank piece of paperhellip
                                                                                                                  • Slide 3
                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                  • Introductory thoughts hellip
                                                                                                                  • Slide 6
                                                                                                                  • 2 How about to your life
                                                                                                                  • Slide 8
                                                                                                                  • Slide 9
                                                                                                                  • Slide 10
                                                                                                                  • Slide 11
                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                  • Economist and Politician Assumptions
                                                                                                                  • Individualism
                                                                                                                  • Quote activity
                                                                                                                  • Quote breakdown
                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                  • Purpose of Government
                                                                                                                  • Slide 20
                                                                                                                  • 3 Theorists
                                                                                                                  • Activity
                                                                                                                  • Origins of American Government A customized government
                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                  • With which theory do you agree more Why
                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                  • Groups Block 2
                                                                                                                  • Groups Block 4
                                                                                                                  • Balloon Game
                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                  • Balloon Game Debriefing
                                                                                                                  • Political Theories
                                                                                                                  • Social Contract
                                                                                                                  • Natural Rights
                                                                                                                  • Democracy
                                                                                                                  • Concepts of Government
                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                  • Warm Up 7
                                                                                                                  • And after the Constitution
                                                                                                                  • Activity (2)
                                                                                                                  • Picture Activity
                                                                                                                  • Constitutional Convention
                                                                                                                  • Purpose of the Convention
                                                                                                                  • VA Plan v NJ Plan
                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                  • Your Task
                                                                                                                  • Closure
                                                                                                                  • States agree
                                                                                                                  • Quote
                                                                                                                  • Structure of Constitution
                                                                                                                  • Structure of Constitution
                                                                                                                  • 6 Purpose of Government
                                                                                                                  • Structure of Constitution (2)
                                                                                                                  • Structure of Constitution (3)
                                                                                                                  • Principles of Constitution
                                                                                                                  • Activity
                                                                                                                  • Slide 60
                                                                                                                  • Check for Understanding Six Principles
                                                                                                                  • Question 1
                                                                                                                  • Question 2
                                                                                                                  • Question 3
                                                                                                                  • Question 4
                                                                                                                  • Question 5
                                                                                                                  • Question 6
                                                                                                                  • Question 7
                                                                                                                  • Question 8
                                                                                                                  • Groups
                                                                                                                  • Separation of Powers
                                                                                                                  • Video
                                                                                                                  • Checks and Balances
                                                                                                                  • Slide 74
                                                                                                                  • Checks and balances
                                                                                                                  • Basic Principles
                                                                                                                  • Self- Worth
                                                                                                                  • Equality
                                                                                                                  • Compromise
                                                                                                                  • Individual Freedom
                                                                                                                  • Write your ownhellip
                                                                                                                  • Slide 82
                                                                                                                  • TED Talk
                                                                                                                  • Closure
                                                                                                                  • What is Economics
                                                                                                                  • Economics ishellip
                                                                                                                  • Back to our assumptionshellip
                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                  • For the videohellip
                                                                                                                  • Slide 90
                                                                                                                  • Post Videohellip
                                                                                                                  • Advertisement
                                                                                                                  • Political Cartoon Analysis
                                                                                                                  • Factors of Production
                                                                                                                  • TASK
                                                                                                                  • The price ofhellip
                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                  • 1 What to produce
                                                                                                                  • 2 How to produce it
                                                                                                                  • 3 For whom to produce it
                                                                                                                  • Application Activity
                                                                                                                  • EQs
                                                                                                                  • Objectives amp Essential Questions
                                                                                                                  • Group Activity Budget Activity
                                                                                                                  • Slide 105
                                                                                                                  • How do we satisfy our economic wants
                                                                                                                  • How do we make goods amp services
                                                                                                                  • Economic Interdependence
                                                                                                                  • Slide 109
                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                  • Exampleshellip
                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                  • Opportunity Cost
                                                                                                                  • What else influences your choices
                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                  • ObjectivesEssential Questions
                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                  • Production Possibilities Frontier
                                                                                                                  • PPF Assumptions
                                                                                                                  • Slide 121
                                                                                                                  • Production Possibilities Curve
                                                                                                                  • The Choices Nations Make
                                                                                                                  • Economic Growth
                                                                                                                  • The Classic Guns and Butter example
                                                                                                                  • Productivity
                                                                                                                  • Locations on a PPF
                                                                                                                  • Slide 128
                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                  • Economic Systems
                                                                                                                  • Jigsaw activity
                                                                                                                  • Slide 132
                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                  • Review of Economic Systems
                                                                                                                  • Slide 135
                                                                                                                  • What are the most important goals of each economic system
                                                                                                                  • Which economic system does the US use
                                                                                                                  • The American Economic System
                                                                                                                  • The US mixed economy
                                                                                                                  • Slide 140
                                                                                                                  • Think backhellip
                                                                                                                  • US Economic System Characteristics
                                                                                                                  • Slide 143
                                                                                                                  • Understanding how all parts fit together
                                                                                                                  • Marriage Vows
                                                                                                                  • Do you remember
                                                                                                                  • Slide 147

                                                                                                                    Activity bull STEP 1 bull Fill in the graphic

                                                                                                                    organizer in your guided notes packet You have 8 minutes on your own to do this

                                                                                                                    bull STEP 2 On your own or with a partner create a tri-fold containing visual representations of three different principles of our government On the back explain each principle in 2 sentences

                                                                                                                    Principle Explanation

                                                                                                                    Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                                    Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                                    Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                                    Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                                    Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                                    Federalism Divides the power between the central government and the States

                                                                                                                    Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                                    Question 1

                                                                                                                    bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                                    Popular Sovereignty

                                                                                                                    Question 2

                                                                                                                    bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                                    Limited Government

                                                                                                                    Question 3

                                                                                                                    bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                                    Limited Government

                                                                                                                    Question 4

                                                                                                                    bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                                    SEPARATION OF POWERS

                                                                                                                    Question 5

                                                                                                                    bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                    Checks and Balances

                                                                                                                    Question 6

                                                                                                                    bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                    CHECKS AND BALANCES

                                                                                                                    Question 7

                                                                                                                    bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                    JUDICIAL REVIEW

                                                                                                                    Question 8

                                                                                                                    bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                    Federalism

                                                                                                                    GroupsPopular

                                                                                                                    SovereigntySeparation of

                                                                                                                    PowersFederalism

                                                                                                                    bull bull bull

                                                                                                                    Judicial Review

                                                                                                                    Limited Government

                                                                                                                    Checks and Balances

                                                                                                                    bull bull bull

                                                                                                                    Separation of Powers

                                                                                                                    bull Legislative branchmdashmakes the laws

                                                                                                                    bull Executive branchmdashenforces the laws

                                                                                                                    bull Judicial branchmdashinterprets the law

                                                                                                                    Video

                                                                                                                    bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                    Checks and Balances

                                                                                                                    Checks and balances

                                                                                                                    bullIn what was do the branches check on one another

                                                                                                                    bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                    Basic Principles

                                                                                                                    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                    Self- Worth

                                                                                                                    bull A recognition of the fundamental worth of every person

                                                                                                                    bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                    Compromise

                                                                                                                    bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                    bullWhy is compromise important

                                                                                                                    Individual Freedombull Right of the

                                                                                                                    individual to be free as far as the freedom of all will allow

                                                                                                                    bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                    Write your ownhellipbull Now that you know what the foundations of

                                                                                                                    government arehellip Create your own Constitution (Or social contract)

                                                                                                                    What do you think is important to include What do you think could be taken out

                                                                                                                    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                    Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                    change it)

                                                                                                                    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                    paper

                                                                                                                    TED Talk

                                                                                                                    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                    Closure

                                                                                                                    bullExplain two principles of the constitution and how are they connected

                                                                                                                    What is Economics

                                                                                                                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                    Important Parts of Economicsndash

                                                                                                                    CHOICESSCARCITY

                                                                                                                    Economics ishellip

                                                                                                                    bullDependent upon assumptions

                                                                                                                    bullDependent upon simplification of reality

                                                                                                                    Back to our assumptionshellip

                                                                                                                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                    bullAll sellers seek to maximize profits

                                                                                                                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                    For the videohellip

                                                                                                                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                    Post Videohellip

                                                                                                                    bullDefine the main idea of the video in 4-5 words

                                                                                                                    Advertisement

                                                                                                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                    3 images that represent different economic ideas

                                                                                                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                    1 slogan that represents why economics is an important course to take

                                                                                                                    Political Cartoon Analysis

                                                                                                                    Factors of Production bull LAND

                                                                                                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                    soil minerals water and plants

                                                                                                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                    into producing goodsservices

                                                                                                                    bull CAPITAL Includes tools machines buildings and

                                                                                                                    technologies

                                                                                                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                    land labor and capital to produce goods and services

                                                                                                                    TASK

                                                                                                                    bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                    bullAnswer in 2-3 sentences

                                                                                                                    The price ofhellip

                                                                                                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                    Economic efficiency is achieved when all available resources are being used

                                                                                                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                    1 What to produce

                                                                                                                    bullShould it be military or civilian goods

                                                                                                                    bullFood or clothingbullMedicine or movies

                                                                                                                    2 How to produce it

                                                                                                                    bullAutomated or manual labor

                                                                                                                    bullExpensive or cheap materials

                                                                                                                    bullDomestic or overseas labor

                                                                                                                    3 For whom to produce it

                                                                                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                    Application Activity

                                                                                                                    bull In groups of 2-3 create your own country (name it please)

                                                                                                                    bull With your countryrsquos name explain the Population geography and general population

                                                                                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                    withhellip Images representing what you produce and a

                                                                                                                    slogan for why your country is awesome

                                                                                                                    EQs

                                                                                                                    bullHow does scarcity impact decision making

                                                                                                                    Objectives amp Essential QuestionsbullObjectives

                                                                                                                    I will be able to create and reflect on a budget given new economics content

                                                                                                                    I will be able to understand scarcity and our mixed economy

                                                                                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                    Group Activity Budget Activity

                                                                                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                    How do we satisfy our economic wants

                                                                                                                    bull We buy goods or services

                                                                                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                    How do we make goods amp services

                                                                                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                    Production Equation

                                                                                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                    inputs output

                                                                                                                    Economic Interdependence

                                                                                                                    bullWhat does lsquointerdependencersquo mean

                                                                                                                    bullIs our world becoming economic interdependent or independent

                                                                                                                    bullEconomic Interdependence the actions of one part of the

                                                                                                                    country (world) has an impact on what happens elsewhere

                                                                                                                    Wants amp Needs gt

                                                                                                                    Resources

                                                                                                                    Because of scarcity we

                                                                                                                    have to make choices

                                                                                                                    How do we make a choice What do we give up

                                                                                                                    What does this remind you of from our government unit

                                                                                                                    Making Choices to Deal With Scarcity

                                                                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                    decision over another

                                                                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                    school today or should I sleep in

                                                                                                                    Task Reflecting on Personal Trade-offshellip

                                                                                                                    In the end what helped you decide amongst your choices

                                                                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                    tradeoffs for that decision

                                                                                                                    Be prepared to share

                                                                                                                    Opportunity Cost

                                                                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                                                                    we want

                                                                                                                    What else influences your choices

                                                                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                    FinallyhellipWhy it Matters

                                                                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                    better decision-maker

                                                                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                    You always have to give something uphelliprdquo

                                                                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                    decisions

                                                                                                                    Visualizing the Relationshiphellip

                                                                                                                    Limited Resources amp Unlimited Wants

                                                                                                                    Scarcity

                                                                                                                    Trade-offs (choices)

                                                                                                                    Opportunity Costs

                                                                                                                    ObjectivesEssential Questions

                                                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                                                    the three different types of economies

                                                                                                                    bullEssential Question How do the different types of economies work

                                                                                                                    How Can We Measure What We Gain and Lose When

                                                                                                                    Making Choices

                                                                                                                    Answer With a Production Possibilities Frontier

                                                                                                                    Production Possibilities Frontier

                                                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                    PPF Assumptions

                                                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                    Production Possibilities Curve

                                                                                                                    CD

                                                                                                                    E

                                                                                                                    OU

                                                                                                                    TP

                                                                                                                    UT

                                                                                                                    OF

                                                                                                                    CO

                                                                                                                    NS

                                                                                                                    UM

                                                                                                                    ER

                                                                                                                    GO

                                                                                                                    OD

                                                                                                                    S

                                                                                                                    (un

                                                                                                                    its

                                                                                                                    per

                                                                                                                    yea

                                                                                                                    r)

                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                    A

                                                                                                                    BO

                                                                                                                    XF

                                                                                                                    G

                                                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                                                    The Choices Nations Make

                                                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                    bullProduce military goods or consumer goods

                                                                                                                    Economic Growth

                                                                                                                    2000 production possibilities

                                                                                                                    1900 production possibilities

                                                                                                                    OU

                                                                                                                    TP

                                                                                                                    UT

                                                                                                                    OF

                                                                                                                    CO

                                                                                                                    NS

                                                                                                                    UM

                                                                                                                    ER

                                                                                                                    GO

                                                                                                                    OD

                                                                                                                    S(u

                                                                                                                    nits

                                                                                                                    per

                                                                                                                    yea

                                                                                                                    r)

                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                    Production possibilities increases with more resources and technology

                                                                                                                    The Classic Guns and Butter example

                                                                                                                    Guns

                                                                                                                    Butter

                                                                                                                    10000 20000 30000 40000 50000

                                                                                                                    1000009500085000

                                                                                                                    70000

                                                                                                                    5000040000

                                                                                                                    BA

                                                                                                                    C

                                                                                                                    D

                                                                                                                    E

                                                                                                                    F

                                                                                                                    At point A all resources are used for butter

                                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                    At point F all resources are used for Guns

                                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                                    choices are

                                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                    Locations on a PPF

                                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                    Food

                                                                                                                    Computer

                                                                                                                    4

                                                                                                                    3

                                                                                                                    2

                                                                                                                    1

                                                                                                                    1 2 3 4

                                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                                    Unit

                                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                                    additional computers

                                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                    Principle of Increasing Costs

                                                                                                                    As a society produces more of one product the OC of producing

                                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                    Economic Systems

                                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                                    Jigsaw activity

                                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                                    bull Economic Freedom

                                                                                                                    bull Economic Efficiency

                                                                                                                    bull Economic Equity

                                                                                                                    bull Economic Security

                                                                                                                    Economic Stability

                                                                                                                    Economic Growth

                                                                                                                    Review of Economic Systems

                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                    What are the most important goals of each economic system

                                                                                                                    bullTraditionalSecurity and

                                                                                                                    StabilitybullCommand

                                                                                                                    Equity and Security

                                                                                                                    bullMARKETEfficiency and

                                                                                                                    Freedom

                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                    Which economic system does the US use

                                                                                                                    The American Economic System

                                                                                                                    bullWe have a mixed market economy

                                                                                                                    COMMAND MARKET

                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                    Think backhellip

                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                    2 Limited government

                                                                                                                    3 Equal opportunity

                                                                                                                    4 Competition

                                                                                                                    5 Profit motive

                                                                                                                    6 Property Rights

                                                                                                                    7 Binding Contracts

                                                                                                                    Understanding how all parts fit together

                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                    Shows interdependence between

                                                                                                                    businesses and individuals

                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                    Do you remember

                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                    democracy and mixed economy

                                                                                                                    • Foundations of Government and Economics
                                                                                                                    • On your blank piece of paperhellip
                                                                                                                    • Slide 3
                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                    • Introductory thoughts hellip
                                                                                                                    • Slide 6
                                                                                                                    • 2 How about to your life
                                                                                                                    • Slide 8
                                                                                                                    • Slide 9
                                                                                                                    • Slide 10
                                                                                                                    • Slide 11
                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                    • Economist and Politician Assumptions
                                                                                                                    • Individualism
                                                                                                                    • Quote activity
                                                                                                                    • Quote breakdown
                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                    • Purpose of Government
                                                                                                                    • Slide 20
                                                                                                                    • 3 Theorists
                                                                                                                    • Activity
                                                                                                                    • Origins of American Government A customized government
                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                    • With which theory do you agree more Why
                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                    • Groups Block 2
                                                                                                                    • Groups Block 4
                                                                                                                    • Balloon Game
                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                    • Balloon Game Debriefing
                                                                                                                    • Political Theories
                                                                                                                    • Social Contract
                                                                                                                    • Natural Rights
                                                                                                                    • Democracy
                                                                                                                    • Concepts of Government
                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                    • Warm Up 7
                                                                                                                    • And after the Constitution
                                                                                                                    • Activity (2)
                                                                                                                    • Picture Activity
                                                                                                                    • Constitutional Convention
                                                                                                                    • Purpose of the Convention
                                                                                                                    • VA Plan v NJ Plan
                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                    • Your Task
                                                                                                                    • Closure
                                                                                                                    • States agree
                                                                                                                    • Quote
                                                                                                                    • Structure of Constitution
                                                                                                                    • Structure of Constitution
                                                                                                                    • 6 Purpose of Government
                                                                                                                    • Structure of Constitution (2)
                                                                                                                    • Structure of Constitution (3)
                                                                                                                    • Principles of Constitution
                                                                                                                    • Activity
                                                                                                                    • Slide 60
                                                                                                                    • Check for Understanding Six Principles
                                                                                                                    • Question 1
                                                                                                                    • Question 2
                                                                                                                    • Question 3
                                                                                                                    • Question 4
                                                                                                                    • Question 5
                                                                                                                    • Question 6
                                                                                                                    • Question 7
                                                                                                                    • Question 8
                                                                                                                    • Groups
                                                                                                                    • Separation of Powers
                                                                                                                    • Video
                                                                                                                    • Checks and Balances
                                                                                                                    • Slide 74
                                                                                                                    • Checks and balances
                                                                                                                    • Basic Principles
                                                                                                                    • Self- Worth
                                                                                                                    • Equality
                                                                                                                    • Compromise
                                                                                                                    • Individual Freedom
                                                                                                                    • Write your ownhellip
                                                                                                                    • Slide 82
                                                                                                                    • TED Talk
                                                                                                                    • Closure
                                                                                                                    • What is Economics
                                                                                                                    • Economics ishellip
                                                                                                                    • Back to our assumptionshellip
                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                    • For the videohellip
                                                                                                                    • Slide 90
                                                                                                                    • Post Videohellip
                                                                                                                    • Advertisement
                                                                                                                    • Political Cartoon Analysis
                                                                                                                    • Factors of Production
                                                                                                                    • TASK
                                                                                                                    • The price ofhellip
                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                    • 1 What to produce
                                                                                                                    • 2 How to produce it
                                                                                                                    • 3 For whom to produce it
                                                                                                                    • Application Activity
                                                                                                                    • EQs
                                                                                                                    • Objectives amp Essential Questions
                                                                                                                    • Group Activity Budget Activity
                                                                                                                    • Slide 105
                                                                                                                    • How do we satisfy our economic wants
                                                                                                                    • How do we make goods amp services
                                                                                                                    • Economic Interdependence
                                                                                                                    • Slide 109
                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                    • Exampleshellip
                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                    • Opportunity Cost
                                                                                                                    • What else influences your choices
                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                    • ObjectivesEssential Questions
                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                    • Production Possibilities Frontier
                                                                                                                    • PPF Assumptions
                                                                                                                    • Slide 121
                                                                                                                    • Production Possibilities Curve
                                                                                                                    • The Choices Nations Make
                                                                                                                    • Economic Growth
                                                                                                                    • The Classic Guns and Butter example
                                                                                                                    • Productivity
                                                                                                                    • Locations on a PPF
                                                                                                                    • Slide 128
                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                    • Economic Systems
                                                                                                                    • Jigsaw activity
                                                                                                                    • Slide 132
                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                    • Review of Economic Systems
                                                                                                                    • Slide 135
                                                                                                                    • What are the most important goals of each economic system
                                                                                                                    • Which economic system does the US use
                                                                                                                    • The American Economic System
                                                                                                                    • The US mixed economy
                                                                                                                    • Slide 140
                                                                                                                    • Think backhellip
                                                                                                                    • US Economic System Characteristics
                                                                                                                    • Slide 143
                                                                                                                    • Understanding how all parts fit together
                                                                                                                    • Marriage Vows
                                                                                                                    • Do you remember
                                                                                                                    • Slide 147

                                                                                                                      Principle Explanation

                                                                                                                      Popular Sovereignty Idea that people are the source of all power held by the government

                                                                                                                      Limited Government Government possesses only the powers the people give itmdashit must obey the Constitution

                                                                                                                      Separation of Powers Establishes three separate branches that share the governmentrsquos power These branches are the executive the legislative and the judicial

                                                                                                                      Checks and Balances Ensures that none of the three branches can become too powerful Each branch has ways to limit the power of the other two (ex President veto power)

                                                                                                                      Judicial Review Power of the courts to decide what the Constitution means The courts also have the power to declare a government action to be against the Constitution (unconstitutional)

                                                                                                                      Federalism Divides the power between the central government and the States

                                                                                                                      Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                                      Question 1

                                                                                                                      bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                                      Popular Sovereignty

                                                                                                                      Question 2

                                                                                                                      bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                                      Limited Government

                                                                                                                      Question 3

                                                                                                                      bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                                      Limited Government

                                                                                                                      Question 4

                                                                                                                      bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                                      SEPARATION OF POWERS

                                                                                                                      Question 5

                                                                                                                      bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                      Checks and Balances

                                                                                                                      Question 6

                                                                                                                      bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                      CHECKS AND BALANCES

                                                                                                                      Question 7

                                                                                                                      bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                      JUDICIAL REVIEW

                                                                                                                      Question 8

                                                                                                                      bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                      Federalism

                                                                                                                      GroupsPopular

                                                                                                                      SovereigntySeparation of

                                                                                                                      PowersFederalism

                                                                                                                      bull bull bull

                                                                                                                      Judicial Review

                                                                                                                      Limited Government

                                                                                                                      Checks and Balances

                                                                                                                      bull bull bull

                                                                                                                      Separation of Powers

                                                                                                                      bull Legislative branchmdashmakes the laws

                                                                                                                      bull Executive branchmdashenforces the laws

                                                                                                                      bull Judicial branchmdashinterprets the law

                                                                                                                      Video

                                                                                                                      bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                      Checks and Balances

                                                                                                                      Checks and balances

                                                                                                                      bullIn what was do the branches check on one another

                                                                                                                      bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                      Basic Principles

                                                                                                                      bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                      Self- Worth

                                                                                                                      bull A recognition of the fundamental worth of every person

                                                                                                                      bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                      Compromise

                                                                                                                      bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                      bullWhy is compromise important

                                                                                                                      Individual Freedombull Right of the

                                                                                                                      individual to be free as far as the freedom of all will allow

                                                                                                                      bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                      Write your ownhellipbull Now that you know what the foundations of

                                                                                                                      government arehellip Create your own Constitution (Or social contract)

                                                                                                                      What do you think is important to include What do you think could be taken out

                                                                                                                      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                      Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                      change it)

                                                                                                                      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                      paper

                                                                                                                      TED Talk

                                                                                                                      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                      Closure

                                                                                                                      bullExplain two principles of the constitution and how are they connected

                                                                                                                      What is Economics

                                                                                                                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                      Important Parts of Economicsndash

                                                                                                                      CHOICESSCARCITY

                                                                                                                      Economics ishellip

                                                                                                                      bullDependent upon assumptions

                                                                                                                      bullDependent upon simplification of reality

                                                                                                                      Back to our assumptionshellip

                                                                                                                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                      bullAll sellers seek to maximize profits

                                                                                                                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                      For the videohellip

                                                                                                                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                      Post Videohellip

                                                                                                                      bullDefine the main idea of the video in 4-5 words

                                                                                                                      Advertisement

                                                                                                                      bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                      3 images that represent different economic ideas

                                                                                                                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                      1 slogan that represents why economics is an important course to take

                                                                                                                      Political Cartoon Analysis

                                                                                                                      Factors of Production bull LAND

                                                                                                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                      soil minerals water and plants

                                                                                                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                      into producing goodsservices

                                                                                                                      bull CAPITAL Includes tools machines buildings and

                                                                                                                      technologies

                                                                                                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                      land labor and capital to produce goods and services

                                                                                                                      TASK

                                                                                                                      bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                      bullAnswer in 2-3 sentences

                                                                                                                      The price ofhellip

                                                                                                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                      Economic efficiency is achieved when all available resources are being used

                                                                                                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                      1 What to produce

                                                                                                                      bullShould it be military or civilian goods

                                                                                                                      bullFood or clothingbullMedicine or movies

                                                                                                                      2 How to produce it

                                                                                                                      bullAutomated or manual labor

                                                                                                                      bullExpensive or cheap materials

                                                                                                                      bullDomestic or overseas labor

                                                                                                                      3 For whom to produce it

                                                                                                                      bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                      Application Activity

                                                                                                                      bull In groups of 2-3 create your own country (name it please)

                                                                                                                      bull With your countryrsquos name explain the Population geography and general population

                                                                                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                      withhellip Images representing what you produce and a

                                                                                                                      slogan for why your country is awesome

                                                                                                                      EQs

                                                                                                                      bullHow does scarcity impact decision making

                                                                                                                      Objectives amp Essential QuestionsbullObjectives

                                                                                                                      I will be able to create and reflect on a budget given new economics content

                                                                                                                      I will be able to understand scarcity and our mixed economy

                                                                                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                      Group Activity Budget Activity

                                                                                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                      How do we satisfy our economic wants

                                                                                                                      bull We buy goods or services

                                                                                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                      How do we make goods amp services

                                                                                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                      Production Equation

                                                                                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                      inputs output

                                                                                                                      Economic Interdependence

                                                                                                                      bullWhat does lsquointerdependencersquo mean

                                                                                                                      bullIs our world becoming economic interdependent or independent

                                                                                                                      bullEconomic Interdependence the actions of one part of the

                                                                                                                      country (world) has an impact on what happens elsewhere

                                                                                                                      Wants amp Needs gt

                                                                                                                      Resources

                                                                                                                      Because of scarcity we

                                                                                                                      have to make choices

                                                                                                                      How do we make a choice What do we give up

                                                                                                                      What does this remind you of from our government unit

                                                                                                                      Making Choices to Deal With Scarcity

                                                                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                      decision over another

                                                                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                      school today or should I sleep in

                                                                                                                      Task Reflecting on Personal Trade-offshellip

                                                                                                                      In the end what helped you decide amongst your choices

                                                                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                      tradeoffs for that decision

                                                                                                                      Be prepared to share

                                                                                                                      Opportunity Cost

                                                                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                                                                      we want

                                                                                                                      What else influences your choices

                                                                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                      FinallyhellipWhy it Matters

                                                                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                      better decision-maker

                                                                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                      You always have to give something uphelliprdquo

                                                                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                      decisions

                                                                                                                      Visualizing the Relationshiphellip

                                                                                                                      Limited Resources amp Unlimited Wants

                                                                                                                      Scarcity

                                                                                                                      Trade-offs (choices)

                                                                                                                      Opportunity Costs

                                                                                                                      ObjectivesEssential Questions

                                                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                                                      the three different types of economies

                                                                                                                      bullEssential Question How do the different types of economies work

                                                                                                                      How Can We Measure What We Gain and Lose When

                                                                                                                      Making Choices

                                                                                                                      Answer With a Production Possibilities Frontier

                                                                                                                      Production Possibilities Frontier

                                                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                      PPF Assumptions

                                                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                      Production Possibilities Curve

                                                                                                                      CD

                                                                                                                      E

                                                                                                                      OU

                                                                                                                      TP

                                                                                                                      UT

                                                                                                                      OF

                                                                                                                      CO

                                                                                                                      NS

                                                                                                                      UM

                                                                                                                      ER

                                                                                                                      GO

                                                                                                                      OD

                                                                                                                      S

                                                                                                                      (un

                                                                                                                      its

                                                                                                                      per

                                                                                                                      yea

                                                                                                                      r)

                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                      A

                                                                                                                      BO

                                                                                                                      XF

                                                                                                                      G

                                                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                                                      The Choices Nations Make

                                                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                      bullProduce military goods or consumer goods

                                                                                                                      Economic Growth

                                                                                                                      2000 production possibilities

                                                                                                                      1900 production possibilities

                                                                                                                      OU

                                                                                                                      TP

                                                                                                                      UT

                                                                                                                      OF

                                                                                                                      CO

                                                                                                                      NS

                                                                                                                      UM

                                                                                                                      ER

                                                                                                                      GO

                                                                                                                      OD

                                                                                                                      S(u

                                                                                                                      nits

                                                                                                                      per

                                                                                                                      yea

                                                                                                                      r)

                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                      Production possibilities increases with more resources and technology

                                                                                                                      The Classic Guns and Butter example

                                                                                                                      Guns

                                                                                                                      Butter

                                                                                                                      10000 20000 30000 40000 50000

                                                                                                                      1000009500085000

                                                                                                                      70000

                                                                                                                      5000040000

                                                                                                                      BA

                                                                                                                      C

                                                                                                                      D

                                                                                                                      E

                                                                                                                      F

                                                                                                                      At point A all resources are used for butter

                                                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                      At point F all resources are used for Guns

                                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                                      choices are

                                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                      Locations on a PPF

                                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                      Food

                                                                                                                      Computer

                                                                                                                      4

                                                                                                                      3

                                                                                                                      2

                                                                                                                      1

                                                                                                                      1 2 3 4

                                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                                      Unit

                                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                                      additional computers

                                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                      Principle of Increasing Costs

                                                                                                                      As a society produces more of one product the OC of producing

                                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                      Economic Systems

                                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                                      Jigsaw activity

                                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                                      bull Economic Freedom

                                                                                                                      bull Economic Efficiency

                                                                                                                      bull Economic Equity

                                                                                                                      bull Economic Security

                                                                                                                      Economic Stability

                                                                                                                      Economic Growth

                                                                                                                      Review of Economic Systems

                                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                      What are the most important goals of each economic system

                                                                                                                      bullTraditionalSecurity and

                                                                                                                      StabilitybullCommand

                                                                                                                      Equity and Security

                                                                                                                      bullMARKETEfficiency and

                                                                                                                      Freedom

                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                      Which economic system does the US use

                                                                                                                      The American Economic System

                                                                                                                      bullWe have a mixed market economy

                                                                                                                      COMMAND MARKET

                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                      Think backhellip

                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                      2 Limited government

                                                                                                                      3 Equal opportunity

                                                                                                                      4 Competition

                                                                                                                      5 Profit motive

                                                                                                                      6 Property Rights

                                                                                                                      7 Binding Contracts

                                                                                                                      Understanding how all parts fit together

                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                      Shows interdependence between

                                                                                                                      businesses and individuals

                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                      Do you remember

                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                      democracy and mixed economy

                                                                                                                      • Foundations of Government and Economics
                                                                                                                      • On your blank piece of paperhellip
                                                                                                                      • Slide 3
                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                      • Introductory thoughts hellip
                                                                                                                      • Slide 6
                                                                                                                      • 2 How about to your life
                                                                                                                      • Slide 8
                                                                                                                      • Slide 9
                                                                                                                      • Slide 10
                                                                                                                      • Slide 11
                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                      • Economist and Politician Assumptions
                                                                                                                      • Individualism
                                                                                                                      • Quote activity
                                                                                                                      • Quote breakdown
                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                      • Purpose of Government
                                                                                                                      • Slide 20
                                                                                                                      • 3 Theorists
                                                                                                                      • Activity
                                                                                                                      • Origins of American Government A customized government
                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                      • With which theory do you agree more Why
                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                      • Groups Block 2
                                                                                                                      • Groups Block 4
                                                                                                                      • Balloon Game
                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                      • Balloon Game Debriefing
                                                                                                                      • Political Theories
                                                                                                                      • Social Contract
                                                                                                                      • Natural Rights
                                                                                                                      • Democracy
                                                                                                                      • Concepts of Government
                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                      • Warm Up 7
                                                                                                                      • And after the Constitution
                                                                                                                      • Activity (2)
                                                                                                                      • Picture Activity
                                                                                                                      • Constitutional Convention
                                                                                                                      • Purpose of the Convention
                                                                                                                      • VA Plan v NJ Plan
                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                      • Your Task
                                                                                                                      • Closure
                                                                                                                      • States agree
                                                                                                                      • Quote
                                                                                                                      • Structure of Constitution
                                                                                                                      • Structure of Constitution
                                                                                                                      • 6 Purpose of Government
                                                                                                                      • Structure of Constitution (2)
                                                                                                                      • Structure of Constitution (3)
                                                                                                                      • Principles of Constitution
                                                                                                                      • Activity
                                                                                                                      • Slide 60
                                                                                                                      • Check for Understanding Six Principles
                                                                                                                      • Question 1
                                                                                                                      • Question 2
                                                                                                                      • Question 3
                                                                                                                      • Question 4
                                                                                                                      • Question 5
                                                                                                                      • Question 6
                                                                                                                      • Question 7
                                                                                                                      • Question 8
                                                                                                                      • Groups
                                                                                                                      • Separation of Powers
                                                                                                                      • Video
                                                                                                                      • Checks and Balances
                                                                                                                      • Slide 74
                                                                                                                      • Checks and balances
                                                                                                                      • Basic Principles
                                                                                                                      • Self- Worth
                                                                                                                      • Equality
                                                                                                                      • Compromise
                                                                                                                      • Individual Freedom
                                                                                                                      • Write your ownhellip
                                                                                                                      • Slide 82
                                                                                                                      • TED Talk
                                                                                                                      • Closure
                                                                                                                      • What is Economics
                                                                                                                      • Economics ishellip
                                                                                                                      • Back to our assumptionshellip
                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                      • For the videohellip
                                                                                                                      • Slide 90
                                                                                                                      • Post Videohellip
                                                                                                                      • Advertisement
                                                                                                                      • Political Cartoon Analysis
                                                                                                                      • Factors of Production
                                                                                                                      • TASK
                                                                                                                      • The price ofhellip
                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                      • 1 What to produce
                                                                                                                      • 2 How to produce it
                                                                                                                      • 3 For whom to produce it
                                                                                                                      • Application Activity
                                                                                                                      • EQs
                                                                                                                      • Objectives amp Essential Questions
                                                                                                                      • Group Activity Budget Activity
                                                                                                                      • Slide 105
                                                                                                                      • How do we satisfy our economic wants
                                                                                                                      • How do we make goods amp services
                                                                                                                      • Economic Interdependence
                                                                                                                      • Slide 109
                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                      • Exampleshellip
                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                      • Opportunity Cost
                                                                                                                      • What else influences your choices
                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                      • ObjectivesEssential Questions
                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                      • Production Possibilities Frontier
                                                                                                                      • PPF Assumptions
                                                                                                                      • Slide 121
                                                                                                                      • Production Possibilities Curve
                                                                                                                      • The Choices Nations Make
                                                                                                                      • Economic Growth
                                                                                                                      • The Classic Guns and Butter example
                                                                                                                      • Productivity
                                                                                                                      • Locations on a PPF
                                                                                                                      • Slide 128
                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                      • Economic Systems
                                                                                                                      • Jigsaw activity
                                                                                                                      • Slide 132
                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                      • Review of Economic Systems
                                                                                                                      • Slide 135
                                                                                                                      • What are the most important goals of each economic system
                                                                                                                      • Which economic system does the US use
                                                                                                                      • The American Economic System
                                                                                                                      • The US mixed economy
                                                                                                                      • Slide 140
                                                                                                                      • Think backhellip
                                                                                                                      • US Economic System Characteristics
                                                                                                                      • Slide 143
                                                                                                                      • Understanding how all parts fit together
                                                                                                                      • Marriage Vows
                                                                                                                      • Do you remember
                                                                                                                      • Slide 147

                                                                                                                        Check for UnderstandingSix PrinciplesNumber your paper from 1 - 8

                                                                                                                        Question 1

                                                                                                                        bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                                        Popular Sovereignty

                                                                                                                        Question 2

                                                                                                                        bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                                        Limited Government

                                                                                                                        Question 3

                                                                                                                        bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                                        Limited Government

                                                                                                                        Question 4

                                                                                                                        bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                                        SEPARATION OF POWERS

                                                                                                                        Question 5

                                                                                                                        bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                        Checks and Balances

                                                                                                                        Question 6

                                                                                                                        bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                        CHECKS AND BALANCES

                                                                                                                        Question 7

                                                                                                                        bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                        JUDICIAL REVIEW

                                                                                                                        Question 8

                                                                                                                        bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                        Federalism

                                                                                                                        GroupsPopular

                                                                                                                        SovereigntySeparation of

                                                                                                                        PowersFederalism

                                                                                                                        bull bull bull

                                                                                                                        Judicial Review

                                                                                                                        Limited Government

                                                                                                                        Checks and Balances

                                                                                                                        bull bull bull

                                                                                                                        Separation of Powers

                                                                                                                        bull Legislative branchmdashmakes the laws

                                                                                                                        bull Executive branchmdashenforces the laws

                                                                                                                        bull Judicial branchmdashinterprets the law

                                                                                                                        Video

                                                                                                                        bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                        Checks and Balances

                                                                                                                        Checks and balances

                                                                                                                        bullIn what was do the branches check on one another

                                                                                                                        bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                        Basic Principles

                                                                                                                        bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                        Self- Worth

                                                                                                                        bull A recognition of the fundamental worth of every person

                                                                                                                        bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                        Compromise

                                                                                                                        bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                        bullWhy is compromise important

                                                                                                                        Individual Freedombull Right of the

                                                                                                                        individual to be free as far as the freedom of all will allow

                                                                                                                        bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                        Write your ownhellipbull Now that you know what the foundations of

                                                                                                                        government arehellip Create your own Constitution (Or social contract)

                                                                                                                        What do you think is important to include What do you think could be taken out

                                                                                                                        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                        Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                        change it)

                                                                                                                        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                        paper

                                                                                                                        TED Talk

                                                                                                                        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                        Closure

                                                                                                                        bullExplain two principles of the constitution and how are they connected

                                                                                                                        What is Economics

                                                                                                                        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                        Important Parts of Economicsndash

                                                                                                                        CHOICESSCARCITY

                                                                                                                        Economics ishellip

                                                                                                                        bullDependent upon assumptions

                                                                                                                        bullDependent upon simplification of reality

                                                                                                                        Back to our assumptionshellip

                                                                                                                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                        bullAll sellers seek to maximize profits

                                                                                                                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                        For the videohellip

                                                                                                                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                        Post Videohellip

                                                                                                                        bullDefine the main idea of the video in 4-5 words

                                                                                                                        Advertisement

                                                                                                                        bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                        3 images that represent different economic ideas

                                                                                                                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                        1 slogan that represents why economics is an important course to take

                                                                                                                        Political Cartoon Analysis

                                                                                                                        Factors of Production bull LAND

                                                                                                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                        soil minerals water and plants

                                                                                                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                        into producing goodsservices

                                                                                                                        bull CAPITAL Includes tools machines buildings and

                                                                                                                        technologies

                                                                                                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                        land labor and capital to produce goods and services

                                                                                                                        TASK

                                                                                                                        bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                        bullAnswer in 2-3 sentences

                                                                                                                        The price ofhellip

                                                                                                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                        Economic efficiency is achieved when all available resources are being used

                                                                                                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                        1 What to produce

                                                                                                                        bullShould it be military or civilian goods

                                                                                                                        bullFood or clothingbullMedicine or movies

                                                                                                                        2 How to produce it

                                                                                                                        bullAutomated or manual labor

                                                                                                                        bullExpensive or cheap materials

                                                                                                                        bullDomestic or overseas labor

                                                                                                                        3 For whom to produce it

                                                                                                                        bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                        Application Activity

                                                                                                                        bull In groups of 2-3 create your own country (name it please)

                                                                                                                        bull With your countryrsquos name explain the Population geography and general population

                                                                                                                        information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                        answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                        withhellip Images representing what you produce and a

                                                                                                                        slogan for why your country is awesome

                                                                                                                        EQs

                                                                                                                        bullHow does scarcity impact decision making

                                                                                                                        Objectives amp Essential QuestionsbullObjectives

                                                                                                                        I will be able to create and reflect on a budget given new economics content

                                                                                                                        I will be able to understand scarcity and our mixed economy

                                                                                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                        Group Activity Budget Activity

                                                                                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                        How do we satisfy our economic wants

                                                                                                                        bull We buy goods or services

                                                                                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                        How do we make goods amp services

                                                                                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                        Production Equation

                                                                                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                        inputs output

                                                                                                                        Economic Interdependence

                                                                                                                        bullWhat does lsquointerdependencersquo mean

                                                                                                                        bullIs our world becoming economic interdependent or independent

                                                                                                                        bullEconomic Interdependence the actions of one part of the

                                                                                                                        country (world) has an impact on what happens elsewhere

                                                                                                                        Wants amp Needs gt

                                                                                                                        Resources

                                                                                                                        Because of scarcity we

                                                                                                                        have to make choices

                                                                                                                        How do we make a choice What do we give up

                                                                                                                        What does this remind you of from our government unit

                                                                                                                        Making Choices to Deal With Scarcity

                                                                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                        decision over another

                                                                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                        school today or should I sleep in

                                                                                                                        Task Reflecting on Personal Trade-offshellip

                                                                                                                        In the end what helped you decide amongst your choices

                                                                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                        tradeoffs for that decision

                                                                                                                        Be prepared to share

                                                                                                                        Opportunity Cost

                                                                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                                                                        we want

                                                                                                                        What else influences your choices

                                                                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                        FinallyhellipWhy it Matters

                                                                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                        better decision-maker

                                                                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                        You always have to give something uphelliprdquo

                                                                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                        decisions

                                                                                                                        Visualizing the Relationshiphellip

                                                                                                                        Limited Resources amp Unlimited Wants

                                                                                                                        Scarcity

                                                                                                                        Trade-offs (choices)

                                                                                                                        Opportunity Costs

                                                                                                                        ObjectivesEssential Questions

                                                                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                                                                        the three different types of economies

                                                                                                                        bullEssential Question How do the different types of economies work

                                                                                                                        How Can We Measure What We Gain and Lose When

                                                                                                                        Making Choices

                                                                                                                        Answer With a Production Possibilities Frontier

                                                                                                                        Production Possibilities Frontier

                                                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                        PPF Assumptions

                                                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                        Production Possibilities Curve

                                                                                                                        CD

                                                                                                                        E

                                                                                                                        OU

                                                                                                                        TP

                                                                                                                        UT

                                                                                                                        OF

                                                                                                                        CO

                                                                                                                        NS

                                                                                                                        UM

                                                                                                                        ER

                                                                                                                        GO

                                                                                                                        OD

                                                                                                                        S

                                                                                                                        (un

                                                                                                                        its

                                                                                                                        per

                                                                                                                        yea

                                                                                                                        r)

                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                        A

                                                                                                                        BO

                                                                                                                        XF

                                                                                                                        G

                                                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                                                        The Choices Nations Make

                                                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                        bullProduce military goods or consumer goods

                                                                                                                        Economic Growth

                                                                                                                        2000 production possibilities

                                                                                                                        1900 production possibilities

                                                                                                                        OU

                                                                                                                        TP

                                                                                                                        UT

                                                                                                                        OF

                                                                                                                        CO

                                                                                                                        NS

                                                                                                                        UM

                                                                                                                        ER

                                                                                                                        GO

                                                                                                                        OD

                                                                                                                        S(u

                                                                                                                        nits

                                                                                                                        per

                                                                                                                        yea

                                                                                                                        r)

                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                        Production possibilities increases with more resources and technology

                                                                                                                        The Classic Guns and Butter example

                                                                                                                        Guns

                                                                                                                        Butter

                                                                                                                        10000 20000 30000 40000 50000

                                                                                                                        1000009500085000

                                                                                                                        70000

                                                                                                                        5000040000

                                                                                                                        BA

                                                                                                                        C

                                                                                                                        D

                                                                                                                        E

                                                                                                                        F

                                                                                                                        At point A all resources are used for butter

                                                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                        At point F all resources are used for Guns

                                                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                                                        choices are

                                                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                        Locations on a PPF

                                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                        Food

                                                                                                                        Computer

                                                                                                                        4

                                                                                                                        3

                                                                                                                        2

                                                                                                                        1

                                                                                                                        1 2 3 4

                                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                                        Unit

                                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                                        additional computers

                                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                        Principle of Increasing Costs

                                                                                                                        As a society produces more of one product the OC of producing

                                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                        Economic Systems

                                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                                        Jigsaw activity

                                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                                        bull Economic Freedom

                                                                                                                        bull Economic Efficiency

                                                                                                                        bull Economic Equity

                                                                                                                        bull Economic Security

                                                                                                                        Economic Stability

                                                                                                                        Economic Growth

                                                                                                                        Review of Economic Systems

                                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                        What are the most important goals of each economic system

                                                                                                                        bullTraditionalSecurity and

                                                                                                                        StabilitybullCommand

                                                                                                                        Equity and Security

                                                                                                                        bullMARKETEfficiency and

                                                                                                                        Freedom

                                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                                        Which economic system does the US use

                                                                                                                        The American Economic System

                                                                                                                        bullWe have a mixed market economy

                                                                                                                        COMMAND MARKET

                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                        Think backhellip

                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                        2 Limited government

                                                                                                                        3 Equal opportunity

                                                                                                                        4 Competition

                                                                                                                        5 Profit motive

                                                                                                                        6 Property Rights

                                                                                                                        7 Binding Contracts

                                                                                                                        Understanding how all parts fit together

                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                        Shows interdependence between

                                                                                                                        businesses and individuals

                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                        Do you remember

                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                        democracy and mixed economy

                                                                                                                        • Foundations of Government and Economics
                                                                                                                        • On your blank piece of paperhellip
                                                                                                                        • Slide 3
                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                        • Introductory thoughts hellip
                                                                                                                        • Slide 6
                                                                                                                        • 2 How about to your life
                                                                                                                        • Slide 8
                                                                                                                        • Slide 9
                                                                                                                        • Slide 10
                                                                                                                        • Slide 11
                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                        • Economist and Politician Assumptions
                                                                                                                        • Individualism
                                                                                                                        • Quote activity
                                                                                                                        • Quote breakdown
                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                        • Purpose of Government
                                                                                                                        • Slide 20
                                                                                                                        • 3 Theorists
                                                                                                                        • Activity
                                                                                                                        • Origins of American Government A customized government
                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                        • With which theory do you agree more Why
                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                        • Groups Block 2
                                                                                                                        • Groups Block 4
                                                                                                                        • Balloon Game
                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                        • Balloon Game Debriefing
                                                                                                                        • Political Theories
                                                                                                                        • Social Contract
                                                                                                                        • Natural Rights
                                                                                                                        • Democracy
                                                                                                                        • Concepts of Government
                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                        • Warm Up 7
                                                                                                                        • And after the Constitution
                                                                                                                        • Activity (2)
                                                                                                                        • Picture Activity
                                                                                                                        • Constitutional Convention
                                                                                                                        • Purpose of the Convention
                                                                                                                        • VA Plan v NJ Plan
                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                        • Your Task
                                                                                                                        • Closure
                                                                                                                        • States agree
                                                                                                                        • Quote
                                                                                                                        • Structure of Constitution
                                                                                                                        • Structure of Constitution
                                                                                                                        • 6 Purpose of Government
                                                                                                                        • Structure of Constitution (2)
                                                                                                                        • Structure of Constitution (3)
                                                                                                                        • Principles of Constitution
                                                                                                                        • Activity
                                                                                                                        • Slide 60
                                                                                                                        • Check for Understanding Six Principles
                                                                                                                        • Question 1
                                                                                                                        • Question 2
                                                                                                                        • Question 3
                                                                                                                        • Question 4
                                                                                                                        • Question 5
                                                                                                                        • Question 6
                                                                                                                        • Question 7
                                                                                                                        • Question 8
                                                                                                                        • Groups
                                                                                                                        • Separation of Powers
                                                                                                                        • Video
                                                                                                                        • Checks and Balances
                                                                                                                        • Slide 74
                                                                                                                        • Checks and balances
                                                                                                                        • Basic Principles
                                                                                                                        • Self- Worth
                                                                                                                        • Equality
                                                                                                                        • Compromise
                                                                                                                        • Individual Freedom
                                                                                                                        • Write your ownhellip
                                                                                                                        • Slide 82
                                                                                                                        • TED Talk
                                                                                                                        • Closure
                                                                                                                        • What is Economics
                                                                                                                        • Economics ishellip
                                                                                                                        • Back to our assumptionshellip
                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                        • For the videohellip
                                                                                                                        • Slide 90
                                                                                                                        • Post Videohellip
                                                                                                                        • Advertisement
                                                                                                                        • Political Cartoon Analysis
                                                                                                                        • Factors of Production
                                                                                                                        • TASK
                                                                                                                        • The price ofhellip
                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                        • 1 What to produce
                                                                                                                        • 2 How to produce it
                                                                                                                        • 3 For whom to produce it
                                                                                                                        • Application Activity
                                                                                                                        • EQs
                                                                                                                        • Objectives amp Essential Questions
                                                                                                                        • Group Activity Budget Activity
                                                                                                                        • Slide 105
                                                                                                                        • How do we satisfy our economic wants
                                                                                                                        • How do we make goods amp services
                                                                                                                        • Economic Interdependence
                                                                                                                        • Slide 109
                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                        • Exampleshellip
                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                        • Opportunity Cost
                                                                                                                        • What else influences your choices
                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                        • ObjectivesEssential Questions
                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                        • Production Possibilities Frontier
                                                                                                                        • PPF Assumptions
                                                                                                                        • Slide 121
                                                                                                                        • Production Possibilities Curve
                                                                                                                        • The Choices Nations Make
                                                                                                                        • Economic Growth
                                                                                                                        • The Classic Guns and Butter example
                                                                                                                        • Productivity
                                                                                                                        • Locations on a PPF
                                                                                                                        • Slide 128
                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                        • Economic Systems
                                                                                                                        • Jigsaw activity
                                                                                                                        • Slide 132
                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                        • Review of Economic Systems
                                                                                                                        • Slide 135
                                                                                                                        • What are the most important goals of each economic system
                                                                                                                        • Which economic system does the US use
                                                                                                                        • The American Economic System
                                                                                                                        • The US mixed economy
                                                                                                                        • Slide 140
                                                                                                                        • Think backhellip
                                                                                                                        • US Economic System Characteristics
                                                                                                                        • Slide 143
                                                                                                                        • Understanding how all parts fit together
                                                                                                                        • Marriage Vows
                                                                                                                        • Do you remember
                                                                                                                        • Slide 147

                                                                                                                          Question 1

                                                                                                                          bullldquoWe the people of the United Stateshellipdo ordain and establish this Constitution for the United States of Americardquo

                                                                                                                          Popular Sovereignty

                                                                                                                          Question 2

                                                                                                                          bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                                          Limited Government

                                                                                                                          Question 3

                                                                                                                          bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                                          Limited Government

                                                                                                                          Question 4

                                                                                                                          bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                                          SEPARATION OF POWERS

                                                                                                                          Question 5

                                                                                                                          bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                          Checks and Balances

                                                                                                                          Question 6

                                                                                                                          bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                          CHECKS AND BALANCES

                                                                                                                          Question 7

                                                                                                                          bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                          JUDICIAL REVIEW

                                                                                                                          Question 8

                                                                                                                          bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                          Federalism

                                                                                                                          GroupsPopular

                                                                                                                          SovereigntySeparation of

                                                                                                                          PowersFederalism

                                                                                                                          bull bull bull

                                                                                                                          Judicial Review

                                                                                                                          Limited Government

                                                                                                                          Checks and Balances

                                                                                                                          bull bull bull

                                                                                                                          Separation of Powers

                                                                                                                          bull Legislative branchmdashmakes the laws

                                                                                                                          bull Executive branchmdashenforces the laws

                                                                                                                          bull Judicial branchmdashinterprets the law

                                                                                                                          Video

                                                                                                                          bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                          Checks and Balances

                                                                                                                          Checks and balances

                                                                                                                          bullIn what was do the branches check on one another

                                                                                                                          bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                          Basic Principles

                                                                                                                          bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                          Self- Worth

                                                                                                                          bull A recognition of the fundamental worth of every person

                                                                                                                          bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                          Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                          bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                          bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                          Compromise

                                                                                                                          bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                          bullWhy is compromise important

                                                                                                                          Individual Freedombull Right of the

                                                                                                                          individual to be free as far as the freedom of all will allow

                                                                                                                          bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                          Write your ownhellipbull Now that you know what the foundations of

                                                                                                                          government arehellip Create your own Constitution (Or social contract)

                                                                                                                          What do you think is important to include What do you think could be taken out

                                                                                                                          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                          Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                          change it)

                                                                                                                          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                          paper

                                                                                                                          TED Talk

                                                                                                                          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                          Closure

                                                                                                                          bullExplain two principles of the constitution and how are they connected

                                                                                                                          What is Economics

                                                                                                                          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                          Important Parts of Economicsndash

                                                                                                                          CHOICESSCARCITY

                                                                                                                          Economics ishellip

                                                                                                                          bullDependent upon assumptions

                                                                                                                          bullDependent upon simplification of reality

                                                                                                                          Back to our assumptionshellip

                                                                                                                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                          bullAll sellers seek to maximize profits

                                                                                                                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                          For the videohellip

                                                                                                                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                          Post Videohellip

                                                                                                                          bullDefine the main idea of the video in 4-5 words

                                                                                                                          Advertisement

                                                                                                                          bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                          3 images that represent different economic ideas

                                                                                                                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                          1 slogan that represents why economics is an important course to take

                                                                                                                          Political Cartoon Analysis

                                                                                                                          Factors of Production bull LAND

                                                                                                                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                          soil minerals water and plants

                                                                                                                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                          into producing goodsservices

                                                                                                                          bull CAPITAL Includes tools machines buildings and

                                                                                                                          technologies

                                                                                                                          bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                          land labor and capital to produce goods and services

                                                                                                                          TASK

                                                                                                                          bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                          bullAnswer in 2-3 sentences

                                                                                                                          The price ofhellip

                                                                                                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                          Economic efficiency is achieved when all available resources are being used

                                                                                                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                          1 What to produce

                                                                                                                          bullShould it be military or civilian goods

                                                                                                                          bullFood or clothingbullMedicine or movies

                                                                                                                          2 How to produce it

                                                                                                                          bullAutomated or manual labor

                                                                                                                          bullExpensive or cheap materials

                                                                                                                          bullDomestic or overseas labor

                                                                                                                          3 For whom to produce it

                                                                                                                          bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                          Application Activity

                                                                                                                          bull In groups of 2-3 create your own country (name it please)

                                                                                                                          bull With your countryrsquos name explain the Population geography and general population

                                                                                                                          information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                          answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                          withhellip Images representing what you produce and a

                                                                                                                          slogan for why your country is awesome

                                                                                                                          EQs

                                                                                                                          bullHow does scarcity impact decision making

                                                                                                                          Objectives amp Essential QuestionsbullObjectives

                                                                                                                          I will be able to create and reflect on a budget given new economics content

                                                                                                                          I will be able to understand scarcity and our mixed economy

                                                                                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                          Group Activity Budget Activity

                                                                                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                          How do we satisfy our economic wants

                                                                                                                          bull We buy goods or services

                                                                                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                          How do we make goods amp services

                                                                                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                          Production Equation

                                                                                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                          inputs output

                                                                                                                          Economic Interdependence

                                                                                                                          bullWhat does lsquointerdependencersquo mean

                                                                                                                          bullIs our world becoming economic interdependent or independent

                                                                                                                          bullEconomic Interdependence the actions of one part of the

                                                                                                                          country (world) has an impact on what happens elsewhere

                                                                                                                          Wants amp Needs gt

                                                                                                                          Resources

                                                                                                                          Because of scarcity we

                                                                                                                          have to make choices

                                                                                                                          How do we make a choice What do we give up

                                                                                                                          What does this remind you of from our government unit

                                                                                                                          Making Choices to Deal With Scarcity

                                                                                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                          decision over another

                                                                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                          school today or should I sleep in

                                                                                                                          Task Reflecting on Personal Trade-offshellip

                                                                                                                          In the end what helped you decide amongst your choices

                                                                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                          tradeoffs for that decision

                                                                                                                          Be prepared to share

                                                                                                                          Opportunity Cost

                                                                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                                                                          we want

                                                                                                                          What else influences your choices

                                                                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                          FinallyhellipWhy it Matters

                                                                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                          better decision-maker

                                                                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                          You always have to give something uphelliprdquo

                                                                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                          decisions

                                                                                                                          Visualizing the Relationshiphellip

                                                                                                                          Limited Resources amp Unlimited Wants

                                                                                                                          Scarcity

                                                                                                                          Trade-offs (choices)

                                                                                                                          Opportunity Costs

                                                                                                                          ObjectivesEssential Questions

                                                                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                                                                          the three different types of economies

                                                                                                                          bullEssential Question How do the different types of economies work

                                                                                                                          How Can We Measure What We Gain and Lose When

                                                                                                                          Making Choices

                                                                                                                          Answer With a Production Possibilities Frontier

                                                                                                                          Production Possibilities Frontier

                                                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                          PPF Assumptions

                                                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                          Production Possibilities Curve

                                                                                                                          CD

                                                                                                                          E

                                                                                                                          OU

                                                                                                                          TP

                                                                                                                          UT

                                                                                                                          OF

                                                                                                                          CO

                                                                                                                          NS

                                                                                                                          UM

                                                                                                                          ER

                                                                                                                          GO

                                                                                                                          OD

                                                                                                                          S

                                                                                                                          (un

                                                                                                                          its

                                                                                                                          per

                                                                                                                          yea

                                                                                                                          r)

                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                          A

                                                                                                                          BO

                                                                                                                          XF

                                                                                                                          G

                                                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                                                          The Choices Nations Make

                                                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                          bullProduce military goods or consumer goods

                                                                                                                          Economic Growth

                                                                                                                          2000 production possibilities

                                                                                                                          1900 production possibilities

                                                                                                                          OU

                                                                                                                          TP

                                                                                                                          UT

                                                                                                                          OF

                                                                                                                          CO

                                                                                                                          NS

                                                                                                                          UM

                                                                                                                          ER

                                                                                                                          GO

                                                                                                                          OD

                                                                                                                          S(u

                                                                                                                          nits

                                                                                                                          per

                                                                                                                          yea

                                                                                                                          r)

                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                          Production possibilities increases with more resources and technology

                                                                                                                          The Classic Guns and Butter example

                                                                                                                          Guns

                                                                                                                          Butter

                                                                                                                          10000 20000 30000 40000 50000

                                                                                                                          1000009500085000

                                                                                                                          70000

                                                                                                                          5000040000

                                                                                                                          BA

                                                                                                                          C

                                                                                                                          D

                                                                                                                          E

                                                                                                                          F

                                                                                                                          At point A all resources are used for butter

                                                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                          At point F all resources are used for Guns

                                                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                                                          choices are

                                                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                          Locations on a PPF

                                                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                          Food

                                                                                                                          Computer

                                                                                                                          4

                                                                                                                          3

                                                                                                                          2

                                                                                                                          1

                                                                                                                          1 2 3 4

                                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                                          Unit

                                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                                          additional computers

                                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                          Principle of Increasing Costs

                                                                                                                          As a society produces more of one product the OC of producing

                                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                          Economic Systems

                                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                                          Jigsaw activity

                                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                                          bull Economic Freedom

                                                                                                                          bull Economic Efficiency

                                                                                                                          bull Economic Equity

                                                                                                                          bull Economic Security

                                                                                                                          Economic Stability

                                                                                                                          Economic Growth

                                                                                                                          Review of Economic Systems

                                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                          What are the most important goals of each economic system

                                                                                                                          bullTraditionalSecurity and

                                                                                                                          StabilitybullCommand

                                                                                                                          Equity and Security

                                                                                                                          bullMARKETEfficiency and

                                                                                                                          Freedom

                                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                                          Which economic system does the US use

                                                                                                                          The American Economic System

                                                                                                                          bullWe have a mixed market economy

                                                                                                                          COMMAND MARKET

                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                          Think backhellip

                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                          2 Limited government

                                                                                                                          3 Equal opportunity

                                                                                                                          4 Competition

                                                                                                                          5 Profit motive

                                                                                                                          6 Property Rights

                                                                                                                          7 Binding Contracts

                                                                                                                          Understanding how all parts fit together

                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                          Shows interdependence between

                                                                                                                          businesses and individuals

                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                          Do you remember

                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                          democracy and mixed economy

                                                                                                                          • Foundations of Government and Economics
                                                                                                                          • On your blank piece of paperhellip
                                                                                                                          • Slide 3
                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                          • Introductory thoughts hellip
                                                                                                                          • Slide 6
                                                                                                                          • 2 How about to your life
                                                                                                                          • Slide 8
                                                                                                                          • Slide 9
                                                                                                                          • Slide 10
                                                                                                                          • Slide 11
                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                          • Economist and Politician Assumptions
                                                                                                                          • Individualism
                                                                                                                          • Quote activity
                                                                                                                          • Quote breakdown
                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                          • Purpose of Government
                                                                                                                          • Slide 20
                                                                                                                          • 3 Theorists
                                                                                                                          • Activity
                                                                                                                          • Origins of American Government A customized government
                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                          • With which theory do you agree more Why
                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                          • Groups Block 2
                                                                                                                          • Groups Block 4
                                                                                                                          • Balloon Game
                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                          • Balloon Game Debriefing
                                                                                                                          • Political Theories
                                                                                                                          • Social Contract
                                                                                                                          • Natural Rights
                                                                                                                          • Democracy
                                                                                                                          • Concepts of Government
                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                          • Warm Up 7
                                                                                                                          • And after the Constitution
                                                                                                                          • Activity (2)
                                                                                                                          • Picture Activity
                                                                                                                          • Constitutional Convention
                                                                                                                          • Purpose of the Convention
                                                                                                                          • VA Plan v NJ Plan
                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                          • Your Task
                                                                                                                          • Closure
                                                                                                                          • States agree
                                                                                                                          • Quote
                                                                                                                          • Structure of Constitution
                                                                                                                          • Structure of Constitution
                                                                                                                          • 6 Purpose of Government
                                                                                                                          • Structure of Constitution (2)
                                                                                                                          • Structure of Constitution (3)
                                                                                                                          • Principles of Constitution
                                                                                                                          • Activity
                                                                                                                          • Slide 60
                                                                                                                          • Check for Understanding Six Principles
                                                                                                                          • Question 1
                                                                                                                          • Question 2
                                                                                                                          • Question 3
                                                                                                                          • Question 4
                                                                                                                          • Question 5
                                                                                                                          • Question 6
                                                                                                                          • Question 7
                                                                                                                          • Question 8
                                                                                                                          • Groups
                                                                                                                          • Separation of Powers
                                                                                                                          • Video
                                                                                                                          • Checks and Balances
                                                                                                                          • Slide 74
                                                                                                                          • Checks and balances
                                                                                                                          • Basic Principles
                                                                                                                          • Self- Worth
                                                                                                                          • Equality
                                                                                                                          • Compromise
                                                                                                                          • Individual Freedom
                                                                                                                          • Write your ownhellip
                                                                                                                          • Slide 82
                                                                                                                          • TED Talk
                                                                                                                          • Closure
                                                                                                                          • What is Economics
                                                                                                                          • Economics ishellip
                                                                                                                          • Back to our assumptionshellip
                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                          • For the videohellip
                                                                                                                          • Slide 90
                                                                                                                          • Post Videohellip
                                                                                                                          • Advertisement
                                                                                                                          • Political Cartoon Analysis
                                                                                                                          • Factors of Production
                                                                                                                          • TASK
                                                                                                                          • The price ofhellip
                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                          • 1 What to produce
                                                                                                                          • 2 How to produce it
                                                                                                                          • 3 For whom to produce it
                                                                                                                          • Application Activity
                                                                                                                          • EQs
                                                                                                                          • Objectives amp Essential Questions
                                                                                                                          • Group Activity Budget Activity
                                                                                                                          • Slide 105
                                                                                                                          • How do we satisfy our economic wants
                                                                                                                          • How do we make goods amp services
                                                                                                                          • Economic Interdependence
                                                                                                                          • Slide 109
                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                          • Exampleshellip
                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                          • Opportunity Cost
                                                                                                                          • What else influences your choices
                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                          • ObjectivesEssential Questions
                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                          • Production Possibilities Frontier
                                                                                                                          • PPF Assumptions
                                                                                                                          • Slide 121
                                                                                                                          • Production Possibilities Curve
                                                                                                                          • The Choices Nations Make
                                                                                                                          • Economic Growth
                                                                                                                          • The Classic Guns and Butter example
                                                                                                                          • Productivity
                                                                                                                          • Locations on a PPF
                                                                                                                          • Slide 128
                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                          • Economic Systems
                                                                                                                          • Jigsaw activity
                                                                                                                          • Slide 132
                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                          • Review of Economic Systems
                                                                                                                          • Slide 135
                                                                                                                          • What are the most important goals of each economic system
                                                                                                                          • Which economic system does the US use
                                                                                                                          • The American Economic System
                                                                                                                          • The US mixed economy
                                                                                                                          • Slide 140
                                                                                                                          • Think backhellip
                                                                                                                          • US Economic System Characteristics
                                                                                                                          • Slide 143
                                                                                                                          • Understanding how all parts fit together
                                                                                                                          • Marriage Vows
                                                                                                                          • Do you remember
                                                                                                                          • Slide 147

                                                                                                                            Question 2

                                                                                                                            bullldquoCongress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof or abridging the freedom of speech or of the press or the right of the people to peacefully assemble and to petition the Government for a redress of grievancesrdquo

                                                                                                                            Limited Government

                                                                                                                            Question 3

                                                                                                                            bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                                            Limited Government

                                                                                                                            Question 4

                                                                                                                            bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                                            SEPARATION OF POWERS

                                                                                                                            Question 5

                                                                                                                            bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                            Checks and Balances

                                                                                                                            Question 6

                                                                                                                            bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                            CHECKS AND BALANCES

                                                                                                                            Question 7

                                                                                                                            bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                            JUDICIAL REVIEW

                                                                                                                            Question 8

                                                                                                                            bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                            Federalism

                                                                                                                            GroupsPopular

                                                                                                                            SovereigntySeparation of

                                                                                                                            PowersFederalism

                                                                                                                            bull bull bull

                                                                                                                            Judicial Review

                                                                                                                            Limited Government

                                                                                                                            Checks and Balances

                                                                                                                            bull bull bull

                                                                                                                            Separation of Powers

                                                                                                                            bull Legislative branchmdashmakes the laws

                                                                                                                            bull Executive branchmdashenforces the laws

                                                                                                                            bull Judicial branchmdashinterprets the law

                                                                                                                            Video

                                                                                                                            bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                            Checks and Balances

                                                                                                                            Checks and balances

                                                                                                                            bullIn what was do the branches check on one another

                                                                                                                            bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                            Basic Principles

                                                                                                                            bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                            Self- Worth

                                                                                                                            bull A recognition of the fundamental worth of every person

                                                                                                                            bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                            Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                            bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                            bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                            Compromise

                                                                                                                            bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                            bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                            bullWhy is compromise important

                                                                                                                            Individual Freedombull Right of the

                                                                                                                            individual to be free as far as the freedom of all will allow

                                                                                                                            bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                            Write your ownhellipbull Now that you know what the foundations of

                                                                                                                            government arehellip Create your own Constitution (Or social contract)

                                                                                                                            What do you think is important to include What do you think could be taken out

                                                                                                                            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                            Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                            change it)

                                                                                                                            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                            paper

                                                                                                                            TED Talk

                                                                                                                            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                            Closure

                                                                                                                            bullExplain two principles of the constitution and how are they connected

                                                                                                                            What is Economics

                                                                                                                            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                            Important Parts of Economicsndash

                                                                                                                            CHOICESSCARCITY

                                                                                                                            Economics ishellip

                                                                                                                            bullDependent upon assumptions

                                                                                                                            bullDependent upon simplification of reality

                                                                                                                            Back to our assumptionshellip

                                                                                                                            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                            bullAll sellers seek to maximize profits

                                                                                                                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                            For the videohellip

                                                                                                                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                            Post Videohellip

                                                                                                                            bullDefine the main idea of the video in 4-5 words

                                                                                                                            Advertisement

                                                                                                                            bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                            3 images that represent different economic ideas

                                                                                                                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                            1 slogan that represents why economics is an important course to take

                                                                                                                            Political Cartoon Analysis

                                                                                                                            Factors of Production bull LAND

                                                                                                                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                            soil minerals water and plants

                                                                                                                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                            into producing goodsservices

                                                                                                                            bull CAPITAL Includes tools machines buildings and

                                                                                                                            technologies

                                                                                                                            bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                            land labor and capital to produce goods and services

                                                                                                                            TASK

                                                                                                                            bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                            bullAnswer in 2-3 sentences

                                                                                                                            The price ofhellip

                                                                                                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                            Economic efficiency is achieved when all available resources are being used

                                                                                                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                            1 What to produce

                                                                                                                            bullShould it be military or civilian goods

                                                                                                                            bullFood or clothingbullMedicine or movies

                                                                                                                            2 How to produce it

                                                                                                                            bullAutomated or manual labor

                                                                                                                            bullExpensive or cheap materials

                                                                                                                            bullDomestic or overseas labor

                                                                                                                            3 For whom to produce it

                                                                                                                            bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                            Application Activity

                                                                                                                            bull In groups of 2-3 create your own country (name it please)

                                                                                                                            bull With your countryrsquos name explain the Population geography and general population

                                                                                                                            information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                            answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                            withhellip Images representing what you produce and a

                                                                                                                            slogan for why your country is awesome

                                                                                                                            EQs

                                                                                                                            bullHow does scarcity impact decision making

                                                                                                                            Objectives amp Essential QuestionsbullObjectives

                                                                                                                            I will be able to create and reflect on a budget given new economics content

                                                                                                                            I will be able to understand scarcity and our mixed economy

                                                                                                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                            Group Activity Budget Activity

                                                                                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                            How do we satisfy our economic wants

                                                                                                                            bull We buy goods or services

                                                                                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                            How do we make goods amp services

                                                                                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                            Production Equation

                                                                                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                            inputs output

                                                                                                                            Economic Interdependence

                                                                                                                            bullWhat does lsquointerdependencersquo mean

                                                                                                                            bullIs our world becoming economic interdependent or independent

                                                                                                                            bullEconomic Interdependence the actions of one part of the

                                                                                                                            country (world) has an impact on what happens elsewhere

                                                                                                                            Wants amp Needs gt

                                                                                                                            Resources

                                                                                                                            Because of scarcity we

                                                                                                                            have to make choices

                                                                                                                            How do we make a choice What do we give up

                                                                                                                            What does this remind you of from our government unit

                                                                                                                            Making Choices to Deal With Scarcity

                                                                                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                            decision over another

                                                                                                                            ExampleshellipbullSome choices are easy to makehellip

                                                                                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                            school today or should I sleep in

                                                                                                                            Task Reflecting on Personal Trade-offshellip

                                                                                                                            In the end what helped you decide amongst your choices

                                                                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                            tradeoffs for that decision

                                                                                                                            Be prepared to share

                                                                                                                            Opportunity Cost

                                                                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                                                                            we want

                                                                                                                            What else influences your choices

                                                                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                            FinallyhellipWhy it Matters

                                                                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                            better decision-maker

                                                                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                            You always have to give something uphelliprdquo

                                                                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                            decisions

                                                                                                                            Visualizing the Relationshiphellip

                                                                                                                            Limited Resources amp Unlimited Wants

                                                                                                                            Scarcity

                                                                                                                            Trade-offs (choices)

                                                                                                                            Opportunity Costs

                                                                                                                            ObjectivesEssential Questions

                                                                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                                                                            the three different types of economies

                                                                                                                            bullEssential Question How do the different types of economies work

                                                                                                                            How Can We Measure What We Gain and Lose When

                                                                                                                            Making Choices

                                                                                                                            Answer With a Production Possibilities Frontier

                                                                                                                            Production Possibilities Frontier

                                                                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                            PPF Assumptions

                                                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                            Production Possibilities Curve

                                                                                                                            CD

                                                                                                                            E

                                                                                                                            OU

                                                                                                                            TP

                                                                                                                            UT

                                                                                                                            OF

                                                                                                                            CO

                                                                                                                            NS

                                                                                                                            UM

                                                                                                                            ER

                                                                                                                            GO

                                                                                                                            OD

                                                                                                                            S

                                                                                                                            (un

                                                                                                                            its

                                                                                                                            per

                                                                                                                            yea

                                                                                                                            r)

                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                            A

                                                                                                                            BO

                                                                                                                            XF

                                                                                                                            G

                                                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                                                            The Choices Nations Make

                                                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                            bullProduce military goods or consumer goods

                                                                                                                            Economic Growth

                                                                                                                            2000 production possibilities

                                                                                                                            1900 production possibilities

                                                                                                                            OU

                                                                                                                            TP

                                                                                                                            UT

                                                                                                                            OF

                                                                                                                            CO

                                                                                                                            NS

                                                                                                                            UM

                                                                                                                            ER

                                                                                                                            GO

                                                                                                                            OD

                                                                                                                            S(u

                                                                                                                            nits

                                                                                                                            per

                                                                                                                            yea

                                                                                                                            r)

                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                            Production possibilities increases with more resources and technology

                                                                                                                            The Classic Guns and Butter example

                                                                                                                            Guns

                                                                                                                            Butter

                                                                                                                            10000 20000 30000 40000 50000

                                                                                                                            1000009500085000

                                                                                                                            70000

                                                                                                                            5000040000

                                                                                                                            BA

                                                                                                                            C

                                                                                                                            D

                                                                                                                            E

                                                                                                                            F

                                                                                                                            At point A all resources are used for butter

                                                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                            At point F all resources are used for Guns

                                                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                                                            choices are

                                                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                            Locations on a PPF

                                                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                            Food

                                                                                                                            Computer

                                                                                                                            4

                                                                                                                            3

                                                                                                                            2

                                                                                                                            1

                                                                                                                            1 2 3 4

                                                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                                                            Unit

                                                                                                                            Constantly giving up the same quantity of food to get

                                                                                                                            additional computers

                                                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                            Principle of Increasing Costs

                                                                                                                            As a society produces more of one product the OC of producing

                                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                            Economic Systems

                                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                                            Jigsaw activity

                                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                                            bull Economic Freedom

                                                                                                                            bull Economic Efficiency

                                                                                                                            bull Economic Equity

                                                                                                                            bull Economic Security

                                                                                                                            Economic Stability

                                                                                                                            Economic Growth

                                                                                                                            Review of Economic Systems

                                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                            What are the most important goals of each economic system

                                                                                                                            bullTraditionalSecurity and

                                                                                                                            StabilitybullCommand

                                                                                                                            Equity and Security

                                                                                                                            bullMARKETEfficiency and

                                                                                                                            Freedom

                                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                                            Which economic system does the US use

                                                                                                                            The American Economic System

                                                                                                                            bullWe have a mixed market economy

                                                                                                                            COMMAND MARKET

                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                            Think backhellip

                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                            2 Limited government

                                                                                                                            3 Equal opportunity

                                                                                                                            4 Competition

                                                                                                                            5 Profit motive

                                                                                                                            6 Property Rights

                                                                                                                            7 Binding Contracts

                                                                                                                            Understanding how all parts fit together

                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                            Shows interdependence between

                                                                                                                            businesses and individuals

                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                            Do you remember

                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                            democracy and mixed economy

                                                                                                                            • Foundations of Government and Economics
                                                                                                                            • On your blank piece of paperhellip
                                                                                                                            • Slide 3
                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                            • Introductory thoughts hellip
                                                                                                                            • Slide 6
                                                                                                                            • 2 How about to your life
                                                                                                                            • Slide 8
                                                                                                                            • Slide 9
                                                                                                                            • Slide 10
                                                                                                                            • Slide 11
                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                            • Economist and Politician Assumptions
                                                                                                                            • Individualism
                                                                                                                            • Quote activity
                                                                                                                            • Quote breakdown
                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                            • Purpose of Government
                                                                                                                            • Slide 20
                                                                                                                            • 3 Theorists
                                                                                                                            • Activity
                                                                                                                            • Origins of American Government A customized government
                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                            • With which theory do you agree more Why
                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                            • Groups Block 2
                                                                                                                            • Groups Block 4
                                                                                                                            • Balloon Game
                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                            • Balloon Game Debriefing
                                                                                                                            • Political Theories
                                                                                                                            • Social Contract
                                                                                                                            • Natural Rights
                                                                                                                            • Democracy
                                                                                                                            • Concepts of Government
                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                            • Warm Up 7
                                                                                                                            • And after the Constitution
                                                                                                                            • Activity (2)
                                                                                                                            • Picture Activity
                                                                                                                            • Constitutional Convention
                                                                                                                            • Purpose of the Convention
                                                                                                                            • VA Plan v NJ Plan
                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                            • Your Task
                                                                                                                            • Closure
                                                                                                                            • States agree
                                                                                                                            • Quote
                                                                                                                            • Structure of Constitution
                                                                                                                            • Structure of Constitution
                                                                                                                            • 6 Purpose of Government
                                                                                                                            • Structure of Constitution (2)
                                                                                                                            • Structure of Constitution (3)
                                                                                                                            • Principles of Constitution
                                                                                                                            • Activity
                                                                                                                            • Slide 60
                                                                                                                            • Check for Understanding Six Principles
                                                                                                                            • Question 1
                                                                                                                            • Question 2
                                                                                                                            • Question 3
                                                                                                                            • Question 4
                                                                                                                            • Question 5
                                                                                                                            • Question 6
                                                                                                                            • Question 7
                                                                                                                            • Question 8
                                                                                                                            • Groups
                                                                                                                            • Separation of Powers
                                                                                                                            • Video
                                                                                                                            • Checks and Balances
                                                                                                                            • Slide 74
                                                                                                                            • Checks and balances
                                                                                                                            • Basic Principles
                                                                                                                            • Self- Worth
                                                                                                                            • Equality
                                                                                                                            • Compromise
                                                                                                                            • Individual Freedom
                                                                                                                            • Write your ownhellip
                                                                                                                            • Slide 82
                                                                                                                            • TED Talk
                                                                                                                            • Closure
                                                                                                                            • What is Economics
                                                                                                                            • Economics ishellip
                                                                                                                            • Back to our assumptionshellip
                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                            • For the videohellip
                                                                                                                            • Slide 90
                                                                                                                            • Post Videohellip
                                                                                                                            • Advertisement
                                                                                                                            • Political Cartoon Analysis
                                                                                                                            • Factors of Production
                                                                                                                            • TASK
                                                                                                                            • The price ofhellip
                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                            • 1 What to produce
                                                                                                                            • 2 How to produce it
                                                                                                                            • 3 For whom to produce it
                                                                                                                            • Application Activity
                                                                                                                            • EQs
                                                                                                                            • Objectives amp Essential Questions
                                                                                                                            • Group Activity Budget Activity
                                                                                                                            • Slide 105
                                                                                                                            • How do we satisfy our economic wants
                                                                                                                            • How do we make goods amp services
                                                                                                                            • Economic Interdependence
                                                                                                                            • Slide 109
                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                            • Exampleshellip
                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                            • Opportunity Cost
                                                                                                                            • What else influences your choices
                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                            • ObjectivesEssential Questions
                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                            • Production Possibilities Frontier
                                                                                                                            • PPF Assumptions
                                                                                                                            • Slide 121
                                                                                                                            • Production Possibilities Curve
                                                                                                                            • The Choices Nations Make
                                                                                                                            • Economic Growth
                                                                                                                            • The Classic Guns and Butter example
                                                                                                                            • Productivity
                                                                                                                            • Locations on a PPF
                                                                                                                            • Slide 128
                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                            • Economic Systems
                                                                                                                            • Jigsaw activity
                                                                                                                            • Slide 132
                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                            • Review of Economic Systems
                                                                                                                            • Slide 135
                                                                                                                            • What are the most important goals of each economic system
                                                                                                                            • Which economic system does the US use
                                                                                                                            • The American Economic System
                                                                                                                            • The US mixed economy
                                                                                                                            • Slide 140
                                                                                                                            • Think backhellip
                                                                                                                            • US Economic System Characteristics
                                                                                                                            • Slide 143
                                                                                                                            • Understanding how all parts fit together
                                                                                                                            • Marriage Vows
                                                                                                                            • Do you remember
                                                                                                                            • Slide 147

                                                                                                                              Question 3

                                                                                                                              bullDuring the Watergate Scandal prosecutors accused many of President Nixonrsquos closest advisors of breaking the law thus proving the rule of lawmdashNO ONE is above the law

                                                                                                                              Limited Government

                                                                                                                              Question 4

                                                                                                                              bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                                              SEPARATION OF POWERS

                                                                                                                              Question 5

                                                                                                                              bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                              Checks and Balances

                                                                                                                              Question 6

                                                                                                                              bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                              CHECKS AND BALANCES

                                                                                                                              Question 7

                                                                                                                              bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                              JUDICIAL REVIEW

                                                                                                                              Question 8

                                                                                                                              bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                              Federalism

                                                                                                                              GroupsPopular

                                                                                                                              SovereigntySeparation of

                                                                                                                              PowersFederalism

                                                                                                                              bull bull bull

                                                                                                                              Judicial Review

                                                                                                                              Limited Government

                                                                                                                              Checks and Balances

                                                                                                                              bull bull bull

                                                                                                                              Separation of Powers

                                                                                                                              bull Legislative branchmdashmakes the laws

                                                                                                                              bull Executive branchmdashenforces the laws

                                                                                                                              bull Judicial branchmdashinterprets the law

                                                                                                                              Video

                                                                                                                              bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                              Checks and Balances

                                                                                                                              Checks and balances

                                                                                                                              bullIn what was do the branches check on one another

                                                                                                                              bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                              Basic Principles

                                                                                                                              bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                              Self- Worth

                                                                                                                              bull A recognition of the fundamental worth of every person

                                                                                                                              bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                              Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                              bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                              bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                              Compromise

                                                                                                                              bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                              bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                              bullWhy is compromise important

                                                                                                                              Individual Freedombull Right of the

                                                                                                                              individual to be free as far as the freedom of all will allow

                                                                                                                              bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                              Write your ownhellipbull Now that you know what the foundations of

                                                                                                                              government arehellip Create your own Constitution (Or social contract)

                                                                                                                              What do you think is important to include What do you think could be taken out

                                                                                                                              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                              Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                              change it)

                                                                                                                              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                              paper

                                                                                                                              TED Talk

                                                                                                                              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                              Closure

                                                                                                                              bullExplain two principles of the constitution and how are they connected

                                                                                                                              What is Economics

                                                                                                                              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                              Important Parts of Economicsndash

                                                                                                                              CHOICESSCARCITY

                                                                                                                              Economics ishellip

                                                                                                                              bullDependent upon assumptions

                                                                                                                              bullDependent upon simplification of reality

                                                                                                                              Back to our assumptionshellip

                                                                                                                              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                              bullAll sellers seek to maximize profits

                                                                                                                              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                              For the videohellip

                                                                                                                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                              Post Videohellip

                                                                                                                              bullDefine the main idea of the video in 4-5 words

                                                                                                                              Advertisement

                                                                                                                              bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                              3 images that represent different economic ideas

                                                                                                                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                              1 slogan that represents why economics is an important course to take

                                                                                                                              Political Cartoon Analysis

                                                                                                                              Factors of Production bull LAND

                                                                                                                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                              soil minerals water and plants

                                                                                                                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                              into producing goodsservices

                                                                                                                              bull CAPITAL Includes tools machines buildings and

                                                                                                                              technologies

                                                                                                                              bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                              land labor and capital to produce goods and services

                                                                                                                              TASK

                                                                                                                              bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                              bullAnswer in 2-3 sentences

                                                                                                                              The price ofhellip

                                                                                                                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                              Economic efficiency is achieved when all available resources are being used

                                                                                                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                              1 What to produce

                                                                                                                              bullShould it be military or civilian goods

                                                                                                                              bullFood or clothingbullMedicine or movies

                                                                                                                              2 How to produce it

                                                                                                                              bullAutomated or manual labor

                                                                                                                              bullExpensive or cheap materials

                                                                                                                              bullDomestic or overseas labor

                                                                                                                              3 For whom to produce it

                                                                                                                              bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                              Application Activity

                                                                                                                              bull In groups of 2-3 create your own country (name it please)

                                                                                                                              bull With your countryrsquos name explain the Population geography and general population

                                                                                                                              information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                              answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                              withhellip Images representing what you produce and a

                                                                                                                              slogan for why your country is awesome

                                                                                                                              EQs

                                                                                                                              bullHow does scarcity impact decision making

                                                                                                                              Objectives amp Essential QuestionsbullObjectives

                                                                                                                              I will be able to create and reflect on a budget given new economics content

                                                                                                                              I will be able to understand scarcity and our mixed economy

                                                                                                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                              Group Activity Budget Activity

                                                                                                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                              How do we satisfy our economic wants

                                                                                                                              bull We buy goods or services

                                                                                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                              How do we make goods amp services

                                                                                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                              Production Equation

                                                                                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                              inputs output

                                                                                                                              Economic Interdependence

                                                                                                                              bullWhat does lsquointerdependencersquo mean

                                                                                                                              bullIs our world becoming economic interdependent or independent

                                                                                                                              bullEconomic Interdependence the actions of one part of the

                                                                                                                              country (world) has an impact on what happens elsewhere

                                                                                                                              Wants amp Needs gt

                                                                                                                              Resources

                                                                                                                              Because of scarcity we

                                                                                                                              have to make choices

                                                                                                                              How do we make a choice What do we give up

                                                                                                                              What does this remind you of from our government unit

                                                                                                                              Making Choices to Deal With Scarcity

                                                                                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                              decision over another

                                                                                                                              ExampleshellipbullSome choices are easy to makehellip

                                                                                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                              school today or should I sleep in

                                                                                                                              Task Reflecting on Personal Trade-offshellip

                                                                                                                              In the end what helped you decide amongst your choices

                                                                                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                              tradeoffs for that decision

                                                                                                                              Be prepared to share

                                                                                                                              Opportunity Cost

                                                                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                                                                              we want

                                                                                                                              What else influences your choices

                                                                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                              FinallyhellipWhy it Matters

                                                                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                              better decision-maker

                                                                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                              You always have to give something uphelliprdquo

                                                                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                              decisions

                                                                                                                              Visualizing the Relationshiphellip

                                                                                                                              Limited Resources amp Unlimited Wants

                                                                                                                              Scarcity

                                                                                                                              Trade-offs (choices)

                                                                                                                              Opportunity Costs

                                                                                                                              ObjectivesEssential Questions

                                                                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                                                                              the three different types of economies

                                                                                                                              bullEssential Question How do the different types of economies work

                                                                                                                              How Can We Measure What We Gain and Lose When

                                                                                                                              Making Choices

                                                                                                                              Answer With a Production Possibilities Frontier

                                                                                                                              Production Possibilities Frontier

                                                                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                              PPF Assumptions

                                                                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                              Production Possibilities Curve

                                                                                                                              CD

                                                                                                                              E

                                                                                                                              OU

                                                                                                                              TP

                                                                                                                              UT

                                                                                                                              OF

                                                                                                                              CO

                                                                                                                              NS

                                                                                                                              UM

                                                                                                                              ER

                                                                                                                              GO

                                                                                                                              OD

                                                                                                                              S

                                                                                                                              (un

                                                                                                                              its

                                                                                                                              per

                                                                                                                              yea

                                                                                                                              r)

                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                              A

                                                                                                                              BO

                                                                                                                              XF

                                                                                                                              G

                                                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                                                              The Choices Nations Make

                                                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                              bullProduce military goods or consumer goods

                                                                                                                              Economic Growth

                                                                                                                              2000 production possibilities

                                                                                                                              1900 production possibilities

                                                                                                                              OU

                                                                                                                              TP

                                                                                                                              UT

                                                                                                                              OF

                                                                                                                              CO

                                                                                                                              NS

                                                                                                                              UM

                                                                                                                              ER

                                                                                                                              GO

                                                                                                                              OD

                                                                                                                              S(u

                                                                                                                              nits

                                                                                                                              per

                                                                                                                              yea

                                                                                                                              r)

                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                              Production possibilities increases with more resources and technology

                                                                                                                              The Classic Guns and Butter example

                                                                                                                              Guns

                                                                                                                              Butter

                                                                                                                              10000 20000 30000 40000 50000

                                                                                                                              1000009500085000

                                                                                                                              70000

                                                                                                                              5000040000

                                                                                                                              BA

                                                                                                                              C

                                                                                                                              D

                                                                                                                              E

                                                                                                                              F

                                                                                                                              At point A all resources are used for butter

                                                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                              At point F all resources are used for Guns

                                                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                                                              choices are

                                                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                              Locations on a PPF

                                                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                              Food

                                                                                                                              Computer

                                                                                                                              4

                                                                                                                              3

                                                                                                                              2

                                                                                                                              1

                                                                                                                              1 2 3 4

                                                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                                                              Unit

                                                                                                                              Constantly giving up the same quantity of food to get

                                                                                                                              additional computers

                                                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                              Principle of Increasing Costs

                                                                                                                              As a society produces more of one product the OC of producing

                                                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                              Economic Systems

                                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                                              Jigsaw activity

                                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                                              bull Economic Freedom

                                                                                                                              bull Economic Efficiency

                                                                                                                              bull Economic Equity

                                                                                                                              bull Economic Security

                                                                                                                              Economic Stability

                                                                                                                              Economic Growth

                                                                                                                              Review of Economic Systems

                                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                              What are the most important goals of each economic system

                                                                                                                              bullTraditionalSecurity and

                                                                                                                              StabilitybullCommand

                                                                                                                              Equity and Security

                                                                                                                              bullMARKETEfficiency and

                                                                                                                              Freedom

                                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                                              Which economic system does the US use

                                                                                                                              The American Economic System

                                                                                                                              bullWe have a mixed market economy

                                                                                                                              COMMAND MARKET

                                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                              Think backhellip

                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                              2 Limited government

                                                                                                                              3 Equal opportunity

                                                                                                                              4 Competition

                                                                                                                              5 Profit motive

                                                                                                                              6 Property Rights

                                                                                                                              7 Binding Contracts

                                                                                                                              Understanding how all parts fit together

                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                              Shows interdependence between

                                                                                                                              businesses and individuals

                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                              Do you remember

                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                              democracy and mixed economy

                                                                                                                              • Foundations of Government and Economics
                                                                                                                              • On your blank piece of paperhellip
                                                                                                                              • Slide 3
                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                              • Introductory thoughts hellip
                                                                                                                              • Slide 6
                                                                                                                              • 2 How about to your life
                                                                                                                              • Slide 8
                                                                                                                              • Slide 9
                                                                                                                              • Slide 10
                                                                                                                              • Slide 11
                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                              • Economist and Politician Assumptions
                                                                                                                              • Individualism
                                                                                                                              • Quote activity
                                                                                                                              • Quote breakdown
                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                              • Purpose of Government
                                                                                                                              • Slide 20
                                                                                                                              • 3 Theorists
                                                                                                                              • Activity
                                                                                                                              • Origins of American Government A customized government
                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                              • With which theory do you agree more Why
                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                              • Groups Block 2
                                                                                                                              • Groups Block 4
                                                                                                                              • Balloon Game
                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                              • Balloon Game Debriefing
                                                                                                                              • Political Theories
                                                                                                                              • Social Contract
                                                                                                                              • Natural Rights
                                                                                                                              • Democracy
                                                                                                                              • Concepts of Government
                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                              • Warm Up 7
                                                                                                                              • And after the Constitution
                                                                                                                              • Activity (2)
                                                                                                                              • Picture Activity
                                                                                                                              • Constitutional Convention
                                                                                                                              • Purpose of the Convention
                                                                                                                              • VA Plan v NJ Plan
                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                              • Your Task
                                                                                                                              • Closure
                                                                                                                              • States agree
                                                                                                                              • Quote
                                                                                                                              • Structure of Constitution
                                                                                                                              • Structure of Constitution
                                                                                                                              • 6 Purpose of Government
                                                                                                                              • Structure of Constitution (2)
                                                                                                                              • Structure of Constitution (3)
                                                                                                                              • Principles of Constitution
                                                                                                                              • Activity
                                                                                                                              • Slide 60
                                                                                                                              • Check for Understanding Six Principles
                                                                                                                              • Question 1
                                                                                                                              • Question 2
                                                                                                                              • Question 3
                                                                                                                              • Question 4
                                                                                                                              • Question 5
                                                                                                                              • Question 6
                                                                                                                              • Question 7
                                                                                                                              • Question 8
                                                                                                                              • Groups
                                                                                                                              • Separation of Powers
                                                                                                                              • Video
                                                                                                                              • Checks and Balances
                                                                                                                              • Slide 74
                                                                                                                              • Checks and balances
                                                                                                                              • Basic Principles
                                                                                                                              • Self- Worth
                                                                                                                              • Equality
                                                                                                                              • Compromise
                                                                                                                              • Individual Freedom
                                                                                                                              • Write your ownhellip
                                                                                                                              • Slide 82
                                                                                                                              • TED Talk
                                                                                                                              • Closure
                                                                                                                              • What is Economics
                                                                                                                              • Economics ishellip
                                                                                                                              • Back to our assumptionshellip
                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                              • For the videohellip
                                                                                                                              • Slide 90
                                                                                                                              • Post Videohellip
                                                                                                                              • Advertisement
                                                                                                                              • Political Cartoon Analysis
                                                                                                                              • Factors of Production
                                                                                                                              • TASK
                                                                                                                              • The price ofhellip
                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                              • 1 What to produce
                                                                                                                              • 2 How to produce it
                                                                                                                              • 3 For whom to produce it
                                                                                                                              • Application Activity
                                                                                                                              • EQs
                                                                                                                              • Objectives amp Essential Questions
                                                                                                                              • Group Activity Budget Activity
                                                                                                                              • Slide 105
                                                                                                                              • How do we satisfy our economic wants
                                                                                                                              • How do we make goods amp services
                                                                                                                              • Economic Interdependence
                                                                                                                              • Slide 109
                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                              • Exampleshellip
                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                              • Opportunity Cost
                                                                                                                              • What else influences your choices
                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                              • ObjectivesEssential Questions
                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                              • Production Possibilities Frontier
                                                                                                                              • PPF Assumptions
                                                                                                                              • Slide 121
                                                                                                                              • Production Possibilities Curve
                                                                                                                              • The Choices Nations Make
                                                                                                                              • Economic Growth
                                                                                                                              • The Classic Guns and Butter example
                                                                                                                              • Productivity
                                                                                                                              • Locations on a PPF
                                                                                                                              • Slide 128
                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                              • Economic Systems
                                                                                                                              • Jigsaw activity
                                                                                                                              • Slide 132
                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                              • Review of Economic Systems
                                                                                                                              • Slide 135
                                                                                                                              • What are the most important goals of each economic system
                                                                                                                              • Which economic system does the US use
                                                                                                                              • The American Economic System
                                                                                                                              • The US mixed economy
                                                                                                                              • Slide 140
                                                                                                                              • Think backhellip
                                                                                                                              • US Economic System Characteristics
                                                                                                                              • Slide 143
                                                                                                                              • Understanding how all parts fit together
                                                                                                                              • Marriage Vows
                                                                                                                              • Do you remember
                                                                                                                              • Slide 147

                                                                                                                                Question 4

                                                                                                                                bullldquoThe accumulation of all powers legislative executive and judiciary in the same hands whether of one a few or manyhellipmay justly be pronounced the very definition of tyrannyrdquo

                                                                                                                                SEPARATION OF POWERS

                                                                                                                                Question 5

                                                                                                                                bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                                Checks and Balances

                                                                                                                                Question 6

                                                                                                                                bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                                CHECKS AND BALANCES

                                                                                                                                Question 7

                                                                                                                                bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                                JUDICIAL REVIEW

                                                                                                                                Question 8

                                                                                                                                bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                                Federalism

                                                                                                                                GroupsPopular

                                                                                                                                SovereigntySeparation of

                                                                                                                                PowersFederalism

                                                                                                                                bull bull bull

                                                                                                                                Judicial Review

                                                                                                                                Limited Government

                                                                                                                                Checks and Balances

                                                                                                                                bull bull bull

                                                                                                                                Separation of Powers

                                                                                                                                bull Legislative branchmdashmakes the laws

                                                                                                                                bull Executive branchmdashenforces the laws

                                                                                                                                bull Judicial branchmdashinterprets the law

                                                                                                                                Video

                                                                                                                                bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                                Checks and Balances

                                                                                                                                Checks and balances

                                                                                                                                bullIn what was do the branches check on one another

                                                                                                                                bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                Basic Principles

                                                                                                                                bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                Self- Worth

                                                                                                                                bull A recognition of the fundamental worth of every person

                                                                                                                                bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                Compromise

                                                                                                                                bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                bullWhy is compromise important

                                                                                                                                Individual Freedombull Right of the

                                                                                                                                individual to be free as far as the freedom of all will allow

                                                                                                                                bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                government arehellip Create your own Constitution (Or social contract)

                                                                                                                                What do you think is important to include What do you think could be taken out

                                                                                                                                Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                change it)

                                                                                                                                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                paper

                                                                                                                                TED Talk

                                                                                                                                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                Closure

                                                                                                                                bullExplain two principles of the constitution and how are they connected

                                                                                                                                What is Economics

                                                                                                                                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                Important Parts of Economicsndash

                                                                                                                                CHOICESSCARCITY

                                                                                                                                Economics ishellip

                                                                                                                                bullDependent upon assumptions

                                                                                                                                bullDependent upon simplification of reality

                                                                                                                                Back to our assumptionshellip

                                                                                                                                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                bullAll sellers seek to maximize profits

                                                                                                                                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                For the videohellip

                                                                                                                                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                Post Videohellip

                                                                                                                                bullDefine the main idea of the video in 4-5 words

                                                                                                                                Advertisement

                                                                                                                                bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                3 images that represent different economic ideas

                                                                                                                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                1 slogan that represents why economics is an important course to take

                                                                                                                                Political Cartoon Analysis

                                                                                                                                Factors of Production bull LAND

                                                                                                                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                soil minerals water and plants

                                                                                                                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                into producing goodsservices

                                                                                                                                bull CAPITAL Includes tools machines buildings and

                                                                                                                                technologies

                                                                                                                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                land labor and capital to produce goods and services

                                                                                                                                TASK

                                                                                                                                bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                bullAnswer in 2-3 sentences

                                                                                                                                The price ofhellip

                                                                                                                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                Economic efficiency is achieved when all available resources are being used

                                                                                                                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                1 What to produce

                                                                                                                                bullShould it be military or civilian goods

                                                                                                                                bullFood or clothingbullMedicine or movies

                                                                                                                                2 How to produce it

                                                                                                                                bullAutomated or manual labor

                                                                                                                                bullExpensive or cheap materials

                                                                                                                                bullDomestic or overseas labor

                                                                                                                                3 For whom to produce it

                                                                                                                                bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                Application Activity

                                                                                                                                bull In groups of 2-3 create your own country (name it please)

                                                                                                                                bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                withhellip Images representing what you produce and a

                                                                                                                                slogan for why your country is awesome

                                                                                                                                EQs

                                                                                                                                bullHow does scarcity impact decision making

                                                                                                                                Objectives amp Essential QuestionsbullObjectives

                                                                                                                                I will be able to create and reflect on a budget given new economics content

                                                                                                                                I will be able to understand scarcity and our mixed economy

                                                                                                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                Group Activity Budget Activity

                                                                                                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                How do we satisfy our economic wants

                                                                                                                                bull We buy goods or services

                                                                                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                How do we make goods amp services

                                                                                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                Production Equation

                                                                                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                inputs output

                                                                                                                                Economic Interdependence

                                                                                                                                bullWhat does lsquointerdependencersquo mean

                                                                                                                                bullIs our world becoming economic interdependent or independent

                                                                                                                                bullEconomic Interdependence the actions of one part of the

                                                                                                                                country (world) has an impact on what happens elsewhere

                                                                                                                                Wants amp Needs gt

                                                                                                                                Resources

                                                                                                                                Because of scarcity we

                                                                                                                                have to make choices

                                                                                                                                How do we make a choice What do we give up

                                                                                                                                What does this remind you of from our government unit

                                                                                                                                Making Choices to Deal With Scarcity

                                                                                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                decision over another

                                                                                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                school today or should I sleep in

                                                                                                                                Task Reflecting on Personal Trade-offshellip

                                                                                                                                In the end what helped you decide amongst your choices

                                                                                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                tradeoffs for that decision

                                                                                                                                Be prepared to share

                                                                                                                                Opportunity Cost

                                                                                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                we want

                                                                                                                                What else influences your choices

                                                                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                FinallyhellipWhy it Matters

                                                                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                better decision-maker

                                                                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                You always have to give something uphelliprdquo

                                                                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                decisions

                                                                                                                                Visualizing the Relationshiphellip

                                                                                                                                Limited Resources amp Unlimited Wants

                                                                                                                                Scarcity

                                                                                                                                Trade-offs (choices)

                                                                                                                                Opportunity Costs

                                                                                                                                ObjectivesEssential Questions

                                                                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                                                                the three different types of economies

                                                                                                                                bullEssential Question How do the different types of economies work

                                                                                                                                How Can We Measure What We Gain and Lose When

                                                                                                                                Making Choices

                                                                                                                                Answer With a Production Possibilities Frontier

                                                                                                                                Production Possibilities Frontier

                                                                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                PPF Assumptions

                                                                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                Production Possibilities Curve

                                                                                                                                CD

                                                                                                                                E

                                                                                                                                OU

                                                                                                                                TP

                                                                                                                                UT

                                                                                                                                OF

                                                                                                                                CO

                                                                                                                                NS

                                                                                                                                UM

                                                                                                                                ER

                                                                                                                                GO

                                                                                                                                OD

                                                                                                                                S

                                                                                                                                (un

                                                                                                                                its

                                                                                                                                per

                                                                                                                                yea

                                                                                                                                r)

                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                A

                                                                                                                                BO

                                                                                                                                XF

                                                                                                                                G

                                                                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                                                                The Choices Nations Make

                                                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                bullProduce military goods or consumer goods

                                                                                                                                Economic Growth

                                                                                                                                2000 production possibilities

                                                                                                                                1900 production possibilities

                                                                                                                                OU

                                                                                                                                TP

                                                                                                                                UT

                                                                                                                                OF

                                                                                                                                CO

                                                                                                                                NS

                                                                                                                                UM

                                                                                                                                ER

                                                                                                                                GO

                                                                                                                                OD

                                                                                                                                S(u

                                                                                                                                nits

                                                                                                                                per

                                                                                                                                yea

                                                                                                                                r)

                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                Production possibilities increases with more resources and technology

                                                                                                                                The Classic Guns and Butter example

                                                                                                                                Guns

                                                                                                                                Butter

                                                                                                                                10000 20000 30000 40000 50000

                                                                                                                                1000009500085000

                                                                                                                                70000

                                                                                                                                5000040000

                                                                                                                                BA

                                                                                                                                C

                                                                                                                                D

                                                                                                                                E

                                                                                                                                F

                                                                                                                                At point A all resources are used for butter

                                                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                At point F all resources are used for Guns

                                                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                                                choices are

                                                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                Locations on a PPF

                                                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                Food

                                                                                                                                Computer

                                                                                                                                4

                                                                                                                                3

                                                                                                                                2

                                                                                                                                1

                                                                                                                                1 2 3 4

                                                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                Unit

                                                                                                                                Constantly giving up the same quantity of food to get

                                                                                                                                additional computers

                                                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                Principle of Increasing Costs

                                                                                                                                As a society produces more of one product the OC of producing

                                                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                Economic Systems

                                                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                                                Jigsaw activity

                                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                                bull Economic Freedom

                                                                                                                                bull Economic Efficiency

                                                                                                                                bull Economic Equity

                                                                                                                                bull Economic Security

                                                                                                                                Economic Stability

                                                                                                                                Economic Growth

                                                                                                                                Review of Economic Systems

                                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                What are the most important goals of each economic system

                                                                                                                                bullTraditionalSecurity and

                                                                                                                                StabilitybullCommand

                                                                                                                                Equity and Security

                                                                                                                                bullMARKETEfficiency and

                                                                                                                                Freedom

                                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                                Which economic system does the US use

                                                                                                                                The American Economic System

                                                                                                                                bullWe have a mixed market economy

                                                                                                                                COMMAND MARKET

                                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                Think backhellip

                                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                2 Limited government

                                                                                                                                3 Equal opportunity

                                                                                                                                4 Competition

                                                                                                                                5 Profit motive

                                                                                                                                6 Property Rights

                                                                                                                                7 Binding Contracts

                                                                                                                                Understanding how all parts fit together

                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                Shows interdependence between

                                                                                                                                businesses and individuals

                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                Do you remember

                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                democracy and mixed economy

                                                                                                                                • Foundations of Government and Economics
                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                • Slide 3
                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                • Introductory thoughts hellip
                                                                                                                                • Slide 6
                                                                                                                                • 2 How about to your life
                                                                                                                                • Slide 8
                                                                                                                                • Slide 9
                                                                                                                                • Slide 10
                                                                                                                                • Slide 11
                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                • Individualism
                                                                                                                                • Quote activity
                                                                                                                                • Quote breakdown
                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                • Purpose of Government
                                                                                                                                • Slide 20
                                                                                                                                • 3 Theorists
                                                                                                                                • Activity
                                                                                                                                • Origins of American Government A customized government
                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                • With which theory do you agree more Why
                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                • Groups Block 2
                                                                                                                                • Groups Block 4
                                                                                                                                • Balloon Game
                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                • Balloon Game Debriefing
                                                                                                                                • Political Theories
                                                                                                                                • Social Contract
                                                                                                                                • Natural Rights
                                                                                                                                • Democracy
                                                                                                                                • Concepts of Government
                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                • Warm Up 7
                                                                                                                                • And after the Constitution
                                                                                                                                • Activity (2)
                                                                                                                                • Picture Activity
                                                                                                                                • Constitutional Convention
                                                                                                                                • Purpose of the Convention
                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                • Your Task
                                                                                                                                • Closure
                                                                                                                                • States agree
                                                                                                                                • Quote
                                                                                                                                • Structure of Constitution
                                                                                                                                • Structure of Constitution
                                                                                                                                • 6 Purpose of Government
                                                                                                                                • Structure of Constitution (2)
                                                                                                                                • Structure of Constitution (3)
                                                                                                                                • Principles of Constitution
                                                                                                                                • Activity
                                                                                                                                • Slide 60
                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                • Question 1
                                                                                                                                • Question 2
                                                                                                                                • Question 3
                                                                                                                                • Question 4
                                                                                                                                • Question 5
                                                                                                                                • Question 6
                                                                                                                                • Question 7
                                                                                                                                • Question 8
                                                                                                                                • Groups
                                                                                                                                • Separation of Powers
                                                                                                                                • Video
                                                                                                                                • Checks and Balances
                                                                                                                                • Slide 74
                                                                                                                                • Checks and balances
                                                                                                                                • Basic Principles
                                                                                                                                • Self- Worth
                                                                                                                                • Equality
                                                                                                                                • Compromise
                                                                                                                                • Individual Freedom
                                                                                                                                • Write your ownhellip
                                                                                                                                • Slide 82
                                                                                                                                • TED Talk
                                                                                                                                • Closure
                                                                                                                                • What is Economics
                                                                                                                                • Economics ishellip
                                                                                                                                • Back to our assumptionshellip
                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                • For the videohellip
                                                                                                                                • Slide 90
                                                                                                                                • Post Videohellip
                                                                                                                                • Advertisement
                                                                                                                                • Political Cartoon Analysis
                                                                                                                                • Factors of Production
                                                                                                                                • TASK
                                                                                                                                • The price ofhellip
                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                • 1 What to produce
                                                                                                                                • 2 How to produce it
                                                                                                                                • 3 For whom to produce it
                                                                                                                                • Application Activity
                                                                                                                                • EQs
                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                • Group Activity Budget Activity
                                                                                                                                • Slide 105
                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                • How do we make goods amp services
                                                                                                                                • Economic Interdependence
                                                                                                                                • Slide 109
                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                • Exampleshellip
                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                • Opportunity Cost
                                                                                                                                • What else influences your choices
                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                • Production Possibilities Frontier
                                                                                                                                • PPF Assumptions
                                                                                                                                • Slide 121
                                                                                                                                • Production Possibilities Curve
                                                                                                                                • The Choices Nations Make
                                                                                                                                • Economic Growth
                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                • Productivity
                                                                                                                                • Locations on a PPF
                                                                                                                                • Slide 128
                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                • Economic Systems
                                                                                                                                • Jigsaw activity
                                                                                                                                • Slide 132
                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                • Review of Economic Systems
                                                                                                                                • Slide 135
                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                • Which economic system does the US use
                                                                                                                                • The American Economic System
                                                                                                                                • The US mixed economy
                                                                                                                                • Slide 140
                                                                                                                                • Think backhellip
                                                                                                                                • US Economic System Characteristics
                                                                                                                                • Slide 143
                                                                                                                                • Understanding how all parts fit together
                                                                                                                                • Marriage Vows
                                                                                                                                • Do you remember
                                                                                                                                • Slide 147

                                                                                                                                  Question 5

                                                                                                                                  bullPresident Bush nominates Miss Dicks to be director of the CIA but the Senate refuses to confirm the appointment

                                                                                                                                  Checks and Balances

                                                                                                                                  Question 6

                                                                                                                                  bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                                  CHECKS AND BALANCES

                                                                                                                                  Question 7

                                                                                                                                  bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                                  JUDICIAL REVIEW

                                                                                                                                  Question 8

                                                                                                                                  bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                                  Federalism

                                                                                                                                  GroupsPopular

                                                                                                                                  SovereigntySeparation of

                                                                                                                                  PowersFederalism

                                                                                                                                  bull bull bull

                                                                                                                                  Judicial Review

                                                                                                                                  Limited Government

                                                                                                                                  Checks and Balances

                                                                                                                                  bull bull bull

                                                                                                                                  Separation of Powers

                                                                                                                                  bull Legislative branchmdashmakes the laws

                                                                                                                                  bull Executive branchmdashenforces the laws

                                                                                                                                  bull Judicial branchmdashinterprets the law

                                                                                                                                  Video

                                                                                                                                  bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                                  Checks and Balances

                                                                                                                                  Checks and balances

                                                                                                                                  bullIn what was do the branches check on one another

                                                                                                                                  bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                  Basic Principles

                                                                                                                                  bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                  Self- Worth

                                                                                                                                  bull A recognition of the fundamental worth of every person

                                                                                                                                  bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                  Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                  bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                  bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                  Compromise

                                                                                                                                  bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                  bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                  bullWhy is compromise important

                                                                                                                                  Individual Freedombull Right of the

                                                                                                                                  individual to be free as far as the freedom of all will allow

                                                                                                                                  bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                  Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                  government arehellip Create your own Constitution (Or social contract)

                                                                                                                                  What do you think is important to include What do you think could be taken out

                                                                                                                                  Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                  Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                  learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                  change it)

                                                                                                                                  bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                  paper

                                                                                                                                  TED Talk

                                                                                                                                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                  Closure

                                                                                                                                  bullExplain two principles of the constitution and how are they connected

                                                                                                                                  What is Economics

                                                                                                                                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                  Important Parts of Economicsndash

                                                                                                                                  CHOICESSCARCITY

                                                                                                                                  Economics ishellip

                                                                                                                                  bullDependent upon assumptions

                                                                                                                                  bullDependent upon simplification of reality

                                                                                                                                  Back to our assumptionshellip

                                                                                                                                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                  bullAll sellers seek to maximize profits

                                                                                                                                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                  For the videohellip

                                                                                                                                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                  Post Videohellip

                                                                                                                                  bullDefine the main idea of the video in 4-5 words

                                                                                                                                  Advertisement

                                                                                                                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                  3 images that represent different economic ideas

                                                                                                                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                  1 slogan that represents why economics is an important course to take

                                                                                                                                  Political Cartoon Analysis

                                                                                                                                  Factors of Production bull LAND

                                                                                                                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                  soil minerals water and plants

                                                                                                                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                  into producing goodsservices

                                                                                                                                  bull CAPITAL Includes tools machines buildings and

                                                                                                                                  technologies

                                                                                                                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                  land labor and capital to produce goods and services

                                                                                                                                  TASK

                                                                                                                                  bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                  bullAnswer in 2-3 sentences

                                                                                                                                  The price ofhellip

                                                                                                                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                  Economic efficiency is achieved when all available resources are being used

                                                                                                                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                  1 What to produce

                                                                                                                                  bullShould it be military or civilian goods

                                                                                                                                  bullFood or clothingbullMedicine or movies

                                                                                                                                  2 How to produce it

                                                                                                                                  bullAutomated or manual labor

                                                                                                                                  bullExpensive or cheap materials

                                                                                                                                  bullDomestic or overseas labor

                                                                                                                                  3 For whom to produce it

                                                                                                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                  Application Activity

                                                                                                                                  bull In groups of 2-3 create your own country (name it please)

                                                                                                                                  bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                  withhellip Images representing what you produce and a

                                                                                                                                  slogan for why your country is awesome

                                                                                                                                  EQs

                                                                                                                                  bullHow does scarcity impact decision making

                                                                                                                                  Objectives amp Essential QuestionsbullObjectives

                                                                                                                                  I will be able to create and reflect on a budget given new economics content

                                                                                                                                  I will be able to understand scarcity and our mixed economy

                                                                                                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                  Group Activity Budget Activity

                                                                                                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                  How do we satisfy our economic wants

                                                                                                                                  bull We buy goods or services

                                                                                                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                  How do we make goods amp services

                                                                                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                  Production Equation

                                                                                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                  inputs output

                                                                                                                                  Economic Interdependence

                                                                                                                                  bullWhat does lsquointerdependencersquo mean

                                                                                                                                  bullIs our world becoming economic interdependent or independent

                                                                                                                                  bullEconomic Interdependence the actions of one part of the

                                                                                                                                  country (world) has an impact on what happens elsewhere

                                                                                                                                  Wants amp Needs gt

                                                                                                                                  Resources

                                                                                                                                  Because of scarcity we

                                                                                                                                  have to make choices

                                                                                                                                  How do we make a choice What do we give up

                                                                                                                                  What does this remind you of from our government unit

                                                                                                                                  Making Choices to Deal With Scarcity

                                                                                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                  decision over another

                                                                                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                  school today or should I sleep in

                                                                                                                                  Task Reflecting on Personal Trade-offshellip

                                                                                                                                  In the end what helped you decide amongst your choices

                                                                                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                  tradeoffs for that decision

                                                                                                                                  Be prepared to share

                                                                                                                                  Opportunity Cost

                                                                                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                  we want

                                                                                                                                  What else influences your choices

                                                                                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                  FinallyhellipWhy it Matters

                                                                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                  better decision-maker

                                                                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                  You always have to give something uphelliprdquo

                                                                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                  decisions

                                                                                                                                  Visualizing the Relationshiphellip

                                                                                                                                  Limited Resources amp Unlimited Wants

                                                                                                                                  Scarcity

                                                                                                                                  Trade-offs (choices)

                                                                                                                                  Opportunity Costs

                                                                                                                                  ObjectivesEssential Questions

                                                                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                                                                  the three different types of economies

                                                                                                                                  bullEssential Question How do the different types of economies work

                                                                                                                                  How Can We Measure What We Gain and Lose When

                                                                                                                                  Making Choices

                                                                                                                                  Answer With a Production Possibilities Frontier

                                                                                                                                  Production Possibilities Frontier

                                                                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                  PPF Assumptions

                                                                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                  Production Possibilities Curve

                                                                                                                                  CD

                                                                                                                                  E

                                                                                                                                  OU

                                                                                                                                  TP

                                                                                                                                  UT

                                                                                                                                  OF

                                                                                                                                  CO

                                                                                                                                  NS

                                                                                                                                  UM

                                                                                                                                  ER

                                                                                                                                  GO

                                                                                                                                  OD

                                                                                                                                  S

                                                                                                                                  (un

                                                                                                                                  its

                                                                                                                                  per

                                                                                                                                  yea

                                                                                                                                  r)

                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                  A

                                                                                                                                  BO

                                                                                                                                  XF

                                                                                                                                  G

                                                                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                                                                  The Choices Nations Make

                                                                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                  bullProduce military goods or consumer goods

                                                                                                                                  Economic Growth

                                                                                                                                  2000 production possibilities

                                                                                                                                  1900 production possibilities

                                                                                                                                  OU

                                                                                                                                  TP

                                                                                                                                  UT

                                                                                                                                  OF

                                                                                                                                  CO

                                                                                                                                  NS

                                                                                                                                  UM

                                                                                                                                  ER

                                                                                                                                  GO

                                                                                                                                  OD

                                                                                                                                  S(u

                                                                                                                                  nits

                                                                                                                                  per

                                                                                                                                  yea

                                                                                                                                  r)

                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                  Production possibilities increases with more resources and technology

                                                                                                                                  The Classic Guns and Butter example

                                                                                                                                  Guns

                                                                                                                                  Butter

                                                                                                                                  10000 20000 30000 40000 50000

                                                                                                                                  1000009500085000

                                                                                                                                  70000

                                                                                                                                  5000040000

                                                                                                                                  BA

                                                                                                                                  C

                                                                                                                                  D

                                                                                                                                  E

                                                                                                                                  F

                                                                                                                                  At point A all resources are used for butter

                                                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                  At point F all resources are used for Guns

                                                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                                                  choices are

                                                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                  Locations on a PPF

                                                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                  Food

                                                                                                                                  Computer

                                                                                                                                  4

                                                                                                                                  3

                                                                                                                                  2

                                                                                                                                  1

                                                                                                                                  1 2 3 4

                                                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                  Unit

                                                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                                                  additional computers

                                                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                  Principle of Increasing Costs

                                                                                                                                  As a society produces more of one product the OC of producing

                                                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                  Economic Systems

                                                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                                                  Jigsaw activity

                                                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                                  bull Economic Freedom

                                                                                                                                  bull Economic Efficiency

                                                                                                                                  bull Economic Equity

                                                                                                                                  bull Economic Security

                                                                                                                                  Economic Stability

                                                                                                                                  Economic Growth

                                                                                                                                  Review of Economic Systems

                                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                  What are the most important goals of each economic system

                                                                                                                                  bullTraditionalSecurity and

                                                                                                                                  StabilitybullCommand

                                                                                                                                  Equity and Security

                                                                                                                                  bullMARKETEfficiency and

                                                                                                                                  Freedom

                                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                                  Which economic system does the US use

                                                                                                                                  The American Economic System

                                                                                                                                  bullWe have a mixed market economy

                                                                                                                                  COMMAND MARKET

                                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                  Think backhellip

                                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                  2 Limited government

                                                                                                                                  3 Equal opportunity

                                                                                                                                  4 Competition

                                                                                                                                  5 Profit motive

                                                                                                                                  6 Property Rights

                                                                                                                                  7 Binding Contracts

                                                                                                                                  Understanding how all parts fit together

                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                  Shows interdependence between

                                                                                                                                  businesses and individuals

                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                  Do you remember

                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                  democracy and mixed economy

                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                  • Slide 3
                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                  • Slide 6
                                                                                                                                  • 2 How about to your life
                                                                                                                                  • Slide 8
                                                                                                                                  • Slide 9
                                                                                                                                  • Slide 10
                                                                                                                                  • Slide 11
                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                  • Individualism
                                                                                                                                  • Quote activity
                                                                                                                                  • Quote breakdown
                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                  • Purpose of Government
                                                                                                                                  • Slide 20
                                                                                                                                  • 3 Theorists
                                                                                                                                  • Activity
                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                  • Groups Block 2
                                                                                                                                  • Groups Block 4
                                                                                                                                  • Balloon Game
                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                  • Political Theories
                                                                                                                                  • Social Contract
                                                                                                                                  • Natural Rights
                                                                                                                                  • Democracy
                                                                                                                                  • Concepts of Government
                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                  • Warm Up 7
                                                                                                                                  • And after the Constitution
                                                                                                                                  • Activity (2)
                                                                                                                                  • Picture Activity
                                                                                                                                  • Constitutional Convention
                                                                                                                                  • Purpose of the Convention
                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                  • Your Task
                                                                                                                                  • Closure
                                                                                                                                  • States agree
                                                                                                                                  • Quote
                                                                                                                                  • Structure of Constitution
                                                                                                                                  • Structure of Constitution
                                                                                                                                  • 6 Purpose of Government
                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                  • Principles of Constitution
                                                                                                                                  • Activity
                                                                                                                                  • Slide 60
                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                  • Question 1
                                                                                                                                  • Question 2
                                                                                                                                  • Question 3
                                                                                                                                  • Question 4
                                                                                                                                  • Question 5
                                                                                                                                  • Question 6
                                                                                                                                  • Question 7
                                                                                                                                  • Question 8
                                                                                                                                  • Groups
                                                                                                                                  • Separation of Powers
                                                                                                                                  • Video
                                                                                                                                  • Checks and Balances
                                                                                                                                  • Slide 74
                                                                                                                                  • Checks and balances
                                                                                                                                  • Basic Principles
                                                                                                                                  • Self- Worth
                                                                                                                                  • Equality
                                                                                                                                  • Compromise
                                                                                                                                  • Individual Freedom
                                                                                                                                  • Write your ownhellip
                                                                                                                                  • Slide 82
                                                                                                                                  • TED Talk
                                                                                                                                  • Closure
                                                                                                                                  • What is Economics
                                                                                                                                  • Economics ishellip
                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                  • For the videohellip
                                                                                                                                  • Slide 90
                                                                                                                                  • Post Videohellip
                                                                                                                                  • Advertisement
                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                  • Factors of Production
                                                                                                                                  • TASK
                                                                                                                                  • The price ofhellip
                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                  • 1 What to produce
                                                                                                                                  • 2 How to produce it
                                                                                                                                  • 3 For whom to produce it
                                                                                                                                  • Application Activity
                                                                                                                                  • EQs
                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                  • Slide 105
                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                  • How do we make goods amp services
                                                                                                                                  • Economic Interdependence
                                                                                                                                  • Slide 109
                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                  • Exampleshellip
                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                  • Opportunity Cost
                                                                                                                                  • What else influences your choices
                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                  • PPF Assumptions
                                                                                                                                  • Slide 121
                                                                                                                                  • Production Possibilities Curve
                                                                                                                                  • The Choices Nations Make
                                                                                                                                  • Economic Growth
                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                  • Productivity
                                                                                                                                  • Locations on a PPF
                                                                                                                                  • Slide 128
                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                  • Economic Systems
                                                                                                                                  • Jigsaw activity
                                                                                                                                  • Slide 132
                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                  • Review of Economic Systems
                                                                                                                                  • Slide 135
                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                  • Which economic system does the US use
                                                                                                                                  • The American Economic System
                                                                                                                                  • The US mixed economy
                                                                                                                                  • Slide 140
                                                                                                                                  • Think backhellip
                                                                                                                                  • US Economic System Characteristics
                                                                                                                                  • Slide 143
                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                  • Marriage Vows
                                                                                                                                  • Do you remember
                                                                                                                                  • Slide 147

                                                                                                                                    Question 6

                                                                                                                                    bullCongress in 2005 passes the Stem Cell Research Bill but President Bush vetos the bill

                                                                                                                                    CHECKS AND BALANCES

                                                                                                                                    Question 7

                                                                                                                                    bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                                    JUDICIAL REVIEW

                                                                                                                                    Question 8

                                                                                                                                    bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                                    Federalism

                                                                                                                                    GroupsPopular

                                                                                                                                    SovereigntySeparation of

                                                                                                                                    PowersFederalism

                                                                                                                                    bull bull bull

                                                                                                                                    Judicial Review

                                                                                                                                    Limited Government

                                                                                                                                    Checks and Balances

                                                                                                                                    bull bull bull

                                                                                                                                    Separation of Powers

                                                                                                                                    bull Legislative branchmdashmakes the laws

                                                                                                                                    bull Executive branchmdashenforces the laws

                                                                                                                                    bull Judicial branchmdashinterprets the law

                                                                                                                                    Video

                                                                                                                                    bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                                    Checks and Balances

                                                                                                                                    Checks and balances

                                                                                                                                    bullIn what was do the branches check on one another

                                                                                                                                    bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                    Basic Principles

                                                                                                                                    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                    Self- Worth

                                                                                                                                    bull A recognition of the fundamental worth of every person

                                                                                                                                    bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                    Compromise

                                                                                                                                    bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                    bullWhy is compromise important

                                                                                                                                    Individual Freedombull Right of the

                                                                                                                                    individual to be free as far as the freedom of all will allow

                                                                                                                                    bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                    Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                    government arehellip Create your own Constitution (Or social contract)

                                                                                                                                    What do you think is important to include What do you think could be taken out

                                                                                                                                    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                    Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                    change it)

                                                                                                                                    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                    paper

                                                                                                                                    TED Talk

                                                                                                                                    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                    Closure

                                                                                                                                    bullExplain two principles of the constitution and how are they connected

                                                                                                                                    What is Economics

                                                                                                                                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                    Important Parts of Economicsndash

                                                                                                                                    CHOICESSCARCITY

                                                                                                                                    Economics ishellip

                                                                                                                                    bullDependent upon assumptions

                                                                                                                                    bullDependent upon simplification of reality

                                                                                                                                    Back to our assumptionshellip

                                                                                                                                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                    bullAll sellers seek to maximize profits

                                                                                                                                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                    For the videohellip

                                                                                                                                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                    Post Videohellip

                                                                                                                                    bullDefine the main idea of the video in 4-5 words

                                                                                                                                    Advertisement

                                                                                                                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                    3 images that represent different economic ideas

                                                                                                                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                    1 slogan that represents why economics is an important course to take

                                                                                                                                    Political Cartoon Analysis

                                                                                                                                    Factors of Production bull LAND

                                                                                                                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                    soil minerals water and plants

                                                                                                                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                    into producing goodsservices

                                                                                                                                    bull CAPITAL Includes tools machines buildings and

                                                                                                                                    technologies

                                                                                                                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                    land labor and capital to produce goods and services

                                                                                                                                    TASK

                                                                                                                                    bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                    bullAnswer in 2-3 sentences

                                                                                                                                    The price ofhellip

                                                                                                                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                    Economic efficiency is achieved when all available resources are being used

                                                                                                                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                    1 What to produce

                                                                                                                                    bullShould it be military or civilian goods

                                                                                                                                    bullFood or clothingbullMedicine or movies

                                                                                                                                    2 How to produce it

                                                                                                                                    bullAutomated or manual labor

                                                                                                                                    bullExpensive or cheap materials

                                                                                                                                    bullDomestic or overseas labor

                                                                                                                                    3 For whom to produce it

                                                                                                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                    Application Activity

                                                                                                                                    bull In groups of 2-3 create your own country (name it please)

                                                                                                                                    bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                    withhellip Images representing what you produce and a

                                                                                                                                    slogan for why your country is awesome

                                                                                                                                    EQs

                                                                                                                                    bullHow does scarcity impact decision making

                                                                                                                                    Objectives amp Essential QuestionsbullObjectives

                                                                                                                                    I will be able to create and reflect on a budget given new economics content

                                                                                                                                    I will be able to understand scarcity and our mixed economy

                                                                                                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                    Group Activity Budget Activity

                                                                                                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                    How do we satisfy our economic wants

                                                                                                                                    bull We buy goods or services

                                                                                                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                    How do we make goods amp services

                                                                                                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                    Production Equation

                                                                                                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                    inputs output

                                                                                                                                    Economic Interdependence

                                                                                                                                    bullWhat does lsquointerdependencersquo mean

                                                                                                                                    bullIs our world becoming economic interdependent or independent

                                                                                                                                    bullEconomic Interdependence the actions of one part of the

                                                                                                                                    country (world) has an impact on what happens elsewhere

                                                                                                                                    Wants amp Needs gt

                                                                                                                                    Resources

                                                                                                                                    Because of scarcity we

                                                                                                                                    have to make choices

                                                                                                                                    How do we make a choice What do we give up

                                                                                                                                    What does this remind you of from our government unit

                                                                                                                                    Making Choices to Deal With Scarcity

                                                                                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                    decision over another

                                                                                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                    school today or should I sleep in

                                                                                                                                    Task Reflecting on Personal Trade-offshellip

                                                                                                                                    In the end what helped you decide amongst your choices

                                                                                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                    tradeoffs for that decision

                                                                                                                                    Be prepared to share

                                                                                                                                    Opportunity Cost

                                                                                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                    we want

                                                                                                                                    What else influences your choices

                                                                                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                    FinallyhellipWhy it Matters

                                                                                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                    better decision-maker

                                                                                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                    You always have to give something uphelliprdquo

                                                                                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                    decisions

                                                                                                                                    Visualizing the Relationshiphellip

                                                                                                                                    Limited Resources amp Unlimited Wants

                                                                                                                                    Scarcity

                                                                                                                                    Trade-offs (choices)

                                                                                                                                    Opportunity Costs

                                                                                                                                    ObjectivesEssential Questions

                                                                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                                                                    the three different types of economies

                                                                                                                                    bullEssential Question How do the different types of economies work

                                                                                                                                    How Can We Measure What We Gain and Lose When

                                                                                                                                    Making Choices

                                                                                                                                    Answer With a Production Possibilities Frontier

                                                                                                                                    Production Possibilities Frontier

                                                                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                    PPF Assumptions

                                                                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                    Production Possibilities Curve

                                                                                                                                    CD

                                                                                                                                    E

                                                                                                                                    OU

                                                                                                                                    TP

                                                                                                                                    UT

                                                                                                                                    OF

                                                                                                                                    CO

                                                                                                                                    NS

                                                                                                                                    UM

                                                                                                                                    ER

                                                                                                                                    GO

                                                                                                                                    OD

                                                                                                                                    S

                                                                                                                                    (un

                                                                                                                                    its

                                                                                                                                    per

                                                                                                                                    yea

                                                                                                                                    r)

                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                    A

                                                                                                                                    BO

                                                                                                                                    XF

                                                                                                                                    G

                                                                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                                                                    The Choices Nations Make

                                                                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                    bullProduce military goods or consumer goods

                                                                                                                                    Economic Growth

                                                                                                                                    2000 production possibilities

                                                                                                                                    1900 production possibilities

                                                                                                                                    OU

                                                                                                                                    TP

                                                                                                                                    UT

                                                                                                                                    OF

                                                                                                                                    CO

                                                                                                                                    NS

                                                                                                                                    UM

                                                                                                                                    ER

                                                                                                                                    GO

                                                                                                                                    OD

                                                                                                                                    S(u

                                                                                                                                    nits

                                                                                                                                    per

                                                                                                                                    yea

                                                                                                                                    r)

                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                    Production possibilities increases with more resources and technology

                                                                                                                                    The Classic Guns and Butter example

                                                                                                                                    Guns

                                                                                                                                    Butter

                                                                                                                                    10000 20000 30000 40000 50000

                                                                                                                                    1000009500085000

                                                                                                                                    70000

                                                                                                                                    5000040000

                                                                                                                                    BA

                                                                                                                                    C

                                                                                                                                    D

                                                                                                                                    E

                                                                                                                                    F

                                                                                                                                    At point A all resources are used for butter

                                                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                    At point F all resources are used for Guns

                                                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                                                    choices are

                                                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                    Locations on a PPF

                                                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                    Food

                                                                                                                                    Computer

                                                                                                                                    4

                                                                                                                                    3

                                                                                                                                    2

                                                                                                                                    1

                                                                                                                                    1 2 3 4

                                                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                    Unit

                                                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                                                    additional computers

                                                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                    Principle of Increasing Costs

                                                                                                                                    As a society produces more of one product the OC of producing

                                                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                    Economic Systems

                                                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                                                    Jigsaw activity

                                                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                                                    bull Economic Freedom

                                                                                                                                    bull Economic Efficiency

                                                                                                                                    bull Economic Equity

                                                                                                                                    bull Economic Security

                                                                                                                                    Economic Stability

                                                                                                                                    Economic Growth

                                                                                                                                    Review of Economic Systems

                                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                    What are the most important goals of each economic system

                                                                                                                                    bullTraditionalSecurity and

                                                                                                                                    StabilitybullCommand

                                                                                                                                    Equity and Security

                                                                                                                                    bullMARKETEfficiency and

                                                                                                                                    Freedom

                                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                                    Which economic system does the US use

                                                                                                                                    The American Economic System

                                                                                                                                    bullWe have a mixed market economy

                                                                                                                                    COMMAND MARKET

                                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                    Think backhellip

                                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                    2 Limited government

                                                                                                                                    3 Equal opportunity

                                                                                                                                    4 Competition

                                                                                                                                    5 Profit motive

                                                                                                                                    6 Property Rights

                                                                                                                                    7 Binding Contracts

                                                                                                                                    Understanding how all parts fit together

                                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                    Shows interdependence between

                                                                                                                                    businesses and individuals

                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                    Do you remember

                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                    democracy and mixed economy

                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                    • Slide 3
                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                    • Slide 6
                                                                                                                                    • 2 How about to your life
                                                                                                                                    • Slide 8
                                                                                                                                    • Slide 9
                                                                                                                                    • Slide 10
                                                                                                                                    • Slide 11
                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                    • Individualism
                                                                                                                                    • Quote activity
                                                                                                                                    • Quote breakdown
                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                    • Purpose of Government
                                                                                                                                    • Slide 20
                                                                                                                                    • 3 Theorists
                                                                                                                                    • Activity
                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                    • Groups Block 2
                                                                                                                                    • Groups Block 4
                                                                                                                                    • Balloon Game
                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                    • Political Theories
                                                                                                                                    • Social Contract
                                                                                                                                    • Natural Rights
                                                                                                                                    • Democracy
                                                                                                                                    • Concepts of Government
                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                    • Warm Up 7
                                                                                                                                    • And after the Constitution
                                                                                                                                    • Activity (2)
                                                                                                                                    • Picture Activity
                                                                                                                                    • Constitutional Convention
                                                                                                                                    • Purpose of the Convention
                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                    • Your Task
                                                                                                                                    • Closure
                                                                                                                                    • States agree
                                                                                                                                    • Quote
                                                                                                                                    • Structure of Constitution
                                                                                                                                    • Structure of Constitution
                                                                                                                                    • 6 Purpose of Government
                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                    • Principles of Constitution
                                                                                                                                    • Activity
                                                                                                                                    • Slide 60
                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                    • Question 1
                                                                                                                                    • Question 2
                                                                                                                                    • Question 3
                                                                                                                                    • Question 4
                                                                                                                                    • Question 5
                                                                                                                                    • Question 6
                                                                                                                                    • Question 7
                                                                                                                                    • Question 8
                                                                                                                                    • Groups
                                                                                                                                    • Separation of Powers
                                                                                                                                    • Video
                                                                                                                                    • Checks and Balances
                                                                                                                                    • Slide 74
                                                                                                                                    • Checks and balances
                                                                                                                                    • Basic Principles
                                                                                                                                    • Self- Worth
                                                                                                                                    • Equality
                                                                                                                                    • Compromise
                                                                                                                                    • Individual Freedom
                                                                                                                                    • Write your ownhellip
                                                                                                                                    • Slide 82
                                                                                                                                    • TED Talk
                                                                                                                                    • Closure
                                                                                                                                    • What is Economics
                                                                                                                                    • Economics ishellip
                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                    • For the videohellip
                                                                                                                                    • Slide 90
                                                                                                                                    • Post Videohellip
                                                                                                                                    • Advertisement
                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                    • Factors of Production
                                                                                                                                    • TASK
                                                                                                                                    • The price ofhellip
                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                    • 1 What to produce
                                                                                                                                    • 2 How to produce it
                                                                                                                                    • 3 For whom to produce it
                                                                                                                                    • Application Activity
                                                                                                                                    • EQs
                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                    • Slide 105
                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                    • How do we make goods amp services
                                                                                                                                    • Economic Interdependence
                                                                                                                                    • Slide 109
                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                    • Exampleshellip
                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                    • Opportunity Cost
                                                                                                                                    • What else influences your choices
                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                    • PPF Assumptions
                                                                                                                                    • Slide 121
                                                                                                                                    • Production Possibilities Curve
                                                                                                                                    • The Choices Nations Make
                                                                                                                                    • Economic Growth
                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                    • Productivity
                                                                                                                                    • Locations on a PPF
                                                                                                                                    • Slide 128
                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                    • Economic Systems
                                                                                                                                    • Jigsaw activity
                                                                                                                                    • Slide 132
                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                    • Review of Economic Systems
                                                                                                                                    • Slide 135
                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                    • Which economic system does the US use
                                                                                                                                    • The American Economic System
                                                                                                                                    • The US mixed economy
                                                                                                                                    • Slide 140
                                                                                                                                    • Think backhellip
                                                                                                                                    • US Economic System Characteristics
                                                                                                                                    • Slide 143
                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                    • Marriage Vows
                                                                                                                                    • Do you remember
                                                                                                                                    • Slide 147

                                                                                                                                      Question 7

                                                                                                                                      bullThe Supreme Court in 1954 determined that ldquoseparate but equalrdquo was not constitutional and overturned the Plessy vs Ferguson ruling

                                                                                                                                      JUDICIAL REVIEW

                                                                                                                                      Question 8

                                                                                                                                      bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                                      Federalism

                                                                                                                                      GroupsPopular

                                                                                                                                      SovereigntySeparation of

                                                                                                                                      PowersFederalism

                                                                                                                                      bull bull bull

                                                                                                                                      Judicial Review

                                                                                                                                      Limited Government

                                                                                                                                      Checks and Balances

                                                                                                                                      bull bull bull

                                                                                                                                      Separation of Powers

                                                                                                                                      bull Legislative branchmdashmakes the laws

                                                                                                                                      bull Executive branchmdashenforces the laws

                                                                                                                                      bull Judicial branchmdashinterprets the law

                                                                                                                                      Video

                                                                                                                                      bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                                      Checks and Balances

                                                                                                                                      Checks and balances

                                                                                                                                      bullIn what was do the branches check on one another

                                                                                                                                      bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                      Basic Principles

                                                                                                                                      bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                      Self- Worth

                                                                                                                                      bull A recognition of the fundamental worth of every person

                                                                                                                                      bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                      Compromise

                                                                                                                                      bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                      bullWhy is compromise important

                                                                                                                                      Individual Freedombull Right of the

                                                                                                                                      individual to be free as far as the freedom of all will allow

                                                                                                                                      bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                      Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                      government arehellip Create your own Constitution (Or social contract)

                                                                                                                                      What do you think is important to include What do you think could be taken out

                                                                                                                                      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                      Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                      change it)

                                                                                                                                      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                      paper

                                                                                                                                      TED Talk

                                                                                                                                      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                      Closure

                                                                                                                                      bullExplain two principles of the constitution and how are they connected

                                                                                                                                      What is Economics

                                                                                                                                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                      Important Parts of Economicsndash

                                                                                                                                      CHOICESSCARCITY

                                                                                                                                      Economics ishellip

                                                                                                                                      bullDependent upon assumptions

                                                                                                                                      bullDependent upon simplification of reality

                                                                                                                                      Back to our assumptionshellip

                                                                                                                                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                      bullAll sellers seek to maximize profits

                                                                                                                                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                      For the videohellip

                                                                                                                                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                      Post Videohellip

                                                                                                                                      bullDefine the main idea of the video in 4-5 words

                                                                                                                                      Advertisement

                                                                                                                                      bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                      3 images that represent different economic ideas

                                                                                                                                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                      1 slogan that represents why economics is an important course to take

                                                                                                                                      Political Cartoon Analysis

                                                                                                                                      Factors of Production bull LAND

                                                                                                                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                      soil minerals water and plants

                                                                                                                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                      into producing goodsservices

                                                                                                                                      bull CAPITAL Includes tools machines buildings and

                                                                                                                                      technologies

                                                                                                                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                      land labor and capital to produce goods and services

                                                                                                                                      TASK

                                                                                                                                      bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                      bullAnswer in 2-3 sentences

                                                                                                                                      The price ofhellip

                                                                                                                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                      Economic efficiency is achieved when all available resources are being used

                                                                                                                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                      1 What to produce

                                                                                                                                      bullShould it be military or civilian goods

                                                                                                                                      bullFood or clothingbullMedicine or movies

                                                                                                                                      2 How to produce it

                                                                                                                                      bullAutomated or manual labor

                                                                                                                                      bullExpensive or cheap materials

                                                                                                                                      bullDomestic or overseas labor

                                                                                                                                      3 For whom to produce it

                                                                                                                                      bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                      Application Activity

                                                                                                                                      bull In groups of 2-3 create your own country (name it please)

                                                                                                                                      bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                      withhellip Images representing what you produce and a

                                                                                                                                      slogan for why your country is awesome

                                                                                                                                      EQs

                                                                                                                                      bullHow does scarcity impact decision making

                                                                                                                                      Objectives amp Essential QuestionsbullObjectives

                                                                                                                                      I will be able to create and reflect on a budget given new economics content

                                                                                                                                      I will be able to understand scarcity and our mixed economy

                                                                                                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                      Group Activity Budget Activity

                                                                                                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                      How do we satisfy our economic wants

                                                                                                                                      bull We buy goods or services

                                                                                                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                      How do we make goods amp services

                                                                                                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                      Production Equation

                                                                                                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                      inputs output

                                                                                                                                      Economic Interdependence

                                                                                                                                      bullWhat does lsquointerdependencersquo mean

                                                                                                                                      bullIs our world becoming economic interdependent or independent

                                                                                                                                      bullEconomic Interdependence the actions of one part of the

                                                                                                                                      country (world) has an impact on what happens elsewhere

                                                                                                                                      Wants amp Needs gt

                                                                                                                                      Resources

                                                                                                                                      Because of scarcity we

                                                                                                                                      have to make choices

                                                                                                                                      How do we make a choice What do we give up

                                                                                                                                      What does this remind you of from our government unit

                                                                                                                                      Making Choices to Deal With Scarcity

                                                                                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                      decision over another

                                                                                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                      school today or should I sleep in

                                                                                                                                      Task Reflecting on Personal Trade-offshellip

                                                                                                                                      In the end what helped you decide amongst your choices

                                                                                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                      tradeoffs for that decision

                                                                                                                                      Be prepared to share

                                                                                                                                      Opportunity Cost

                                                                                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                      we want

                                                                                                                                      What else influences your choices

                                                                                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                      FinallyhellipWhy it Matters

                                                                                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                      better decision-maker

                                                                                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                      You always have to give something uphelliprdquo

                                                                                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                      decisions

                                                                                                                                      Visualizing the Relationshiphellip

                                                                                                                                      Limited Resources amp Unlimited Wants

                                                                                                                                      Scarcity

                                                                                                                                      Trade-offs (choices)

                                                                                                                                      Opportunity Costs

                                                                                                                                      ObjectivesEssential Questions

                                                                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                                                                      the three different types of economies

                                                                                                                                      bullEssential Question How do the different types of economies work

                                                                                                                                      How Can We Measure What We Gain and Lose When

                                                                                                                                      Making Choices

                                                                                                                                      Answer With a Production Possibilities Frontier

                                                                                                                                      Production Possibilities Frontier

                                                                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                      PPF Assumptions

                                                                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                      Production Possibilities Curve

                                                                                                                                      CD

                                                                                                                                      E

                                                                                                                                      OU

                                                                                                                                      TP

                                                                                                                                      UT

                                                                                                                                      OF

                                                                                                                                      CO

                                                                                                                                      NS

                                                                                                                                      UM

                                                                                                                                      ER

                                                                                                                                      GO

                                                                                                                                      OD

                                                                                                                                      S

                                                                                                                                      (un

                                                                                                                                      its

                                                                                                                                      per

                                                                                                                                      yea

                                                                                                                                      r)

                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                      A

                                                                                                                                      BO

                                                                                                                                      XF

                                                                                                                                      G

                                                                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                                                                      The Choices Nations Make

                                                                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                      bullProduce military goods or consumer goods

                                                                                                                                      Economic Growth

                                                                                                                                      2000 production possibilities

                                                                                                                                      1900 production possibilities

                                                                                                                                      OU

                                                                                                                                      TP

                                                                                                                                      UT

                                                                                                                                      OF

                                                                                                                                      CO

                                                                                                                                      NS

                                                                                                                                      UM

                                                                                                                                      ER

                                                                                                                                      GO

                                                                                                                                      OD

                                                                                                                                      S(u

                                                                                                                                      nits

                                                                                                                                      per

                                                                                                                                      yea

                                                                                                                                      r)

                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                      Production possibilities increases with more resources and technology

                                                                                                                                      The Classic Guns and Butter example

                                                                                                                                      Guns

                                                                                                                                      Butter

                                                                                                                                      10000 20000 30000 40000 50000

                                                                                                                                      1000009500085000

                                                                                                                                      70000

                                                                                                                                      5000040000

                                                                                                                                      BA

                                                                                                                                      C

                                                                                                                                      D

                                                                                                                                      E

                                                                                                                                      F

                                                                                                                                      At point A all resources are used for butter

                                                                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                      At point F all resources are used for Guns

                                                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                                                      choices are

                                                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                      Locations on a PPF

                                                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                      Food

                                                                                                                                      Computer

                                                                                                                                      4

                                                                                                                                      3

                                                                                                                                      2

                                                                                                                                      1

                                                                                                                                      1 2 3 4

                                                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                      Unit

                                                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                                                      additional computers

                                                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                      Principle of Increasing Costs

                                                                                                                                      As a society produces more of one product the OC of producing

                                                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                      Economic Systems

                                                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                                                      Jigsaw activity

                                                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                                                      bull Economic Freedom

                                                                                                                                      bull Economic Efficiency

                                                                                                                                      bull Economic Equity

                                                                                                                                      bull Economic Security

                                                                                                                                      Economic Stability

                                                                                                                                      Economic Growth

                                                                                                                                      Review of Economic Systems

                                                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                      What are the most important goals of each economic system

                                                                                                                                      bullTraditionalSecurity and

                                                                                                                                      StabilitybullCommand

                                                                                                                                      Equity and Security

                                                                                                                                      bullMARKETEfficiency and

                                                                                                                                      Freedom

                                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                                      Which economic system does the US use

                                                                                                                                      The American Economic System

                                                                                                                                      bullWe have a mixed market economy

                                                                                                                                      COMMAND MARKET

                                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                      Think backhellip

                                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                      2 Limited government

                                                                                                                                      3 Equal opportunity

                                                                                                                                      4 Competition

                                                                                                                                      5 Profit motive

                                                                                                                                      6 Property Rights

                                                                                                                                      7 Binding Contracts

                                                                                                                                      Understanding how all parts fit together

                                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                      Shows interdependence between

                                                                                                                                      businesses and individuals

                                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                      Do you remember

                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                      democracy and mixed economy

                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                      • Slide 3
                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                      • Slide 6
                                                                                                                                      • 2 How about to your life
                                                                                                                                      • Slide 8
                                                                                                                                      • Slide 9
                                                                                                                                      • Slide 10
                                                                                                                                      • Slide 11
                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                      • Individualism
                                                                                                                                      • Quote activity
                                                                                                                                      • Quote breakdown
                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                      • Purpose of Government
                                                                                                                                      • Slide 20
                                                                                                                                      • 3 Theorists
                                                                                                                                      • Activity
                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                      • Groups Block 2
                                                                                                                                      • Groups Block 4
                                                                                                                                      • Balloon Game
                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                      • Political Theories
                                                                                                                                      • Social Contract
                                                                                                                                      • Natural Rights
                                                                                                                                      • Democracy
                                                                                                                                      • Concepts of Government
                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                      • Warm Up 7
                                                                                                                                      • And after the Constitution
                                                                                                                                      • Activity (2)
                                                                                                                                      • Picture Activity
                                                                                                                                      • Constitutional Convention
                                                                                                                                      • Purpose of the Convention
                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                      • Your Task
                                                                                                                                      • Closure
                                                                                                                                      • States agree
                                                                                                                                      • Quote
                                                                                                                                      • Structure of Constitution
                                                                                                                                      • Structure of Constitution
                                                                                                                                      • 6 Purpose of Government
                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                      • Principles of Constitution
                                                                                                                                      • Activity
                                                                                                                                      • Slide 60
                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                      • Question 1
                                                                                                                                      • Question 2
                                                                                                                                      • Question 3
                                                                                                                                      • Question 4
                                                                                                                                      • Question 5
                                                                                                                                      • Question 6
                                                                                                                                      • Question 7
                                                                                                                                      • Question 8
                                                                                                                                      • Groups
                                                                                                                                      • Separation of Powers
                                                                                                                                      • Video
                                                                                                                                      • Checks and Balances
                                                                                                                                      • Slide 74
                                                                                                                                      • Checks and balances
                                                                                                                                      • Basic Principles
                                                                                                                                      • Self- Worth
                                                                                                                                      • Equality
                                                                                                                                      • Compromise
                                                                                                                                      • Individual Freedom
                                                                                                                                      • Write your ownhellip
                                                                                                                                      • Slide 82
                                                                                                                                      • TED Talk
                                                                                                                                      • Closure
                                                                                                                                      • What is Economics
                                                                                                                                      • Economics ishellip
                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                      • For the videohellip
                                                                                                                                      • Slide 90
                                                                                                                                      • Post Videohellip
                                                                                                                                      • Advertisement
                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                      • Factors of Production
                                                                                                                                      • TASK
                                                                                                                                      • The price ofhellip
                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                      • 1 What to produce
                                                                                                                                      • 2 How to produce it
                                                                                                                                      • 3 For whom to produce it
                                                                                                                                      • Application Activity
                                                                                                                                      • EQs
                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                      • Slide 105
                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                      • How do we make goods amp services
                                                                                                                                      • Economic Interdependence
                                                                                                                                      • Slide 109
                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                      • Exampleshellip
                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                      • Opportunity Cost
                                                                                                                                      • What else influences your choices
                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                      • PPF Assumptions
                                                                                                                                      • Slide 121
                                                                                                                                      • Production Possibilities Curve
                                                                                                                                      • The Choices Nations Make
                                                                                                                                      • Economic Growth
                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                      • Productivity
                                                                                                                                      • Locations on a PPF
                                                                                                                                      • Slide 128
                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                      • Economic Systems
                                                                                                                                      • Jigsaw activity
                                                                                                                                      • Slide 132
                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                      • Review of Economic Systems
                                                                                                                                      • Slide 135
                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                      • Which economic system does the US use
                                                                                                                                      • The American Economic System
                                                                                                                                      • The US mixed economy
                                                                                                                                      • Slide 140
                                                                                                                                      • Think backhellip
                                                                                                                                      • US Economic System Characteristics
                                                                                                                                      • Slide 143
                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                      • Marriage Vows
                                                                                                                                      • Do you remember
                                                                                                                                      • Slide 147

                                                                                                                                        Question 8

                                                                                                                                        bullVA has a law that requires all candidates for a professional cosmeticianrsquos license complete classroom hours an unpaid internship and pass a qualifying test

                                                                                                                                        Federalism

                                                                                                                                        GroupsPopular

                                                                                                                                        SovereigntySeparation of

                                                                                                                                        PowersFederalism

                                                                                                                                        bull bull bull

                                                                                                                                        Judicial Review

                                                                                                                                        Limited Government

                                                                                                                                        Checks and Balances

                                                                                                                                        bull bull bull

                                                                                                                                        Separation of Powers

                                                                                                                                        bull Legislative branchmdashmakes the laws

                                                                                                                                        bull Executive branchmdashenforces the laws

                                                                                                                                        bull Judicial branchmdashinterprets the law

                                                                                                                                        Video

                                                                                                                                        bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                                        Checks and Balances

                                                                                                                                        Checks and balances

                                                                                                                                        bullIn what was do the branches check on one another

                                                                                                                                        bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                        Basic Principles

                                                                                                                                        bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                        Self- Worth

                                                                                                                                        bull A recognition of the fundamental worth of every person

                                                                                                                                        bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                        Compromise

                                                                                                                                        bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                        bullWhy is compromise important

                                                                                                                                        Individual Freedombull Right of the

                                                                                                                                        individual to be free as far as the freedom of all will allow

                                                                                                                                        bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                        Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                        government arehellip Create your own Constitution (Or social contract)

                                                                                                                                        What do you think is important to include What do you think could be taken out

                                                                                                                                        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                        Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                        change it)

                                                                                                                                        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                        paper

                                                                                                                                        TED Talk

                                                                                                                                        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                        Closure

                                                                                                                                        bullExplain two principles of the constitution and how are they connected

                                                                                                                                        What is Economics

                                                                                                                                        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                        Important Parts of Economicsndash

                                                                                                                                        CHOICESSCARCITY

                                                                                                                                        Economics ishellip

                                                                                                                                        bullDependent upon assumptions

                                                                                                                                        bullDependent upon simplification of reality

                                                                                                                                        Back to our assumptionshellip

                                                                                                                                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                        bullAll sellers seek to maximize profits

                                                                                                                                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                        For the videohellip

                                                                                                                                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                        Post Videohellip

                                                                                                                                        bullDefine the main idea of the video in 4-5 words

                                                                                                                                        Advertisement

                                                                                                                                        bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                        3 images that represent different economic ideas

                                                                                                                                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                        1 slogan that represents why economics is an important course to take

                                                                                                                                        Political Cartoon Analysis

                                                                                                                                        Factors of Production bull LAND

                                                                                                                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                        soil minerals water and plants

                                                                                                                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                        into producing goodsservices

                                                                                                                                        bull CAPITAL Includes tools machines buildings and

                                                                                                                                        technologies

                                                                                                                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                        land labor and capital to produce goods and services

                                                                                                                                        TASK

                                                                                                                                        bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                        bullAnswer in 2-3 sentences

                                                                                                                                        The price ofhellip

                                                                                                                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                        Economic efficiency is achieved when all available resources are being used

                                                                                                                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                        1 What to produce

                                                                                                                                        bullShould it be military or civilian goods

                                                                                                                                        bullFood or clothingbullMedicine or movies

                                                                                                                                        2 How to produce it

                                                                                                                                        bullAutomated or manual labor

                                                                                                                                        bullExpensive or cheap materials

                                                                                                                                        bullDomestic or overseas labor

                                                                                                                                        3 For whom to produce it

                                                                                                                                        bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                        Application Activity

                                                                                                                                        bull In groups of 2-3 create your own country (name it please)

                                                                                                                                        bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                        information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                        answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                        withhellip Images representing what you produce and a

                                                                                                                                        slogan for why your country is awesome

                                                                                                                                        EQs

                                                                                                                                        bullHow does scarcity impact decision making

                                                                                                                                        Objectives amp Essential QuestionsbullObjectives

                                                                                                                                        I will be able to create and reflect on a budget given new economics content

                                                                                                                                        I will be able to understand scarcity and our mixed economy

                                                                                                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                        Group Activity Budget Activity

                                                                                                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                        How do we satisfy our economic wants

                                                                                                                                        bull We buy goods or services

                                                                                                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                        How do we make goods amp services

                                                                                                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                        Production Equation

                                                                                                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                        inputs output

                                                                                                                                        Economic Interdependence

                                                                                                                                        bullWhat does lsquointerdependencersquo mean

                                                                                                                                        bullIs our world becoming economic interdependent or independent

                                                                                                                                        bullEconomic Interdependence the actions of one part of the

                                                                                                                                        country (world) has an impact on what happens elsewhere

                                                                                                                                        Wants amp Needs gt

                                                                                                                                        Resources

                                                                                                                                        Because of scarcity we

                                                                                                                                        have to make choices

                                                                                                                                        How do we make a choice What do we give up

                                                                                                                                        What does this remind you of from our government unit

                                                                                                                                        Making Choices to Deal With Scarcity

                                                                                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                        decision over another

                                                                                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                        school today or should I sleep in

                                                                                                                                        Task Reflecting on Personal Trade-offshellip

                                                                                                                                        In the end what helped you decide amongst your choices

                                                                                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                        tradeoffs for that decision

                                                                                                                                        Be prepared to share

                                                                                                                                        Opportunity Cost

                                                                                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                        we want

                                                                                                                                        What else influences your choices

                                                                                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                        FinallyhellipWhy it Matters

                                                                                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                        better decision-maker

                                                                                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                        You always have to give something uphelliprdquo

                                                                                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                        decisions

                                                                                                                                        Visualizing the Relationshiphellip

                                                                                                                                        Limited Resources amp Unlimited Wants

                                                                                                                                        Scarcity

                                                                                                                                        Trade-offs (choices)

                                                                                                                                        Opportunity Costs

                                                                                                                                        ObjectivesEssential Questions

                                                                                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                                                                                        the three different types of economies

                                                                                                                                        bullEssential Question How do the different types of economies work

                                                                                                                                        How Can We Measure What We Gain and Lose When

                                                                                                                                        Making Choices

                                                                                                                                        Answer With a Production Possibilities Frontier

                                                                                                                                        Production Possibilities Frontier

                                                                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                        PPF Assumptions

                                                                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                        Production Possibilities Curve

                                                                                                                                        CD

                                                                                                                                        E

                                                                                                                                        OU

                                                                                                                                        TP

                                                                                                                                        UT

                                                                                                                                        OF

                                                                                                                                        CO

                                                                                                                                        NS

                                                                                                                                        UM

                                                                                                                                        ER

                                                                                                                                        GO

                                                                                                                                        OD

                                                                                                                                        S

                                                                                                                                        (un

                                                                                                                                        its

                                                                                                                                        per

                                                                                                                                        yea

                                                                                                                                        r)

                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                        A

                                                                                                                                        BO

                                                                                                                                        XF

                                                                                                                                        G

                                                                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                                                                        The Choices Nations Make

                                                                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                        bullProduce military goods or consumer goods

                                                                                                                                        Economic Growth

                                                                                                                                        2000 production possibilities

                                                                                                                                        1900 production possibilities

                                                                                                                                        OU

                                                                                                                                        TP

                                                                                                                                        UT

                                                                                                                                        OF

                                                                                                                                        CO

                                                                                                                                        NS

                                                                                                                                        UM

                                                                                                                                        ER

                                                                                                                                        GO

                                                                                                                                        OD

                                                                                                                                        S(u

                                                                                                                                        nits

                                                                                                                                        per

                                                                                                                                        yea

                                                                                                                                        r)

                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                        Production possibilities increases with more resources and technology

                                                                                                                                        The Classic Guns and Butter example

                                                                                                                                        Guns

                                                                                                                                        Butter

                                                                                                                                        10000 20000 30000 40000 50000

                                                                                                                                        1000009500085000

                                                                                                                                        70000

                                                                                                                                        5000040000

                                                                                                                                        BA

                                                                                                                                        C

                                                                                                                                        D

                                                                                                                                        E

                                                                                                                                        F

                                                                                                                                        At point A all resources are used for butter

                                                                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                        At point F all resources are used for Guns

                                                                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                                                                        choices are

                                                                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                        Locations on a PPF

                                                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                        Food

                                                                                                                                        Computer

                                                                                                                                        4

                                                                                                                                        3

                                                                                                                                        2

                                                                                                                                        1

                                                                                                                                        1 2 3 4

                                                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                        Unit

                                                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                                                        additional computers

                                                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                        Principle of Increasing Costs

                                                                                                                                        As a society produces more of one product the OC of producing

                                                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                        Economic Systems

                                                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                                                        Jigsaw activity

                                                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                                                        bull Economic Freedom

                                                                                                                                        bull Economic Efficiency

                                                                                                                                        bull Economic Equity

                                                                                                                                        bull Economic Security

                                                                                                                                        Economic Stability

                                                                                                                                        Economic Growth

                                                                                                                                        Review of Economic Systems

                                                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                        What are the most important goals of each economic system

                                                                                                                                        bullTraditionalSecurity and

                                                                                                                                        StabilitybullCommand

                                                                                                                                        Equity and Security

                                                                                                                                        bullMARKETEfficiency and

                                                                                                                                        Freedom

                                                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                                                        Which economic system does the US use

                                                                                                                                        The American Economic System

                                                                                                                                        bullWe have a mixed market economy

                                                                                                                                        COMMAND MARKET

                                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                        Think backhellip

                                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                        2 Limited government

                                                                                                                                        3 Equal opportunity

                                                                                                                                        4 Competition

                                                                                                                                        5 Profit motive

                                                                                                                                        6 Property Rights

                                                                                                                                        7 Binding Contracts

                                                                                                                                        Understanding how all parts fit together

                                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                        Shows interdependence between

                                                                                                                                        businesses and individuals

                                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                        Do you remember

                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                        democracy and mixed economy

                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                        • Slide 3
                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                        • Slide 6
                                                                                                                                        • 2 How about to your life
                                                                                                                                        • Slide 8
                                                                                                                                        • Slide 9
                                                                                                                                        • Slide 10
                                                                                                                                        • Slide 11
                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                        • Individualism
                                                                                                                                        • Quote activity
                                                                                                                                        • Quote breakdown
                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                        • Purpose of Government
                                                                                                                                        • Slide 20
                                                                                                                                        • 3 Theorists
                                                                                                                                        • Activity
                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                        • Groups Block 2
                                                                                                                                        • Groups Block 4
                                                                                                                                        • Balloon Game
                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                        • Political Theories
                                                                                                                                        • Social Contract
                                                                                                                                        • Natural Rights
                                                                                                                                        • Democracy
                                                                                                                                        • Concepts of Government
                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                        • Warm Up 7
                                                                                                                                        • And after the Constitution
                                                                                                                                        • Activity (2)
                                                                                                                                        • Picture Activity
                                                                                                                                        • Constitutional Convention
                                                                                                                                        • Purpose of the Convention
                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                        • Your Task
                                                                                                                                        • Closure
                                                                                                                                        • States agree
                                                                                                                                        • Quote
                                                                                                                                        • Structure of Constitution
                                                                                                                                        • Structure of Constitution
                                                                                                                                        • 6 Purpose of Government
                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                        • Principles of Constitution
                                                                                                                                        • Activity
                                                                                                                                        • Slide 60
                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                        • Question 1
                                                                                                                                        • Question 2
                                                                                                                                        • Question 3
                                                                                                                                        • Question 4
                                                                                                                                        • Question 5
                                                                                                                                        • Question 6
                                                                                                                                        • Question 7
                                                                                                                                        • Question 8
                                                                                                                                        • Groups
                                                                                                                                        • Separation of Powers
                                                                                                                                        • Video
                                                                                                                                        • Checks and Balances
                                                                                                                                        • Slide 74
                                                                                                                                        • Checks and balances
                                                                                                                                        • Basic Principles
                                                                                                                                        • Self- Worth
                                                                                                                                        • Equality
                                                                                                                                        • Compromise
                                                                                                                                        • Individual Freedom
                                                                                                                                        • Write your ownhellip
                                                                                                                                        • Slide 82
                                                                                                                                        • TED Talk
                                                                                                                                        • Closure
                                                                                                                                        • What is Economics
                                                                                                                                        • Economics ishellip
                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                        • For the videohellip
                                                                                                                                        • Slide 90
                                                                                                                                        • Post Videohellip
                                                                                                                                        • Advertisement
                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                        • Factors of Production
                                                                                                                                        • TASK
                                                                                                                                        • The price ofhellip
                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                        • 1 What to produce
                                                                                                                                        • 2 How to produce it
                                                                                                                                        • 3 For whom to produce it
                                                                                                                                        • Application Activity
                                                                                                                                        • EQs
                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                        • Slide 105
                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                        • How do we make goods amp services
                                                                                                                                        • Economic Interdependence
                                                                                                                                        • Slide 109
                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                        • Exampleshellip
                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                        • Opportunity Cost
                                                                                                                                        • What else influences your choices
                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                        • PPF Assumptions
                                                                                                                                        • Slide 121
                                                                                                                                        • Production Possibilities Curve
                                                                                                                                        • The Choices Nations Make
                                                                                                                                        • Economic Growth
                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                        • Productivity
                                                                                                                                        • Locations on a PPF
                                                                                                                                        • Slide 128
                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                        • Economic Systems
                                                                                                                                        • Jigsaw activity
                                                                                                                                        • Slide 132
                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                        • Review of Economic Systems
                                                                                                                                        • Slide 135
                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                        • Which economic system does the US use
                                                                                                                                        • The American Economic System
                                                                                                                                        • The US mixed economy
                                                                                                                                        • Slide 140
                                                                                                                                        • Think backhellip
                                                                                                                                        • US Economic System Characteristics
                                                                                                                                        • Slide 143
                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                        • Marriage Vows
                                                                                                                                        • Do you remember
                                                                                                                                        • Slide 147

                                                                                                                                          GroupsPopular

                                                                                                                                          SovereigntySeparation of

                                                                                                                                          PowersFederalism

                                                                                                                                          bull bull bull

                                                                                                                                          Judicial Review

                                                                                                                                          Limited Government

                                                                                                                                          Checks and Balances

                                                                                                                                          bull bull bull

                                                                                                                                          Separation of Powers

                                                                                                                                          bull Legislative branchmdashmakes the laws

                                                                                                                                          bull Executive branchmdashenforces the laws

                                                                                                                                          bull Judicial branchmdashinterprets the law

                                                                                                                                          Video

                                                                                                                                          bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                                          Checks and Balances

                                                                                                                                          Checks and balances

                                                                                                                                          bullIn what was do the branches check on one another

                                                                                                                                          bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                          Basic Principles

                                                                                                                                          bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                          Self- Worth

                                                                                                                                          bull A recognition of the fundamental worth of every person

                                                                                                                                          bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                          Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                          bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                          bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                          Compromise

                                                                                                                                          bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                          bullWhy is compromise important

                                                                                                                                          Individual Freedombull Right of the

                                                                                                                                          individual to be free as far as the freedom of all will allow

                                                                                                                                          bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                          Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                          government arehellip Create your own Constitution (Or social contract)

                                                                                                                                          What do you think is important to include What do you think could be taken out

                                                                                                                                          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                          Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                          change it)

                                                                                                                                          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                          paper

                                                                                                                                          TED Talk

                                                                                                                                          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                          Closure

                                                                                                                                          bullExplain two principles of the constitution and how are they connected

                                                                                                                                          What is Economics

                                                                                                                                          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                          Important Parts of Economicsndash

                                                                                                                                          CHOICESSCARCITY

                                                                                                                                          Economics ishellip

                                                                                                                                          bullDependent upon assumptions

                                                                                                                                          bullDependent upon simplification of reality

                                                                                                                                          Back to our assumptionshellip

                                                                                                                                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                          bullAll sellers seek to maximize profits

                                                                                                                                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                          For the videohellip

                                                                                                                                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                          Post Videohellip

                                                                                                                                          bullDefine the main idea of the video in 4-5 words

                                                                                                                                          Advertisement

                                                                                                                                          bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                          3 images that represent different economic ideas

                                                                                                                                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                          1 slogan that represents why economics is an important course to take

                                                                                                                                          Political Cartoon Analysis

                                                                                                                                          Factors of Production bull LAND

                                                                                                                                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                          soil minerals water and plants

                                                                                                                                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                          into producing goodsservices

                                                                                                                                          bull CAPITAL Includes tools machines buildings and

                                                                                                                                          technologies

                                                                                                                                          bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                          land labor and capital to produce goods and services

                                                                                                                                          TASK

                                                                                                                                          bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                          bullAnswer in 2-3 sentences

                                                                                                                                          The price ofhellip

                                                                                                                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                          Economic efficiency is achieved when all available resources are being used

                                                                                                                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                          1 What to produce

                                                                                                                                          bullShould it be military or civilian goods

                                                                                                                                          bullFood or clothingbullMedicine or movies

                                                                                                                                          2 How to produce it

                                                                                                                                          bullAutomated or manual labor

                                                                                                                                          bullExpensive or cheap materials

                                                                                                                                          bullDomestic or overseas labor

                                                                                                                                          3 For whom to produce it

                                                                                                                                          bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                          Application Activity

                                                                                                                                          bull In groups of 2-3 create your own country (name it please)

                                                                                                                                          bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                          information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                          answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                          withhellip Images representing what you produce and a

                                                                                                                                          slogan for why your country is awesome

                                                                                                                                          EQs

                                                                                                                                          bullHow does scarcity impact decision making

                                                                                                                                          Objectives amp Essential QuestionsbullObjectives

                                                                                                                                          I will be able to create and reflect on a budget given new economics content

                                                                                                                                          I will be able to understand scarcity and our mixed economy

                                                                                                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                          Group Activity Budget Activity

                                                                                                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                          How do we satisfy our economic wants

                                                                                                                                          bull We buy goods or services

                                                                                                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                          How do we make goods amp services

                                                                                                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                          Production Equation

                                                                                                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                          inputs output

                                                                                                                                          Economic Interdependence

                                                                                                                                          bullWhat does lsquointerdependencersquo mean

                                                                                                                                          bullIs our world becoming economic interdependent or independent

                                                                                                                                          bullEconomic Interdependence the actions of one part of the

                                                                                                                                          country (world) has an impact on what happens elsewhere

                                                                                                                                          Wants amp Needs gt

                                                                                                                                          Resources

                                                                                                                                          Because of scarcity we

                                                                                                                                          have to make choices

                                                                                                                                          How do we make a choice What do we give up

                                                                                                                                          What does this remind you of from our government unit

                                                                                                                                          Making Choices to Deal With Scarcity

                                                                                                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                          decision over another

                                                                                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                          school today or should I sleep in

                                                                                                                                          Task Reflecting on Personal Trade-offshellip

                                                                                                                                          In the end what helped you decide amongst your choices

                                                                                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                          tradeoffs for that decision

                                                                                                                                          Be prepared to share

                                                                                                                                          Opportunity Cost

                                                                                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                          we want

                                                                                                                                          What else influences your choices

                                                                                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                          FinallyhellipWhy it Matters

                                                                                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                          better decision-maker

                                                                                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                          You always have to give something uphelliprdquo

                                                                                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                          decisions

                                                                                                                                          Visualizing the Relationshiphellip

                                                                                                                                          Limited Resources amp Unlimited Wants

                                                                                                                                          Scarcity

                                                                                                                                          Trade-offs (choices)

                                                                                                                                          Opportunity Costs

                                                                                                                                          ObjectivesEssential Questions

                                                                                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                                                                                          the three different types of economies

                                                                                                                                          bullEssential Question How do the different types of economies work

                                                                                                                                          How Can We Measure What We Gain and Lose When

                                                                                                                                          Making Choices

                                                                                                                                          Answer With a Production Possibilities Frontier

                                                                                                                                          Production Possibilities Frontier

                                                                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                          PPF Assumptions

                                                                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                          Production Possibilities Curve

                                                                                                                                          CD

                                                                                                                                          E

                                                                                                                                          OU

                                                                                                                                          TP

                                                                                                                                          UT

                                                                                                                                          OF

                                                                                                                                          CO

                                                                                                                                          NS

                                                                                                                                          UM

                                                                                                                                          ER

                                                                                                                                          GO

                                                                                                                                          OD

                                                                                                                                          S

                                                                                                                                          (un

                                                                                                                                          its

                                                                                                                                          per

                                                                                                                                          yea

                                                                                                                                          r)

                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                          A

                                                                                                                                          BO

                                                                                                                                          XF

                                                                                                                                          G

                                                                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                                                                          The Choices Nations Make

                                                                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                          bullProduce military goods or consumer goods

                                                                                                                                          Economic Growth

                                                                                                                                          2000 production possibilities

                                                                                                                                          1900 production possibilities

                                                                                                                                          OU

                                                                                                                                          TP

                                                                                                                                          UT

                                                                                                                                          OF

                                                                                                                                          CO

                                                                                                                                          NS

                                                                                                                                          UM

                                                                                                                                          ER

                                                                                                                                          GO

                                                                                                                                          OD

                                                                                                                                          S(u

                                                                                                                                          nits

                                                                                                                                          per

                                                                                                                                          yea

                                                                                                                                          r)

                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                          Production possibilities increases with more resources and technology

                                                                                                                                          The Classic Guns and Butter example

                                                                                                                                          Guns

                                                                                                                                          Butter

                                                                                                                                          10000 20000 30000 40000 50000

                                                                                                                                          1000009500085000

                                                                                                                                          70000

                                                                                                                                          5000040000

                                                                                                                                          BA

                                                                                                                                          C

                                                                                                                                          D

                                                                                                                                          E

                                                                                                                                          F

                                                                                                                                          At point A all resources are used for butter

                                                                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                          At point F all resources are used for Guns

                                                                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                                                                          choices are

                                                                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                          Locations on a PPF

                                                                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                          Food

                                                                                                                                          Computer

                                                                                                                                          4

                                                                                                                                          3

                                                                                                                                          2

                                                                                                                                          1

                                                                                                                                          1 2 3 4

                                                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                          Unit

                                                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                                                          additional computers

                                                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                          Principle of Increasing Costs

                                                                                                                                          As a society produces more of one product the OC of producing

                                                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                          Economic Systems

                                                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                                                          Jigsaw activity

                                                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                                                          bull Economic Freedom

                                                                                                                                          bull Economic Efficiency

                                                                                                                                          bull Economic Equity

                                                                                                                                          bull Economic Security

                                                                                                                                          Economic Stability

                                                                                                                                          Economic Growth

                                                                                                                                          Review of Economic Systems

                                                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                          What are the most important goals of each economic system

                                                                                                                                          bullTraditionalSecurity and

                                                                                                                                          StabilitybullCommand

                                                                                                                                          Equity and Security

                                                                                                                                          bullMARKETEfficiency and

                                                                                                                                          Freedom

                                                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                                                          Which economic system does the US use

                                                                                                                                          The American Economic System

                                                                                                                                          bullWe have a mixed market economy

                                                                                                                                          COMMAND MARKET

                                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                          Think backhellip

                                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                          2 Limited government

                                                                                                                                          3 Equal opportunity

                                                                                                                                          4 Competition

                                                                                                                                          5 Profit motive

                                                                                                                                          6 Property Rights

                                                                                                                                          7 Binding Contracts

                                                                                                                                          Understanding how all parts fit together

                                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                          Shows interdependence between

                                                                                                                                          businesses and individuals

                                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                          Do you remember

                                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                                          democracy and mixed economy

                                                                                                                                          • Foundations of Government and Economics
                                                                                                                                          • On your blank piece of paperhellip
                                                                                                                                          • Slide 3
                                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                                          • Introductory thoughts hellip
                                                                                                                                          • Slide 6
                                                                                                                                          • 2 How about to your life
                                                                                                                                          • Slide 8
                                                                                                                                          • Slide 9
                                                                                                                                          • Slide 10
                                                                                                                                          • Slide 11
                                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                                          • Economist and Politician Assumptions
                                                                                                                                          • Individualism
                                                                                                                                          • Quote activity
                                                                                                                                          • Quote breakdown
                                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                                          • Purpose of Government
                                                                                                                                          • Slide 20
                                                                                                                                          • 3 Theorists
                                                                                                                                          • Activity
                                                                                                                                          • Origins of American Government A customized government
                                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                                          • With which theory do you agree more Why
                                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                                          • Groups Block 2
                                                                                                                                          • Groups Block 4
                                                                                                                                          • Balloon Game
                                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                          • Balloon Game Debriefing
                                                                                                                                          • Political Theories
                                                                                                                                          • Social Contract
                                                                                                                                          • Natural Rights
                                                                                                                                          • Democracy
                                                                                                                                          • Concepts of Government
                                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                                          • Warm Up 7
                                                                                                                                          • And after the Constitution
                                                                                                                                          • Activity (2)
                                                                                                                                          • Picture Activity
                                                                                                                                          • Constitutional Convention
                                                                                                                                          • Purpose of the Convention
                                                                                                                                          • VA Plan v NJ Plan
                                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                          • Your Task
                                                                                                                                          • Closure
                                                                                                                                          • States agree
                                                                                                                                          • Quote
                                                                                                                                          • Structure of Constitution
                                                                                                                                          • Structure of Constitution
                                                                                                                                          • 6 Purpose of Government
                                                                                                                                          • Structure of Constitution (2)
                                                                                                                                          • Structure of Constitution (3)
                                                                                                                                          • Principles of Constitution
                                                                                                                                          • Activity
                                                                                                                                          • Slide 60
                                                                                                                                          • Check for Understanding Six Principles
                                                                                                                                          • Question 1
                                                                                                                                          • Question 2
                                                                                                                                          • Question 3
                                                                                                                                          • Question 4
                                                                                                                                          • Question 5
                                                                                                                                          • Question 6
                                                                                                                                          • Question 7
                                                                                                                                          • Question 8
                                                                                                                                          • Groups
                                                                                                                                          • Separation of Powers
                                                                                                                                          • Video
                                                                                                                                          • Checks and Balances
                                                                                                                                          • Slide 74
                                                                                                                                          • Checks and balances
                                                                                                                                          • Basic Principles
                                                                                                                                          • Self- Worth
                                                                                                                                          • Equality
                                                                                                                                          • Compromise
                                                                                                                                          • Individual Freedom
                                                                                                                                          • Write your ownhellip
                                                                                                                                          • Slide 82
                                                                                                                                          • TED Talk
                                                                                                                                          • Closure
                                                                                                                                          • What is Economics
                                                                                                                                          • Economics ishellip
                                                                                                                                          • Back to our assumptionshellip
                                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                                          • For the videohellip
                                                                                                                                          • Slide 90
                                                                                                                                          • Post Videohellip
                                                                                                                                          • Advertisement
                                                                                                                                          • Political Cartoon Analysis
                                                                                                                                          • Factors of Production
                                                                                                                                          • TASK
                                                                                                                                          • The price ofhellip
                                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                                          • 1 What to produce
                                                                                                                                          • 2 How to produce it
                                                                                                                                          • 3 For whom to produce it
                                                                                                                                          • Application Activity
                                                                                                                                          • EQs
                                                                                                                                          • Objectives amp Essential Questions
                                                                                                                                          • Group Activity Budget Activity
                                                                                                                                          • Slide 105
                                                                                                                                          • How do we satisfy our economic wants
                                                                                                                                          • How do we make goods amp services
                                                                                                                                          • Economic Interdependence
                                                                                                                                          • Slide 109
                                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                                          • Exampleshellip
                                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                                          • Opportunity Cost
                                                                                                                                          • What else influences your choices
                                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                                          • ObjectivesEssential Questions
                                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                          • Production Possibilities Frontier
                                                                                                                                          • PPF Assumptions
                                                                                                                                          • Slide 121
                                                                                                                                          • Production Possibilities Curve
                                                                                                                                          • The Choices Nations Make
                                                                                                                                          • Economic Growth
                                                                                                                                          • The Classic Guns and Butter example
                                                                                                                                          • Productivity
                                                                                                                                          • Locations on a PPF
                                                                                                                                          • Slide 128
                                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                          • Economic Systems
                                                                                                                                          • Jigsaw activity
                                                                                                                                          • Slide 132
                                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                                          • Review of Economic Systems
                                                                                                                                          • Slide 135
                                                                                                                                          • What are the most important goals of each economic system
                                                                                                                                          • Which economic system does the US use
                                                                                                                                          • The American Economic System
                                                                                                                                          • The US mixed economy
                                                                                                                                          • Slide 140
                                                                                                                                          • Think backhellip
                                                                                                                                          • US Economic System Characteristics
                                                                                                                                          • Slide 143
                                                                                                                                          • Understanding how all parts fit together
                                                                                                                                          • Marriage Vows
                                                                                                                                          • Do you remember
                                                                                                                                          • Slide 147

                                                                                                                                            Separation of Powers

                                                                                                                                            bull Legislative branchmdashmakes the laws

                                                                                                                                            bull Executive branchmdashenforces the laws

                                                                                                                                            bull Judicial branchmdashinterprets the law

                                                                                                                                            Video

                                                                                                                                            bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                                            Checks and Balances

                                                                                                                                            Checks and balances

                                                                                                                                            bullIn what was do the branches check on one another

                                                                                                                                            bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                            Basic Principles

                                                                                                                                            bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                            Self- Worth

                                                                                                                                            bull A recognition of the fundamental worth of every person

                                                                                                                                            bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                            Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                            bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                            bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                            Compromise

                                                                                                                                            bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                            bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                            bullWhy is compromise important

                                                                                                                                            Individual Freedombull Right of the

                                                                                                                                            individual to be free as far as the freedom of all will allow

                                                                                                                                            bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                            Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                            government arehellip Create your own Constitution (Or social contract)

                                                                                                                                            What do you think is important to include What do you think could be taken out

                                                                                                                                            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                            Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                            change it)

                                                                                                                                            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                            paper

                                                                                                                                            TED Talk

                                                                                                                                            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                            Closure

                                                                                                                                            bullExplain two principles of the constitution and how are they connected

                                                                                                                                            What is Economics

                                                                                                                                            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                            Important Parts of Economicsndash

                                                                                                                                            CHOICESSCARCITY

                                                                                                                                            Economics ishellip

                                                                                                                                            bullDependent upon assumptions

                                                                                                                                            bullDependent upon simplification of reality

                                                                                                                                            Back to our assumptionshellip

                                                                                                                                            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                            bullAll sellers seek to maximize profits

                                                                                                                                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                            For the videohellip

                                                                                                                                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                            Post Videohellip

                                                                                                                                            bullDefine the main idea of the video in 4-5 words

                                                                                                                                            Advertisement

                                                                                                                                            bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                            3 images that represent different economic ideas

                                                                                                                                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                            1 slogan that represents why economics is an important course to take

                                                                                                                                            Political Cartoon Analysis

                                                                                                                                            Factors of Production bull LAND

                                                                                                                                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                            soil minerals water and plants

                                                                                                                                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                            into producing goodsservices

                                                                                                                                            bull CAPITAL Includes tools machines buildings and

                                                                                                                                            technologies

                                                                                                                                            bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                            land labor and capital to produce goods and services

                                                                                                                                            TASK

                                                                                                                                            bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                            bullAnswer in 2-3 sentences

                                                                                                                                            The price ofhellip

                                                                                                                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                            Economic efficiency is achieved when all available resources are being used

                                                                                                                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                            1 What to produce

                                                                                                                                            bullShould it be military or civilian goods

                                                                                                                                            bullFood or clothingbullMedicine or movies

                                                                                                                                            2 How to produce it

                                                                                                                                            bullAutomated or manual labor

                                                                                                                                            bullExpensive or cheap materials

                                                                                                                                            bullDomestic or overseas labor

                                                                                                                                            3 For whom to produce it

                                                                                                                                            bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                            Application Activity

                                                                                                                                            bull In groups of 2-3 create your own country (name it please)

                                                                                                                                            bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                            information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                            answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                            withhellip Images representing what you produce and a

                                                                                                                                            slogan for why your country is awesome

                                                                                                                                            EQs

                                                                                                                                            bullHow does scarcity impact decision making

                                                                                                                                            Objectives amp Essential QuestionsbullObjectives

                                                                                                                                            I will be able to create and reflect on a budget given new economics content

                                                                                                                                            I will be able to understand scarcity and our mixed economy

                                                                                                                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                            Group Activity Budget Activity

                                                                                                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                            How do we satisfy our economic wants

                                                                                                                                            bull We buy goods or services

                                                                                                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                            How do we make goods amp services

                                                                                                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                            Production Equation

                                                                                                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                            inputs output

                                                                                                                                            Economic Interdependence

                                                                                                                                            bullWhat does lsquointerdependencersquo mean

                                                                                                                                            bullIs our world becoming economic interdependent or independent

                                                                                                                                            bullEconomic Interdependence the actions of one part of the

                                                                                                                                            country (world) has an impact on what happens elsewhere

                                                                                                                                            Wants amp Needs gt

                                                                                                                                            Resources

                                                                                                                                            Because of scarcity we

                                                                                                                                            have to make choices

                                                                                                                                            How do we make a choice What do we give up

                                                                                                                                            What does this remind you of from our government unit

                                                                                                                                            Making Choices to Deal With Scarcity

                                                                                                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                            decision over another

                                                                                                                                            ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                            school today or should I sleep in

                                                                                                                                            Task Reflecting on Personal Trade-offshellip

                                                                                                                                            In the end what helped you decide amongst your choices

                                                                                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                            tradeoffs for that decision

                                                                                                                                            Be prepared to share

                                                                                                                                            Opportunity Cost

                                                                                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                            we want

                                                                                                                                            What else influences your choices

                                                                                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                            FinallyhellipWhy it Matters

                                                                                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                            better decision-maker

                                                                                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                            You always have to give something uphelliprdquo

                                                                                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                            decisions

                                                                                                                                            Visualizing the Relationshiphellip

                                                                                                                                            Limited Resources amp Unlimited Wants

                                                                                                                                            Scarcity

                                                                                                                                            Trade-offs (choices)

                                                                                                                                            Opportunity Costs

                                                                                                                                            ObjectivesEssential Questions

                                                                                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                                                                                            the three different types of economies

                                                                                                                                            bullEssential Question How do the different types of economies work

                                                                                                                                            How Can We Measure What We Gain and Lose When

                                                                                                                                            Making Choices

                                                                                                                                            Answer With a Production Possibilities Frontier

                                                                                                                                            Production Possibilities Frontier

                                                                                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                            PPF Assumptions

                                                                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                            Production Possibilities Curve

                                                                                                                                            CD

                                                                                                                                            E

                                                                                                                                            OU

                                                                                                                                            TP

                                                                                                                                            UT

                                                                                                                                            OF

                                                                                                                                            CO

                                                                                                                                            NS

                                                                                                                                            UM

                                                                                                                                            ER

                                                                                                                                            GO

                                                                                                                                            OD

                                                                                                                                            S

                                                                                                                                            (un

                                                                                                                                            its

                                                                                                                                            per

                                                                                                                                            yea

                                                                                                                                            r)

                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                            A

                                                                                                                                            BO

                                                                                                                                            XF

                                                                                                                                            G

                                                                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                                                                            The Choices Nations Make

                                                                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                            bullProduce military goods or consumer goods

                                                                                                                                            Economic Growth

                                                                                                                                            2000 production possibilities

                                                                                                                                            1900 production possibilities

                                                                                                                                            OU

                                                                                                                                            TP

                                                                                                                                            UT

                                                                                                                                            OF

                                                                                                                                            CO

                                                                                                                                            NS

                                                                                                                                            UM

                                                                                                                                            ER

                                                                                                                                            GO

                                                                                                                                            OD

                                                                                                                                            S(u

                                                                                                                                            nits

                                                                                                                                            per

                                                                                                                                            yea

                                                                                                                                            r)

                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                            Production possibilities increases with more resources and technology

                                                                                                                                            The Classic Guns and Butter example

                                                                                                                                            Guns

                                                                                                                                            Butter

                                                                                                                                            10000 20000 30000 40000 50000

                                                                                                                                            1000009500085000

                                                                                                                                            70000

                                                                                                                                            5000040000

                                                                                                                                            BA

                                                                                                                                            C

                                                                                                                                            D

                                                                                                                                            E

                                                                                                                                            F

                                                                                                                                            At point A all resources are used for butter

                                                                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                            At point F all resources are used for Guns

                                                                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                                                                            choices are

                                                                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                            Locations on a PPF

                                                                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                            Food

                                                                                                                                            Computer

                                                                                                                                            4

                                                                                                                                            3

                                                                                                                                            2

                                                                                                                                            1

                                                                                                                                            1 2 3 4

                                                                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                            Unit

                                                                                                                                            Constantly giving up the same quantity of food to get

                                                                                                                                            additional computers

                                                                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                            Principle of Increasing Costs

                                                                                                                                            As a society produces more of one product the OC of producing

                                                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                            Economic Systems

                                                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                                                            Jigsaw activity

                                                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                                                            bull Economic Freedom

                                                                                                                                            bull Economic Efficiency

                                                                                                                                            bull Economic Equity

                                                                                                                                            bull Economic Security

                                                                                                                                            Economic Stability

                                                                                                                                            Economic Growth

                                                                                                                                            Review of Economic Systems

                                                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                            What are the most important goals of each economic system

                                                                                                                                            bullTraditionalSecurity and

                                                                                                                                            StabilitybullCommand

                                                                                                                                            Equity and Security

                                                                                                                                            bullMARKETEfficiency and

                                                                                                                                            Freedom

                                                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                                                            Which economic system does the US use

                                                                                                                                            The American Economic System

                                                                                                                                            bullWe have a mixed market economy

                                                                                                                                            COMMAND MARKET

                                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                            Think backhellip

                                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                            2 Limited government

                                                                                                                                            3 Equal opportunity

                                                                                                                                            4 Competition

                                                                                                                                            5 Profit motive

                                                                                                                                            6 Property Rights

                                                                                                                                            7 Binding Contracts

                                                                                                                                            Understanding how all parts fit together

                                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                            Shows interdependence between

                                                                                                                                            businesses and individuals

                                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                            Do you remember

                                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                                            democracy and mixed economy

                                                                                                                                            • Foundations of Government and Economics
                                                                                                                                            • On your blank piece of paperhellip
                                                                                                                                            • Slide 3
                                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                                            • Introductory thoughts hellip
                                                                                                                                            • Slide 6
                                                                                                                                            • 2 How about to your life
                                                                                                                                            • Slide 8
                                                                                                                                            • Slide 9
                                                                                                                                            • Slide 10
                                                                                                                                            • Slide 11
                                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                                            • Economist and Politician Assumptions
                                                                                                                                            • Individualism
                                                                                                                                            • Quote activity
                                                                                                                                            • Quote breakdown
                                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                                            • Purpose of Government
                                                                                                                                            • Slide 20
                                                                                                                                            • 3 Theorists
                                                                                                                                            • Activity
                                                                                                                                            • Origins of American Government A customized government
                                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                                            • With which theory do you agree more Why
                                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                                            • Groups Block 2
                                                                                                                                            • Groups Block 4
                                                                                                                                            • Balloon Game
                                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                            • Balloon Game Debriefing
                                                                                                                                            • Political Theories
                                                                                                                                            • Social Contract
                                                                                                                                            • Natural Rights
                                                                                                                                            • Democracy
                                                                                                                                            • Concepts of Government
                                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                                            • Warm Up 7
                                                                                                                                            • And after the Constitution
                                                                                                                                            • Activity (2)
                                                                                                                                            • Picture Activity
                                                                                                                                            • Constitutional Convention
                                                                                                                                            • Purpose of the Convention
                                                                                                                                            • VA Plan v NJ Plan
                                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                            • Your Task
                                                                                                                                            • Closure
                                                                                                                                            • States agree
                                                                                                                                            • Quote
                                                                                                                                            • Structure of Constitution
                                                                                                                                            • Structure of Constitution
                                                                                                                                            • 6 Purpose of Government
                                                                                                                                            • Structure of Constitution (2)
                                                                                                                                            • Structure of Constitution (3)
                                                                                                                                            • Principles of Constitution
                                                                                                                                            • Activity
                                                                                                                                            • Slide 60
                                                                                                                                            • Check for Understanding Six Principles
                                                                                                                                            • Question 1
                                                                                                                                            • Question 2
                                                                                                                                            • Question 3
                                                                                                                                            • Question 4
                                                                                                                                            • Question 5
                                                                                                                                            • Question 6
                                                                                                                                            • Question 7
                                                                                                                                            • Question 8
                                                                                                                                            • Groups
                                                                                                                                            • Separation of Powers
                                                                                                                                            • Video
                                                                                                                                            • Checks and Balances
                                                                                                                                            • Slide 74
                                                                                                                                            • Checks and balances
                                                                                                                                            • Basic Principles
                                                                                                                                            • Self- Worth
                                                                                                                                            • Equality
                                                                                                                                            • Compromise
                                                                                                                                            • Individual Freedom
                                                                                                                                            • Write your ownhellip
                                                                                                                                            • Slide 82
                                                                                                                                            • TED Talk
                                                                                                                                            • Closure
                                                                                                                                            • What is Economics
                                                                                                                                            • Economics ishellip
                                                                                                                                            • Back to our assumptionshellip
                                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                                            • For the videohellip
                                                                                                                                            • Slide 90
                                                                                                                                            • Post Videohellip
                                                                                                                                            • Advertisement
                                                                                                                                            • Political Cartoon Analysis
                                                                                                                                            • Factors of Production
                                                                                                                                            • TASK
                                                                                                                                            • The price ofhellip
                                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                                            • 1 What to produce
                                                                                                                                            • 2 How to produce it
                                                                                                                                            • 3 For whom to produce it
                                                                                                                                            • Application Activity
                                                                                                                                            • EQs
                                                                                                                                            • Objectives amp Essential Questions
                                                                                                                                            • Group Activity Budget Activity
                                                                                                                                            • Slide 105
                                                                                                                                            • How do we satisfy our economic wants
                                                                                                                                            • How do we make goods amp services
                                                                                                                                            • Economic Interdependence
                                                                                                                                            • Slide 109
                                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                                            • Exampleshellip
                                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                                            • Opportunity Cost
                                                                                                                                            • What else influences your choices
                                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                                            • ObjectivesEssential Questions
                                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                            • Production Possibilities Frontier
                                                                                                                                            • PPF Assumptions
                                                                                                                                            • Slide 121
                                                                                                                                            • Production Possibilities Curve
                                                                                                                                            • The Choices Nations Make
                                                                                                                                            • Economic Growth
                                                                                                                                            • The Classic Guns and Butter example
                                                                                                                                            • Productivity
                                                                                                                                            • Locations on a PPF
                                                                                                                                            • Slide 128
                                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                            • Economic Systems
                                                                                                                                            • Jigsaw activity
                                                                                                                                            • Slide 132
                                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                                            • Review of Economic Systems
                                                                                                                                            • Slide 135
                                                                                                                                            • What are the most important goals of each economic system
                                                                                                                                            • Which economic system does the US use
                                                                                                                                            • The American Economic System
                                                                                                                                            • The US mixed economy
                                                                                                                                            • Slide 140
                                                                                                                                            • Think backhellip
                                                                                                                                            • US Economic System Characteristics
                                                                                                                                            • Slide 143
                                                                                                                                            • Understanding how all parts fit together
                                                                                                                                            • Marriage Vows
                                                                                                                                            • Do you remember
                                                                                                                                            • Slide 147

                                                                                                                                              Video

                                                                                                                                              bullhttpwwwbrainpopcomsocialstudiesusgovernmentandlawbranchesofgovernment

                                                                                                                                              Checks and Balances

                                                                                                                                              Checks and balances

                                                                                                                                              bullIn what was do the branches check on one another

                                                                                                                                              bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                              Basic Principles

                                                                                                                                              bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                              Self- Worth

                                                                                                                                              bull A recognition of the fundamental worth of every person

                                                                                                                                              bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                              Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                              bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                              bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                              Compromise

                                                                                                                                              bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                              bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                              bullWhy is compromise important

                                                                                                                                              Individual Freedombull Right of the

                                                                                                                                              individual to be free as far as the freedom of all will allow

                                                                                                                                              bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                              Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                              government arehellip Create your own Constitution (Or social contract)

                                                                                                                                              What do you think is important to include What do you think could be taken out

                                                                                                                                              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                              Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                              change it)

                                                                                                                                              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                              paper

                                                                                                                                              TED Talk

                                                                                                                                              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                              Closure

                                                                                                                                              bullExplain two principles of the constitution and how are they connected

                                                                                                                                              What is Economics

                                                                                                                                              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                              Important Parts of Economicsndash

                                                                                                                                              CHOICESSCARCITY

                                                                                                                                              Economics ishellip

                                                                                                                                              bullDependent upon assumptions

                                                                                                                                              bullDependent upon simplification of reality

                                                                                                                                              Back to our assumptionshellip

                                                                                                                                              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                              bullAll sellers seek to maximize profits

                                                                                                                                              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                              For the videohellip

                                                                                                                                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                              Post Videohellip

                                                                                                                                              bullDefine the main idea of the video in 4-5 words

                                                                                                                                              Advertisement

                                                                                                                                              bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                              3 images that represent different economic ideas

                                                                                                                                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                              1 slogan that represents why economics is an important course to take

                                                                                                                                              Political Cartoon Analysis

                                                                                                                                              Factors of Production bull LAND

                                                                                                                                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                              soil minerals water and plants

                                                                                                                                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                              into producing goodsservices

                                                                                                                                              bull CAPITAL Includes tools machines buildings and

                                                                                                                                              technologies

                                                                                                                                              bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                              land labor and capital to produce goods and services

                                                                                                                                              TASK

                                                                                                                                              bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                              bullAnswer in 2-3 sentences

                                                                                                                                              The price ofhellip

                                                                                                                                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                              Economic efficiency is achieved when all available resources are being used

                                                                                                                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                              1 What to produce

                                                                                                                                              bullShould it be military or civilian goods

                                                                                                                                              bullFood or clothingbullMedicine or movies

                                                                                                                                              2 How to produce it

                                                                                                                                              bullAutomated or manual labor

                                                                                                                                              bullExpensive or cheap materials

                                                                                                                                              bullDomestic or overseas labor

                                                                                                                                              3 For whom to produce it

                                                                                                                                              bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                              Application Activity

                                                                                                                                              bull In groups of 2-3 create your own country (name it please)

                                                                                                                                              bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                              information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                              answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                              withhellip Images representing what you produce and a

                                                                                                                                              slogan for why your country is awesome

                                                                                                                                              EQs

                                                                                                                                              bullHow does scarcity impact decision making

                                                                                                                                              Objectives amp Essential QuestionsbullObjectives

                                                                                                                                              I will be able to create and reflect on a budget given new economics content

                                                                                                                                              I will be able to understand scarcity and our mixed economy

                                                                                                                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                              Group Activity Budget Activity

                                                                                                                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                              How do we satisfy our economic wants

                                                                                                                                              bull We buy goods or services

                                                                                                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                              How do we make goods amp services

                                                                                                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                              Production Equation

                                                                                                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                              inputs output

                                                                                                                                              Economic Interdependence

                                                                                                                                              bullWhat does lsquointerdependencersquo mean

                                                                                                                                              bullIs our world becoming economic interdependent or independent

                                                                                                                                              bullEconomic Interdependence the actions of one part of the

                                                                                                                                              country (world) has an impact on what happens elsewhere

                                                                                                                                              Wants amp Needs gt

                                                                                                                                              Resources

                                                                                                                                              Because of scarcity we

                                                                                                                                              have to make choices

                                                                                                                                              How do we make a choice What do we give up

                                                                                                                                              What does this remind you of from our government unit

                                                                                                                                              Making Choices to Deal With Scarcity

                                                                                                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                              decision over another

                                                                                                                                              ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                              school today or should I sleep in

                                                                                                                                              Task Reflecting on Personal Trade-offshellip

                                                                                                                                              In the end what helped you decide amongst your choices

                                                                                                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                              tradeoffs for that decision

                                                                                                                                              Be prepared to share

                                                                                                                                              Opportunity Cost

                                                                                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                              we want

                                                                                                                                              What else influences your choices

                                                                                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                              FinallyhellipWhy it Matters

                                                                                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                              better decision-maker

                                                                                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                              You always have to give something uphelliprdquo

                                                                                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                              decisions

                                                                                                                                              Visualizing the Relationshiphellip

                                                                                                                                              Limited Resources amp Unlimited Wants

                                                                                                                                              Scarcity

                                                                                                                                              Trade-offs (choices)

                                                                                                                                              Opportunity Costs

                                                                                                                                              ObjectivesEssential Questions

                                                                                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                                                                                              the three different types of economies

                                                                                                                                              bullEssential Question How do the different types of economies work

                                                                                                                                              How Can We Measure What We Gain and Lose When

                                                                                                                                              Making Choices

                                                                                                                                              Answer With a Production Possibilities Frontier

                                                                                                                                              Production Possibilities Frontier

                                                                                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                              PPF Assumptions

                                                                                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                              Production Possibilities Curve

                                                                                                                                              CD

                                                                                                                                              E

                                                                                                                                              OU

                                                                                                                                              TP

                                                                                                                                              UT

                                                                                                                                              OF

                                                                                                                                              CO

                                                                                                                                              NS

                                                                                                                                              UM

                                                                                                                                              ER

                                                                                                                                              GO

                                                                                                                                              OD

                                                                                                                                              S

                                                                                                                                              (un

                                                                                                                                              its

                                                                                                                                              per

                                                                                                                                              yea

                                                                                                                                              r)

                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                              A

                                                                                                                                              BO

                                                                                                                                              XF

                                                                                                                                              G

                                                                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                                                                              The Choices Nations Make

                                                                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                              bullProduce military goods or consumer goods

                                                                                                                                              Economic Growth

                                                                                                                                              2000 production possibilities

                                                                                                                                              1900 production possibilities

                                                                                                                                              OU

                                                                                                                                              TP

                                                                                                                                              UT

                                                                                                                                              OF

                                                                                                                                              CO

                                                                                                                                              NS

                                                                                                                                              UM

                                                                                                                                              ER

                                                                                                                                              GO

                                                                                                                                              OD

                                                                                                                                              S(u

                                                                                                                                              nits

                                                                                                                                              per

                                                                                                                                              yea

                                                                                                                                              r)

                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                              Production possibilities increases with more resources and technology

                                                                                                                                              The Classic Guns and Butter example

                                                                                                                                              Guns

                                                                                                                                              Butter

                                                                                                                                              10000 20000 30000 40000 50000

                                                                                                                                              1000009500085000

                                                                                                                                              70000

                                                                                                                                              5000040000

                                                                                                                                              BA

                                                                                                                                              C

                                                                                                                                              D

                                                                                                                                              E

                                                                                                                                              F

                                                                                                                                              At point A all resources are used for butter

                                                                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                              At point F all resources are used for Guns

                                                                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                                                                              choices are

                                                                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                              Locations on a PPF

                                                                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                              Food

                                                                                                                                              Computer

                                                                                                                                              4

                                                                                                                                              3

                                                                                                                                              2

                                                                                                                                              1

                                                                                                                                              1 2 3 4

                                                                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                              Unit

                                                                                                                                              Constantly giving up the same quantity of food to get

                                                                                                                                              additional computers

                                                                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                              Principle of Increasing Costs

                                                                                                                                              As a society produces more of one product the OC of producing

                                                                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                              Economic Systems

                                                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                                                              Jigsaw activity

                                                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                                                              bull Economic Freedom

                                                                                                                                              bull Economic Efficiency

                                                                                                                                              bull Economic Equity

                                                                                                                                              bull Economic Security

                                                                                                                                              Economic Stability

                                                                                                                                              Economic Growth

                                                                                                                                              Review of Economic Systems

                                                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                              What are the most important goals of each economic system

                                                                                                                                              bullTraditionalSecurity and

                                                                                                                                              StabilitybullCommand

                                                                                                                                              Equity and Security

                                                                                                                                              bullMARKETEfficiency and

                                                                                                                                              Freedom

                                                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                                                              Which economic system does the US use

                                                                                                                                              The American Economic System

                                                                                                                                              bullWe have a mixed market economy

                                                                                                                                              COMMAND MARKET

                                                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                              Think backhellip

                                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                              2 Limited government

                                                                                                                                              3 Equal opportunity

                                                                                                                                              4 Competition

                                                                                                                                              5 Profit motive

                                                                                                                                              6 Property Rights

                                                                                                                                              7 Binding Contracts

                                                                                                                                              Understanding how all parts fit together

                                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                              Shows interdependence between

                                                                                                                                              businesses and individuals

                                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                              Do you remember

                                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                                              democracy and mixed economy

                                                                                                                                              • Foundations of Government and Economics
                                                                                                                                              • On your blank piece of paperhellip
                                                                                                                                              • Slide 3
                                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                                              • Introductory thoughts hellip
                                                                                                                                              • Slide 6
                                                                                                                                              • 2 How about to your life
                                                                                                                                              • Slide 8
                                                                                                                                              • Slide 9
                                                                                                                                              • Slide 10
                                                                                                                                              • Slide 11
                                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                                              • Economist and Politician Assumptions
                                                                                                                                              • Individualism
                                                                                                                                              • Quote activity
                                                                                                                                              • Quote breakdown
                                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                                              • Purpose of Government
                                                                                                                                              • Slide 20
                                                                                                                                              • 3 Theorists
                                                                                                                                              • Activity
                                                                                                                                              • Origins of American Government A customized government
                                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                                              • With which theory do you agree more Why
                                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                                              • Groups Block 2
                                                                                                                                              • Groups Block 4
                                                                                                                                              • Balloon Game
                                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                              • Balloon Game Debriefing
                                                                                                                                              • Political Theories
                                                                                                                                              • Social Contract
                                                                                                                                              • Natural Rights
                                                                                                                                              • Democracy
                                                                                                                                              • Concepts of Government
                                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                                              • Warm Up 7
                                                                                                                                              • And after the Constitution
                                                                                                                                              • Activity (2)
                                                                                                                                              • Picture Activity
                                                                                                                                              • Constitutional Convention
                                                                                                                                              • Purpose of the Convention
                                                                                                                                              • VA Plan v NJ Plan
                                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                              • Your Task
                                                                                                                                              • Closure
                                                                                                                                              • States agree
                                                                                                                                              • Quote
                                                                                                                                              • Structure of Constitution
                                                                                                                                              • Structure of Constitution
                                                                                                                                              • 6 Purpose of Government
                                                                                                                                              • Structure of Constitution (2)
                                                                                                                                              • Structure of Constitution (3)
                                                                                                                                              • Principles of Constitution
                                                                                                                                              • Activity
                                                                                                                                              • Slide 60
                                                                                                                                              • Check for Understanding Six Principles
                                                                                                                                              • Question 1
                                                                                                                                              • Question 2
                                                                                                                                              • Question 3
                                                                                                                                              • Question 4
                                                                                                                                              • Question 5
                                                                                                                                              • Question 6
                                                                                                                                              • Question 7
                                                                                                                                              • Question 8
                                                                                                                                              • Groups
                                                                                                                                              • Separation of Powers
                                                                                                                                              • Video
                                                                                                                                              • Checks and Balances
                                                                                                                                              • Slide 74
                                                                                                                                              • Checks and balances
                                                                                                                                              • Basic Principles
                                                                                                                                              • Self- Worth
                                                                                                                                              • Equality
                                                                                                                                              • Compromise
                                                                                                                                              • Individual Freedom
                                                                                                                                              • Write your ownhellip
                                                                                                                                              • Slide 82
                                                                                                                                              • TED Talk
                                                                                                                                              • Closure
                                                                                                                                              • What is Economics
                                                                                                                                              • Economics ishellip
                                                                                                                                              • Back to our assumptionshellip
                                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                                              • For the videohellip
                                                                                                                                              • Slide 90
                                                                                                                                              • Post Videohellip
                                                                                                                                              • Advertisement
                                                                                                                                              • Political Cartoon Analysis
                                                                                                                                              • Factors of Production
                                                                                                                                              • TASK
                                                                                                                                              • The price ofhellip
                                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                                              • 1 What to produce
                                                                                                                                              • 2 How to produce it
                                                                                                                                              • 3 For whom to produce it
                                                                                                                                              • Application Activity
                                                                                                                                              • EQs
                                                                                                                                              • Objectives amp Essential Questions
                                                                                                                                              • Group Activity Budget Activity
                                                                                                                                              • Slide 105
                                                                                                                                              • How do we satisfy our economic wants
                                                                                                                                              • How do we make goods amp services
                                                                                                                                              • Economic Interdependence
                                                                                                                                              • Slide 109
                                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                                              • Exampleshellip
                                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                                              • Opportunity Cost
                                                                                                                                              • What else influences your choices
                                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                                              • ObjectivesEssential Questions
                                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                              • Production Possibilities Frontier
                                                                                                                                              • PPF Assumptions
                                                                                                                                              • Slide 121
                                                                                                                                              • Production Possibilities Curve
                                                                                                                                              • The Choices Nations Make
                                                                                                                                              • Economic Growth
                                                                                                                                              • The Classic Guns and Butter example
                                                                                                                                              • Productivity
                                                                                                                                              • Locations on a PPF
                                                                                                                                              • Slide 128
                                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                              • Economic Systems
                                                                                                                                              • Jigsaw activity
                                                                                                                                              • Slide 132
                                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                                              • Review of Economic Systems
                                                                                                                                              • Slide 135
                                                                                                                                              • What are the most important goals of each economic system
                                                                                                                                              • Which economic system does the US use
                                                                                                                                              • The American Economic System
                                                                                                                                              • The US mixed economy
                                                                                                                                              • Slide 140
                                                                                                                                              • Think backhellip
                                                                                                                                              • US Economic System Characteristics
                                                                                                                                              • Slide 143
                                                                                                                                              • Understanding how all parts fit together
                                                                                                                                              • Marriage Vows
                                                                                                                                              • Do you remember
                                                                                                                                              • Slide 147

                                                                                                                                                Checks and Balances

                                                                                                                                                Checks and balances

                                                                                                                                                bullIn what was do the branches check on one another

                                                                                                                                                bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                                Basic Principles

                                                                                                                                                bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                                Self- Worth

                                                                                                                                                bull A recognition of the fundamental worth of every person

                                                                                                                                                bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                                Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                                bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                                bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                                Compromise

                                                                                                                                                bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                                bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                                bullWhy is compromise important

                                                                                                                                                Individual Freedombull Right of the

                                                                                                                                                individual to be free as far as the freedom of all will allow

                                                                                                                                                bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                                Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                                government arehellip Create your own Constitution (Or social contract)

                                                                                                                                                What do you think is important to include What do you think could be taken out

                                                                                                                                                Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                                Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                                learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                                change it)

                                                                                                                                                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                                paper

                                                                                                                                                TED Talk

                                                                                                                                                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                Closure

                                                                                                                                                bullExplain two principles of the constitution and how are they connected

                                                                                                                                                What is Economics

                                                                                                                                                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                Important Parts of Economicsndash

                                                                                                                                                CHOICESSCARCITY

                                                                                                                                                Economics ishellip

                                                                                                                                                bullDependent upon assumptions

                                                                                                                                                bullDependent upon simplification of reality

                                                                                                                                                Back to our assumptionshellip

                                                                                                                                                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                bullAll sellers seek to maximize profits

                                                                                                                                                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                For the videohellip

                                                                                                                                                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                Post Videohellip

                                                                                                                                                bullDefine the main idea of the video in 4-5 words

                                                                                                                                                Advertisement

                                                                                                                                                bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                3 images that represent different economic ideas

                                                                                                                                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                1 slogan that represents why economics is an important course to take

                                                                                                                                                Political Cartoon Analysis

                                                                                                                                                Factors of Production bull LAND

                                                                                                                                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                soil minerals water and plants

                                                                                                                                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                into producing goodsservices

                                                                                                                                                bull CAPITAL Includes tools machines buildings and

                                                                                                                                                technologies

                                                                                                                                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                land labor and capital to produce goods and services

                                                                                                                                                TASK

                                                                                                                                                bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                bullAnswer in 2-3 sentences

                                                                                                                                                The price ofhellip

                                                                                                                                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                Economic efficiency is achieved when all available resources are being used

                                                                                                                                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                1 What to produce

                                                                                                                                                bullShould it be military or civilian goods

                                                                                                                                                bullFood or clothingbullMedicine or movies

                                                                                                                                                2 How to produce it

                                                                                                                                                bullAutomated or manual labor

                                                                                                                                                bullExpensive or cheap materials

                                                                                                                                                bullDomestic or overseas labor

                                                                                                                                                3 For whom to produce it

                                                                                                                                                bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                Application Activity

                                                                                                                                                bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                withhellip Images representing what you produce and a

                                                                                                                                                slogan for why your country is awesome

                                                                                                                                                EQs

                                                                                                                                                bullHow does scarcity impact decision making

                                                                                                                                                Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                I will be able to create and reflect on a budget given new economics content

                                                                                                                                                I will be able to understand scarcity and our mixed economy

                                                                                                                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                Group Activity Budget Activity

                                                                                                                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                How do we satisfy our economic wants

                                                                                                                                                bull We buy goods or services

                                                                                                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                How do we make goods amp services

                                                                                                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                Production Equation

                                                                                                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                inputs output

                                                                                                                                                Economic Interdependence

                                                                                                                                                bullWhat does lsquointerdependencersquo mean

                                                                                                                                                bullIs our world becoming economic interdependent or independent

                                                                                                                                                bullEconomic Interdependence the actions of one part of the

                                                                                                                                                country (world) has an impact on what happens elsewhere

                                                                                                                                                Wants amp Needs gt

                                                                                                                                                Resources

                                                                                                                                                Because of scarcity we

                                                                                                                                                have to make choices

                                                                                                                                                How do we make a choice What do we give up

                                                                                                                                                What does this remind you of from our government unit

                                                                                                                                                Making Choices to Deal With Scarcity

                                                                                                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                decision over another

                                                                                                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                school today or should I sleep in

                                                                                                                                                Task Reflecting on Personal Trade-offshellip

                                                                                                                                                In the end what helped you decide amongst your choices

                                                                                                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                tradeoffs for that decision

                                                                                                                                                Be prepared to share

                                                                                                                                                Opportunity Cost

                                                                                                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                we want

                                                                                                                                                What else influences your choices

                                                                                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                FinallyhellipWhy it Matters

                                                                                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                better decision-maker

                                                                                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                You always have to give something uphelliprdquo

                                                                                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                decisions

                                                                                                                                                Visualizing the Relationshiphellip

                                                                                                                                                Limited Resources amp Unlimited Wants

                                                                                                                                                Scarcity

                                                                                                                                                Trade-offs (choices)

                                                                                                                                                Opportunity Costs

                                                                                                                                                ObjectivesEssential Questions

                                                                                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                the three different types of economies

                                                                                                                                                bullEssential Question How do the different types of economies work

                                                                                                                                                How Can We Measure What We Gain and Lose When

                                                                                                                                                Making Choices

                                                                                                                                                Answer With a Production Possibilities Frontier

                                                                                                                                                Production Possibilities Frontier

                                                                                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                PPF Assumptions

                                                                                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                Production Possibilities Curve

                                                                                                                                                CD

                                                                                                                                                E

                                                                                                                                                OU

                                                                                                                                                TP

                                                                                                                                                UT

                                                                                                                                                OF

                                                                                                                                                CO

                                                                                                                                                NS

                                                                                                                                                UM

                                                                                                                                                ER

                                                                                                                                                GO

                                                                                                                                                OD

                                                                                                                                                S

                                                                                                                                                (un

                                                                                                                                                its

                                                                                                                                                per

                                                                                                                                                yea

                                                                                                                                                r)

                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                A

                                                                                                                                                BO

                                                                                                                                                XF

                                                                                                                                                G

                                                                                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                                                                                The Choices Nations Make

                                                                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                bullProduce military goods or consumer goods

                                                                                                                                                Economic Growth

                                                                                                                                                2000 production possibilities

                                                                                                                                                1900 production possibilities

                                                                                                                                                OU

                                                                                                                                                TP

                                                                                                                                                UT

                                                                                                                                                OF

                                                                                                                                                CO

                                                                                                                                                NS

                                                                                                                                                UM

                                                                                                                                                ER

                                                                                                                                                GO

                                                                                                                                                OD

                                                                                                                                                S(u

                                                                                                                                                nits

                                                                                                                                                per

                                                                                                                                                yea

                                                                                                                                                r)

                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                Production possibilities increases with more resources and technology

                                                                                                                                                The Classic Guns and Butter example

                                                                                                                                                Guns

                                                                                                                                                Butter

                                                                                                                                                10000 20000 30000 40000 50000

                                                                                                                                                1000009500085000

                                                                                                                                                70000

                                                                                                                                                5000040000

                                                                                                                                                BA

                                                                                                                                                C

                                                                                                                                                D

                                                                                                                                                E

                                                                                                                                                F

                                                                                                                                                At point A all resources are used for butter

                                                                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                At point F all resources are used for Guns

                                                                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                                                                choices are

                                                                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                Locations on a PPF

                                                                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                Food

                                                                                                                                                Computer

                                                                                                                                                4

                                                                                                                                                3

                                                                                                                                                2

                                                                                                                                                1

                                                                                                                                                1 2 3 4

                                                                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                Unit

                                                                                                                                                Constantly giving up the same quantity of food to get

                                                                                                                                                additional computers

                                                                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                Principle of Increasing Costs

                                                                                                                                                As a society produces more of one product the OC of producing

                                                                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                Economic Systems

                                                                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                                                                Jigsaw activity

                                                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                                                bull Economic Freedom

                                                                                                                                                bull Economic Efficiency

                                                                                                                                                bull Economic Equity

                                                                                                                                                bull Economic Security

                                                                                                                                                Economic Stability

                                                                                                                                                Economic Growth

                                                                                                                                                Review of Economic Systems

                                                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                What are the most important goals of each economic system

                                                                                                                                                bullTraditionalSecurity and

                                                                                                                                                StabilitybullCommand

                                                                                                                                                Equity and Security

                                                                                                                                                bullMARKETEfficiency and

                                                                                                                                                Freedom

                                                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                                                Which economic system does the US use

                                                                                                                                                The American Economic System

                                                                                                                                                bullWe have a mixed market economy

                                                                                                                                                COMMAND MARKET

                                                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                Think backhellip

                                                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                2 Limited government

                                                                                                                                                3 Equal opportunity

                                                                                                                                                4 Competition

                                                                                                                                                5 Profit motive

                                                                                                                                                6 Property Rights

                                                                                                                                                7 Binding Contracts

                                                                                                                                                Understanding how all parts fit together

                                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                Shows interdependence between

                                                                                                                                                businesses and individuals

                                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                Do you remember

                                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                democracy and mixed economy

                                                                                                                                                • Foundations of Government and Economics
                                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                                • Slide 3
                                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                                • Introductory thoughts hellip
                                                                                                                                                • Slide 6
                                                                                                                                                • 2 How about to your life
                                                                                                                                                • Slide 8
                                                                                                                                                • Slide 9
                                                                                                                                                • Slide 10
                                                                                                                                                • Slide 11
                                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                                • Individualism
                                                                                                                                                • Quote activity
                                                                                                                                                • Quote breakdown
                                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                                • Purpose of Government
                                                                                                                                                • Slide 20
                                                                                                                                                • 3 Theorists
                                                                                                                                                • Activity
                                                                                                                                                • Origins of American Government A customized government
                                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                                • With which theory do you agree more Why
                                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                                • Groups Block 2
                                                                                                                                                • Groups Block 4
                                                                                                                                                • Balloon Game
                                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                • Balloon Game Debriefing
                                                                                                                                                • Political Theories
                                                                                                                                                • Social Contract
                                                                                                                                                • Natural Rights
                                                                                                                                                • Democracy
                                                                                                                                                • Concepts of Government
                                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                                • Warm Up 7
                                                                                                                                                • And after the Constitution
                                                                                                                                                • Activity (2)
                                                                                                                                                • Picture Activity
                                                                                                                                                • Constitutional Convention
                                                                                                                                                • Purpose of the Convention
                                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                • Your Task
                                                                                                                                                • Closure
                                                                                                                                                • States agree
                                                                                                                                                • Quote
                                                                                                                                                • Structure of Constitution
                                                                                                                                                • Structure of Constitution
                                                                                                                                                • 6 Purpose of Government
                                                                                                                                                • Structure of Constitution (2)
                                                                                                                                                • Structure of Constitution (3)
                                                                                                                                                • Principles of Constitution
                                                                                                                                                • Activity
                                                                                                                                                • Slide 60
                                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                                • Question 1
                                                                                                                                                • Question 2
                                                                                                                                                • Question 3
                                                                                                                                                • Question 4
                                                                                                                                                • Question 5
                                                                                                                                                • Question 6
                                                                                                                                                • Question 7
                                                                                                                                                • Question 8
                                                                                                                                                • Groups
                                                                                                                                                • Separation of Powers
                                                                                                                                                • Video
                                                                                                                                                • Checks and Balances
                                                                                                                                                • Slide 74
                                                                                                                                                • Checks and balances
                                                                                                                                                • Basic Principles
                                                                                                                                                • Self- Worth
                                                                                                                                                • Equality
                                                                                                                                                • Compromise
                                                                                                                                                • Individual Freedom
                                                                                                                                                • Write your ownhellip
                                                                                                                                                • Slide 82
                                                                                                                                                • TED Talk
                                                                                                                                                • Closure
                                                                                                                                                • What is Economics
                                                                                                                                                • Economics ishellip
                                                                                                                                                • Back to our assumptionshellip
                                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                • For the videohellip
                                                                                                                                                • Slide 90
                                                                                                                                                • Post Videohellip
                                                                                                                                                • Advertisement
                                                                                                                                                • Political Cartoon Analysis
                                                                                                                                                • Factors of Production
                                                                                                                                                • TASK
                                                                                                                                                • The price ofhellip
                                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                                • 1 What to produce
                                                                                                                                                • 2 How to produce it
                                                                                                                                                • 3 For whom to produce it
                                                                                                                                                • Application Activity
                                                                                                                                                • EQs
                                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                                • Group Activity Budget Activity
                                                                                                                                                • Slide 105
                                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                                • How do we make goods amp services
                                                                                                                                                • Economic Interdependence
                                                                                                                                                • Slide 109
                                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                                • Exampleshellip
                                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                • Opportunity Cost
                                                                                                                                                • What else influences your choices
                                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                • Production Possibilities Frontier
                                                                                                                                                • PPF Assumptions
                                                                                                                                                • Slide 121
                                                                                                                                                • Production Possibilities Curve
                                                                                                                                                • The Choices Nations Make
                                                                                                                                                • Economic Growth
                                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                                • Productivity
                                                                                                                                                • Locations on a PPF
                                                                                                                                                • Slide 128
                                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                • Economic Systems
                                                                                                                                                • Jigsaw activity
                                                                                                                                                • Slide 132
                                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                                • Review of Economic Systems
                                                                                                                                                • Slide 135
                                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                                • Which economic system does the US use
                                                                                                                                                • The American Economic System
                                                                                                                                                • The US mixed economy
                                                                                                                                                • Slide 140
                                                                                                                                                • Think backhellip
                                                                                                                                                • US Economic System Characteristics
                                                                                                                                                • Slide 143
                                                                                                                                                • Understanding how all parts fit together
                                                                                                                                                • Marriage Vows
                                                                                                                                                • Do you remember
                                                                                                                                                • Slide 147

                                                                                                                                                  Checks and balances

                                                                                                                                                  bullIn what was do the branches check on one another

                                                                                                                                                  bullhttpwwwsheppardsoftwarecomusa_gamegovernmentchecks_and_balanceshtm

                                                                                                                                                  Basic Principles

                                                                                                                                                  bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                                  Self- Worth

                                                                                                                                                  bull A recognition of the fundamental worth of every person

                                                                                                                                                  bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                                  Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                                  bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                                  bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                                  Compromise

                                                                                                                                                  bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                                  bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                                  bullWhy is compromise important

                                                                                                                                                  Individual Freedombull Right of the

                                                                                                                                                  individual to be free as far as the freedom of all will allow

                                                                                                                                                  bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                                  Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                                  government arehellip Create your own Constitution (Or social contract)

                                                                                                                                                  What do you think is important to include What do you think could be taken out

                                                                                                                                                  Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                                  Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                                  learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                                  change it)

                                                                                                                                                  bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                                  paper

                                                                                                                                                  TED Talk

                                                                                                                                                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                  Closure

                                                                                                                                                  bullExplain two principles of the constitution and how are they connected

                                                                                                                                                  What is Economics

                                                                                                                                                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                  Important Parts of Economicsndash

                                                                                                                                                  CHOICESSCARCITY

                                                                                                                                                  Economics ishellip

                                                                                                                                                  bullDependent upon assumptions

                                                                                                                                                  bullDependent upon simplification of reality

                                                                                                                                                  Back to our assumptionshellip

                                                                                                                                                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                  bullAll sellers seek to maximize profits

                                                                                                                                                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                  For the videohellip

                                                                                                                                                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                  Post Videohellip

                                                                                                                                                  bullDefine the main idea of the video in 4-5 words

                                                                                                                                                  Advertisement

                                                                                                                                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                  3 images that represent different economic ideas

                                                                                                                                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                  1 slogan that represents why economics is an important course to take

                                                                                                                                                  Political Cartoon Analysis

                                                                                                                                                  Factors of Production bull LAND

                                                                                                                                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                  soil minerals water and plants

                                                                                                                                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                  into producing goodsservices

                                                                                                                                                  bull CAPITAL Includes tools machines buildings and

                                                                                                                                                  technologies

                                                                                                                                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                  land labor and capital to produce goods and services

                                                                                                                                                  TASK

                                                                                                                                                  bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                  bullAnswer in 2-3 sentences

                                                                                                                                                  The price ofhellip

                                                                                                                                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                  Economic efficiency is achieved when all available resources are being used

                                                                                                                                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                  1 What to produce

                                                                                                                                                  bullShould it be military or civilian goods

                                                                                                                                                  bullFood or clothingbullMedicine or movies

                                                                                                                                                  2 How to produce it

                                                                                                                                                  bullAutomated or manual labor

                                                                                                                                                  bullExpensive or cheap materials

                                                                                                                                                  bullDomestic or overseas labor

                                                                                                                                                  3 For whom to produce it

                                                                                                                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                  Application Activity

                                                                                                                                                  bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                  bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                  withhellip Images representing what you produce and a

                                                                                                                                                  slogan for why your country is awesome

                                                                                                                                                  EQs

                                                                                                                                                  bullHow does scarcity impact decision making

                                                                                                                                                  Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                  I will be able to create and reflect on a budget given new economics content

                                                                                                                                                  I will be able to understand scarcity and our mixed economy

                                                                                                                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                  Group Activity Budget Activity

                                                                                                                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                  How do we satisfy our economic wants

                                                                                                                                                  bull We buy goods or services

                                                                                                                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                  How do we make goods amp services

                                                                                                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                  Production Equation

                                                                                                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                  inputs output

                                                                                                                                                  Economic Interdependence

                                                                                                                                                  bullWhat does lsquointerdependencersquo mean

                                                                                                                                                  bullIs our world becoming economic interdependent or independent

                                                                                                                                                  bullEconomic Interdependence the actions of one part of the

                                                                                                                                                  country (world) has an impact on what happens elsewhere

                                                                                                                                                  Wants amp Needs gt

                                                                                                                                                  Resources

                                                                                                                                                  Because of scarcity we

                                                                                                                                                  have to make choices

                                                                                                                                                  How do we make a choice What do we give up

                                                                                                                                                  What does this remind you of from our government unit

                                                                                                                                                  Making Choices to Deal With Scarcity

                                                                                                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                  decision over another

                                                                                                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                  school today or should I sleep in

                                                                                                                                                  Task Reflecting on Personal Trade-offshellip

                                                                                                                                                  In the end what helped you decide amongst your choices

                                                                                                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                  tradeoffs for that decision

                                                                                                                                                  Be prepared to share

                                                                                                                                                  Opportunity Cost

                                                                                                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                  we want

                                                                                                                                                  What else influences your choices

                                                                                                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                  FinallyhellipWhy it Matters

                                                                                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                  better decision-maker

                                                                                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                  You always have to give something uphelliprdquo

                                                                                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                  decisions

                                                                                                                                                  Visualizing the Relationshiphellip

                                                                                                                                                  Limited Resources amp Unlimited Wants

                                                                                                                                                  Scarcity

                                                                                                                                                  Trade-offs (choices)

                                                                                                                                                  Opportunity Costs

                                                                                                                                                  ObjectivesEssential Questions

                                                                                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                  the three different types of economies

                                                                                                                                                  bullEssential Question How do the different types of economies work

                                                                                                                                                  How Can We Measure What We Gain and Lose When

                                                                                                                                                  Making Choices

                                                                                                                                                  Answer With a Production Possibilities Frontier

                                                                                                                                                  Production Possibilities Frontier

                                                                                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                  PPF Assumptions

                                                                                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                  Production Possibilities Curve

                                                                                                                                                  CD

                                                                                                                                                  E

                                                                                                                                                  OU

                                                                                                                                                  TP

                                                                                                                                                  UT

                                                                                                                                                  OF

                                                                                                                                                  CO

                                                                                                                                                  NS

                                                                                                                                                  UM

                                                                                                                                                  ER

                                                                                                                                                  GO

                                                                                                                                                  OD

                                                                                                                                                  S

                                                                                                                                                  (un

                                                                                                                                                  its

                                                                                                                                                  per

                                                                                                                                                  yea

                                                                                                                                                  r)

                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                  A

                                                                                                                                                  BO

                                                                                                                                                  XF

                                                                                                                                                  G

                                                                                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                                                                                  The Choices Nations Make

                                                                                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                  bullProduce military goods or consumer goods

                                                                                                                                                  Economic Growth

                                                                                                                                                  2000 production possibilities

                                                                                                                                                  1900 production possibilities

                                                                                                                                                  OU

                                                                                                                                                  TP

                                                                                                                                                  UT

                                                                                                                                                  OF

                                                                                                                                                  CO

                                                                                                                                                  NS

                                                                                                                                                  UM

                                                                                                                                                  ER

                                                                                                                                                  GO

                                                                                                                                                  OD

                                                                                                                                                  S(u

                                                                                                                                                  nits

                                                                                                                                                  per

                                                                                                                                                  yea

                                                                                                                                                  r)

                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                  Production possibilities increases with more resources and technology

                                                                                                                                                  The Classic Guns and Butter example

                                                                                                                                                  Guns

                                                                                                                                                  Butter

                                                                                                                                                  10000 20000 30000 40000 50000

                                                                                                                                                  1000009500085000

                                                                                                                                                  70000

                                                                                                                                                  5000040000

                                                                                                                                                  BA

                                                                                                                                                  C

                                                                                                                                                  D

                                                                                                                                                  E

                                                                                                                                                  F

                                                                                                                                                  At point A all resources are used for butter

                                                                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                  At point F all resources are used for Guns

                                                                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                                                                  choices are

                                                                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                  Locations on a PPF

                                                                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                  Food

                                                                                                                                                  Computer

                                                                                                                                                  4

                                                                                                                                                  3

                                                                                                                                                  2

                                                                                                                                                  1

                                                                                                                                                  1 2 3 4

                                                                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                  Unit

                                                                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                                                                  additional computers

                                                                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                  Principle of Increasing Costs

                                                                                                                                                  As a society produces more of one product the OC of producing

                                                                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                  Economic Systems

                                                                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                                                                  Jigsaw activity

                                                                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                                                  bull Economic Freedom

                                                                                                                                                  bull Economic Efficiency

                                                                                                                                                  bull Economic Equity

                                                                                                                                                  bull Economic Security

                                                                                                                                                  Economic Stability

                                                                                                                                                  Economic Growth

                                                                                                                                                  Review of Economic Systems

                                                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                  What are the most important goals of each economic system

                                                                                                                                                  bullTraditionalSecurity and

                                                                                                                                                  StabilitybullCommand

                                                                                                                                                  Equity and Security

                                                                                                                                                  bullMARKETEfficiency and

                                                                                                                                                  Freedom

                                                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                                                  Which economic system does the US use

                                                                                                                                                  The American Economic System

                                                                                                                                                  bullWe have a mixed market economy

                                                                                                                                                  COMMAND MARKET

                                                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                  Think backhellip

                                                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                  2 Limited government

                                                                                                                                                  3 Equal opportunity

                                                                                                                                                  4 Competition

                                                                                                                                                  5 Profit motive

                                                                                                                                                  6 Property Rights

                                                                                                                                                  7 Binding Contracts

                                                                                                                                                  Understanding how all parts fit together

                                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                  Shows interdependence between

                                                                                                                                                  businesses and individuals

                                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                  Do you remember

                                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                  democracy and mixed economy

                                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                                  • Slide 3
                                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                                  • Slide 6
                                                                                                                                                  • 2 How about to your life
                                                                                                                                                  • Slide 8
                                                                                                                                                  • Slide 9
                                                                                                                                                  • Slide 10
                                                                                                                                                  • Slide 11
                                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                                  • Individualism
                                                                                                                                                  • Quote activity
                                                                                                                                                  • Quote breakdown
                                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                                  • Purpose of Government
                                                                                                                                                  • Slide 20
                                                                                                                                                  • 3 Theorists
                                                                                                                                                  • Activity
                                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                                  • Groups Block 2
                                                                                                                                                  • Groups Block 4
                                                                                                                                                  • Balloon Game
                                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                                  • Political Theories
                                                                                                                                                  • Social Contract
                                                                                                                                                  • Natural Rights
                                                                                                                                                  • Democracy
                                                                                                                                                  • Concepts of Government
                                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                                  • Warm Up 7
                                                                                                                                                  • And after the Constitution
                                                                                                                                                  • Activity (2)
                                                                                                                                                  • Picture Activity
                                                                                                                                                  • Constitutional Convention
                                                                                                                                                  • Purpose of the Convention
                                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                  • Your Task
                                                                                                                                                  • Closure
                                                                                                                                                  • States agree
                                                                                                                                                  • Quote
                                                                                                                                                  • Structure of Constitution
                                                                                                                                                  • Structure of Constitution
                                                                                                                                                  • 6 Purpose of Government
                                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                                  • Principles of Constitution
                                                                                                                                                  • Activity
                                                                                                                                                  • Slide 60
                                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                                  • Question 1
                                                                                                                                                  • Question 2
                                                                                                                                                  • Question 3
                                                                                                                                                  • Question 4
                                                                                                                                                  • Question 5
                                                                                                                                                  • Question 6
                                                                                                                                                  • Question 7
                                                                                                                                                  • Question 8
                                                                                                                                                  • Groups
                                                                                                                                                  • Separation of Powers
                                                                                                                                                  • Video
                                                                                                                                                  • Checks and Balances
                                                                                                                                                  • Slide 74
                                                                                                                                                  • Checks and balances
                                                                                                                                                  • Basic Principles
                                                                                                                                                  • Self- Worth
                                                                                                                                                  • Equality
                                                                                                                                                  • Compromise
                                                                                                                                                  • Individual Freedom
                                                                                                                                                  • Write your ownhellip
                                                                                                                                                  • Slide 82
                                                                                                                                                  • TED Talk
                                                                                                                                                  • Closure
                                                                                                                                                  • What is Economics
                                                                                                                                                  • Economics ishellip
                                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                  • For the videohellip
                                                                                                                                                  • Slide 90
                                                                                                                                                  • Post Videohellip
                                                                                                                                                  • Advertisement
                                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                                  • Factors of Production
                                                                                                                                                  • TASK
                                                                                                                                                  • The price ofhellip
                                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                                  • 1 What to produce
                                                                                                                                                  • 2 How to produce it
                                                                                                                                                  • 3 For whom to produce it
                                                                                                                                                  • Application Activity
                                                                                                                                                  • EQs
                                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                                  • Slide 105
                                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                                  • How do we make goods amp services
                                                                                                                                                  • Economic Interdependence
                                                                                                                                                  • Slide 109
                                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                                  • Exampleshellip
                                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                  • Opportunity Cost
                                                                                                                                                  • What else influences your choices
                                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                                  • PPF Assumptions
                                                                                                                                                  • Slide 121
                                                                                                                                                  • Production Possibilities Curve
                                                                                                                                                  • The Choices Nations Make
                                                                                                                                                  • Economic Growth
                                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                                  • Productivity
                                                                                                                                                  • Locations on a PPF
                                                                                                                                                  • Slide 128
                                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                  • Economic Systems
                                                                                                                                                  • Jigsaw activity
                                                                                                                                                  • Slide 132
                                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                                  • Review of Economic Systems
                                                                                                                                                  • Slide 135
                                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                                  • Which economic system does the US use
                                                                                                                                                  • The American Economic System
                                                                                                                                                  • The US mixed economy
                                                                                                                                                  • Slide 140
                                                                                                                                                  • Think backhellip
                                                                                                                                                  • US Economic System Characteristics
                                                                                                                                                  • Slide 143
                                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                                  • Marriage Vows
                                                                                                                                                  • Do you remember
                                                                                                                                                  • Slide 147

                                                                                                                                                    Basic Principles

                                                                                                                                                    bullThe tenets of democracy are built upon five principlesmdashWorth of the individualEquality of all personsMajority rule minority rightsNecessity of compromiseIndividual freedom

                                                                                                                                                    Self- Worth

                                                                                                                                                    bull A recognition of the fundamental worth of every person

                                                                                                                                                    bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                                    Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                                    bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                                    bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                                    Compromise

                                                                                                                                                    bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                                    bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                                    bullWhy is compromise important

                                                                                                                                                    Individual Freedombull Right of the

                                                                                                                                                    individual to be free as far as the freedom of all will allow

                                                                                                                                                    bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                                    Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                                    government arehellip Create your own Constitution (Or social contract)

                                                                                                                                                    What do you think is important to include What do you think could be taken out

                                                                                                                                                    Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                                    Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                                    learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                                    change it)

                                                                                                                                                    bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                                    paper

                                                                                                                                                    TED Talk

                                                                                                                                                    bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                    Closure

                                                                                                                                                    bullExplain two principles of the constitution and how are they connected

                                                                                                                                                    What is Economics

                                                                                                                                                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                    Important Parts of Economicsndash

                                                                                                                                                    CHOICESSCARCITY

                                                                                                                                                    Economics ishellip

                                                                                                                                                    bullDependent upon assumptions

                                                                                                                                                    bullDependent upon simplification of reality

                                                                                                                                                    Back to our assumptionshellip

                                                                                                                                                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                    bullAll sellers seek to maximize profits

                                                                                                                                                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                    For the videohellip

                                                                                                                                                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                    Post Videohellip

                                                                                                                                                    bullDefine the main idea of the video in 4-5 words

                                                                                                                                                    Advertisement

                                                                                                                                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                    3 images that represent different economic ideas

                                                                                                                                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                    1 slogan that represents why economics is an important course to take

                                                                                                                                                    Political Cartoon Analysis

                                                                                                                                                    Factors of Production bull LAND

                                                                                                                                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                    soil minerals water and plants

                                                                                                                                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                    into producing goodsservices

                                                                                                                                                    bull CAPITAL Includes tools machines buildings and

                                                                                                                                                    technologies

                                                                                                                                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                    land labor and capital to produce goods and services

                                                                                                                                                    TASK

                                                                                                                                                    bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                    bullAnswer in 2-3 sentences

                                                                                                                                                    The price ofhellip

                                                                                                                                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                    Economic efficiency is achieved when all available resources are being used

                                                                                                                                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                    1 What to produce

                                                                                                                                                    bullShould it be military or civilian goods

                                                                                                                                                    bullFood or clothingbullMedicine or movies

                                                                                                                                                    2 How to produce it

                                                                                                                                                    bullAutomated or manual labor

                                                                                                                                                    bullExpensive or cheap materials

                                                                                                                                                    bullDomestic or overseas labor

                                                                                                                                                    3 For whom to produce it

                                                                                                                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                    Application Activity

                                                                                                                                                    bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                    bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                    withhellip Images representing what you produce and a

                                                                                                                                                    slogan for why your country is awesome

                                                                                                                                                    EQs

                                                                                                                                                    bullHow does scarcity impact decision making

                                                                                                                                                    Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                    I will be able to create and reflect on a budget given new economics content

                                                                                                                                                    I will be able to understand scarcity and our mixed economy

                                                                                                                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                    Group Activity Budget Activity

                                                                                                                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                    How do we satisfy our economic wants

                                                                                                                                                    bull We buy goods or services

                                                                                                                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                    How do we make goods amp services

                                                                                                                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                    Production Equation

                                                                                                                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                    inputs output

                                                                                                                                                    Economic Interdependence

                                                                                                                                                    bullWhat does lsquointerdependencersquo mean

                                                                                                                                                    bullIs our world becoming economic interdependent or independent

                                                                                                                                                    bullEconomic Interdependence the actions of one part of the

                                                                                                                                                    country (world) has an impact on what happens elsewhere

                                                                                                                                                    Wants amp Needs gt

                                                                                                                                                    Resources

                                                                                                                                                    Because of scarcity we

                                                                                                                                                    have to make choices

                                                                                                                                                    How do we make a choice What do we give up

                                                                                                                                                    What does this remind you of from our government unit

                                                                                                                                                    Making Choices to Deal With Scarcity

                                                                                                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                    decision over another

                                                                                                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                    school today or should I sleep in

                                                                                                                                                    Task Reflecting on Personal Trade-offshellip

                                                                                                                                                    In the end what helped you decide amongst your choices

                                                                                                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                    tradeoffs for that decision

                                                                                                                                                    Be prepared to share

                                                                                                                                                    Opportunity Cost

                                                                                                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                    we want

                                                                                                                                                    What else influences your choices

                                                                                                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                    FinallyhellipWhy it Matters

                                                                                                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                    better decision-maker

                                                                                                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                    You always have to give something uphelliprdquo

                                                                                                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                    decisions

                                                                                                                                                    Visualizing the Relationshiphellip

                                                                                                                                                    Limited Resources amp Unlimited Wants

                                                                                                                                                    Scarcity

                                                                                                                                                    Trade-offs (choices)

                                                                                                                                                    Opportunity Costs

                                                                                                                                                    ObjectivesEssential Questions

                                                                                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                    the three different types of economies

                                                                                                                                                    bullEssential Question How do the different types of economies work

                                                                                                                                                    How Can We Measure What We Gain and Lose When

                                                                                                                                                    Making Choices

                                                                                                                                                    Answer With a Production Possibilities Frontier

                                                                                                                                                    Production Possibilities Frontier

                                                                                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                    PPF Assumptions

                                                                                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                    Production Possibilities Curve

                                                                                                                                                    CD

                                                                                                                                                    E

                                                                                                                                                    OU

                                                                                                                                                    TP

                                                                                                                                                    UT

                                                                                                                                                    OF

                                                                                                                                                    CO

                                                                                                                                                    NS

                                                                                                                                                    UM

                                                                                                                                                    ER

                                                                                                                                                    GO

                                                                                                                                                    OD

                                                                                                                                                    S

                                                                                                                                                    (un

                                                                                                                                                    its

                                                                                                                                                    per

                                                                                                                                                    yea

                                                                                                                                                    r)

                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                    A

                                                                                                                                                    BO

                                                                                                                                                    XF

                                                                                                                                                    G

                                                                                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                                                                                    The Choices Nations Make

                                                                                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                    bullProduce military goods or consumer goods

                                                                                                                                                    Economic Growth

                                                                                                                                                    2000 production possibilities

                                                                                                                                                    1900 production possibilities

                                                                                                                                                    OU

                                                                                                                                                    TP

                                                                                                                                                    UT

                                                                                                                                                    OF

                                                                                                                                                    CO

                                                                                                                                                    NS

                                                                                                                                                    UM

                                                                                                                                                    ER

                                                                                                                                                    GO

                                                                                                                                                    OD

                                                                                                                                                    S(u

                                                                                                                                                    nits

                                                                                                                                                    per

                                                                                                                                                    yea

                                                                                                                                                    r)

                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                    Production possibilities increases with more resources and technology

                                                                                                                                                    The Classic Guns and Butter example

                                                                                                                                                    Guns

                                                                                                                                                    Butter

                                                                                                                                                    10000 20000 30000 40000 50000

                                                                                                                                                    1000009500085000

                                                                                                                                                    70000

                                                                                                                                                    5000040000

                                                                                                                                                    BA

                                                                                                                                                    C

                                                                                                                                                    D

                                                                                                                                                    E

                                                                                                                                                    F

                                                                                                                                                    At point A all resources are used for butter

                                                                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                    At point F all resources are used for Guns

                                                                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                                                                    choices are

                                                                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                    Locations on a PPF

                                                                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                    Food

                                                                                                                                                    Computer

                                                                                                                                                    4

                                                                                                                                                    3

                                                                                                                                                    2

                                                                                                                                                    1

                                                                                                                                                    1 2 3 4

                                                                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                    Unit

                                                                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                                                                    additional computers

                                                                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                    Principle of Increasing Costs

                                                                                                                                                    As a society produces more of one product the OC of producing

                                                                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                    Economic Systems

                                                                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                                                                    Jigsaw activity

                                                                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                                                                    bull Economic Freedom

                                                                                                                                                    bull Economic Efficiency

                                                                                                                                                    bull Economic Equity

                                                                                                                                                    bull Economic Security

                                                                                                                                                    Economic Stability

                                                                                                                                                    Economic Growth

                                                                                                                                                    Review of Economic Systems

                                                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                    What are the most important goals of each economic system

                                                                                                                                                    bullTraditionalSecurity and

                                                                                                                                                    StabilitybullCommand

                                                                                                                                                    Equity and Security

                                                                                                                                                    bullMARKETEfficiency and

                                                                                                                                                    Freedom

                                                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                                                    Which economic system does the US use

                                                                                                                                                    The American Economic System

                                                                                                                                                    bullWe have a mixed market economy

                                                                                                                                                    COMMAND MARKET

                                                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                    Think backhellip

                                                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                    2 Limited government

                                                                                                                                                    3 Equal opportunity

                                                                                                                                                    4 Competition

                                                                                                                                                    5 Profit motive

                                                                                                                                                    6 Property Rights

                                                                                                                                                    7 Binding Contracts

                                                                                                                                                    Understanding how all parts fit together

                                                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                    Shows interdependence between

                                                                                                                                                    businesses and individuals

                                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                    Do you remember

                                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                    democracy and mixed economy

                                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                                    • Slide 3
                                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                                    • Slide 6
                                                                                                                                                    • 2 How about to your life
                                                                                                                                                    • Slide 8
                                                                                                                                                    • Slide 9
                                                                                                                                                    • Slide 10
                                                                                                                                                    • Slide 11
                                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                                    • Individualism
                                                                                                                                                    • Quote activity
                                                                                                                                                    • Quote breakdown
                                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                                    • Purpose of Government
                                                                                                                                                    • Slide 20
                                                                                                                                                    • 3 Theorists
                                                                                                                                                    • Activity
                                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                                    • Groups Block 2
                                                                                                                                                    • Groups Block 4
                                                                                                                                                    • Balloon Game
                                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                                    • Political Theories
                                                                                                                                                    • Social Contract
                                                                                                                                                    • Natural Rights
                                                                                                                                                    • Democracy
                                                                                                                                                    • Concepts of Government
                                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                                    • Warm Up 7
                                                                                                                                                    • And after the Constitution
                                                                                                                                                    • Activity (2)
                                                                                                                                                    • Picture Activity
                                                                                                                                                    • Constitutional Convention
                                                                                                                                                    • Purpose of the Convention
                                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                    • Your Task
                                                                                                                                                    • Closure
                                                                                                                                                    • States agree
                                                                                                                                                    • Quote
                                                                                                                                                    • Structure of Constitution
                                                                                                                                                    • Structure of Constitution
                                                                                                                                                    • 6 Purpose of Government
                                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                                    • Principles of Constitution
                                                                                                                                                    • Activity
                                                                                                                                                    • Slide 60
                                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                                    • Question 1
                                                                                                                                                    • Question 2
                                                                                                                                                    • Question 3
                                                                                                                                                    • Question 4
                                                                                                                                                    • Question 5
                                                                                                                                                    • Question 6
                                                                                                                                                    • Question 7
                                                                                                                                                    • Question 8
                                                                                                                                                    • Groups
                                                                                                                                                    • Separation of Powers
                                                                                                                                                    • Video
                                                                                                                                                    • Checks and Balances
                                                                                                                                                    • Slide 74
                                                                                                                                                    • Checks and balances
                                                                                                                                                    • Basic Principles
                                                                                                                                                    • Self- Worth
                                                                                                                                                    • Equality
                                                                                                                                                    • Compromise
                                                                                                                                                    • Individual Freedom
                                                                                                                                                    • Write your ownhellip
                                                                                                                                                    • Slide 82
                                                                                                                                                    • TED Talk
                                                                                                                                                    • Closure
                                                                                                                                                    • What is Economics
                                                                                                                                                    • Economics ishellip
                                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                    • For the videohellip
                                                                                                                                                    • Slide 90
                                                                                                                                                    • Post Videohellip
                                                                                                                                                    • Advertisement
                                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                                    • Factors of Production
                                                                                                                                                    • TASK
                                                                                                                                                    • The price ofhellip
                                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                                    • 1 What to produce
                                                                                                                                                    • 2 How to produce it
                                                                                                                                                    • 3 For whom to produce it
                                                                                                                                                    • Application Activity
                                                                                                                                                    • EQs
                                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                                    • Slide 105
                                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                                    • How do we make goods amp services
                                                                                                                                                    • Economic Interdependence
                                                                                                                                                    • Slide 109
                                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                                    • Exampleshellip
                                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                    • Opportunity Cost
                                                                                                                                                    • What else influences your choices
                                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                                    • PPF Assumptions
                                                                                                                                                    • Slide 121
                                                                                                                                                    • Production Possibilities Curve
                                                                                                                                                    • The Choices Nations Make
                                                                                                                                                    • Economic Growth
                                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                                    • Productivity
                                                                                                                                                    • Locations on a PPF
                                                                                                                                                    • Slide 128
                                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                    • Economic Systems
                                                                                                                                                    • Jigsaw activity
                                                                                                                                                    • Slide 132
                                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                                    • Review of Economic Systems
                                                                                                                                                    • Slide 135
                                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                                    • Which economic system does the US use
                                                                                                                                                    • The American Economic System
                                                                                                                                                    • The US mixed economy
                                                                                                                                                    • Slide 140
                                                                                                                                                    • Think backhellip
                                                                                                                                                    • US Economic System Characteristics
                                                                                                                                                    • Slide 143
                                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                                    • Marriage Vows
                                                                                                                                                    • Do you remember
                                                                                                                                                    • Slide 147

                                                                                                                                                      Self- Worth

                                                                                                                                                      bull A recognition of the fundamental worth of every person

                                                                                                                                                      bull The democratic process reflects the collective set of individuals who make up society

                                                                                                                                                      Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                                      bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                                      bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                                      Compromise

                                                                                                                                                      bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                                      bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                                      bullWhy is compromise important

                                                                                                                                                      Individual Freedombull Right of the

                                                                                                                                                      individual to be free as far as the freedom of all will allow

                                                                                                                                                      bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                                      Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                                      government arehellip Create your own Constitution (Or social contract)

                                                                                                                                                      What do you think is important to include What do you think could be taken out

                                                                                                                                                      Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                                      Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                                      learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                                      change it)

                                                                                                                                                      bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                                      paper

                                                                                                                                                      TED Talk

                                                                                                                                                      bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                      Closure

                                                                                                                                                      bullExplain two principles of the constitution and how are they connected

                                                                                                                                                      What is Economics

                                                                                                                                                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                      Important Parts of Economicsndash

                                                                                                                                                      CHOICESSCARCITY

                                                                                                                                                      Economics ishellip

                                                                                                                                                      bullDependent upon assumptions

                                                                                                                                                      bullDependent upon simplification of reality

                                                                                                                                                      Back to our assumptionshellip

                                                                                                                                                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                      bullAll sellers seek to maximize profits

                                                                                                                                                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                      For the videohellip

                                                                                                                                                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                      Post Videohellip

                                                                                                                                                      bullDefine the main idea of the video in 4-5 words

                                                                                                                                                      Advertisement

                                                                                                                                                      bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                      3 images that represent different economic ideas

                                                                                                                                                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                      1 slogan that represents why economics is an important course to take

                                                                                                                                                      Political Cartoon Analysis

                                                                                                                                                      Factors of Production bull LAND

                                                                                                                                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                      soil minerals water and plants

                                                                                                                                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                      into producing goodsservices

                                                                                                                                                      bull CAPITAL Includes tools machines buildings and

                                                                                                                                                      technologies

                                                                                                                                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                      land labor and capital to produce goods and services

                                                                                                                                                      TASK

                                                                                                                                                      bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                      bullAnswer in 2-3 sentences

                                                                                                                                                      The price ofhellip

                                                                                                                                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                      Economic efficiency is achieved when all available resources are being used

                                                                                                                                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                      1 What to produce

                                                                                                                                                      bullShould it be military or civilian goods

                                                                                                                                                      bullFood or clothingbullMedicine or movies

                                                                                                                                                      2 How to produce it

                                                                                                                                                      bullAutomated or manual labor

                                                                                                                                                      bullExpensive or cheap materials

                                                                                                                                                      bullDomestic or overseas labor

                                                                                                                                                      3 For whom to produce it

                                                                                                                                                      bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                      Application Activity

                                                                                                                                                      bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                      bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                      withhellip Images representing what you produce and a

                                                                                                                                                      slogan for why your country is awesome

                                                                                                                                                      EQs

                                                                                                                                                      bullHow does scarcity impact decision making

                                                                                                                                                      Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                      I will be able to create and reflect on a budget given new economics content

                                                                                                                                                      I will be able to understand scarcity and our mixed economy

                                                                                                                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                      Group Activity Budget Activity

                                                                                                                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                      How do we satisfy our economic wants

                                                                                                                                                      bull We buy goods or services

                                                                                                                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                      How do we make goods amp services

                                                                                                                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                      Production Equation

                                                                                                                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                      inputs output

                                                                                                                                                      Economic Interdependence

                                                                                                                                                      bullWhat does lsquointerdependencersquo mean

                                                                                                                                                      bullIs our world becoming economic interdependent or independent

                                                                                                                                                      bullEconomic Interdependence the actions of one part of the

                                                                                                                                                      country (world) has an impact on what happens elsewhere

                                                                                                                                                      Wants amp Needs gt

                                                                                                                                                      Resources

                                                                                                                                                      Because of scarcity we

                                                                                                                                                      have to make choices

                                                                                                                                                      How do we make a choice What do we give up

                                                                                                                                                      What does this remind you of from our government unit

                                                                                                                                                      Making Choices to Deal With Scarcity

                                                                                                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                      decision over another

                                                                                                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                      school today or should I sleep in

                                                                                                                                                      Task Reflecting on Personal Trade-offshellip

                                                                                                                                                      In the end what helped you decide amongst your choices

                                                                                                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                      tradeoffs for that decision

                                                                                                                                                      Be prepared to share

                                                                                                                                                      Opportunity Cost

                                                                                                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                      we want

                                                                                                                                                      What else influences your choices

                                                                                                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                      FinallyhellipWhy it Matters

                                                                                                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                      better decision-maker

                                                                                                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                      You always have to give something uphelliprdquo

                                                                                                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                      decisions

                                                                                                                                                      Visualizing the Relationshiphellip

                                                                                                                                                      Limited Resources amp Unlimited Wants

                                                                                                                                                      Scarcity

                                                                                                                                                      Trade-offs (choices)

                                                                                                                                                      Opportunity Costs

                                                                                                                                                      ObjectivesEssential Questions

                                                                                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                      the three different types of economies

                                                                                                                                                      bullEssential Question How do the different types of economies work

                                                                                                                                                      How Can We Measure What We Gain and Lose When

                                                                                                                                                      Making Choices

                                                                                                                                                      Answer With a Production Possibilities Frontier

                                                                                                                                                      Production Possibilities Frontier

                                                                                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                      PPF Assumptions

                                                                                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                      Production Possibilities Curve

                                                                                                                                                      CD

                                                                                                                                                      E

                                                                                                                                                      OU

                                                                                                                                                      TP

                                                                                                                                                      UT

                                                                                                                                                      OF

                                                                                                                                                      CO

                                                                                                                                                      NS

                                                                                                                                                      UM

                                                                                                                                                      ER

                                                                                                                                                      GO

                                                                                                                                                      OD

                                                                                                                                                      S

                                                                                                                                                      (un

                                                                                                                                                      its

                                                                                                                                                      per

                                                                                                                                                      yea

                                                                                                                                                      r)

                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                      A

                                                                                                                                                      BO

                                                                                                                                                      XF

                                                                                                                                                      G

                                                                                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                                                                                      The Choices Nations Make

                                                                                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                      bullProduce military goods or consumer goods

                                                                                                                                                      Economic Growth

                                                                                                                                                      2000 production possibilities

                                                                                                                                                      1900 production possibilities

                                                                                                                                                      OU

                                                                                                                                                      TP

                                                                                                                                                      UT

                                                                                                                                                      OF

                                                                                                                                                      CO

                                                                                                                                                      NS

                                                                                                                                                      UM

                                                                                                                                                      ER

                                                                                                                                                      GO

                                                                                                                                                      OD

                                                                                                                                                      S(u

                                                                                                                                                      nits

                                                                                                                                                      per

                                                                                                                                                      yea

                                                                                                                                                      r)

                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                      Production possibilities increases with more resources and technology

                                                                                                                                                      The Classic Guns and Butter example

                                                                                                                                                      Guns

                                                                                                                                                      Butter

                                                                                                                                                      10000 20000 30000 40000 50000

                                                                                                                                                      1000009500085000

                                                                                                                                                      70000

                                                                                                                                                      5000040000

                                                                                                                                                      BA

                                                                                                                                                      C

                                                                                                                                                      D

                                                                                                                                                      E

                                                                                                                                                      F

                                                                                                                                                      At point A all resources are used for butter

                                                                                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                      At point F all resources are used for Guns

                                                                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                                                                      choices are

                                                                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                      Locations on a PPF

                                                                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                      Food

                                                                                                                                                      Computer

                                                                                                                                                      4

                                                                                                                                                      3

                                                                                                                                                      2

                                                                                                                                                      1

                                                                                                                                                      1 2 3 4

                                                                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                      Unit

                                                                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                                                                      additional computers

                                                                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                      Principle of Increasing Costs

                                                                                                                                                      As a society produces more of one product the OC of producing

                                                                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                      Economic Systems

                                                                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                                                                      Jigsaw activity

                                                                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                                                                      bull Economic Freedom

                                                                                                                                                      bull Economic Efficiency

                                                                                                                                                      bull Economic Equity

                                                                                                                                                      bull Economic Security

                                                                                                                                                      Economic Stability

                                                                                                                                                      Economic Growth

                                                                                                                                                      Review of Economic Systems

                                                                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                      What are the most important goals of each economic system

                                                                                                                                                      bullTraditionalSecurity and

                                                                                                                                                      StabilitybullCommand

                                                                                                                                                      Equity and Security

                                                                                                                                                      bullMARKETEfficiency and

                                                                                                                                                      Freedom

                                                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                                                      Which economic system does the US use

                                                                                                                                                      The American Economic System

                                                                                                                                                      bullWe have a mixed market economy

                                                                                                                                                      COMMAND MARKET

                                                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                      Think backhellip

                                                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                      2 Limited government

                                                                                                                                                      3 Equal opportunity

                                                                                                                                                      4 Competition

                                                                                                                                                      5 Profit motive

                                                                                                                                                      6 Property Rights

                                                                                                                                                      7 Binding Contracts

                                                                                                                                                      Understanding how all parts fit together

                                                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                      Shows interdependence between

                                                                                                                                                      businesses and individuals

                                                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                      Do you remember

                                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                      democracy and mixed economy

                                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                                      • Slide 3
                                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                                      • Slide 6
                                                                                                                                                      • 2 How about to your life
                                                                                                                                                      • Slide 8
                                                                                                                                                      • Slide 9
                                                                                                                                                      • Slide 10
                                                                                                                                                      • Slide 11
                                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                                      • Individualism
                                                                                                                                                      • Quote activity
                                                                                                                                                      • Quote breakdown
                                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                                      • Purpose of Government
                                                                                                                                                      • Slide 20
                                                                                                                                                      • 3 Theorists
                                                                                                                                                      • Activity
                                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                                      • Groups Block 2
                                                                                                                                                      • Groups Block 4
                                                                                                                                                      • Balloon Game
                                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                                      • Political Theories
                                                                                                                                                      • Social Contract
                                                                                                                                                      • Natural Rights
                                                                                                                                                      • Democracy
                                                                                                                                                      • Concepts of Government
                                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                                      • Warm Up 7
                                                                                                                                                      • And after the Constitution
                                                                                                                                                      • Activity (2)
                                                                                                                                                      • Picture Activity
                                                                                                                                                      • Constitutional Convention
                                                                                                                                                      • Purpose of the Convention
                                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                      • Your Task
                                                                                                                                                      • Closure
                                                                                                                                                      • States agree
                                                                                                                                                      • Quote
                                                                                                                                                      • Structure of Constitution
                                                                                                                                                      • Structure of Constitution
                                                                                                                                                      • 6 Purpose of Government
                                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                                      • Principles of Constitution
                                                                                                                                                      • Activity
                                                                                                                                                      • Slide 60
                                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                                      • Question 1
                                                                                                                                                      • Question 2
                                                                                                                                                      • Question 3
                                                                                                                                                      • Question 4
                                                                                                                                                      • Question 5
                                                                                                                                                      • Question 6
                                                                                                                                                      • Question 7
                                                                                                                                                      • Question 8
                                                                                                                                                      • Groups
                                                                                                                                                      • Separation of Powers
                                                                                                                                                      • Video
                                                                                                                                                      • Checks and Balances
                                                                                                                                                      • Slide 74
                                                                                                                                                      • Checks and balances
                                                                                                                                                      • Basic Principles
                                                                                                                                                      • Self- Worth
                                                                                                                                                      • Equality
                                                                                                                                                      • Compromise
                                                                                                                                                      • Individual Freedom
                                                                                                                                                      • Write your ownhellip
                                                                                                                                                      • Slide 82
                                                                                                                                                      • TED Talk
                                                                                                                                                      • Closure
                                                                                                                                                      • What is Economics
                                                                                                                                                      • Economics ishellip
                                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                      • For the videohellip
                                                                                                                                                      • Slide 90
                                                                                                                                                      • Post Videohellip
                                                                                                                                                      • Advertisement
                                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                                      • Factors of Production
                                                                                                                                                      • TASK
                                                                                                                                                      • The price ofhellip
                                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                                      • 1 What to produce
                                                                                                                                                      • 2 How to produce it
                                                                                                                                                      • 3 For whom to produce it
                                                                                                                                                      • Application Activity
                                                                                                                                                      • EQs
                                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                                      • Slide 105
                                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                                      • How do we make goods amp services
                                                                                                                                                      • Economic Interdependence
                                                                                                                                                      • Slide 109
                                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                                      • Exampleshellip
                                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                      • Opportunity Cost
                                                                                                                                                      • What else influences your choices
                                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                                      • PPF Assumptions
                                                                                                                                                      • Slide 121
                                                                                                                                                      • Production Possibilities Curve
                                                                                                                                                      • The Choices Nations Make
                                                                                                                                                      • Economic Growth
                                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                                      • Productivity
                                                                                                                                                      • Locations on a PPF
                                                                                                                                                      • Slide 128
                                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                      • Economic Systems
                                                                                                                                                      • Jigsaw activity
                                                                                                                                                      • Slide 132
                                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                                      • Review of Economic Systems
                                                                                                                                                      • Slide 135
                                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                                      • Which economic system does the US use
                                                                                                                                                      • The American Economic System
                                                                                                                                                      • The US mixed economy
                                                                                                                                                      • Slide 140
                                                                                                                                                      • Think backhellip
                                                                                                                                                      • US Economic System Characteristics
                                                                                                                                                      • Slide 143
                                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                                      • Marriage Vows
                                                                                                                                                      • Do you remember
                                                                                                                                                      • Slide 147

                                                                                                                                                        Equality Democratic concept insists that all entitled tobull equality of opportunity bull equality before the law

                                                                                                                                                        bull Equality of opportunity suggests that no person should be held back for any arbitrary reason and must be free to develop him- or herself as fully as heshe can (or cares to)

                                                                                                                                                        bull Equality before the law suggests that each person should be treated as the equal of all other persons before the law

                                                                                                                                                        Compromise

                                                                                                                                                        bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                                        bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                                        bullWhy is compromise important

                                                                                                                                                        Individual Freedombull Right of the

                                                                                                                                                        individual to be free as far as the freedom of all will allow

                                                                                                                                                        bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                                        Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                                        government arehellip Create your own Constitution (Or social contract)

                                                                                                                                                        What do you think is important to include What do you think could be taken out

                                                                                                                                                        Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                                        Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                                        learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                                        change it)

                                                                                                                                                        bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                                        paper

                                                                                                                                                        TED Talk

                                                                                                                                                        bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                        Closure

                                                                                                                                                        bullExplain two principles of the constitution and how are they connected

                                                                                                                                                        What is Economics

                                                                                                                                                        bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                        Important Parts of Economicsndash

                                                                                                                                                        CHOICESSCARCITY

                                                                                                                                                        Economics ishellip

                                                                                                                                                        bullDependent upon assumptions

                                                                                                                                                        bullDependent upon simplification of reality

                                                                                                                                                        Back to our assumptionshellip

                                                                                                                                                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                        bullAll sellers seek to maximize profits

                                                                                                                                                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                        For the videohellip

                                                                                                                                                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                        Post Videohellip

                                                                                                                                                        bullDefine the main idea of the video in 4-5 words

                                                                                                                                                        Advertisement

                                                                                                                                                        bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                        3 images that represent different economic ideas

                                                                                                                                                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                        1 slogan that represents why economics is an important course to take

                                                                                                                                                        Political Cartoon Analysis

                                                                                                                                                        Factors of Production bull LAND

                                                                                                                                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                        soil minerals water and plants

                                                                                                                                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                        into producing goodsservices

                                                                                                                                                        bull CAPITAL Includes tools machines buildings and

                                                                                                                                                        technologies

                                                                                                                                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                        land labor and capital to produce goods and services

                                                                                                                                                        TASK

                                                                                                                                                        bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                        bullAnswer in 2-3 sentences

                                                                                                                                                        The price ofhellip

                                                                                                                                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                        Economic efficiency is achieved when all available resources are being used

                                                                                                                                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                        1 What to produce

                                                                                                                                                        bullShould it be military or civilian goods

                                                                                                                                                        bullFood or clothingbullMedicine or movies

                                                                                                                                                        2 How to produce it

                                                                                                                                                        bullAutomated or manual labor

                                                                                                                                                        bullExpensive or cheap materials

                                                                                                                                                        bullDomestic or overseas labor

                                                                                                                                                        3 For whom to produce it

                                                                                                                                                        bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                        Application Activity

                                                                                                                                                        bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                        bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                        information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                        answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                        withhellip Images representing what you produce and a

                                                                                                                                                        slogan for why your country is awesome

                                                                                                                                                        EQs

                                                                                                                                                        bullHow does scarcity impact decision making

                                                                                                                                                        Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                        I will be able to create and reflect on a budget given new economics content

                                                                                                                                                        I will be able to understand scarcity and our mixed economy

                                                                                                                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                        Group Activity Budget Activity

                                                                                                                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                        How do we satisfy our economic wants

                                                                                                                                                        bull We buy goods or services

                                                                                                                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                        How do we make goods amp services

                                                                                                                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                        Production Equation

                                                                                                                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                        inputs output

                                                                                                                                                        Economic Interdependence

                                                                                                                                                        bullWhat does lsquointerdependencersquo mean

                                                                                                                                                        bullIs our world becoming economic interdependent or independent

                                                                                                                                                        bullEconomic Interdependence the actions of one part of the

                                                                                                                                                        country (world) has an impact on what happens elsewhere

                                                                                                                                                        Wants amp Needs gt

                                                                                                                                                        Resources

                                                                                                                                                        Because of scarcity we

                                                                                                                                                        have to make choices

                                                                                                                                                        How do we make a choice What do we give up

                                                                                                                                                        What does this remind you of from our government unit

                                                                                                                                                        Making Choices to Deal With Scarcity

                                                                                                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                        decision over another

                                                                                                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                        school today or should I sleep in

                                                                                                                                                        Task Reflecting on Personal Trade-offshellip

                                                                                                                                                        In the end what helped you decide amongst your choices

                                                                                                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                        tradeoffs for that decision

                                                                                                                                                        Be prepared to share

                                                                                                                                                        Opportunity Cost

                                                                                                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                        we want

                                                                                                                                                        What else influences your choices

                                                                                                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                        FinallyhellipWhy it Matters

                                                                                                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                        better decision-maker

                                                                                                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                        You always have to give something uphelliprdquo

                                                                                                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                        decisions

                                                                                                                                                        Visualizing the Relationshiphellip

                                                                                                                                                        Limited Resources amp Unlimited Wants

                                                                                                                                                        Scarcity

                                                                                                                                                        Trade-offs (choices)

                                                                                                                                                        Opportunity Costs

                                                                                                                                                        ObjectivesEssential Questions

                                                                                                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                        the three different types of economies

                                                                                                                                                        bullEssential Question How do the different types of economies work

                                                                                                                                                        How Can We Measure What We Gain and Lose When

                                                                                                                                                        Making Choices

                                                                                                                                                        Answer With a Production Possibilities Frontier

                                                                                                                                                        Production Possibilities Frontier

                                                                                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                        PPF Assumptions

                                                                                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                        Production Possibilities Curve

                                                                                                                                                        CD

                                                                                                                                                        E

                                                                                                                                                        OU

                                                                                                                                                        TP

                                                                                                                                                        UT

                                                                                                                                                        OF

                                                                                                                                                        CO

                                                                                                                                                        NS

                                                                                                                                                        UM

                                                                                                                                                        ER

                                                                                                                                                        GO

                                                                                                                                                        OD

                                                                                                                                                        S

                                                                                                                                                        (un

                                                                                                                                                        its

                                                                                                                                                        per

                                                                                                                                                        yea

                                                                                                                                                        r)

                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                        A

                                                                                                                                                        BO

                                                                                                                                                        XF

                                                                                                                                                        G

                                                                                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                                                                                        The Choices Nations Make

                                                                                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                        bullProduce military goods or consumer goods

                                                                                                                                                        Economic Growth

                                                                                                                                                        2000 production possibilities

                                                                                                                                                        1900 production possibilities

                                                                                                                                                        OU

                                                                                                                                                        TP

                                                                                                                                                        UT

                                                                                                                                                        OF

                                                                                                                                                        CO

                                                                                                                                                        NS

                                                                                                                                                        UM

                                                                                                                                                        ER

                                                                                                                                                        GO

                                                                                                                                                        OD

                                                                                                                                                        S(u

                                                                                                                                                        nits

                                                                                                                                                        per

                                                                                                                                                        yea

                                                                                                                                                        r)

                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                        Production possibilities increases with more resources and technology

                                                                                                                                                        The Classic Guns and Butter example

                                                                                                                                                        Guns

                                                                                                                                                        Butter

                                                                                                                                                        10000 20000 30000 40000 50000

                                                                                                                                                        1000009500085000

                                                                                                                                                        70000

                                                                                                                                                        5000040000

                                                                                                                                                        BA

                                                                                                                                                        C

                                                                                                                                                        D

                                                                                                                                                        E

                                                                                                                                                        F

                                                                                                                                                        At point A all resources are used for butter

                                                                                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                        At point F all resources are used for Guns

                                                                                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                                                                                        choices are

                                                                                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                        Locations on a PPF

                                                                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                        Food

                                                                                                                                                        Computer

                                                                                                                                                        4

                                                                                                                                                        3

                                                                                                                                                        2

                                                                                                                                                        1

                                                                                                                                                        1 2 3 4

                                                                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                        Unit

                                                                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                                                                        additional computers

                                                                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                        Principle of Increasing Costs

                                                                                                                                                        As a society produces more of one product the OC of producing

                                                                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                        Economic Systems

                                                                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                                                                        Jigsaw activity

                                                                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                                                                        bull Economic Freedom

                                                                                                                                                        bull Economic Efficiency

                                                                                                                                                        bull Economic Equity

                                                                                                                                                        bull Economic Security

                                                                                                                                                        Economic Stability

                                                                                                                                                        Economic Growth

                                                                                                                                                        Review of Economic Systems

                                                                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                        What are the most important goals of each economic system

                                                                                                                                                        bullTraditionalSecurity and

                                                                                                                                                        StabilitybullCommand

                                                                                                                                                        Equity and Security

                                                                                                                                                        bullMARKETEfficiency and

                                                                                                                                                        Freedom

                                                                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                                                                        Which economic system does the US use

                                                                                                                                                        The American Economic System

                                                                                                                                                        bullWe have a mixed market economy

                                                                                                                                                        COMMAND MARKET

                                                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                        Think backhellip

                                                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                        2 Limited government

                                                                                                                                                        3 Equal opportunity

                                                                                                                                                        4 Competition

                                                                                                                                                        5 Profit motive

                                                                                                                                                        6 Property Rights

                                                                                                                                                        7 Binding Contracts

                                                                                                                                                        Understanding how all parts fit together

                                                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                        Shows interdependence between

                                                                                                                                                        businesses and individuals

                                                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                        Do you remember

                                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                        democracy and mixed economy

                                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                                        • Slide 3
                                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                                        • Slide 6
                                                                                                                                                        • 2 How about to your life
                                                                                                                                                        • Slide 8
                                                                                                                                                        • Slide 9
                                                                                                                                                        • Slide 10
                                                                                                                                                        • Slide 11
                                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                                        • Individualism
                                                                                                                                                        • Quote activity
                                                                                                                                                        • Quote breakdown
                                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                                        • Purpose of Government
                                                                                                                                                        • Slide 20
                                                                                                                                                        • 3 Theorists
                                                                                                                                                        • Activity
                                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                                        • Groups Block 2
                                                                                                                                                        • Groups Block 4
                                                                                                                                                        • Balloon Game
                                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                                        • Political Theories
                                                                                                                                                        • Social Contract
                                                                                                                                                        • Natural Rights
                                                                                                                                                        • Democracy
                                                                                                                                                        • Concepts of Government
                                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                                        • Warm Up 7
                                                                                                                                                        • And after the Constitution
                                                                                                                                                        • Activity (2)
                                                                                                                                                        • Picture Activity
                                                                                                                                                        • Constitutional Convention
                                                                                                                                                        • Purpose of the Convention
                                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                        • Your Task
                                                                                                                                                        • Closure
                                                                                                                                                        • States agree
                                                                                                                                                        • Quote
                                                                                                                                                        • Structure of Constitution
                                                                                                                                                        • Structure of Constitution
                                                                                                                                                        • 6 Purpose of Government
                                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                                        • Principles of Constitution
                                                                                                                                                        • Activity
                                                                                                                                                        • Slide 60
                                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                                        • Question 1
                                                                                                                                                        • Question 2
                                                                                                                                                        • Question 3
                                                                                                                                                        • Question 4
                                                                                                                                                        • Question 5
                                                                                                                                                        • Question 6
                                                                                                                                                        • Question 7
                                                                                                                                                        • Question 8
                                                                                                                                                        • Groups
                                                                                                                                                        • Separation of Powers
                                                                                                                                                        • Video
                                                                                                                                                        • Checks and Balances
                                                                                                                                                        • Slide 74
                                                                                                                                                        • Checks and balances
                                                                                                                                                        • Basic Principles
                                                                                                                                                        • Self- Worth
                                                                                                                                                        • Equality
                                                                                                                                                        • Compromise
                                                                                                                                                        • Individual Freedom
                                                                                                                                                        • Write your ownhellip
                                                                                                                                                        • Slide 82
                                                                                                                                                        • TED Talk
                                                                                                                                                        • Closure
                                                                                                                                                        • What is Economics
                                                                                                                                                        • Economics ishellip
                                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                        • For the videohellip
                                                                                                                                                        • Slide 90
                                                                                                                                                        • Post Videohellip
                                                                                                                                                        • Advertisement
                                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                                        • Factors of Production
                                                                                                                                                        • TASK
                                                                                                                                                        • The price ofhellip
                                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                                        • 1 What to produce
                                                                                                                                                        • 2 How to produce it
                                                                                                                                                        • 3 For whom to produce it
                                                                                                                                                        • Application Activity
                                                                                                                                                        • EQs
                                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                                        • Slide 105
                                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                                        • How do we make goods amp services
                                                                                                                                                        • Economic Interdependence
                                                                                                                                                        • Slide 109
                                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                                        • Exampleshellip
                                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                        • Opportunity Cost
                                                                                                                                                        • What else influences your choices
                                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                                        • PPF Assumptions
                                                                                                                                                        • Slide 121
                                                                                                                                                        • Production Possibilities Curve
                                                                                                                                                        • The Choices Nations Make
                                                                                                                                                        • Economic Growth
                                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                                        • Productivity
                                                                                                                                                        • Locations on a PPF
                                                                                                                                                        • Slide 128
                                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                        • Economic Systems
                                                                                                                                                        • Jigsaw activity
                                                                                                                                                        • Slide 132
                                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                                        • Review of Economic Systems
                                                                                                                                                        • Slide 135
                                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                                        • Which economic system does the US use
                                                                                                                                                        • The American Economic System
                                                                                                                                                        • The US mixed economy
                                                                                                                                                        • Slide 140
                                                                                                                                                        • Think backhellip
                                                                                                                                                        • US Economic System Characteristics
                                                                                                                                                        • Slide 143
                                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                                        • Marriage Vows
                                                                                                                                                        • Do you remember
                                                                                                                                                        • Slide 147

                                                                                                                                                          Compromise

                                                                                                                                                          bull A matter of compromise to determine the position most acceptable to the largest number of people

                                                                                                                                                          bull Because each individual is important and considered the equal of all others it stands to reason that people can only make public decisions by way of compromise

                                                                                                                                                          bullWhy is compromise important

                                                                                                                                                          Individual Freedombull Right of the

                                                                                                                                                          individual to be free as far as the freedom of all will allow

                                                                                                                                                          bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                                          Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                                          government arehellip Create your own Constitution (Or social contract)

                                                                                                                                                          What do you think is important to include What do you think could be taken out

                                                                                                                                                          Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                                          Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                                          learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                                          change it)

                                                                                                                                                          bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                                          paper

                                                                                                                                                          TED Talk

                                                                                                                                                          bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                          Closure

                                                                                                                                                          bullExplain two principles of the constitution and how are they connected

                                                                                                                                                          What is Economics

                                                                                                                                                          bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                          Important Parts of Economicsndash

                                                                                                                                                          CHOICESSCARCITY

                                                                                                                                                          Economics ishellip

                                                                                                                                                          bullDependent upon assumptions

                                                                                                                                                          bullDependent upon simplification of reality

                                                                                                                                                          Back to our assumptionshellip

                                                                                                                                                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                          bullAll sellers seek to maximize profits

                                                                                                                                                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                          For the videohellip

                                                                                                                                                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                          Post Videohellip

                                                                                                                                                          bullDefine the main idea of the video in 4-5 words

                                                                                                                                                          Advertisement

                                                                                                                                                          bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                          3 images that represent different economic ideas

                                                                                                                                                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                          1 slogan that represents why economics is an important course to take

                                                                                                                                                          Political Cartoon Analysis

                                                                                                                                                          Factors of Production bull LAND

                                                                                                                                                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                          soil minerals water and plants

                                                                                                                                                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                          into producing goodsservices

                                                                                                                                                          bull CAPITAL Includes tools machines buildings and

                                                                                                                                                          technologies

                                                                                                                                                          bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                          land labor and capital to produce goods and services

                                                                                                                                                          TASK

                                                                                                                                                          bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                          bullAnswer in 2-3 sentences

                                                                                                                                                          The price ofhellip

                                                                                                                                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                          Economic efficiency is achieved when all available resources are being used

                                                                                                                                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                          1 What to produce

                                                                                                                                                          bullShould it be military or civilian goods

                                                                                                                                                          bullFood or clothingbullMedicine or movies

                                                                                                                                                          2 How to produce it

                                                                                                                                                          bullAutomated or manual labor

                                                                                                                                                          bullExpensive or cheap materials

                                                                                                                                                          bullDomestic or overseas labor

                                                                                                                                                          3 For whom to produce it

                                                                                                                                                          bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                          Application Activity

                                                                                                                                                          bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                          bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                          information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                          answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                          withhellip Images representing what you produce and a

                                                                                                                                                          slogan for why your country is awesome

                                                                                                                                                          EQs

                                                                                                                                                          bullHow does scarcity impact decision making

                                                                                                                                                          Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                          I will be able to create and reflect on a budget given new economics content

                                                                                                                                                          I will be able to understand scarcity and our mixed economy

                                                                                                                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                          Group Activity Budget Activity

                                                                                                                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                          How do we satisfy our economic wants

                                                                                                                                                          bull We buy goods or services

                                                                                                                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                          How do we make goods amp services

                                                                                                                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                          Production Equation

                                                                                                                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                          inputs output

                                                                                                                                                          Economic Interdependence

                                                                                                                                                          bullWhat does lsquointerdependencersquo mean

                                                                                                                                                          bullIs our world becoming economic interdependent or independent

                                                                                                                                                          bullEconomic Interdependence the actions of one part of the

                                                                                                                                                          country (world) has an impact on what happens elsewhere

                                                                                                                                                          Wants amp Needs gt

                                                                                                                                                          Resources

                                                                                                                                                          Because of scarcity we

                                                                                                                                                          have to make choices

                                                                                                                                                          How do we make a choice What do we give up

                                                                                                                                                          What does this remind you of from our government unit

                                                                                                                                                          Making Choices to Deal With Scarcity

                                                                                                                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                          decision over another

                                                                                                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                          school today or should I sleep in

                                                                                                                                                          Task Reflecting on Personal Trade-offshellip

                                                                                                                                                          In the end what helped you decide amongst your choices

                                                                                                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                          tradeoffs for that decision

                                                                                                                                                          Be prepared to share

                                                                                                                                                          Opportunity Cost

                                                                                                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                          we want

                                                                                                                                                          What else influences your choices

                                                                                                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                          FinallyhellipWhy it Matters

                                                                                                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                          better decision-maker

                                                                                                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                          You always have to give something uphelliprdquo

                                                                                                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                          decisions

                                                                                                                                                          Visualizing the Relationshiphellip

                                                                                                                                                          Limited Resources amp Unlimited Wants

                                                                                                                                                          Scarcity

                                                                                                                                                          Trade-offs (choices)

                                                                                                                                                          Opportunity Costs

                                                                                                                                                          ObjectivesEssential Questions

                                                                                                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                          the three different types of economies

                                                                                                                                                          bullEssential Question How do the different types of economies work

                                                                                                                                                          How Can We Measure What We Gain and Lose When

                                                                                                                                                          Making Choices

                                                                                                                                                          Answer With a Production Possibilities Frontier

                                                                                                                                                          Production Possibilities Frontier

                                                                                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                          PPF Assumptions

                                                                                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                          Production Possibilities Curve

                                                                                                                                                          CD

                                                                                                                                                          E

                                                                                                                                                          OU

                                                                                                                                                          TP

                                                                                                                                                          UT

                                                                                                                                                          OF

                                                                                                                                                          CO

                                                                                                                                                          NS

                                                                                                                                                          UM

                                                                                                                                                          ER

                                                                                                                                                          GO

                                                                                                                                                          OD

                                                                                                                                                          S

                                                                                                                                                          (un

                                                                                                                                                          its

                                                                                                                                                          per

                                                                                                                                                          yea

                                                                                                                                                          r)

                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                          A

                                                                                                                                                          BO

                                                                                                                                                          XF

                                                                                                                                                          G

                                                                                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                                                                                          The Choices Nations Make

                                                                                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                          bullProduce military goods or consumer goods

                                                                                                                                                          Economic Growth

                                                                                                                                                          2000 production possibilities

                                                                                                                                                          1900 production possibilities

                                                                                                                                                          OU

                                                                                                                                                          TP

                                                                                                                                                          UT

                                                                                                                                                          OF

                                                                                                                                                          CO

                                                                                                                                                          NS

                                                                                                                                                          UM

                                                                                                                                                          ER

                                                                                                                                                          GO

                                                                                                                                                          OD

                                                                                                                                                          S(u

                                                                                                                                                          nits

                                                                                                                                                          per

                                                                                                                                                          yea

                                                                                                                                                          r)

                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                          Production possibilities increases with more resources and technology

                                                                                                                                                          The Classic Guns and Butter example

                                                                                                                                                          Guns

                                                                                                                                                          Butter

                                                                                                                                                          10000 20000 30000 40000 50000

                                                                                                                                                          1000009500085000

                                                                                                                                                          70000

                                                                                                                                                          5000040000

                                                                                                                                                          BA

                                                                                                                                                          C

                                                                                                                                                          D

                                                                                                                                                          E

                                                                                                                                                          F

                                                                                                                                                          At point A all resources are used for butter

                                                                                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                          At point F all resources are used for Guns

                                                                                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                                                                                          choices are

                                                                                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                          Locations on a PPF

                                                                                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                          Food

                                                                                                                                                          Computer

                                                                                                                                                          4

                                                                                                                                                          3

                                                                                                                                                          2

                                                                                                                                                          1

                                                                                                                                                          1 2 3 4

                                                                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                          Unit

                                                                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                                                                          additional computers

                                                                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                          Principle of Increasing Costs

                                                                                                                                                          As a society produces more of one product the OC of producing

                                                                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                          Economic Systems

                                                                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                                                                          Jigsaw activity

                                                                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                                                                          bull Economic Freedom

                                                                                                                                                          bull Economic Efficiency

                                                                                                                                                          bull Economic Equity

                                                                                                                                                          bull Economic Security

                                                                                                                                                          Economic Stability

                                                                                                                                                          Economic Growth

                                                                                                                                                          Review of Economic Systems

                                                                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                          What are the most important goals of each economic system

                                                                                                                                                          bullTraditionalSecurity and

                                                                                                                                                          StabilitybullCommand

                                                                                                                                                          Equity and Security

                                                                                                                                                          bullMARKETEfficiency and

                                                                                                                                                          Freedom

                                                                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                                                                          Which economic system does the US use

                                                                                                                                                          The American Economic System

                                                                                                                                                          bullWe have a mixed market economy

                                                                                                                                                          COMMAND MARKET

                                                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                          Think backhellip

                                                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                          2 Limited government

                                                                                                                                                          3 Equal opportunity

                                                                                                                                                          4 Competition

                                                                                                                                                          5 Profit motive

                                                                                                                                                          6 Property Rights

                                                                                                                                                          7 Binding Contracts

                                                                                                                                                          Understanding how all parts fit together

                                                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                          Shows interdependence between

                                                                                                                                                          businesses and individuals

                                                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                          Do you remember

                                                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                          democracy and mixed economy

                                                                                                                                                          • Foundations of Government and Economics
                                                                                                                                                          • On your blank piece of paperhellip
                                                                                                                                                          • Slide 3
                                                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                                                          • Introductory thoughts hellip
                                                                                                                                                          • Slide 6
                                                                                                                                                          • 2 How about to your life
                                                                                                                                                          • Slide 8
                                                                                                                                                          • Slide 9
                                                                                                                                                          • Slide 10
                                                                                                                                                          • Slide 11
                                                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                                                          • Economist and Politician Assumptions
                                                                                                                                                          • Individualism
                                                                                                                                                          • Quote activity
                                                                                                                                                          • Quote breakdown
                                                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                                                          • Purpose of Government
                                                                                                                                                          • Slide 20
                                                                                                                                                          • 3 Theorists
                                                                                                                                                          • Activity
                                                                                                                                                          • Origins of American Government A customized government
                                                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                                                          • With which theory do you agree more Why
                                                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                                                          • Groups Block 2
                                                                                                                                                          • Groups Block 4
                                                                                                                                                          • Balloon Game
                                                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                          • Balloon Game Debriefing
                                                                                                                                                          • Political Theories
                                                                                                                                                          • Social Contract
                                                                                                                                                          • Natural Rights
                                                                                                                                                          • Democracy
                                                                                                                                                          • Concepts of Government
                                                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                                                          • Warm Up 7
                                                                                                                                                          • And after the Constitution
                                                                                                                                                          • Activity (2)
                                                                                                                                                          • Picture Activity
                                                                                                                                                          • Constitutional Convention
                                                                                                                                                          • Purpose of the Convention
                                                                                                                                                          • VA Plan v NJ Plan
                                                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                          • Your Task
                                                                                                                                                          • Closure
                                                                                                                                                          • States agree
                                                                                                                                                          • Quote
                                                                                                                                                          • Structure of Constitution
                                                                                                                                                          • Structure of Constitution
                                                                                                                                                          • 6 Purpose of Government
                                                                                                                                                          • Structure of Constitution (2)
                                                                                                                                                          • Structure of Constitution (3)
                                                                                                                                                          • Principles of Constitution
                                                                                                                                                          • Activity
                                                                                                                                                          • Slide 60
                                                                                                                                                          • Check for Understanding Six Principles
                                                                                                                                                          • Question 1
                                                                                                                                                          • Question 2
                                                                                                                                                          • Question 3
                                                                                                                                                          • Question 4
                                                                                                                                                          • Question 5
                                                                                                                                                          • Question 6
                                                                                                                                                          • Question 7
                                                                                                                                                          • Question 8
                                                                                                                                                          • Groups
                                                                                                                                                          • Separation of Powers
                                                                                                                                                          • Video
                                                                                                                                                          • Checks and Balances
                                                                                                                                                          • Slide 74
                                                                                                                                                          • Checks and balances
                                                                                                                                                          • Basic Principles
                                                                                                                                                          • Self- Worth
                                                                                                                                                          • Equality
                                                                                                                                                          • Compromise
                                                                                                                                                          • Individual Freedom
                                                                                                                                                          • Write your ownhellip
                                                                                                                                                          • Slide 82
                                                                                                                                                          • TED Talk
                                                                                                                                                          • Closure
                                                                                                                                                          • What is Economics
                                                                                                                                                          • Economics ishellip
                                                                                                                                                          • Back to our assumptionshellip
                                                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                          • For the videohellip
                                                                                                                                                          • Slide 90
                                                                                                                                                          • Post Videohellip
                                                                                                                                                          • Advertisement
                                                                                                                                                          • Political Cartoon Analysis
                                                                                                                                                          • Factors of Production
                                                                                                                                                          • TASK
                                                                                                                                                          • The price ofhellip
                                                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                                                          • 1 What to produce
                                                                                                                                                          • 2 How to produce it
                                                                                                                                                          • 3 For whom to produce it
                                                                                                                                                          • Application Activity
                                                                                                                                                          • EQs
                                                                                                                                                          • Objectives amp Essential Questions
                                                                                                                                                          • Group Activity Budget Activity
                                                                                                                                                          • Slide 105
                                                                                                                                                          • How do we satisfy our economic wants
                                                                                                                                                          • How do we make goods amp services
                                                                                                                                                          • Economic Interdependence
                                                                                                                                                          • Slide 109
                                                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                                                          • Exampleshellip
                                                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                          • Opportunity Cost
                                                                                                                                                          • What else influences your choices
                                                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                                                          • ObjectivesEssential Questions
                                                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                          • Production Possibilities Frontier
                                                                                                                                                          • PPF Assumptions
                                                                                                                                                          • Slide 121
                                                                                                                                                          • Production Possibilities Curve
                                                                                                                                                          • The Choices Nations Make
                                                                                                                                                          • Economic Growth
                                                                                                                                                          • The Classic Guns and Butter example
                                                                                                                                                          • Productivity
                                                                                                                                                          • Locations on a PPF
                                                                                                                                                          • Slide 128
                                                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                          • Economic Systems
                                                                                                                                                          • Jigsaw activity
                                                                                                                                                          • Slide 132
                                                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                                                          • Review of Economic Systems
                                                                                                                                                          • Slide 135
                                                                                                                                                          • What are the most important goals of each economic system
                                                                                                                                                          • Which economic system does the US use
                                                                                                                                                          • The American Economic System
                                                                                                                                                          • The US mixed economy
                                                                                                                                                          • Slide 140
                                                                                                                                                          • Think backhellip
                                                                                                                                                          • US Economic System Characteristics
                                                                                                                                                          • Slide 143
                                                                                                                                                          • Understanding how all parts fit together
                                                                                                                                                          • Marriage Vows
                                                                                                                                                          • Do you remember
                                                                                                                                                          • Slide 147

                                                                                                                                                            Individual Freedombull Right of the

                                                                                                                                                            individual to be free as far as the freedom of all will allow

                                                                                                                                                            bull Democracy does not and cannot insist on the absolute freedom of the individual person

                                                                                                                                                            Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                                            government arehellip Create your own Constitution (Or social contract)

                                                                                                                                                            What do you think is important to include What do you think could be taken out

                                                                                                                                                            Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                                            Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                                            learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                                            change it)

                                                                                                                                                            bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                                            paper

                                                                                                                                                            TED Talk

                                                                                                                                                            bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                            Closure

                                                                                                                                                            bullExplain two principles of the constitution and how are they connected

                                                                                                                                                            What is Economics

                                                                                                                                                            bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                            Important Parts of Economicsndash

                                                                                                                                                            CHOICESSCARCITY

                                                                                                                                                            Economics ishellip

                                                                                                                                                            bullDependent upon assumptions

                                                                                                                                                            bullDependent upon simplification of reality

                                                                                                                                                            Back to our assumptionshellip

                                                                                                                                                            bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                            bullAll sellers seek to maximize profits

                                                                                                                                                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                            For the videohellip

                                                                                                                                                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                            Post Videohellip

                                                                                                                                                            bullDefine the main idea of the video in 4-5 words

                                                                                                                                                            Advertisement

                                                                                                                                                            bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                            3 images that represent different economic ideas

                                                                                                                                                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                            1 slogan that represents why economics is an important course to take

                                                                                                                                                            Political Cartoon Analysis

                                                                                                                                                            Factors of Production bull LAND

                                                                                                                                                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                            soil minerals water and plants

                                                                                                                                                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                            into producing goodsservices

                                                                                                                                                            bull CAPITAL Includes tools machines buildings and

                                                                                                                                                            technologies

                                                                                                                                                            bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                            land labor and capital to produce goods and services

                                                                                                                                                            TASK

                                                                                                                                                            bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                            bullAnswer in 2-3 sentences

                                                                                                                                                            The price ofhellip

                                                                                                                                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                            Economic efficiency is achieved when all available resources are being used

                                                                                                                                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                            1 What to produce

                                                                                                                                                            bullShould it be military or civilian goods

                                                                                                                                                            bullFood or clothingbullMedicine or movies

                                                                                                                                                            2 How to produce it

                                                                                                                                                            bullAutomated or manual labor

                                                                                                                                                            bullExpensive or cheap materials

                                                                                                                                                            bullDomestic or overseas labor

                                                                                                                                                            3 For whom to produce it

                                                                                                                                                            bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                            Application Activity

                                                                                                                                                            bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                            bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                            information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                            answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                            withhellip Images representing what you produce and a

                                                                                                                                                            slogan for why your country is awesome

                                                                                                                                                            EQs

                                                                                                                                                            bullHow does scarcity impact decision making

                                                                                                                                                            Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                            I will be able to create and reflect on a budget given new economics content

                                                                                                                                                            I will be able to understand scarcity and our mixed economy

                                                                                                                                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                            Group Activity Budget Activity

                                                                                                                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                            How do we satisfy our economic wants

                                                                                                                                                            bull We buy goods or services

                                                                                                                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                            How do we make goods amp services

                                                                                                                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                            Production Equation

                                                                                                                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                            inputs output

                                                                                                                                                            Economic Interdependence

                                                                                                                                                            bullWhat does lsquointerdependencersquo mean

                                                                                                                                                            bullIs our world becoming economic interdependent or independent

                                                                                                                                                            bullEconomic Interdependence the actions of one part of the

                                                                                                                                                            country (world) has an impact on what happens elsewhere

                                                                                                                                                            Wants amp Needs gt

                                                                                                                                                            Resources

                                                                                                                                                            Because of scarcity we

                                                                                                                                                            have to make choices

                                                                                                                                                            How do we make a choice What do we give up

                                                                                                                                                            What does this remind you of from our government unit

                                                                                                                                                            Making Choices to Deal With Scarcity

                                                                                                                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                            decision over another

                                                                                                                                                            ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                            school today or should I sleep in

                                                                                                                                                            Task Reflecting on Personal Trade-offshellip

                                                                                                                                                            In the end what helped you decide amongst your choices

                                                                                                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                            tradeoffs for that decision

                                                                                                                                                            Be prepared to share

                                                                                                                                                            Opportunity Cost

                                                                                                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                            we want

                                                                                                                                                            What else influences your choices

                                                                                                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                            FinallyhellipWhy it Matters

                                                                                                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                            better decision-maker

                                                                                                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                            You always have to give something uphelliprdquo

                                                                                                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                            decisions

                                                                                                                                                            Visualizing the Relationshiphellip

                                                                                                                                                            Limited Resources amp Unlimited Wants

                                                                                                                                                            Scarcity

                                                                                                                                                            Trade-offs (choices)

                                                                                                                                                            Opportunity Costs

                                                                                                                                                            ObjectivesEssential Questions

                                                                                                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                            the three different types of economies

                                                                                                                                                            bullEssential Question How do the different types of economies work

                                                                                                                                                            How Can We Measure What We Gain and Lose When

                                                                                                                                                            Making Choices

                                                                                                                                                            Answer With a Production Possibilities Frontier

                                                                                                                                                            Production Possibilities Frontier

                                                                                                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                            PPF Assumptions

                                                                                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                            Production Possibilities Curve

                                                                                                                                                            CD

                                                                                                                                                            E

                                                                                                                                                            OU

                                                                                                                                                            TP

                                                                                                                                                            UT

                                                                                                                                                            OF

                                                                                                                                                            CO

                                                                                                                                                            NS

                                                                                                                                                            UM

                                                                                                                                                            ER

                                                                                                                                                            GO

                                                                                                                                                            OD

                                                                                                                                                            S

                                                                                                                                                            (un

                                                                                                                                                            its

                                                                                                                                                            per

                                                                                                                                                            yea

                                                                                                                                                            r)

                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                            A

                                                                                                                                                            BO

                                                                                                                                                            XF

                                                                                                                                                            G

                                                                                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                                                                                            The Choices Nations Make

                                                                                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                            bullProduce military goods or consumer goods

                                                                                                                                                            Economic Growth

                                                                                                                                                            2000 production possibilities

                                                                                                                                                            1900 production possibilities

                                                                                                                                                            OU

                                                                                                                                                            TP

                                                                                                                                                            UT

                                                                                                                                                            OF

                                                                                                                                                            CO

                                                                                                                                                            NS

                                                                                                                                                            UM

                                                                                                                                                            ER

                                                                                                                                                            GO

                                                                                                                                                            OD

                                                                                                                                                            S(u

                                                                                                                                                            nits

                                                                                                                                                            per

                                                                                                                                                            yea

                                                                                                                                                            r)

                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                            Production possibilities increases with more resources and technology

                                                                                                                                                            The Classic Guns and Butter example

                                                                                                                                                            Guns

                                                                                                                                                            Butter

                                                                                                                                                            10000 20000 30000 40000 50000

                                                                                                                                                            1000009500085000

                                                                                                                                                            70000

                                                                                                                                                            5000040000

                                                                                                                                                            BA

                                                                                                                                                            C

                                                                                                                                                            D

                                                                                                                                                            E

                                                                                                                                                            F

                                                                                                                                                            At point A all resources are used for butter

                                                                                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                            At point F all resources are used for Guns

                                                                                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                                                                                            choices are

                                                                                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                            Locations on a PPF

                                                                                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                            Food

                                                                                                                                                            Computer

                                                                                                                                                            4

                                                                                                                                                            3

                                                                                                                                                            2

                                                                                                                                                            1

                                                                                                                                                            1 2 3 4

                                                                                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                            Unit

                                                                                                                                                            Constantly giving up the same quantity of food to get

                                                                                                                                                            additional computers

                                                                                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                            Principle of Increasing Costs

                                                                                                                                                            As a society produces more of one product the OC of producing

                                                                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                            Economic Systems

                                                                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                                                                            Jigsaw activity

                                                                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                                                                            bull Economic Freedom

                                                                                                                                                            bull Economic Efficiency

                                                                                                                                                            bull Economic Equity

                                                                                                                                                            bull Economic Security

                                                                                                                                                            Economic Stability

                                                                                                                                                            Economic Growth

                                                                                                                                                            Review of Economic Systems

                                                                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                            What are the most important goals of each economic system

                                                                                                                                                            bullTraditionalSecurity and

                                                                                                                                                            StabilitybullCommand

                                                                                                                                                            Equity and Security

                                                                                                                                                            bullMARKETEfficiency and

                                                                                                                                                            Freedom

                                                                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                                                                            Which economic system does the US use

                                                                                                                                                            The American Economic System

                                                                                                                                                            bullWe have a mixed market economy

                                                                                                                                                            COMMAND MARKET

                                                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                            Think backhellip

                                                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                            2 Limited government

                                                                                                                                                            3 Equal opportunity

                                                                                                                                                            4 Competition

                                                                                                                                                            5 Profit motive

                                                                                                                                                            6 Property Rights

                                                                                                                                                            7 Binding Contracts

                                                                                                                                                            Understanding how all parts fit together

                                                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                            Shows interdependence between

                                                                                                                                                            businesses and individuals

                                                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                            Do you remember

                                                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                            democracy and mixed economy

                                                                                                                                                            • Foundations of Government and Economics
                                                                                                                                                            • On your blank piece of paperhellip
                                                                                                                                                            • Slide 3
                                                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                                                            • Introductory thoughts hellip
                                                                                                                                                            • Slide 6
                                                                                                                                                            • 2 How about to your life
                                                                                                                                                            • Slide 8
                                                                                                                                                            • Slide 9
                                                                                                                                                            • Slide 10
                                                                                                                                                            • Slide 11
                                                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                                                            • Economist and Politician Assumptions
                                                                                                                                                            • Individualism
                                                                                                                                                            • Quote activity
                                                                                                                                                            • Quote breakdown
                                                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                                                            • Purpose of Government
                                                                                                                                                            • Slide 20
                                                                                                                                                            • 3 Theorists
                                                                                                                                                            • Activity
                                                                                                                                                            • Origins of American Government A customized government
                                                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                                                            • With which theory do you agree more Why
                                                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                                                            • Groups Block 2
                                                                                                                                                            • Groups Block 4
                                                                                                                                                            • Balloon Game
                                                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                            • Balloon Game Debriefing
                                                                                                                                                            • Political Theories
                                                                                                                                                            • Social Contract
                                                                                                                                                            • Natural Rights
                                                                                                                                                            • Democracy
                                                                                                                                                            • Concepts of Government
                                                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                                                            • Warm Up 7
                                                                                                                                                            • And after the Constitution
                                                                                                                                                            • Activity (2)
                                                                                                                                                            • Picture Activity
                                                                                                                                                            • Constitutional Convention
                                                                                                                                                            • Purpose of the Convention
                                                                                                                                                            • VA Plan v NJ Plan
                                                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                            • Your Task
                                                                                                                                                            • Closure
                                                                                                                                                            • States agree
                                                                                                                                                            • Quote
                                                                                                                                                            • Structure of Constitution
                                                                                                                                                            • Structure of Constitution
                                                                                                                                                            • 6 Purpose of Government
                                                                                                                                                            • Structure of Constitution (2)
                                                                                                                                                            • Structure of Constitution (3)
                                                                                                                                                            • Principles of Constitution
                                                                                                                                                            • Activity
                                                                                                                                                            • Slide 60
                                                                                                                                                            • Check for Understanding Six Principles
                                                                                                                                                            • Question 1
                                                                                                                                                            • Question 2
                                                                                                                                                            • Question 3
                                                                                                                                                            • Question 4
                                                                                                                                                            • Question 5
                                                                                                                                                            • Question 6
                                                                                                                                                            • Question 7
                                                                                                                                                            • Question 8
                                                                                                                                                            • Groups
                                                                                                                                                            • Separation of Powers
                                                                                                                                                            • Video
                                                                                                                                                            • Checks and Balances
                                                                                                                                                            • Slide 74
                                                                                                                                                            • Checks and balances
                                                                                                                                                            • Basic Principles
                                                                                                                                                            • Self- Worth
                                                                                                                                                            • Equality
                                                                                                                                                            • Compromise
                                                                                                                                                            • Individual Freedom
                                                                                                                                                            • Write your ownhellip
                                                                                                                                                            • Slide 82
                                                                                                                                                            • TED Talk
                                                                                                                                                            • Closure
                                                                                                                                                            • What is Economics
                                                                                                                                                            • Economics ishellip
                                                                                                                                                            • Back to our assumptionshellip
                                                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                            • For the videohellip
                                                                                                                                                            • Slide 90
                                                                                                                                                            • Post Videohellip
                                                                                                                                                            • Advertisement
                                                                                                                                                            • Political Cartoon Analysis
                                                                                                                                                            • Factors of Production
                                                                                                                                                            • TASK
                                                                                                                                                            • The price ofhellip
                                                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                                                            • 1 What to produce
                                                                                                                                                            • 2 How to produce it
                                                                                                                                                            • 3 For whom to produce it
                                                                                                                                                            • Application Activity
                                                                                                                                                            • EQs
                                                                                                                                                            • Objectives amp Essential Questions
                                                                                                                                                            • Group Activity Budget Activity
                                                                                                                                                            • Slide 105
                                                                                                                                                            • How do we satisfy our economic wants
                                                                                                                                                            • How do we make goods amp services
                                                                                                                                                            • Economic Interdependence
                                                                                                                                                            • Slide 109
                                                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                                                            • Exampleshellip
                                                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                            • Opportunity Cost
                                                                                                                                                            • What else influences your choices
                                                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                                                            • ObjectivesEssential Questions
                                                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                            • Production Possibilities Frontier
                                                                                                                                                            • PPF Assumptions
                                                                                                                                                            • Slide 121
                                                                                                                                                            • Production Possibilities Curve
                                                                                                                                                            • The Choices Nations Make
                                                                                                                                                            • Economic Growth
                                                                                                                                                            • The Classic Guns and Butter example
                                                                                                                                                            • Productivity
                                                                                                                                                            • Locations on a PPF
                                                                                                                                                            • Slide 128
                                                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                            • Economic Systems
                                                                                                                                                            • Jigsaw activity
                                                                                                                                                            • Slide 132
                                                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                                                            • Review of Economic Systems
                                                                                                                                                            • Slide 135
                                                                                                                                                            • What are the most important goals of each economic system
                                                                                                                                                            • Which economic system does the US use
                                                                                                                                                            • The American Economic System
                                                                                                                                                            • The US mixed economy
                                                                                                                                                            • Slide 140
                                                                                                                                                            • Think backhellip
                                                                                                                                                            • US Economic System Characteristics
                                                                                                                                                            • Slide 143
                                                                                                                                                            • Understanding how all parts fit together
                                                                                                                                                            • Marriage Vows
                                                                                                                                                            • Do you remember
                                                                                                                                                            • Slide 147

                                                                                                                                                              Write your ownhellipbull Now that you know what the foundations of

                                                                                                                                                              government arehellip Create your own Constitution (Or social contract)

                                                                                                                                                              What do you think is important to include What do you think could be taken out

                                                                                                                                                              Start with ldquoWe the peoplehelliprdquo and create the ideal contract

                                                                                                                                                              Preamble (brief introduction) Articles (what should it include based on what we

                                                                                                                                                              learned so far Include and agree on 10 points) Amendments (what do you think it should take to

                                                                                                                                                              change it)

                                                                                                                                                              bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                                              paper

                                                                                                                                                              TED Talk

                                                                                                                                                              bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                              Closure

                                                                                                                                                              bullExplain two principles of the constitution and how are they connected

                                                                                                                                                              What is Economics

                                                                                                                                                              bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                              Important Parts of Economicsndash

                                                                                                                                                              CHOICESSCARCITY

                                                                                                                                                              Economics ishellip

                                                                                                                                                              bullDependent upon assumptions

                                                                                                                                                              bullDependent upon simplification of reality

                                                                                                                                                              Back to our assumptionshellip

                                                                                                                                                              bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                              bullAll sellers seek to maximize profits

                                                                                                                                                              Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                              For the videohellip

                                                                                                                                                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                              Post Videohellip

                                                                                                                                                              bullDefine the main idea of the video in 4-5 words

                                                                                                                                                              Advertisement

                                                                                                                                                              bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                              3 images that represent different economic ideas

                                                                                                                                                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                              1 slogan that represents why economics is an important course to take

                                                                                                                                                              Political Cartoon Analysis

                                                                                                                                                              Factors of Production bull LAND

                                                                                                                                                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                              soil minerals water and plants

                                                                                                                                                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                              into producing goodsservices

                                                                                                                                                              bull CAPITAL Includes tools machines buildings and

                                                                                                                                                              technologies

                                                                                                                                                              bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                              land labor and capital to produce goods and services

                                                                                                                                                              TASK

                                                                                                                                                              bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                              bullAnswer in 2-3 sentences

                                                                                                                                                              The price ofhellip

                                                                                                                                                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                              Economic efficiency is achieved when all available resources are being used

                                                                                                                                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                              1 What to produce

                                                                                                                                                              bullShould it be military or civilian goods

                                                                                                                                                              bullFood or clothingbullMedicine or movies

                                                                                                                                                              2 How to produce it

                                                                                                                                                              bullAutomated or manual labor

                                                                                                                                                              bullExpensive or cheap materials

                                                                                                                                                              bullDomestic or overseas labor

                                                                                                                                                              3 For whom to produce it

                                                                                                                                                              bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                              Application Activity

                                                                                                                                                              bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                              bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                              information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                              answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                              withhellip Images representing what you produce and a

                                                                                                                                                              slogan for why your country is awesome

                                                                                                                                                              EQs

                                                                                                                                                              bullHow does scarcity impact decision making

                                                                                                                                                              Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                              I will be able to create and reflect on a budget given new economics content

                                                                                                                                                              I will be able to understand scarcity and our mixed economy

                                                                                                                                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                              Group Activity Budget Activity

                                                                                                                                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                              How do we satisfy our economic wants

                                                                                                                                                              bull We buy goods or services

                                                                                                                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                              How do we make goods amp services

                                                                                                                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                              Production Equation

                                                                                                                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                              inputs output

                                                                                                                                                              Economic Interdependence

                                                                                                                                                              bullWhat does lsquointerdependencersquo mean

                                                                                                                                                              bullIs our world becoming economic interdependent or independent

                                                                                                                                                              bullEconomic Interdependence the actions of one part of the

                                                                                                                                                              country (world) has an impact on what happens elsewhere

                                                                                                                                                              Wants amp Needs gt

                                                                                                                                                              Resources

                                                                                                                                                              Because of scarcity we

                                                                                                                                                              have to make choices

                                                                                                                                                              How do we make a choice What do we give up

                                                                                                                                                              What does this remind you of from our government unit

                                                                                                                                                              Making Choices to Deal With Scarcity

                                                                                                                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                              decision over another

                                                                                                                                                              ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                              school today or should I sleep in

                                                                                                                                                              Task Reflecting on Personal Trade-offshellip

                                                                                                                                                              In the end what helped you decide amongst your choices

                                                                                                                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                              tradeoffs for that decision

                                                                                                                                                              Be prepared to share

                                                                                                                                                              Opportunity Cost

                                                                                                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                              we want

                                                                                                                                                              What else influences your choices

                                                                                                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                              FinallyhellipWhy it Matters

                                                                                                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                              better decision-maker

                                                                                                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                              You always have to give something uphelliprdquo

                                                                                                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                              decisions

                                                                                                                                                              Visualizing the Relationshiphellip

                                                                                                                                                              Limited Resources amp Unlimited Wants

                                                                                                                                                              Scarcity

                                                                                                                                                              Trade-offs (choices)

                                                                                                                                                              Opportunity Costs

                                                                                                                                                              ObjectivesEssential Questions

                                                                                                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                              the three different types of economies

                                                                                                                                                              bullEssential Question How do the different types of economies work

                                                                                                                                                              How Can We Measure What We Gain and Lose When

                                                                                                                                                              Making Choices

                                                                                                                                                              Answer With a Production Possibilities Frontier

                                                                                                                                                              Production Possibilities Frontier

                                                                                                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                              PPF Assumptions

                                                                                                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                              Production Possibilities Curve

                                                                                                                                                              CD

                                                                                                                                                              E

                                                                                                                                                              OU

                                                                                                                                                              TP

                                                                                                                                                              UT

                                                                                                                                                              OF

                                                                                                                                                              CO

                                                                                                                                                              NS

                                                                                                                                                              UM

                                                                                                                                                              ER

                                                                                                                                                              GO

                                                                                                                                                              OD

                                                                                                                                                              S

                                                                                                                                                              (un

                                                                                                                                                              its

                                                                                                                                                              per

                                                                                                                                                              yea

                                                                                                                                                              r)

                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                              A

                                                                                                                                                              BO

                                                                                                                                                              XF

                                                                                                                                                              G

                                                                                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                                                                                              The Choices Nations Make

                                                                                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                              bullProduce military goods or consumer goods

                                                                                                                                                              Economic Growth

                                                                                                                                                              2000 production possibilities

                                                                                                                                                              1900 production possibilities

                                                                                                                                                              OU

                                                                                                                                                              TP

                                                                                                                                                              UT

                                                                                                                                                              OF

                                                                                                                                                              CO

                                                                                                                                                              NS

                                                                                                                                                              UM

                                                                                                                                                              ER

                                                                                                                                                              GO

                                                                                                                                                              OD

                                                                                                                                                              S(u

                                                                                                                                                              nits

                                                                                                                                                              per

                                                                                                                                                              yea

                                                                                                                                                              r)

                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                              Production possibilities increases with more resources and technology

                                                                                                                                                              The Classic Guns and Butter example

                                                                                                                                                              Guns

                                                                                                                                                              Butter

                                                                                                                                                              10000 20000 30000 40000 50000

                                                                                                                                                              1000009500085000

                                                                                                                                                              70000

                                                                                                                                                              5000040000

                                                                                                                                                              BA

                                                                                                                                                              C

                                                                                                                                                              D

                                                                                                                                                              E

                                                                                                                                                              F

                                                                                                                                                              At point A all resources are used for butter

                                                                                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                              At point F all resources are used for Guns

                                                                                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                                                                                              choices are

                                                                                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                              Locations on a PPF

                                                                                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                              Food

                                                                                                                                                              Computer

                                                                                                                                                              4

                                                                                                                                                              3

                                                                                                                                                              2

                                                                                                                                                              1

                                                                                                                                                              1 2 3 4

                                                                                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                              Unit

                                                                                                                                                              Constantly giving up the same quantity of food to get

                                                                                                                                                              additional computers

                                                                                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                              Principle of Increasing Costs

                                                                                                                                                              As a society produces more of one product the OC of producing

                                                                                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                              Economic Systems

                                                                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                                                                              Jigsaw activity

                                                                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                                                                              bull Economic Freedom

                                                                                                                                                              bull Economic Efficiency

                                                                                                                                                              bull Economic Equity

                                                                                                                                                              bull Economic Security

                                                                                                                                                              Economic Stability

                                                                                                                                                              Economic Growth

                                                                                                                                                              Review of Economic Systems

                                                                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                              What are the most important goals of each economic system

                                                                                                                                                              bullTraditionalSecurity and

                                                                                                                                                              StabilitybullCommand

                                                                                                                                                              Equity and Security

                                                                                                                                                              bullMARKETEfficiency and

                                                                                                                                                              Freedom

                                                                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                                                                              Which economic system does the US use

                                                                                                                                                              The American Economic System

                                                                                                                                                              bullWe have a mixed market economy

                                                                                                                                                              COMMAND MARKET

                                                                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                              Think backhellip

                                                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                              2 Limited government

                                                                                                                                                              3 Equal opportunity

                                                                                                                                                              4 Competition

                                                                                                                                                              5 Profit motive

                                                                                                                                                              6 Property Rights

                                                                                                                                                              7 Binding Contracts

                                                                                                                                                              Understanding how all parts fit together

                                                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                              Shows interdependence between

                                                                                                                                                              businesses and individuals

                                                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                              Do you remember

                                                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                              democracy and mixed economy

                                                                                                                                                              • Foundations of Government and Economics
                                                                                                                                                              • On your blank piece of paperhellip
                                                                                                                                                              • Slide 3
                                                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                                                              • Introductory thoughts hellip
                                                                                                                                                              • Slide 6
                                                                                                                                                              • 2 How about to your life
                                                                                                                                                              • Slide 8
                                                                                                                                                              • Slide 9
                                                                                                                                                              • Slide 10
                                                                                                                                                              • Slide 11
                                                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                                                              • Economist and Politician Assumptions
                                                                                                                                                              • Individualism
                                                                                                                                                              • Quote activity
                                                                                                                                                              • Quote breakdown
                                                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                                                              • Purpose of Government
                                                                                                                                                              • Slide 20
                                                                                                                                                              • 3 Theorists
                                                                                                                                                              • Activity
                                                                                                                                                              • Origins of American Government A customized government
                                                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                                                              • With which theory do you agree more Why
                                                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                                                              • Groups Block 2
                                                                                                                                                              • Groups Block 4
                                                                                                                                                              • Balloon Game
                                                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                              • Balloon Game Debriefing
                                                                                                                                                              • Political Theories
                                                                                                                                                              • Social Contract
                                                                                                                                                              • Natural Rights
                                                                                                                                                              • Democracy
                                                                                                                                                              • Concepts of Government
                                                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                                                              • Warm Up 7
                                                                                                                                                              • And after the Constitution
                                                                                                                                                              • Activity (2)
                                                                                                                                                              • Picture Activity
                                                                                                                                                              • Constitutional Convention
                                                                                                                                                              • Purpose of the Convention
                                                                                                                                                              • VA Plan v NJ Plan
                                                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                              • Your Task
                                                                                                                                                              • Closure
                                                                                                                                                              • States agree
                                                                                                                                                              • Quote
                                                                                                                                                              • Structure of Constitution
                                                                                                                                                              • Structure of Constitution
                                                                                                                                                              • 6 Purpose of Government
                                                                                                                                                              • Structure of Constitution (2)
                                                                                                                                                              • Structure of Constitution (3)
                                                                                                                                                              • Principles of Constitution
                                                                                                                                                              • Activity
                                                                                                                                                              • Slide 60
                                                                                                                                                              • Check for Understanding Six Principles
                                                                                                                                                              • Question 1
                                                                                                                                                              • Question 2
                                                                                                                                                              • Question 3
                                                                                                                                                              • Question 4
                                                                                                                                                              • Question 5
                                                                                                                                                              • Question 6
                                                                                                                                                              • Question 7
                                                                                                                                                              • Question 8
                                                                                                                                                              • Groups
                                                                                                                                                              • Separation of Powers
                                                                                                                                                              • Video
                                                                                                                                                              • Checks and Balances
                                                                                                                                                              • Slide 74
                                                                                                                                                              • Checks and balances
                                                                                                                                                              • Basic Principles
                                                                                                                                                              • Self- Worth
                                                                                                                                                              • Equality
                                                                                                                                                              • Compromise
                                                                                                                                                              • Individual Freedom
                                                                                                                                                              • Write your ownhellip
                                                                                                                                                              • Slide 82
                                                                                                                                                              • TED Talk
                                                                                                                                                              • Closure
                                                                                                                                                              • What is Economics
                                                                                                                                                              • Economics ishellip
                                                                                                                                                              • Back to our assumptionshellip
                                                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                              • For the videohellip
                                                                                                                                                              • Slide 90
                                                                                                                                                              • Post Videohellip
                                                                                                                                                              • Advertisement
                                                                                                                                                              • Political Cartoon Analysis
                                                                                                                                                              • Factors of Production
                                                                                                                                                              • TASK
                                                                                                                                                              • The price ofhellip
                                                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                                                              • 1 What to produce
                                                                                                                                                              • 2 How to produce it
                                                                                                                                                              • 3 For whom to produce it
                                                                                                                                                              • Application Activity
                                                                                                                                                              • EQs
                                                                                                                                                              • Objectives amp Essential Questions
                                                                                                                                                              • Group Activity Budget Activity
                                                                                                                                                              • Slide 105
                                                                                                                                                              • How do we satisfy our economic wants
                                                                                                                                                              • How do we make goods amp services
                                                                                                                                                              • Economic Interdependence
                                                                                                                                                              • Slide 109
                                                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                                                              • Exampleshellip
                                                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                              • Opportunity Cost
                                                                                                                                                              • What else influences your choices
                                                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                                                              • ObjectivesEssential Questions
                                                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                              • Production Possibilities Frontier
                                                                                                                                                              • PPF Assumptions
                                                                                                                                                              • Slide 121
                                                                                                                                                              • Production Possibilities Curve
                                                                                                                                                              • The Choices Nations Make
                                                                                                                                                              • Economic Growth
                                                                                                                                                              • The Classic Guns and Butter example
                                                                                                                                                              • Productivity
                                                                                                                                                              • Locations on a PPF
                                                                                                                                                              • Slide 128
                                                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                              • Economic Systems
                                                                                                                                                              • Jigsaw activity
                                                                                                                                                              • Slide 132
                                                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                                                              • Review of Economic Systems
                                                                                                                                                              • Slide 135
                                                                                                                                                              • What are the most important goals of each economic system
                                                                                                                                                              • Which economic system does the US use
                                                                                                                                                              • The American Economic System
                                                                                                                                                              • The US mixed economy
                                                                                                                                                              • Slide 140
                                                                                                                                                              • Think backhellip
                                                                                                                                                              • US Economic System Characteristics
                                                                                                                                                              • Slide 143
                                                                                                                                                              • Understanding how all parts fit together
                                                                                                                                                              • Marriage Vows
                                                                                                                                                              • Do you remember
                                                                                                                                                              • Slide 147

                                                                                                                                                                bullFor your quiz tomorrowhellip What questions would you expect to seeWrite 5 and the answers on the back of the

                                                                                                                                                                paper

                                                                                                                                                                TED Talk

                                                                                                                                                                bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                                Closure

                                                                                                                                                                bullExplain two principles of the constitution and how are they connected

                                                                                                                                                                What is Economics

                                                                                                                                                                bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                                Important Parts of Economicsndash

                                                                                                                                                                CHOICESSCARCITY

                                                                                                                                                                Economics ishellip

                                                                                                                                                                bullDependent upon assumptions

                                                                                                                                                                bullDependent upon simplification of reality

                                                                                                                                                                Back to our assumptionshellip

                                                                                                                                                                bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                                bullAll sellers seek to maximize profits

                                                                                                                                                                Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                                For the videohellip

                                                                                                                                                                bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                                Post Videohellip

                                                                                                                                                                bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                Advertisement

                                                                                                                                                                bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                3 images that represent different economic ideas

                                                                                                                                                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                1 slogan that represents why economics is an important course to take

                                                                                                                                                                Political Cartoon Analysis

                                                                                                                                                                Factors of Production bull LAND

                                                                                                                                                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                soil minerals water and plants

                                                                                                                                                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                into producing goodsservices

                                                                                                                                                                bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                technologies

                                                                                                                                                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                land labor and capital to produce goods and services

                                                                                                                                                                TASK

                                                                                                                                                                bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                bullAnswer in 2-3 sentences

                                                                                                                                                                The price ofhellip

                                                                                                                                                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                1 What to produce

                                                                                                                                                                bullShould it be military or civilian goods

                                                                                                                                                                bullFood or clothingbullMedicine or movies

                                                                                                                                                                2 How to produce it

                                                                                                                                                                bullAutomated or manual labor

                                                                                                                                                                bullExpensive or cheap materials

                                                                                                                                                                bullDomestic or overseas labor

                                                                                                                                                                3 For whom to produce it

                                                                                                                                                                bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                Application Activity

                                                                                                                                                                bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                withhellip Images representing what you produce and a

                                                                                                                                                                slogan for why your country is awesome

                                                                                                                                                                EQs

                                                                                                                                                                bullHow does scarcity impact decision making

                                                                                                                                                                Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                I will be able to understand scarcity and our mixed economy

                                                                                                                                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                Group Activity Budget Activity

                                                                                                                                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                How do we satisfy our economic wants

                                                                                                                                                                bull We buy goods or services

                                                                                                                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                How do we make goods amp services

                                                                                                                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                Production Equation

                                                                                                                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                inputs output

                                                                                                                                                                Economic Interdependence

                                                                                                                                                                bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                bullIs our world becoming economic interdependent or independent

                                                                                                                                                                bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                country (world) has an impact on what happens elsewhere

                                                                                                                                                                Wants amp Needs gt

                                                                                                                                                                Resources

                                                                                                                                                                Because of scarcity we

                                                                                                                                                                have to make choices

                                                                                                                                                                How do we make a choice What do we give up

                                                                                                                                                                What does this remind you of from our government unit

                                                                                                                                                                Making Choices to Deal With Scarcity

                                                                                                                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                decision over another

                                                                                                                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                school today or should I sleep in

                                                                                                                                                                Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                In the end what helped you decide amongst your choices

                                                                                                                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                tradeoffs for that decision

                                                                                                                                                                Be prepared to share

                                                                                                                                                                Opportunity Cost

                                                                                                                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                we want

                                                                                                                                                                What else influences your choices

                                                                                                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                FinallyhellipWhy it Matters

                                                                                                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                better decision-maker

                                                                                                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                You always have to give something uphelliprdquo

                                                                                                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                decisions

                                                                                                                                                                Visualizing the Relationshiphellip

                                                                                                                                                                Limited Resources amp Unlimited Wants

                                                                                                                                                                Scarcity

                                                                                                                                                                Trade-offs (choices)

                                                                                                                                                                Opportunity Costs

                                                                                                                                                                ObjectivesEssential Questions

                                                                                                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                the three different types of economies

                                                                                                                                                                bullEssential Question How do the different types of economies work

                                                                                                                                                                How Can We Measure What We Gain and Lose When

                                                                                                                                                                Making Choices

                                                                                                                                                                Answer With a Production Possibilities Frontier

                                                                                                                                                                Production Possibilities Frontier

                                                                                                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                PPF Assumptions

                                                                                                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                Production Possibilities Curve

                                                                                                                                                                CD

                                                                                                                                                                E

                                                                                                                                                                OU

                                                                                                                                                                TP

                                                                                                                                                                UT

                                                                                                                                                                OF

                                                                                                                                                                CO

                                                                                                                                                                NS

                                                                                                                                                                UM

                                                                                                                                                                ER

                                                                                                                                                                GO

                                                                                                                                                                OD

                                                                                                                                                                S

                                                                                                                                                                (un

                                                                                                                                                                its

                                                                                                                                                                per

                                                                                                                                                                yea

                                                                                                                                                                r)

                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                A

                                                                                                                                                                BO

                                                                                                                                                                XF

                                                                                                                                                                G

                                                                                                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                The Choices Nations Make

                                                                                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                bullProduce military goods or consumer goods

                                                                                                                                                                Economic Growth

                                                                                                                                                                2000 production possibilities

                                                                                                                                                                1900 production possibilities

                                                                                                                                                                OU

                                                                                                                                                                TP

                                                                                                                                                                UT

                                                                                                                                                                OF

                                                                                                                                                                CO

                                                                                                                                                                NS

                                                                                                                                                                UM

                                                                                                                                                                ER

                                                                                                                                                                GO

                                                                                                                                                                OD

                                                                                                                                                                S(u

                                                                                                                                                                nits

                                                                                                                                                                per

                                                                                                                                                                yea

                                                                                                                                                                r)

                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                Production possibilities increases with more resources and technology

                                                                                                                                                                The Classic Guns and Butter example

                                                                                                                                                                Guns

                                                                                                                                                                Butter

                                                                                                                                                                10000 20000 30000 40000 50000

                                                                                                                                                                1000009500085000

                                                                                                                                                                70000

                                                                                                                                                                5000040000

                                                                                                                                                                BA

                                                                                                                                                                C

                                                                                                                                                                D

                                                                                                                                                                E

                                                                                                                                                                F

                                                                                                                                                                At point A all resources are used for butter

                                                                                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                At point F all resources are used for Guns

                                                                                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                choices are

                                                                                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                Locations on a PPF

                                                                                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                Food

                                                                                                                                                                Computer

                                                                                                                                                                4

                                                                                                                                                                3

                                                                                                                                                                2

                                                                                                                                                                1

                                                                                                                                                                1 2 3 4

                                                                                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                Unit

                                                                                                                                                                Constantly giving up the same quantity of food to get

                                                                                                                                                                additional computers

                                                                                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                Principle of Increasing Costs

                                                                                                                                                                As a society produces more of one product the OC of producing

                                                                                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                Economic Systems

                                                                                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                Jigsaw activity

                                                                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                                                                bull Economic Freedom

                                                                                                                                                                bull Economic Efficiency

                                                                                                                                                                bull Economic Equity

                                                                                                                                                                bull Economic Security

                                                                                                                                                                Economic Stability

                                                                                                                                                                Economic Growth

                                                                                                                                                                Review of Economic Systems

                                                                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                What are the most important goals of each economic system

                                                                                                                                                                bullTraditionalSecurity and

                                                                                                                                                                StabilitybullCommand

                                                                                                                                                                Equity and Security

                                                                                                                                                                bullMARKETEfficiency and

                                                                                                                                                                Freedom

                                                                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                                                                Which economic system does the US use

                                                                                                                                                                The American Economic System

                                                                                                                                                                bullWe have a mixed market economy

                                                                                                                                                                COMMAND MARKET

                                                                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                Think backhellip

                                                                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                2 Limited government

                                                                                                                                                                3 Equal opportunity

                                                                                                                                                                4 Competition

                                                                                                                                                                5 Profit motive

                                                                                                                                                                6 Property Rights

                                                                                                                                                                7 Binding Contracts

                                                                                                                                                                Understanding how all parts fit together

                                                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                Shows interdependence between

                                                                                                                                                                businesses and individuals

                                                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                Do you remember

                                                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                democracy and mixed economy

                                                                                                                                                                • Foundations of Government and Economics
                                                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                                                • Slide 3
                                                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                                                • Introductory thoughts hellip
                                                                                                                                                                • Slide 6
                                                                                                                                                                • 2 How about to your life
                                                                                                                                                                • Slide 8
                                                                                                                                                                • Slide 9
                                                                                                                                                                • Slide 10
                                                                                                                                                                • Slide 11
                                                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                                                • Individualism
                                                                                                                                                                • Quote activity
                                                                                                                                                                • Quote breakdown
                                                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                                                • Purpose of Government
                                                                                                                                                                • Slide 20
                                                                                                                                                                • 3 Theorists
                                                                                                                                                                • Activity
                                                                                                                                                                • Origins of American Government A customized government
                                                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                                                • With which theory do you agree more Why
                                                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                                                • Groups Block 2
                                                                                                                                                                • Groups Block 4
                                                                                                                                                                • Balloon Game
                                                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                • Balloon Game Debriefing
                                                                                                                                                                • Political Theories
                                                                                                                                                                • Social Contract
                                                                                                                                                                • Natural Rights
                                                                                                                                                                • Democracy
                                                                                                                                                                • Concepts of Government
                                                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                                                • Warm Up 7
                                                                                                                                                                • And after the Constitution
                                                                                                                                                                • Activity (2)
                                                                                                                                                                • Picture Activity
                                                                                                                                                                • Constitutional Convention
                                                                                                                                                                • Purpose of the Convention
                                                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                • Your Task
                                                                                                                                                                • Closure
                                                                                                                                                                • States agree
                                                                                                                                                                • Quote
                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                • 6 Purpose of Government
                                                                                                                                                                • Structure of Constitution (2)
                                                                                                                                                                • Structure of Constitution (3)
                                                                                                                                                                • Principles of Constitution
                                                                                                                                                                • Activity
                                                                                                                                                                • Slide 60
                                                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                                                • Question 1
                                                                                                                                                                • Question 2
                                                                                                                                                                • Question 3
                                                                                                                                                                • Question 4
                                                                                                                                                                • Question 5
                                                                                                                                                                • Question 6
                                                                                                                                                                • Question 7
                                                                                                                                                                • Question 8
                                                                                                                                                                • Groups
                                                                                                                                                                • Separation of Powers
                                                                                                                                                                • Video
                                                                                                                                                                • Checks and Balances
                                                                                                                                                                • Slide 74
                                                                                                                                                                • Checks and balances
                                                                                                                                                                • Basic Principles
                                                                                                                                                                • Self- Worth
                                                                                                                                                                • Equality
                                                                                                                                                                • Compromise
                                                                                                                                                                • Individual Freedom
                                                                                                                                                                • Write your ownhellip
                                                                                                                                                                • Slide 82
                                                                                                                                                                • TED Talk
                                                                                                                                                                • Closure
                                                                                                                                                                • What is Economics
                                                                                                                                                                • Economics ishellip
                                                                                                                                                                • Back to our assumptionshellip
                                                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                • For the videohellip
                                                                                                                                                                • Slide 90
                                                                                                                                                                • Post Videohellip
                                                                                                                                                                • Advertisement
                                                                                                                                                                • Political Cartoon Analysis
                                                                                                                                                                • Factors of Production
                                                                                                                                                                • TASK
                                                                                                                                                                • The price ofhellip
                                                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                • 1 What to produce
                                                                                                                                                                • 2 How to produce it
                                                                                                                                                                • 3 For whom to produce it
                                                                                                                                                                • Application Activity
                                                                                                                                                                • EQs
                                                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                                                • Group Activity Budget Activity
                                                                                                                                                                • Slide 105
                                                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                                                • How do we make goods amp services
                                                                                                                                                                • Economic Interdependence
                                                                                                                                                                • Slide 109
                                                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                                                • Exampleshellip
                                                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                • Opportunity Cost
                                                                                                                                                                • What else influences your choices
                                                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                • Production Possibilities Frontier
                                                                                                                                                                • PPF Assumptions
                                                                                                                                                                • Slide 121
                                                                                                                                                                • Production Possibilities Curve
                                                                                                                                                                • The Choices Nations Make
                                                                                                                                                                • Economic Growth
                                                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                                                • Productivity
                                                                                                                                                                • Locations on a PPF
                                                                                                                                                                • Slide 128
                                                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                • Economic Systems
                                                                                                                                                                • Jigsaw activity
                                                                                                                                                                • Slide 132
                                                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                                                • Review of Economic Systems
                                                                                                                                                                • Slide 135
                                                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                                                • Which economic system does the US use
                                                                                                                                                                • The American Economic System
                                                                                                                                                                • The US mixed economy
                                                                                                                                                                • Slide 140
                                                                                                                                                                • Think backhellip
                                                                                                                                                                • US Economic System Characteristics
                                                                                                                                                                • Slide 143
                                                                                                                                                                • Understanding how all parts fit together
                                                                                                                                                                • Marriage Vows
                                                                                                                                                                • Do you remember
                                                                                                                                                                • Slide 147

                                                                                                                                                                  TED Talk

                                                                                                                                                                  bullhttpwwwyoutubecomwatchv=ypqQ3-agpZo

                                                                                                                                                                  Closure

                                                                                                                                                                  bullExplain two principles of the constitution and how are they connected

                                                                                                                                                                  What is Economics

                                                                                                                                                                  bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                                  Important Parts of Economicsndash

                                                                                                                                                                  CHOICESSCARCITY

                                                                                                                                                                  Economics ishellip

                                                                                                                                                                  bullDependent upon assumptions

                                                                                                                                                                  bullDependent upon simplification of reality

                                                                                                                                                                  Back to our assumptionshellip

                                                                                                                                                                  bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                                  bullAll sellers seek to maximize profits

                                                                                                                                                                  Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                                  For the videohellip

                                                                                                                                                                  bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                                  bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                                  Post Videohellip

                                                                                                                                                                  bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                  Advertisement

                                                                                                                                                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                  3 images that represent different economic ideas

                                                                                                                                                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                  1 slogan that represents why economics is an important course to take

                                                                                                                                                                  Political Cartoon Analysis

                                                                                                                                                                  Factors of Production bull LAND

                                                                                                                                                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                  soil minerals water and plants

                                                                                                                                                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                  into producing goodsservices

                                                                                                                                                                  bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                  technologies

                                                                                                                                                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                  land labor and capital to produce goods and services

                                                                                                                                                                  TASK

                                                                                                                                                                  bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                  bullAnswer in 2-3 sentences

                                                                                                                                                                  The price ofhellip

                                                                                                                                                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                  Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                  1 What to produce

                                                                                                                                                                  bullShould it be military or civilian goods

                                                                                                                                                                  bullFood or clothingbullMedicine or movies

                                                                                                                                                                  2 How to produce it

                                                                                                                                                                  bullAutomated or manual labor

                                                                                                                                                                  bullExpensive or cheap materials

                                                                                                                                                                  bullDomestic or overseas labor

                                                                                                                                                                  3 For whom to produce it

                                                                                                                                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                  Application Activity

                                                                                                                                                                  bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                  bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                  withhellip Images representing what you produce and a

                                                                                                                                                                  slogan for why your country is awesome

                                                                                                                                                                  EQs

                                                                                                                                                                  bullHow does scarcity impact decision making

                                                                                                                                                                  Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                  I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                  I will be able to understand scarcity and our mixed economy

                                                                                                                                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                  Group Activity Budget Activity

                                                                                                                                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                  How do we satisfy our economic wants

                                                                                                                                                                  bull We buy goods or services

                                                                                                                                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                  How do we make goods amp services

                                                                                                                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                  Production Equation

                                                                                                                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                  inputs output

                                                                                                                                                                  Economic Interdependence

                                                                                                                                                                  bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                  bullIs our world becoming economic interdependent or independent

                                                                                                                                                                  bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                  country (world) has an impact on what happens elsewhere

                                                                                                                                                                  Wants amp Needs gt

                                                                                                                                                                  Resources

                                                                                                                                                                  Because of scarcity we

                                                                                                                                                                  have to make choices

                                                                                                                                                                  How do we make a choice What do we give up

                                                                                                                                                                  What does this remind you of from our government unit

                                                                                                                                                                  Making Choices to Deal With Scarcity

                                                                                                                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                  decision over another

                                                                                                                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                  school today or should I sleep in

                                                                                                                                                                  Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                  In the end what helped you decide amongst your choices

                                                                                                                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                  tradeoffs for that decision

                                                                                                                                                                  Be prepared to share

                                                                                                                                                                  Opportunity Cost

                                                                                                                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                  we want

                                                                                                                                                                  What else influences your choices

                                                                                                                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                  FinallyhellipWhy it Matters

                                                                                                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                  better decision-maker

                                                                                                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                  You always have to give something uphelliprdquo

                                                                                                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                  decisions

                                                                                                                                                                  Visualizing the Relationshiphellip

                                                                                                                                                                  Limited Resources amp Unlimited Wants

                                                                                                                                                                  Scarcity

                                                                                                                                                                  Trade-offs (choices)

                                                                                                                                                                  Opportunity Costs

                                                                                                                                                                  ObjectivesEssential Questions

                                                                                                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                  the three different types of economies

                                                                                                                                                                  bullEssential Question How do the different types of economies work

                                                                                                                                                                  How Can We Measure What We Gain and Lose When

                                                                                                                                                                  Making Choices

                                                                                                                                                                  Answer With a Production Possibilities Frontier

                                                                                                                                                                  Production Possibilities Frontier

                                                                                                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                  PPF Assumptions

                                                                                                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                  Production Possibilities Curve

                                                                                                                                                                  CD

                                                                                                                                                                  E

                                                                                                                                                                  OU

                                                                                                                                                                  TP

                                                                                                                                                                  UT

                                                                                                                                                                  OF

                                                                                                                                                                  CO

                                                                                                                                                                  NS

                                                                                                                                                                  UM

                                                                                                                                                                  ER

                                                                                                                                                                  GO

                                                                                                                                                                  OD

                                                                                                                                                                  S

                                                                                                                                                                  (un

                                                                                                                                                                  its

                                                                                                                                                                  per

                                                                                                                                                                  yea

                                                                                                                                                                  r)

                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                  A

                                                                                                                                                                  BO

                                                                                                                                                                  XF

                                                                                                                                                                  G

                                                                                                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                  The Choices Nations Make

                                                                                                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                  bullProduce military goods or consumer goods

                                                                                                                                                                  Economic Growth

                                                                                                                                                                  2000 production possibilities

                                                                                                                                                                  1900 production possibilities

                                                                                                                                                                  OU

                                                                                                                                                                  TP

                                                                                                                                                                  UT

                                                                                                                                                                  OF

                                                                                                                                                                  CO

                                                                                                                                                                  NS

                                                                                                                                                                  UM

                                                                                                                                                                  ER

                                                                                                                                                                  GO

                                                                                                                                                                  OD

                                                                                                                                                                  S(u

                                                                                                                                                                  nits

                                                                                                                                                                  per

                                                                                                                                                                  yea

                                                                                                                                                                  r)

                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                  Production possibilities increases with more resources and technology

                                                                                                                                                                  The Classic Guns and Butter example

                                                                                                                                                                  Guns

                                                                                                                                                                  Butter

                                                                                                                                                                  10000 20000 30000 40000 50000

                                                                                                                                                                  1000009500085000

                                                                                                                                                                  70000

                                                                                                                                                                  5000040000

                                                                                                                                                                  BA

                                                                                                                                                                  C

                                                                                                                                                                  D

                                                                                                                                                                  E

                                                                                                                                                                  F

                                                                                                                                                                  At point A all resources are used for butter

                                                                                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                  At point F all resources are used for Guns

                                                                                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                  choices are

                                                                                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                  Locations on a PPF

                                                                                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                  Food

                                                                                                                                                                  Computer

                                                                                                                                                                  4

                                                                                                                                                                  3

                                                                                                                                                                  2

                                                                                                                                                                  1

                                                                                                                                                                  1 2 3 4

                                                                                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                  Unit

                                                                                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                                                                                  additional computers

                                                                                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                  Principle of Increasing Costs

                                                                                                                                                                  As a society produces more of one product the OC of producing

                                                                                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                  Economic Systems

                                                                                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                  Jigsaw activity

                                                                                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                                                                  bull Economic Freedom

                                                                                                                                                                  bull Economic Efficiency

                                                                                                                                                                  bull Economic Equity

                                                                                                                                                                  bull Economic Security

                                                                                                                                                                  Economic Stability

                                                                                                                                                                  Economic Growth

                                                                                                                                                                  Review of Economic Systems

                                                                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                  What are the most important goals of each economic system

                                                                                                                                                                  bullTraditionalSecurity and

                                                                                                                                                                  StabilitybullCommand

                                                                                                                                                                  Equity and Security

                                                                                                                                                                  bullMARKETEfficiency and

                                                                                                                                                                  Freedom

                                                                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                                                                  Which economic system does the US use

                                                                                                                                                                  The American Economic System

                                                                                                                                                                  bullWe have a mixed market economy

                                                                                                                                                                  COMMAND MARKET

                                                                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                  Think backhellip

                                                                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                  2 Limited government

                                                                                                                                                                  3 Equal opportunity

                                                                                                                                                                  4 Competition

                                                                                                                                                                  5 Profit motive

                                                                                                                                                                  6 Property Rights

                                                                                                                                                                  7 Binding Contracts

                                                                                                                                                                  Understanding how all parts fit together

                                                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                  Shows interdependence between

                                                                                                                                                                  businesses and individuals

                                                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                  Do you remember

                                                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                  democracy and mixed economy

                                                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                                                  • Slide 3
                                                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                                                  • Slide 6
                                                                                                                                                                  • 2 How about to your life
                                                                                                                                                                  • Slide 8
                                                                                                                                                                  • Slide 9
                                                                                                                                                                  • Slide 10
                                                                                                                                                                  • Slide 11
                                                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                                                  • Individualism
                                                                                                                                                                  • Quote activity
                                                                                                                                                                  • Quote breakdown
                                                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                                                  • Purpose of Government
                                                                                                                                                                  • Slide 20
                                                                                                                                                                  • 3 Theorists
                                                                                                                                                                  • Activity
                                                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                                                  • Groups Block 2
                                                                                                                                                                  • Groups Block 4
                                                                                                                                                                  • Balloon Game
                                                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                                                  • Political Theories
                                                                                                                                                                  • Social Contract
                                                                                                                                                                  • Natural Rights
                                                                                                                                                                  • Democracy
                                                                                                                                                                  • Concepts of Government
                                                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                                                  • Warm Up 7
                                                                                                                                                                  • And after the Constitution
                                                                                                                                                                  • Activity (2)
                                                                                                                                                                  • Picture Activity
                                                                                                                                                                  • Constitutional Convention
                                                                                                                                                                  • Purpose of the Convention
                                                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                  • Your Task
                                                                                                                                                                  • Closure
                                                                                                                                                                  • States agree
                                                                                                                                                                  • Quote
                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                  • 6 Purpose of Government
                                                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                                                  • Principles of Constitution
                                                                                                                                                                  • Activity
                                                                                                                                                                  • Slide 60
                                                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                                                  • Question 1
                                                                                                                                                                  • Question 2
                                                                                                                                                                  • Question 3
                                                                                                                                                                  • Question 4
                                                                                                                                                                  • Question 5
                                                                                                                                                                  • Question 6
                                                                                                                                                                  • Question 7
                                                                                                                                                                  • Question 8
                                                                                                                                                                  • Groups
                                                                                                                                                                  • Separation of Powers
                                                                                                                                                                  • Video
                                                                                                                                                                  • Checks and Balances
                                                                                                                                                                  • Slide 74
                                                                                                                                                                  • Checks and balances
                                                                                                                                                                  • Basic Principles
                                                                                                                                                                  • Self- Worth
                                                                                                                                                                  • Equality
                                                                                                                                                                  • Compromise
                                                                                                                                                                  • Individual Freedom
                                                                                                                                                                  • Write your ownhellip
                                                                                                                                                                  • Slide 82
                                                                                                                                                                  • TED Talk
                                                                                                                                                                  • Closure
                                                                                                                                                                  • What is Economics
                                                                                                                                                                  • Economics ishellip
                                                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                  • For the videohellip
                                                                                                                                                                  • Slide 90
                                                                                                                                                                  • Post Videohellip
                                                                                                                                                                  • Advertisement
                                                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                                                  • Factors of Production
                                                                                                                                                                  • TASK
                                                                                                                                                                  • The price ofhellip
                                                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                  • 1 What to produce
                                                                                                                                                                  • 2 How to produce it
                                                                                                                                                                  • 3 For whom to produce it
                                                                                                                                                                  • Application Activity
                                                                                                                                                                  • EQs
                                                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                                                  • Slide 105
                                                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                                                  • How do we make goods amp services
                                                                                                                                                                  • Economic Interdependence
                                                                                                                                                                  • Slide 109
                                                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                                                  • Exampleshellip
                                                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                  • Opportunity Cost
                                                                                                                                                                  • What else influences your choices
                                                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                                                  • PPF Assumptions
                                                                                                                                                                  • Slide 121
                                                                                                                                                                  • Production Possibilities Curve
                                                                                                                                                                  • The Choices Nations Make
                                                                                                                                                                  • Economic Growth
                                                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                                                  • Productivity
                                                                                                                                                                  • Locations on a PPF
                                                                                                                                                                  • Slide 128
                                                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                  • Economic Systems
                                                                                                                                                                  • Jigsaw activity
                                                                                                                                                                  • Slide 132
                                                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                                                  • Review of Economic Systems
                                                                                                                                                                  • Slide 135
                                                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                                                  • Which economic system does the US use
                                                                                                                                                                  • The American Economic System
                                                                                                                                                                  • The US mixed economy
                                                                                                                                                                  • Slide 140
                                                                                                                                                                  • Think backhellip
                                                                                                                                                                  • US Economic System Characteristics
                                                                                                                                                                  • Slide 143
                                                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                                                  • Marriage Vows
                                                                                                                                                                  • Do you remember
                                                                                                                                                                  • Slide 147

                                                                                                                                                                    Closure

                                                                                                                                                                    bullExplain two principles of the constitution and how are they connected

                                                                                                                                                                    What is Economics

                                                                                                                                                                    bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                                    Important Parts of Economicsndash

                                                                                                                                                                    CHOICESSCARCITY

                                                                                                                                                                    Economics ishellip

                                                                                                                                                                    bullDependent upon assumptions

                                                                                                                                                                    bullDependent upon simplification of reality

                                                                                                                                                                    Back to our assumptionshellip

                                                                                                                                                                    bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                                    bullAll sellers seek to maximize profits

                                                                                                                                                                    Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                                    For the videohellip

                                                                                                                                                                    bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                                    bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                                    Post Videohellip

                                                                                                                                                                    bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                    Advertisement

                                                                                                                                                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                    3 images that represent different economic ideas

                                                                                                                                                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                    1 slogan that represents why economics is an important course to take

                                                                                                                                                                    Political Cartoon Analysis

                                                                                                                                                                    Factors of Production bull LAND

                                                                                                                                                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                    soil minerals water and plants

                                                                                                                                                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                    into producing goodsservices

                                                                                                                                                                    bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                    technologies

                                                                                                                                                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                    land labor and capital to produce goods and services

                                                                                                                                                                    TASK

                                                                                                                                                                    bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                    bullAnswer in 2-3 sentences

                                                                                                                                                                    The price ofhellip

                                                                                                                                                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                    Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                    1 What to produce

                                                                                                                                                                    bullShould it be military or civilian goods

                                                                                                                                                                    bullFood or clothingbullMedicine or movies

                                                                                                                                                                    2 How to produce it

                                                                                                                                                                    bullAutomated or manual labor

                                                                                                                                                                    bullExpensive or cheap materials

                                                                                                                                                                    bullDomestic or overseas labor

                                                                                                                                                                    3 For whom to produce it

                                                                                                                                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                    Application Activity

                                                                                                                                                                    bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                    bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                    withhellip Images representing what you produce and a

                                                                                                                                                                    slogan for why your country is awesome

                                                                                                                                                                    EQs

                                                                                                                                                                    bullHow does scarcity impact decision making

                                                                                                                                                                    Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                    I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                    I will be able to understand scarcity and our mixed economy

                                                                                                                                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                    Group Activity Budget Activity

                                                                                                                                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                    How do we satisfy our economic wants

                                                                                                                                                                    bull We buy goods or services

                                                                                                                                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                    How do we make goods amp services

                                                                                                                                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                    Production Equation

                                                                                                                                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                    inputs output

                                                                                                                                                                    Economic Interdependence

                                                                                                                                                                    bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                    bullIs our world becoming economic interdependent or independent

                                                                                                                                                                    bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                    country (world) has an impact on what happens elsewhere

                                                                                                                                                                    Wants amp Needs gt

                                                                                                                                                                    Resources

                                                                                                                                                                    Because of scarcity we

                                                                                                                                                                    have to make choices

                                                                                                                                                                    How do we make a choice What do we give up

                                                                                                                                                                    What does this remind you of from our government unit

                                                                                                                                                                    Making Choices to Deal With Scarcity

                                                                                                                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                    decision over another

                                                                                                                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                    school today or should I sleep in

                                                                                                                                                                    Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                    In the end what helped you decide amongst your choices

                                                                                                                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                    tradeoffs for that decision

                                                                                                                                                                    Be prepared to share

                                                                                                                                                                    Opportunity Cost

                                                                                                                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                    we want

                                                                                                                                                                    What else influences your choices

                                                                                                                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                    FinallyhellipWhy it Matters

                                                                                                                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                    better decision-maker

                                                                                                                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                    You always have to give something uphelliprdquo

                                                                                                                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                    decisions

                                                                                                                                                                    Visualizing the Relationshiphellip

                                                                                                                                                                    Limited Resources amp Unlimited Wants

                                                                                                                                                                    Scarcity

                                                                                                                                                                    Trade-offs (choices)

                                                                                                                                                                    Opportunity Costs

                                                                                                                                                                    ObjectivesEssential Questions

                                                                                                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                    the three different types of economies

                                                                                                                                                                    bullEssential Question How do the different types of economies work

                                                                                                                                                                    How Can We Measure What We Gain and Lose When

                                                                                                                                                                    Making Choices

                                                                                                                                                                    Answer With a Production Possibilities Frontier

                                                                                                                                                                    Production Possibilities Frontier

                                                                                                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                    PPF Assumptions

                                                                                                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                    Production Possibilities Curve

                                                                                                                                                                    CD

                                                                                                                                                                    E

                                                                                                                                                                    OU

                                                                                                                                                                    TP

                                                                                                                                                                    UT

                                                                                                                                                                    OF

                                                                                                                                                                    CO

                                                                                                                                                                    NS

                                                                                                                                                                    UM

                                                                                                                                                                    ER

                                                                                                                                                                    GO

                                                                                                                                                                    OD

                                                                                                                                                                    S

                                                                                                                                                                    (un

                                                                                                                                                                    its

                                                                                                                                                                    per

                                                                                                                                                                    yea

                                                                                                                                                                    r)

                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                    A

                                                                                                                                                                    BO

                                                                                                                                                                    XF

                                                                                                                                                                    G

                                                                                                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                    The Choices Nations Make

                                                                                                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                    bullProduce military goods or consumer goods

                                                                                                                                                                    Economic Growth

                                                                                                                                                                    2000 production possibilities

                                                                                                                                                                    1900 production possibilities

                                                                                                                                                                    OU

                                                                                                                                                                    TP

                                                                                                                                                                    UT

                                                                                                                                                                    OF

                                                                                                                                                                    CO

                                                                                                                                                                    NS

                                                                                                                                                                    UM

                                                                                                                                                                    ER

                                                                                                                                                                    GO

                                                                                                                                                                    OD

                                                                                                                                                                    S(u

                                                                                                                                                                    nits

                                                                                                                                                                    per

                                                                                                                                                                    yea

                                                                                                                                                                    r)

                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                    Production possibilities increases with more resources and technology

                                                                                                                                                                    The Classic Guns and Butter example

                                                                                                                                                                    Guns

                                                                                                                                                                    Butter

                                                                                                                                                                    10000 20000 30000 40000 50000

                                                                                                                                                                    1000009500085000

                                                                                                                                                                    70000

                                                                                                                                                                    5000040000

                                                                                                                                                                    BA

                                                                                                                                                                    C

                                                                                                                                                                    D

                                                                                                                                                                    E

                                                                                                                                                                    F

                                                                                                                                                                    At point A all resources are used for butter

                                                                                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                    At point F all resources are used for Guns

                                                                                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                    choices are

                                                                                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                    Locations on a PPF

                                                                                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                    Food

                                                                                                                                                                    Computer

                                                                                                                                                                    4

                                                                                                                                                                    3

                                                                                                                                                                    2

                                                                                                                                                                    1

                                                                                                                                                                    1 2 3 4

                                                                                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                    Unit

                                                                                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                                                                                    additional computers

                                                                                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                    Principle of Increasing Costs

                                                                                                                                                                    As a society produces more of one product the OC of producing

                                                                                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                    Economic Systems

                                                                                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                    Jigsaw activity

                                                                                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                                                                                    bull Economic Freedom

                                                                                                                                                                    bull Economic Efficiency

                                                                                                                                                                    bull Economic Equity

                                                                                                                                                                    bull Economic Security

                                                                                                                                                                    Economic Stability

                                                                                                                                                                    Economic Growth

                                                                                                                                                                    Review of Economic Systems

                                                                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                    What are the most important goals of each economic system

                                                                                                                                                                    bullTraditionalSecurity and

                                                                                                                                                                    StabilitybullCommand

                                                                                                                                                                    Equity and Security

                                                                                                                                                                    bullMARKETEfficiency and

                                                                                                                                                                    Freedom

                                                                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                                                                    Which economic system does the US use

                                                                                                                                                                    The American Economic System

                                                                                                                                                                    bullWe have a mixed market economy

                                                                                                                                                                    COMMAND MARKET

                                                                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                    Think backhellip

                                                                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                    2 Limited government

                                                                                                                                                                    3 Equal opportunity

                                                                                                                                                                    4 Competition

                                                                                                                                                                    5 Profit motive

                                                                                                                                                                    6 Property Rights

                                                                                                                                                                    7 Binding Contracts

                                                                                                                                                                    Understanding how all parts fit together

                                                                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                    Shows interdependence between

                                                                                                                                                                    businesses and individuals

                                                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                    Do you remember

                                                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                    democracy and mixed economy

                                                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                                                    • Slide 3
                                                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                                                    • Slide 6
                                                                                                                                                                    • 2 How about to your life
                                                                                                                                                                    • Slide 8
                                                                                                                                                                    • Slide 9
                                                                                                                                                                    • Slide 10
                                                                                                                                                                    • Slide 11
                                                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                                                    • Individualism
                                                                                                                                                                    • Quote activity
                                                                                                                                                                    • Quote breakdown
                                                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                                                    • Purpose of Government
                                                                                                                                                                    • Slide 20
                                                                                                                                                                    • 3 Theorists
                                                                                                                                                                    • Activity
                                                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                                                    • Groups Block 2
                                                                                                                                                                    • Groups Block 4
                                                                                                                                                                    • Balloon Game
                                                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                                                    • Political Theories
                                                                                                                                                                    • Social Contract
                                                                                                                                                                    • Natural Rights
                                                                                                                                                                    • Democracy
                                                                                                                                                                    • Concepts of Government
                                                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                                                    • Warm Up 7
                                                                                                                                                                    • And after the Constitution
                                                                                                                                                                    • Activity (2)
                                                                                                                                                                    • Picture Activity
                                                                                                                                                                    • Constitutional Convention
                                                                                                                                                                    • Purpose of the Convention
                                                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                    • Your Task
                                                                                                                                                                    • Closure
                                                                                                                                                                    • States agree
                                                                                                                                                                    • Quote
                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                    • 6 Purpose of Government
                                                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                                                    • Principles of Constitution
                                                                                                                                                                    • Activity
                                                                                                                                                                    • Slide 60
                                                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                                                    • Question 1
                                                                                                                                                                    • Question 2
                                                                                                                                                                    • Question 3
                                                                                                                                                                    • Question 4
                                                                                                                                                                    • Question 5
                                                                                                                                                                    • Question 6
                                                                                                                                                                    • Question 7
                                                                                                                                                                    • Question 8
                                                                                                                                                                    • Groups
                                                                                                                                                                    • Separation of Powers
                                                                                                                                                                    • Video
                                                                                                                                                                    • Checks and Balances
                                                                                                                                                                    • Slide 74
                                                                                                                                                                    • Checks and balances
                                                                                                                                                                    • Basic Principles
                                                                                                                                                                    • Self- Worth
                                                                                                                                                                    • Equality
                                                                                                                                                                    • Compromise
                                                                                                                                                                    • Individual Freedom
                                                                                                                                                                    • Write your ownhellip
                                                                                                                                                                    • Slide 82
                                                                                                                                                                    • TED Talk
                                                                                                                                                                    • Closure
                                                                                                                                                                    • What is Economics
                                                                                                                                                                    • Economics ishellip
                                                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                    • For the videohellip
                                                                                                                                                                    • Slide 90
                                                                                                                                                                    • Post Videohellip
                                                                                                                                                                    • Advertisement
                                                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                                                    • Factors of Production
                                                                                                                                                                    • TASK
                                                                                                                                                                    • The price ofhellip
                                                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                    • 1 What to produce
                                                                                                                                                                    • 2 How to produce it
                                                                                                                                                                    • 3 For whom to produce it
                                                                                                                                                                    • Application Activity
                                                                                                                                                                    • EQs
                                                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                                                    • Slide 105
                                                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                                                    • How do we make goods amp services
                                                                                                                                                                    • Economic Interdependence
                                                                                                                                                                    • Slide 109
                                                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                                                    • Exampleshellip
                                                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                    • Opportunity Cost
                                                                                                                                                                    • What else influences your choices
                                                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                                                    • PPF Assumptions
                                                                                                                                                                    • Slide 121
                                                                                                                                                                    • Production Possibilities Curve
                                                                                                                                                                    • The Choices Nations Make
                                                                                                                                                                    • Economic Growth
                                                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                                                    • Productivity
                                                                                                                                                                    • Locations on a PPF
                                                                                                                                                                    • Slide 128
                                                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                    • Economic Systems
                                                                                                                                                                    • Jigsaw activity
                                                                                                                                                                    • Slide 132
                                                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                                                    • Review of Economic Systems
                                                                                                                                                                    • Slide 135
                                                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                                                    • Which economic system does the US use
                                                                                                                                                                    • The American Economic System
                                                                                                                                                                    • The US mixed economy
                                                                                                                                                                    • Slide 140
                                                                                                                                                                    • Think backhellip
                                                                                                                                                                    • US Economic System Characteristics
                                                                                                                                                                    • Slide 143
                                                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                                                    • Marriage Vows
                                                                                                                                                                    • Do you remember
                                                                                                                                                                    • Slide 147

                                                                                                                                                                      What is Economics

                                                                                                                                                                      bull Is the study of how people choose to use their limited resources to satisfy their unlimited wants and needs

                                                                                                                                                                      Important Parts of Economicsndash

                                                                                                                                                                      CHOICESSCARCITY

                                                                                                                                                                      Economics ishellip

                                                                                                                                                                      bullDependent upon assumptions

                                                                                                                                                                      bullDependent upon simplification of reality

                                                                                                                                                                      Back to our assumptionshellip

                                                                                                                                                                      bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                                      bullAll sellers seek to maximize profits

                                                                                                                                                                      Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                                      For the videohellip

                                                                                                                                                                      bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                                      bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                                      Post Videohellip

                                                                                                                                                                      bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                      Advertisement

                                                                                                                                                                      bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                      bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                      3 images that represent different economic ideas

                                                                                                                                                                      2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                      1 slogan that represents why economics is an important course to take

                                                                                                                                                                      Political Cartoon Analysis

                                                                                                                                                                      Factors of Production bull LAND

                                                                                                                                                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                      soil minerals water and plants

                                                                                                                                                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                      into producing goodsservices

                                                                                                                                                                      bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                      technologies

                                                                                                                                                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                      land labor and capital to produce goods and services

                                                                                                                                                                      TASK

                                                                                                                                                                      bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                      bullAnswer in 2-3 sentences

                                                                                                                                                                      The price ofhellip

                                                                                                                                                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                      Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                      1 What to produce

                                                                                                                                                                      bullShould it be military or civilian goods

                                                                                                                                                                      bullFood or clothingbullMedicine or movies

                                                                                                                                                                      2 How to produce it

                                                                                                                                                                      bullAutomated or manual labor

                                                                                                                                                                      bullExpensive or cheap materials

                                                                                                                                                                      bullDomestic or overseas labor

                                                                                                                                                                      3 For whom to produce it

                                                                                                                                                                      bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                      Application Activity

                                                                                                                                                                      bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                      bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                      withhellip Images representing what you produce and a

                                                                                                                                                                      slogan for why your country is awesome

                                                                                                                                                                      EQs

                                                                                                                                                                      bullHow does scarcity impact decision making

                                                                                                                                                                      Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                      I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                      I will be able to understand scarcity and our mixed economy

                                                                                                                                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                      Group Activity Budget Activity

                                                                                                                                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                      How do we satisfy our economic wants

                                                                                                                                                                      bull We buy goods or services

                                                                                                                                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                      How do we make goods amp services

                                                                                                                                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                      Production Equation

                                                                                                                                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                      inputs output

                                                                                                                                                                      Economic Interdependence

                                                                                                                                                                      bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                      bullIs our world becoming economic interdependent or independent

                                                                                                                                                                      bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                      country (world) has an impact on what happens elsewhere

                                                                                                                                                                      Wants amp Needs gt

                                                                                                                                                                      Resources

                                                                                                                                                                      Because of scarcity we

                                                                                                                                                                      have to make choices

                                                                                                                                                                      How do we make a choice What do we give up

                                                                                                                                                                      What does this remind you of from our government unit

                                                                                                                                                                      Making Choices to Deal With Scarcity

                                                                                                                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                      decision over another

                                                                                                                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                      school today or should I sleep in

                                                                                                                                                                      Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                      In the end what helped you decide amongst your choices

                                                                                                                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                      tradeoffs for that decision

                                                                                                                                                                      Be prepared to share

                                                                                                                                                                      Opportunity Cost

                                                                                                                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                      we want

                                                                                                                                                                      What else influences your choices

                                                                                                                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                      FinallyhellipWhy it Matters

                                                                                                                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                      better decision-maker

                                                                                                                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                      You always have to give something uphelliprdquo

                                                                                                                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                      decisions

                                                                                                                                                                      Visualizing the Relationshiphellip

                                                                                                                                                                      Limited Resources amp Unlimited Wants

                                                                                                                                                                      Scarcity

                                                                                                                                                                      Trade-offs (choices)

                                                                                                                                                                      Opportunity Costs

                                                                                                                                                                      ObjectivesEssential Questions

                                                                                                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                      the three different types of economies

                                                                                                                                                                      bullEssential Question How do the different types of economies work

                                                                                                                                                                      How Can We Measure What We Gain and Lose When

                                                                                                                                                                      Making Choices

                                                                                                                                                                      Answer With a Production Possibilities Frontier

                                                                                                                                                                      Production Possibilities Frontier

                                                                                                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                      PPF Assumptions

                                                                                                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                      Production Possibilities Curve

                                                                                                                                                                      CD

                                                                                                                                                                      E

                                                                                                                                                                      OU

                                                                                                                                                                      TP

                                                                                                                                                                      UT

                                                                                                                                                                      OF

                                                                                                                                                                      CO

                                                                                                                                                                      NS

                                                                                                                                                                      UM

                                                                                                                                                                      ER

                                                                                                                                                                      GO

                                                                                                                                                                      OD

                                                                                                                                                                      S

                                                                                                                                                                      (un

                                                                                                                                                                      its

                                                                                                                                                                      per

                                                                                                                                                                      yea

                                                                                                                                                                      r)

                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                      A

                                                                                                                                                                      BO

                                                                                                                                                                      XF

                                                                                                                                                                      G

                                                                                                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                      The Choices Nations Make

                                                                                                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                      bullProduce military goods or consumer goods

                                                                                                                                                                      Economic Growth

                                                                                                                                                                      2000 production possibilities

                                                                                                                                                                      1900 production possibilities

                                                                                                                                                                      OU

                                                                                                                                                                      TP

                                                                                                                                                                      UT

                                                                                                                                                                      OF

                                                                                                                                                                      CO

                                                                                                                                                                      NS

                                                                                                                                                                      UM

                                                                                                                                                                      ER

                                                                                                                                                                      GO

                                                                                                                                                                      OD

                                                                                                                                                                      S(u

                                                                                                                                                                      nits

                                                                                                                                                                      per

                                                                                                                                                                      yea

                                                                                                                                                                      r)

                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                      Production possibilities increases with more resources and technology

                                                                                                                                                                      The Classic Guns and Butter example

                                                                                                                                                                      Guns

                                                                                                                                                                      Butter

                                                                                                                                                                      10000 20000 30000 40000 50000

                                                                                                                                                                      1000009500085000

                                                                                                                                                                      70000

                                                                                                                                                                      5000040000

                                                                                                                                                                      BA

                                                                                                                                                                      C

                                                                                                                                                                      D

                                                                                                                                                                      E

                                                                                                                                                                      F

                                                                                                                                                                      At point A all resources are used for butter

                                                                                                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                      At point F all resources are used for Guns

                                                                                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                      choices are

                                                                                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                      Locations on a PPF

                                                                                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                      Food

                                                                                                                                                                      Computer

                                                                                                                                                                      4

                                                                                                                                                                      3

                                                                                                                                                                      2

                                                                                                                                                                      1

                                                                                                                                                                      1 2 3 4

                                                                                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                      Unit

                                                                                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                                                                                      additional computers

                                                                                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                      Principle of Increasing Costs

                                                                                                                                                                      As a society produces more of one product the OC of producing

                                                                                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                      Economic Systems

                                                                                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                      Jigsaw activity

                                                                                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                                                                                      bull Economic Freedom

                                                                                                                                                                      bull Economic Efficiency

                                                                                                                                                                      bull Economic Equity

                                                                                                                                                                      bull Economic Security

                                                                                                                                                                      Economic Stability

                                                                                                                                                                      Economic Growth

                                                                                                                                                                      Review of Economic Systems

                                                                                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                      What are the most important goals of each economic system

                                                                                                                                                                      bullTraditionalSecurity and

                                                                                                                                                                      StabilitybullCommand

                                                                                                                                                                      Equity and Security

                                                                                                                                                                      bullMARKETEfficiency and

                                                                                                                                                                      Freedom

                                                                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                                                                      Which economic system does the US use

                                                                                                                                                                      The American Economic System

                                                                                                                                                                      bullWe have a mixed market economy

                                                                                                                                                                      COMMAND MARKET

                                                                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                      Think backhellip

                                                                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                      2 Limited government

                                                                                                                                                                      3 Equal opportunity

                                                                                                                                                                      4 Competition

                                                                                                                                                                      5 Profit motive

                                                                                                                                                                      6 Property Rights

                                                                                                                                                                      7 Binding Contracts

                                                                                                                                                                      Understanding how all parts fit together

                                                                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                      Shows interdependence between

                                                                                                                                                                      businesses and individuals

                                                                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                      Do you remember

                                                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                      democracy and mixed economy

                                                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                                                      • Slide 3
                                                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                                                      • Slide 6
                                                                                                                                                                      • 2 How about to your life
                                                                                                                                                                      • Slide 8
                                                                                                                                                                      • Slide 9
                                                                                                                                                                      • Slide 10
                                                                                                                                                                      • Slide 11
                                                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                                                      • Individualism
                                                                                                                                                                      • Quote activity
                                                                                                                                                                      • Quote breakdown
                                                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                                                      • Purpose of Government
                                                                                                                                                                      • Slide 20
                                                                                                                                                                      • 3 Theorists
                                                                                                                                                                      • Activity
                                                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                                                      • Groups Block 2
                                                                                                                                                                      • Groups Block 4
                                                                                                                                                                      • Balloon Game
                                                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                                                      • Political Theories
                                                                                                                                                                      • Social Contract
                                                                                                                                                                      • Natural Rights
                                                                                                                                                                      • Democracy
                                                                                                                                                                      • Concepts of Government
                                                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                                                      • Warm Up 7
                                                                                                                                                                      • And after the Constitution
                                                                                                                                                                      • Activity (2)
                                                                                                                                                                      • Picture Activity
                                                                                                                                                                      • Constitutional Convention
                                                                                                                                                                      • Purpose of the Convention
                                                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                      • Your Task
                                                                                                                                                                      • Closure
                                                                                                                                                                      • States agree
                                                                                                                                                                      • Quote
                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                      • 6 Purpose of Government
                                                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                                                      • Principles of Constitution
                                                                                                                                                                      • Activity
                                                                                                                                                                      • Slide 60
                                                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                                                      • Question 1
                                                                                                                                                                      • Question 2
                                                                                                                                                                      • Question 3
                                                                                                                                                                      • Question 4
                                                                                                                                                                      • Question 5
                                                                                                                                                                      • Question 6
                                                                                                                                                                      • Question 7
                                                                                                                                                                      • Question 8
                                                                                                                                                                      • Groups
                                                                                                                                                                      • Separation of Powers
                                                                                                                                                                      • Video
                                                                                                                                                                      • Checks and Balances
                                                                                                                                                                      • Slide 74
                                                                                                                                                                      • Checks and balances
                                                                                                                                                                      • Basic Principles
                                                                                                                                                                      • Self- Worth
                                                                                                                                                                      • Equality
                                                                                                                                                                      • Compromise
                                                                                                                                                                      • Individual Freedom
                                                                                                                                                                      • Write your ownhellip
                                                                                                                                                                      • Slide 82
                                                                                                                                                                      • TED Talk
                                                                                                                                                                      • Closure
                                                                                                                                                                      • What is Economics
                                                                                                                                                                      • Economics ishellip
                                                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                      • For the videohellip
                                                                                                                                                                      • Slide 90
                                                                                                                                                                      • Post Videohellip
                                                                                                                                                                      • Advertisement
                                                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                                                      • Factors of Production
                                                                                                                                                                      • TASK
                                                                                                                                                                      • The price ofhellip
                                                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                      • 1 What to produce
                                                                                                                                                                      • 2 How to produce it
                                                                                                                                                                      • 3 For whom to produce it
                                                                                                                                                                      • Application Activity
                                                                                                                                                                      • EQs
                                                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                                                      • Slide 105
                                                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                                                      • How do we make goods amp services
                                                                                                                                                                      • Economic Interdependence
                                                                                                                                                                      • Slide 109
                                                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                                                      • Exampleshellip
                                                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                      • Opportunity Cost
                                                                                                                                                                      • What else influences your choices
                                                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                                                      • PPF Assumptions
                                                                                                                                                                      • Slide 121
                                                                                                                                                                      • Production Possibilities Curve
                                                                                                                                                                      • The Choices Nations Make
                                                                                                                                                                      • Economic Growth
                                                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                                                      • Productivity
                                                                                                                                                                      • Locations on a PPF
                                                                                                                                                                      • Slide 128
                                                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                      • Economic Systems
                                                                                                                                                                      • Jigsaw activity
                                                                                                                                                                      • Slide 132
                                                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                                                      • Review of Economic Systems
                                                                                                                                                                      • Slide 135
                                                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                                                      • Which economic system does the US use
                                                                                                                                                                      • The American Economic System
                                                                                                                                                                      • The US mixed economy
                                                                                                                                                                      • Slide 140
                                                                                                                                                                      • Think backhellip
                                                                                                                                                                      • US Economic System Characteristics
                                                                                                                                                                      • Slide 143
                                                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                                                      • Marriage Vows
                                                                                                                                                                      • Do you remember
                                                                                                                                                                      • Slide 147

                                                                                                                                                                        Economics ishellip

                                                                                                                                                                        bullDependent upon assumptions

                                                                                                                                                                        bullDependent upon simplification of reality

                                                                                                                                                                        Back to our assumptionshellip

                                                                                                                                                                        bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                                        bullAll sellers seek to maximize profits

                                                                                                                                                                        Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                                        For the videohellip

                                                                                                                                                                        bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                                        bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                                        Post Videohellip

                                                                                                                                                                        bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                        Advertisement

                                                                                                                                                                        bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                        bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                        3 images that represent different economic ideas

                                                                                                                                                                        2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                        1 slogan that represents why economics is an important course to take

                                                                                                                                                                        Political Cartoon Analysis

                                                                                                                                                                        Factors of Production bull LAND

                                                                                                                                                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                        soil minerals water and plants

                                                                                                                                                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                        into producing goodsservices

                                                                                                                                                                        bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                        technologies

                                                                                                                                                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                        land labor and capital to produce goods and services

                                                                                                                                                                        TASK

                                                                                                                                                                        bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                        bullAnswer in 2-3 sentences

                                                                                                                                                                        The price ofhellip

                                                                                                                                                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                        Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                        1 What to produce

                                                                                                                                                                        bullShould it be military or civilian goods

                                                                                                                                                                        bullFood or clothingbullMedicine or movies

                                                                                                                                                                        2 How to produce it

                                                                                                                                                                        bullAutomated or manual labor

                                                                                                                                                                        bullExpensive or cheap materials

                                                                                                                                                                        bullDomestic or overseas labor

                                                                                                                                                                        3 For whom to produce it

                                                                                                                                                                        bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                        Application Activity

                                                                                                                                                                        bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                        bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                        information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                        answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                        withhellip Images representing what you produce and a

                                                                                                                                                                        slogan for why your country is awesome

                                                                                                                                                                        EQs

                                                                                                                                                                        bullHow does scarcity impact decision making

                                                                                                                                                                        Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                        I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                        I will be able to understand scarcity and our mixed economy

                                                                                                                                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                        Group Activity Budget Activity

                                                                                                                                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                        How do we satisfy our economic wants

                                                                                                                                                                        bull We buy goods or services

                                                                                                                                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                        How do we make goods amp services

                                                                                                                                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                        Production Equation

                                                                                                                                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                        inputs output

                                                                                                                                                                        Economic Interdependence

                                                                                                                                                                        bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                        bullIs our world becoming economic interdependent or independent

                                                                                                                                                                        bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                        country (world) has an impact on what happens elsewhere

                                                                                                                                                                        Wants amp Needs gt

                                                                                                                                                                        Resources

                                                                                                                                                                        Because of scarcity we

                                                                                                                                                                        have to make choices

                                                                                                                                                                        How do we make a choice What do we give up

                                                                                                                                                                        What does this remind you of from our government unit

                                                                                                                                                                        Making Choices to Deal With Scarcity

                                                                                                                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                        decision over another

                                                                                                                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                        school today or should I sleep in

                                                                                                                                                                        Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                        In the end what helped you decide amongst your choices

                                                                                                                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                        tradeoffs for that decision

                                                                                                                                                                        Be prepared to share

                                                                                                                                                                        Opportunity Cost

                                                                                                                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                        we want

                                                                                                                                                                        What else influences your choices

                                                                                                                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                        FinallyhellipWhy it Matters

                                                                                                                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                        better decision-maker

                                                                                                                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                        You always have to give something uphelliprdquo

                                                                                                                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                        decisions

                                                                                                                                                                        Visualizing the Relationshiphellip

                                                                                                                                                                        Limited Resources amp Unlimited Wants

                                                                                                                                                                        Scarcity

                                                                                                                                                                        Trade-offs (choices)

                                                                                                                                                                        Opportunity Costs

                                                                                                                                                                        ObjectivesEssential Questions

                                                                                                                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                        the three different types of economies

                                                                                                                                                                        bullEssential Question How do the different types of economies work

                                                                                                                                                                        How Can We Measure What We Gain and Lose When

                                                                                                                                                                        Making Choices

                                                                                                                                                                        Answer With a Production Possibilities Frontier

                                                                                                                                                                        Production Possibilities Frontier

                                                                                                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                        PPF Assumptions

                                                                                                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                        Production Possibilities Curve

                                                                                                                                                                        CD

                                                                                                                                                                        E

                                                                                                                                                                        OU

                                                                                                                                                                        TP

                                                                                                                                                                        UT

                                                                                                                                                                        OF

                                                                                                                                                                        CO

                                                                                                                                                                        NS

                                                                                                                                                                        UM

                                                                                                                                                                        ER

                                                                                                                                                                        GO

                                                                                                                                                                        OD

                                                                                                                                                                        S

                                                                                                                                                                        (un

                                                                                                                                                                        its

                                                                                                                                                                        per

                                                                                                                                                                        yea

                                                                                                                                                                        r)

                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                        A

                                                                                                                                                                        BO

                                                                                                                                                                        XF

                                                                                                                                                                        G

                                                                                                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                        The Choices Nations Make

                                                                                                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                        bullProduce military goods or consumer goods

                                                                                                                                                                        Economic Growth

                                                                                                                                                                        2000 production possibilities

                                                                                                                                                                        1900 production possibilities

                                                                                                                                                                        OU

                                                                                                                                                                        TP

                                                                                                                                                                        UT

                                                                                                                                                                        OF

                                                                                                                                                                        CO

                                                                                                                                                                        NS

                                                                                                                                                                        UM

                                                                                                                                                                        ER

                                                                                                                                                                        GO

                                                                                                                                                                        OD

                                                                                                                                                                        S(u

                                                                                                                                                                        nits

                                                                                                                                                                        per

                                                                                                                                                                        yea

                                                                                                                                                                        r)

                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                        Production possibilities increases with more resources and technology

                                                                                                                                                                        The Classic Guns and Butter example

                                                                                                                                                                        Guns

                                                                                                                                                                        Butter

                                                                                                                                                                        10000 20000 30000 40000 50000

                                                                                                                                                                        1000009500085000

                                                                                                                                                                        70000

                                                                                                                                                                        5000040000

                                                                                                                                                                        BA

                                                                                                                                                                        C

                                                                                                                                                                        D

                                                                                                                                                                        E

                                                                                                                                                                        F

                                                                                                                                                                        At point A all resources are used for butter

                                                                                                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                        At point F all resources are used for Guns

                                                                                                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                        choices are

                                                                                                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                        Locations on a PPF

                                                                                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                        Food

                                                                                                                                                                        Computer

                                                                                                                                                                        4

                                                                                                                                                                        3

                                                                                                                                                                        2

                                                                                                                                                                        1

                                                                                                                                                                        1 2 3 4

                                                                                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                        Unit

                                                                                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                                                                                        additional computers

                                                                                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                        Principle of Increasing Costs

                                                                                                                                                                        As a society produces more of one product the OC of producing

                                                                                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                        Economic Systems

                                                                                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                        Jigsaw activity

                                                                                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                                                                                        bull Economic Freedom

                                                                                                                                                                        bull Economic Efficiency

                                                                                                                                                                        bull Economic Equity

                                                                                                                                                                        bull Economic Security

                                                                                                                                                                        Economic Stability

                                                                                                                                                                        Economic Growth

                                                                                                                                                                        Review of Economic Systems

                                                                                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                        What are the most important goals of each economic system

                                                                                                                                                                        bullTraditionalSecurity and

                                                                                                                                                                        StabilitybullCommand

                                                                                                                                                                        Equity and Security

                                                                                                                                                                        bullMARKETEfficiency and

                                                                                                                                                                        Freedom

                                                                                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                                                                                        Which economic system does the US use

                                                                                                                                                                        The American Economic System

                                                                                                                                                                        bullWe have a mixed market economy

                                                                                                                                                                        COMMAND MARKET

                                                                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                        Think backhellip

                                                                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                        2 Limited government

                                                                                                                                                                        3 Equal opportunity

                                                                                                                                                                        4 Competition

                                                                                                                                                                        5 Profit motive

                                                                                                                                                                        6 Property Rights

                                                                                                                                                                        7 Binding Contracts

                                                                                                                                                                        Understanding how all parts fit together

                                                                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                        Shows interdependence between

                                                                                                                                                                        businesses and individuals

                                                                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                        Do you remember

                                                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                        democracy and mixed economy

                                                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                                                        • Slide 3
                                                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                                                        • Slide 6
                                                                                                                                                                        • 2 How about to your life
                                                                                                                                                                        • Slide 8
                                                                                                                                                                        • Slide 9
                                                                                                                                                                        • Slide 10
                                                                                                                                                                        • Slide 11
                                                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                                                        • Individualism
                                                                                                                                                                        • Quote activity
                                                                                                                                                                        • Quote breakdown
                                                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                                                        • Purpose of Government
                                                                                                                                                                        • Slide 20
                                                                                                                                                                        • 3 Theorists
                                                                                                                                                                        • Activity
                                                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                                                        • Groups Block 2
                                                                                                                                                                        • Groups Block 4
                                                                                                                                                                        • Balloon Game
                                                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                                                        • Political Theories
                                                                                                                                                                        • Social Contract
                                                                                                                                                                        • Natural Rights
                                                                                                                                                                        • Democracy
                                                                                                                                                                        • Concepts of Government
                                                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                                                        • Warm Up 7
                                                                                                                                                                        • And after the Constitution
                                                                                                                                                                        • Activity (2)
                                                                                                                                                                        • Picture Activity
                                                                                                                                                                        • Constitutional Convention
                                                                                                                                                                        • Purpose of the Convention
                                                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                        • Your Task
                                                                                                                                                                        • Closure
                                                                                                                                                                        • States agree
                                                                                                                                                                        • Quote
                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                        • 6 Purpose of Government
                                                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                                                        • Principles of Constitution
                                                                                                                                                                        • Activity
                                                                                                                                                                        • Slide 60
                                                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                                                        • Question 1
                                                                                                                                                                        • Question 2
                                                                                                                                                                        • Question 3
                                                                                                                                                                        • Question 4
                                                                                                                                                                        • Question 5
                                                                                                                                                                        • Question 6
                                                                                                                                                                        • Question 7
                                                                                                                                                                        • Question 8
                                                                                                                                                                        • Groups
                                                                                                                                                                        • Separation of Powers
                                                                                                                                                                        • Video
                                                                                                                                                                        • Checks and Balances
                                                                                                                                                                        • Slide 74
                                                                                                                                                                        • Checks and balances
                                                                                                                                                                        • Basic Principles
                                                                                                                                                                        • Self- Worth
                                                                                                                                                                        • Equality
                                                                                                                                                                        • Compromise
                                                                                                                                                                        • Individual Freedom
                                                                                                                                                                        • Write your ownhellip
                                                                                                                                                                        • Slide 82
                                                                                                                                                                        • TED Talk
                                                                                                                                                                        • Closure
                                                                                                                                                                        • What is Economics
                                                                                                                                                                        • Economics ishellip
                                                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                        • For the videohellip
                                                                                                                                                                        • Slide 90
                                                                                                                                                                        • Post Videohellip
                                                                                                                                                                        • Advertisement
                                                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                                                        • Factors of Production
                                                                                                                                                                        • TASK
                                                                                                                                                                        • The price ofhellip
                                                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                        • 1 What to produce
                                                                                                                                                                        • 2 How to produce it
                                                                                                                                                                        • 3 For whom to produce it
                                                                                                                                                                        • Application Activity
                                                                                                                                                                        • EQs
                                                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                                                        • Slide 105
                                                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                                                        • How do we make goods amp services
                                                                                                                                                                        • Economic Interdependence
                                                                                                                                                                        • Slide 109
                                                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                                                        • Exampleshellip
                                                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                        • Opportunity Cost
                                                                                                                                                                        • What else influences your choices
                                                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                                                        • PPF Assumptions
                                                                                                                                                                        • Slide 121
                                                                                                                                                                        • Production Possibilities Curve
                                                                                                                                                                        • The Choices Nations Make
                                                                                                                                                                        • Economic Growth
                                                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                                                        • Productivity
                                                                                                                                                                        • Locations on a PPF
                                                                                                                                                                        • Slide 128
                                                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                        • Economic Systems
                                                                                                                                                                        • Jigsaw activity
                                                                                                                                                                        • Slide 132
                                                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                                                        • Review of Economic Systems
                                                                                                                                                                        • Slide 135
                                                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                                                        • Which economic system does the US use
                                                                                                                                                                        • The American Economic System
                                                                                                                                                                        • The US mixed economy
                                                                                                                                                                        • Slide 140
                                                                                                                                                                        • Think backhellip
                                                                                                                                                                        • US Economic System Characteristics
                                                                                                                                                                        • Slide 143
                                                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                                                        • Marriage Vows
                                                                                                                                                                        • Do you remember
                                                                                                                                                                        • Slide 147

                                                                                                                                                                          Back to our assumptionshellip

                                                                                                                                                                          bullHuman Beings are rationalbullAll societies suffer from scarcity bullAll buyers seek to maximize utility

                                                                                                                                                                          bullAll sellers seek to maximize profits

                                                                                                                                                                          Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                                          For the videohellip

                                                                                                                                                                          bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                                          bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                                          Post Videohellip

                                                                                                                                                                          bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                          Advertisement

                                                                                                                                                                          bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                          bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                          3 images that represent different economic ideas

                                                                                                                                                                          2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                          1 slogan that represents why economics is an important course to take

                                                                                                                                                                          Political Cartoon Analysis

                                                                                                                                                                          Factors of Production bull LAND

                                                                                                                                                                          Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                          soil minerals water and plants

                                                                                                                                                                          bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                          into producing goodsservices

                                                                                                                                                                          bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                          technologies

                                                                                                                                                                          bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                          land labor and capital to produce goods and services

                                                                                                                                                                          TASK

                                                                                                                                                                          bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                          bullAnswer in 2-3 sentences

                                                                                                                                                                          The price ofhellip

                                                                                                                                                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                          Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                          1 What to produce

                                                                                                                                                                          bullShould it be military or civilian goods

                                                                                                                                                                          bullFood or clothingbullMedicine or movies

                                                                                                                                                                          2 How to produce it

                                                                                                                                                                          bullAutomated or manual labor

                                                                                                                                                                          bullExpensive or cheap materials

                                                                                                                                                                          bullDomestic or overseas labor

                                                                                                                                                                          3 For whom to produce it

                                                                                                                                                                          bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                          Application Activity

                                                                                                                                                                          bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                          bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                          information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                          answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                          withhellip Images representing what you produce and a

                                                                                                                                                                          slogan for why your country is awesome

                                                                                                                                                                          EQs

                                                                                                                                                                          bullHow does scarcity impact decision making

                                                                                                                                                                          Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                          I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                          I will be able to understand scarcity and our mixed economy

                                                                                                                                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                          Group Activity Budget Activity

                                                                                                                                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                          How do we satisfy our economic wants

                                                                                                                                                                          bull We buy goods or services

                                                                                                                                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                          How do we make goods amp services

                                                                                                                                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                          Production Equation

                                                                                                                                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                          inputs output

                                                                                                                                                                          Economic Interdependence

                                                                                                                                                                          bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                          bullIs our world becoming economic interdependent or independent

                                                                                                                                                                          bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                          country (world) has an impact on what happens elsewhere

                                                                                                                                                                          Wants amp Needs gt

                                                                                                                                                                          Resources

                                                                                                                                                                          Because of scarcity we

                                                                                                                                                                          have to make choices

                                                                                                                                                                          How do we make a choice What do we give up

                                                                                                                                                                          What does this remind you of from our government unit

                                                                                                                                                                          Making Choices to Deal With Scarcity

                                                                                                                                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                          decision over another

                                                                                                                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                          school today or should I sleep in

                                                                                                                                                                          Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                          In the end what helped you decide amongst your choices

                                                                                                                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                          tradeoffs for that decision

                                                                                                                                                                          Be prepared to share

                                                                                                                                                                          Opportunity Cost

                                                                                                                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                          we want

                                                                                                                                                                          What else influences your choices

                                                                                                                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                          FinallyhellipWhy it Matters

                                                                                                                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                          better decision-maker

                                                                                                                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                          You always have to give something uphelliprdquo

                                                                                                                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                          decisions

                                                                                                                                                                          Visualizing the Relationshiphellip

                                                                                                                                                                          Limited Resources amp Unlimited Wants

                                                                                                                                                                          Scarcity

                                                                                                                                                                          Trade-offs (choices)

                                                                                                                                                                          Opportunity Costs

                                                                                                                                                                          ObjectivesEssential Questions

                                                                                                                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                          the three different types of economies

                                                                                                                                                                          bullEssential Question How do the different types of economies work

                                                                                                                                                                          How Can We Measure What We Gain and Lose When

                                                                                                                                                                          Making Choices

                                                                                                                                                                          Answer With a Production Possibilities Frontier

                                                                                                                                                                          Production Possibilities Frontier

                                                                                                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                          PPF Assumptions

                                                                                                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                          Production Possibilities Curve

                                                                                                                                                                          CD

                                                                                                                                                                          E

                                                                                                                                                                          OU

                                                                                                                                                                          TP

                                                                                                                                                                          UT

                                                                                                                                                                          OF

                                                                                                                                                                          CO

                                                                                                                                                                          NS

                                                                                                                                                                          UM

                                                                                                                                                                          ER

                                                                                                                                                                          GO

                                                                                                                                                                          OD

                                                                                                                                                                          S

                                                                                                                                                                          (un

                                                                                                                                                                          its

                                                                                                                                                                          per

                                                                                                                                                                          yea

                                                                                                                                                                          r)

                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                          A

                                                                                                                                                                          BO

                                                                                                                                                                          XF

                                                                                                                                                                          G

                                                                                                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                          The Choices Nations Make

                                                                                                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                          bullProduce military goods or consumer goods

                                                                                                                                                                          Economic Growth

                                                                                                                                                                          2000 production possibilities

                                                                                                                                                                          1900 production possibilities

                                                                                                                                                                          OU

                                                                                                                                                                          TP

                                                                                                                                                                          UT

                                                                                                                                                                          OF

                                                                                                                                                                          CO

                                                                                                                                                                          NS

                                                                                                                                                                          UM

                                                                                                                                                                          ER

                                                                                                                                                                          GO

                                                                                                                                                                          OD

                                                                                                                                                                          S(u

                                                                                                                                                                          nits

                                                                                                                                                                          per

                                                                                                                                                                          yea

                                                                                                                                                                          r)

                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                          Production possibilities increases with more resources and technology

                                                                                                                                                                          The Classic Guns and Butter example

                                                                                                                                                                          Guns

                                                                                                                                                                          Butter

                                                                                                                                                                          10000 20000 30000 40000 50000

                                                                                                                                                                          1000009500085000

                                                                                                                                                                          70000

                                                                                                                                                                          5000040000

                                                                                                                                                                          BA

                                                                                                                                                                          C

                                                                                                                                                                          D

                                                                                                                                                                          E

                                                                                                                                                                          F

                                                                                                                                                                          At point A all resources are used for butter

                                                                                                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                          At point F all resources are used for Guns

                                                                                                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                          choices are

                                                                                                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                          Locations on a PPF

                                                                                                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                          Food

                                                                                                                                                                          Computer

                                                                                                                                                                          4

                                                                                                                                                                          3

                                                                                                                                                                          2

                                                                                                                                                                          1

                                                                                                                                                                          1 2 3 4

                                                                                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                          Unit

                                                                                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                                                                                          additional computers

                                                                                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                          Principle of Increasing Costs

                                                                                                                                                                          As a society produces more of one product the OC of producing

                                                                                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                          Economic Systems

                                                                                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                          Jigsaw activity

                                                                                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                                                                                          bull Economic Freedom

                                                                                                                                                                          bull Economic Efficiency

                                                                                                                                                                          bull Economic Equity

                                                                                                                                                                          bull Economic Security

                                                                                                                                                                          Economic Stability

                                                                                                                                                                          Economic Growth

                                                                                                                                                                          Review of Economic Systems

                                                                                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                          What are the most important goals of each economic system

                                                                                                                                                                          bullTraditionalSecurity and

                                                                                                                                                                          StabilitybullCommand

                                                                                                                                                                          Equity and Security

                                                                                                                                                                          bullMARKETEfficiency and

                                                                                                                                                                          Freedom

                                                                                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                                                                                          Which economic system does the US use

                                                                                                                                                                          The American Economic System

                                                                                                                                                                          bullWe have a mixed market economy

                                                                                                                                                                          COMMAND MARKET

                                                                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                          Think backhellip

                                                                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                          2 Limited government

                                                                                                                                                                          3 Equal opportunity

                                                                                                                                                                          4 Competition

                                                                                                                                                                          5 Profit motive

                                                                                                                                                                          6 Property Rights

                                                                                                                                                                          7 Binding Contracts

                                                                                                                                                                          Understanding how all parts fit together

                                                                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                          Shows interdependence between

                                                                                                                                                                          businesses and individuals

                                                                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                          Do you remember

                                                                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                          democracy and mixed economy

                                                                                                                                                                          • Foundations of Government and Economics
                                                                                                                                                                          • On your blank piece of paperhellip
                                                                                                                                                                          • Slide 3
                                                                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                                                                          • Introductory thoughts hellip
                                                                                                                                                                          • Slide 6
                                                                                                                                                                          • 2 How about to your life
                                                                                                                                                                          • Slide 8
                                                                                                                                                                          • Slide 9
                                                                                                                                                                          • Slide 10
                                                                                                                                                                          • Slide 11
                                                                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                                                                          • Economist and Politician Assumptions
                                                                                                                                                                          • Individualism
                                                                                                                                                                          • Quote activity
                                                                                                                                                                          • Quote breakdown
                                                                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                                                                          • Purpose of Government
                                                                                                                                                                          • Slide 20
                                                                                                                                                                          • 3 Theorists
                                                                                                                                                                          • Activity
                                                                                                                                                                          • Origins of American Government A customized government
                                                                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                                                                          • With which theory do you agree more Why
                                                                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                                                                          • Groups Block 2
                                                                                                                                                                          • Groups Block 4
                                                                                                                                                                          • Balloon Game
                                                                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                          • Balloon Game Debriefing
                                                                                                                                                                          • Political Theories
                                                                                                                                                                          • Social Contract
                                                                                                                                                                          • Natural Rights
                                                                                                                                                                          • Democracy
                                                                                                                                                                          • Concepts of Government
                                                                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                                                                          • Warm Up 7
                                                                                                                                                                          • And after the Constitution
                                                                                                                                                                          • Activity (2)
                                                                                                                                                                          • Picture Activity
                                                                                                                                                                          • Constitutional Convention
                                                                                                                                                                          • Purpose of the Convention
                                                                                                                                                                          • VA Plan v NJ Plan
                                                                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                          • Your Task
                                                                                                                                                                          • Closure
                                                                                                                                                                          • States agree
                                                                                                                                                                          • Quote
                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                          • 6 Purpose of Government
                                                                                                                                                                          • Structure of Constitution (2)
                                                                                                                                                                          • Structure of Constitution (3)
                                                                                                                                                                          • Principles of Constitution
                                                                                                                                                                          • Activity
                                                                                                                                                                          • Slide 60
                                                                                                                                                                          • Check for Understanding Six Principles
                                                                                                                                                                          • Question 1
                                                                                                                                                                          • Question 2
                                                                                                                                                                          • Question 3
                                                                                                                                                                          • Question 4
                                                                                                                                                                          • Question 5
                                                                                                                                                                          • Question 6
                                                                                                                                                                          • Question 7
                                                                                                                                                                          • Question 8
                                                                                                                                                                          • Groups
                                                                                                                                                                          • Separation of Powers
                                                                                                                                                                          • Video
                                                                                                                                                                          • Checks and Balances
                                                                                                                                                                          • Slide 74
                                                                                                                                                                          • Checks and balances
                                                                                                                                                                          • Basic Principles
                                                                                                                                                                          • Self- Worth
                                                                                                                                                                          • Equality
                                                                                                                                                                          • Compromise
                                                                                                                                                                          • Individual Freedom
                                                                                                                                                                          • Write your ownhellip
                                                                                                                                                                          • Slide 82
                                                                                                                                                                          • TED Talk
                                                                                                                                                                          • Closure
                                                                                                                                                                          • What is Economics
                                                                                                                                                                          • Economics ishellip
                                                                                                                                                                          • Back to our assumptionshellip
                                                                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                          • For the videohellip
                                                                                                                                                                          • Slide 90
                                                                                                                                                                          • Post Videohellip
                                                                                                                                                                          • Advertisement
                                                                                                                                                                          • Political Cartoon Analysis
                                                                                                                                                                          • Factors of Production
                                                                                                                                                                          • TASK
                                                                                                                                                                          • The price ofhellip
                                                                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                          • 1 What to produce
                                                                                                                                                                          • 2 How to produce it
                                                                                                                                                                          • 3 For whom to produce it
                                                                                                                                                                          • Application Activity
                                                                                                                                                                          • EQs
                                                                                                                                                                          • Objectives amp Essential Questions
                                                                                                                                                                          • Group Activity Budget Activity
                                                                                                                                                                          • Slide 105
                                                                                                                                                                          • How do we satisfy our economic wants
                                                                                                                                                                          • How do we make goods amp services
                                                                                                                                                                          • Economic Interdependence
                                                                                                                                                                          • Slide 109
                                                                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                                                                          • Exampleshellip
                                                                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                          • Opportunity Cost
                                                                                                                                                                          • What else influences your choices
                                                                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                                                                          • ObjectivesEssential Questions
                                                                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                          • Production Possibilities Frontier
                                                                                                                                                                          • PPF Assumptions
                                                                                                                                                                          • Slide 121
                                                                                                                                                                          • Production Possibilities Curve
                                                                                                                                                                          • The Choices Nations Make
                                                                                                                                                                          • Economic Growth
                                                                                                                                                                          • The Classic Guns and Butter example
                                                                                                                                                                          • Productivity
                                                                                                                                                                          • Locations on a PPF
                                                                                                                                                                          • Slide 128
                                                                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                          • Economic Systems
                                                                                                                                                                          • Jigsaw activity
                                                                                                                                                                          • Slide 132
                                                                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                                                                          • Review of Economic Systems
                                                                                                                                                                          • Slide 135
                                                                                                                                                                          • What are the most important goals of each economic system
                                                                                                                                                                          • Which economic system does the US use
                                                                                                                                                                          • The American Economic System
                                                                                                                                                                          • The US mixed economy
                                                                                                                                                                          • Slide 140
                                                                                                                                                                          • Think backhellip
                                                                                                                                                                          • US Economic System Characteristics
                                                                                                                                                                          • Slide 143
                                                                                                                                                                          • Understanding how all parts fit together
                                                                                                                                                                          • Marriage Vows
                                                                                                                                                                          • Do you remember
                                                                                                                                                                          • Slide 147

                                                                                                                                                                            Scarcity refers to the limited number of resources (factors of production) that can be used to satisfy the unlimited human wants and needs

                                                                                                                                                                            For the videohellip

                                                                                                                                                                            bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                                            bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                                            Post Videohellip

                                                                                                                                                                            bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                            Advertisement

                                                                                                                                                                            bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                            bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                            3 images that represent different economic ideas

                                                                                                                                                                            2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                            1 slogan that represents why economics is an important course to take

                                                                                                                                                                            Political Cartoon Analysis

                                                                                                                                                                            Factors of Production bull LAND

                                                                                                                                                                            Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                            soil minerals water and plants

                                                                                                                                                                            bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                            into producing goodsservices

                                                                                                                                                                            bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                            technologies

                                                                                                                                                                            bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                            land labor and capital to produce goods and services

                                                                                                                                                                            TASK

                                                                                                                                                                            bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                            bullAnswer in 2-3 sentences

                                                                                                                                                                            The price ofhellip

                                                                                                                                                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                            Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                            1 What to produce

                                                                                                                                                                            bullShould it be military or civilian goods

                                                                                                                                                                            bullFood or clothingbullMedicine or movies

                                                                                                                                                                            2 How to produce it

                                                                                                                                                                            bullAutomated or manual labor

                                                                                                                                                                            bullExpensive or cheap materials

                                                                                                                                                                            bullDomestic or overseas labor

                                                                                                                                                                            3 For whom to produce it

                                                                                                                                                                            bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                            Application Activity

                                                                                                                                                                            bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                            bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                            information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                            answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                            withhellip Images representing what you produce and a

                                                                                                                                                                            slogan for why your country is awesome

                                                                                                                                                                            EQs

                                                                                                                                                                            bullHow does scarcity impact decision making

                                                                                                                                                                            Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                            I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                            I will be able to understand scarcity and our mixed economy

                                                                                                                                                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                            Group Activity Budget Activity

                                                                                                                                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                            How do we satisfy our economic wants

                                                                                                                                                                            bull We buy goods or services

                                                                                                                                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                            How do we make goods amp services

                                                                                                                                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                            Production Equation

                                                                                                                                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                            inputs output

                                                                                                                                                                            Economic Interdependence

                                                                                                                                                                            bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                            bullIs our world becoming economic interdependent or independent

                                                                                                                                                                            bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                            country (world) has an impact on what happens elsewhere

                                                                                                                                                                            Wants amp Needs gt

                                                                                                                                                                            Resources

                                                                                                                                                                            Because of scarcity we

                                                                                                                                                                            have to make choices

                                                                                                                                                                            How do we make a choice What do we give up

                                                                                                                                                                            What does this remind you of from our government unit

                                                                                                                                                                            Making Choices to Deal With Scarcity

                                                                                                                                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                            decision over another

                                                                                                                                                                            ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                            school today or should I sleep in

                                                                                                                                                                            Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                            In the end what helped you decide amongst your choices

                                                                                                                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                            tradeoffs for that decision

                                                                                                                                                                            Be prepared to share

                                                                                                                                                                            Opportunity Cost

                                                                                                                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                            we want

                                                                                                                                                                            What else influences your choices

                                                                                                                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                            FinallyhellipWhy it Matters

                                                                                                                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                            better decision-maker

                                                                                                                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                            You always have to give something uphelliprdquo

                                                                                                                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                            decisions

                                                                                                                                                                            Visualizing the Relationshiphellip

                                                                                                                                                                            Limited Resources amp Unlimited Wants

                                                                                                                                                                            Scarcity

                                                                                                                                                                            Trade-offs (choices)

                                                                                                                                                                            Opportunity Costs

                                                                                                                                                                            ObjectivesEssential Questions

                                                                                                                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                            the three different types of economies

                                                                                                                                                                            bullEssential Question How do the different types of economies work

                                                                                                                                                                            How Can We Measure What We Gain and Lose When

                                                                                                                                                                            Making Choices

                                                                                                                                                                            Answer With a Production Possibilities Frontier

                                                                                                                                                                            Production Possibilities Frontier

                                                                                                                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                            PPF Assumptions

                                                                                                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                            Production Possibilities Curve

                                                                                                                                                                            CD

                                                                                                                                                                            E

                                                                                                                                                                            OU

                                                                                                                                                                            TP

                                                                                                                                                                            UT

                                                                                                                                                                            OF

                                                                                                                                                                            CO

                                                                                                                                                                            NS

                                                                                                                                                                            UM

                                                                                                                                                                            ER

                                                                                                                                                                            GO

                                                                                                                                                                            OD

                                                                                                                                                                            S

                                                                                                                                                                            (un

                                                                                                                                                                            its

                                                                                                                                                                            per

                                                                                                                                                                            yea

                                                                                                                                                                            r)

                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                            A

                                                                                                                                                                            BO

                                                                                                                                                                            XF

                                                                                                                                                                            G

                                                                                                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                            The Choices Nations Make

                                                                                                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                            bullProduce military goods or consumer goods

                                                                                                                                                                            Economic Growth

                                                                                                                                                                            2000 production possibilities

                                                                                                                                                                            1900 production possibilities

                                                                                                                                                                            OU

                                                                                                                                                                            TP

                                                                                                                                                                            UT

                                                                                                                                                                            OF

                                                                                                                                                                            CO

                                                                                                                                                                            NS

                                                                                                                                                                            UM

                                                                                                                                                                            ER

                                                                                                                                                                            GO

                                                                                                                                                                            OD

                                                                                                                                                                            S(u

                                                                                                                                                                            nits

                                                                                                                                                                            per

                                                                                                                                                                            yea

                                                                                                                                                                            r)

                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                            Production possibilities increases with more resources and technology

                                                                                                                                                                            The Classic Guns and Butter example

                                                                                                                                                                            Guns

                                                                                                                                                                            Butter

                                                                                                                                                                            10000 20000 30000 40000 50000

                                                                                                                                                                            1000009500085000

                                                                                                                                                                            70000

                                                                                                                                                                            5000040000

                                                                                                                                                                            BA

                                                                                                                                                                            C

                                                                                                                                                                            D

                                                                                                                                                                            E

                                                                                                                                                                            F

                                                                                                                                                                            At point A all resources are used for butter

                                                                                                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                            At point F all resources are used for Guns

                                                                                                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                            choices are

                                                                                                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                            Locations on a PPF

                                                                                                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                            Food

                                                                                                                                                                            Computer

                                                                                                                                                                            4

                                                                                                                                                                            3

                                                                                                                                                                            2

                                                                                                                                                                            1

                                                                                                                                                                            1 2 3 4

                                                                                                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                            Unit

                                                                                                                                                                            Constantly giving up the same quantity of food to get

                                                                                                                                                                            additional computers

                                                                                                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                            Principle of Increasing Costs

                                                                                                                                                                            As a society produces more of one product the OC of producing

                                                                                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                            Economic Systems

                                                                                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                            Jigsaw activity

                                                                                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                                                                                            bull Economic Freedom

                                                                                                                                                                            bull Economic Efficiency

                                                                                                                                                                            bull Economic Equity

                                                                                                                                                                            bull Economic Security

                                                                                                                                                                            Economic Stability

                                                                                                                                                                            Economic Growth

                                                                                                                                                                            Review of Economic Systems

                                                                                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                            What are the most important goals of each economic system

                                                                                                                                                                            bullTraditionalSecurity and

                                                                                                                                                                            StabilitybullCommand

                                                                                                                                                                            Equity and Security

                                                                                                                                                                            bullMARKETEfficiency and

                                                                                                                                                                            Freedom

                                                                                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                                                                                            Which economic system does the US use

                                                                                                                                                                            The American Economic System

                                                                                                                                                                            bullWe have a mixed market economy

                                                                                                                                                                            COMMAND MARKET

                                                                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                            Think backhellip

                                                                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                            2 Limited government

                                                                                                                                                                            3 Equal opportunity

                                                                                                                                                                            4 Competition

                                                                                                                                                                            5 Profit motive

                                                                                                                                                                            6 Property Rights

                                                                                                                                                                            7 Binding Contracts

                                                                                                                                                                            Understanding how all parts fit together

                                                                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                            Shows interdependence between

                                                                                                                                                                            businesses and individuals

                                                                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                            Do you remember

                                                                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                            democracy and mixed economy

                                                                                                                                                                            • Foundations of Government and Economics
                                                                                                                                                                            • On your blank piece of paperhellip
                                                                                                                                                                            • Slide 3
                                                                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                                                                            • Introductory thoughts hellip
                                                                                                                                                                            • Slide 6
                                                                                                                                                                            • 2 How about to your life
                                                                                                                                                                            • Slide 8
                                                                                                                                                                            • Slide 9
                                                                                                                                                                            • Slide 10
                                                                                                                                                                            • Slide 11
                                                                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                                                                            • Economist and Politician Assumptions
                                                                                                                                                                            • Individualism
                                                                                                                                                                            • Quote activity
                                                                                                                                                                            • Quote breakdown
                                                                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                                                                            • Purpose of Government
                                                                                                                                                                            • Slide 20
                                                                                                                                                                            • 3 Theorists
                                                                                                                                                                            • Activity
                                                                                                                                                                            • Origins of American Government A customized government
                                                                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                                                                            • With which theory do you agree more Why
                                                                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                                                                            • Groups Block 2
                                                                                                                                                                            • Groups Block 4
                                                                                                                                                                            • Balloon Game
                                                                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                            • Balloon Game Debriefing
                                                                                                                                                                            • Political Theories
                                                                                                                                                                            • Social Contract
                                                                                                                                                                            • Natural Rights
                                                                                                                                                                            • Democracy
                                                                                                                                                                            • Concepts of Government
                                                                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                                                                            • Warm Up 7
                                                                                                                                                                            • And after the Constitution
                                                                                                                                                                            • Activity (2)
                                                                                                                                                                            • Picture Activity
                                                                                                                                                                            • Constitutional Convention
                                                                                                                                                                            • Purpose of the Convention
                                                                                                                                                                            • VA Plan v NJ Plan
                                                                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                            • Your Task
                                                                                                                                                                            • Closure
                                                                                                                                                                            • States agree
                                                                                                                                                                            • Quote
                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                            • 6 Purpose of Government
                                                                                                                                                                            • Structure of Constitution (2)
                                                                                                                                                                            • Structure of Constitution (3)
                                                                                                                                                                            • Principles of Constitution
                                                                                                                                                                            • Activity
                                                                                                                                                                            • Slide 60
                                                                                                                                                                            • Check for Understanding Six Principles
                                                                                                                                                                            • Question 1
                                                                                                                                                                            • Question 2
                                                                                                                                                                            • Question 3
                                                                                                                                                                            • Question 4
                                                                                                                                                                            • Question 5
                                                                                                                                                                            • Question 6
                                                                                                                                                                            • Question 7
                                                                                                                                                                            • Question 8
                                                                                                                                                                            • Groups
                                                                                                                                                                            • Separation of Powers
                                                                                                                                                                            • Video
                                                                                                                                                                            • Checks and Balances
                                                                                                                                                                            • Slide 74
                                                                                                                                                                            • Checks and balances
                                                                                                                                                                            • Basic Principles
                                                                                                                                                                            • Self- Worth
                                                                                                                                                                            • Equality
                                                                                                                                                                            • Compromise
                                                                                                                                                                            • Individual Freedom
                                                                                                                                                                            • Write your ownhellip
                                                                                                                                                                            • Slide 82
                                                                                                                                                                            • TED Talk
                                                                                                                                                                            • Closure
                                                                                                                                                                            • What is Economics
                                                                                                                                                                            • Economics ishellip
                                                                                                                                                                            • Back to our assumptionshellip
                                                                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                            • For the videohellip
                                                                                                                                                                            • Slide 90
                                                                                                                                                                            • Post Videohellip
                                                                                                                                                                            • Advertisement
                                                                                                                                                                            • Political Cartoon Analysis
                                                                                                                                                                            • Factors of Production
                                                                                                                                                                            • TASK
                                                                                                                                                                            • The price ofhellip
                                                                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                            • 1 What to produce
                                                                                                                                                                            • 2 How to produce it
                                                                                                                                                                            • 3 For whom to produce it
                                                                                                                                                                            • Application Activity
                                                                                                                                                                            • EQs
                                                                                                                                                                            • Objectives amp Essential Questions
                                                                                                                                                                            • Group Activity Budget Activity
                                                                                                                                                                            • Slide 105
                                                                                                                                                                            • How do we satisfy our economic wants
                                                                                                                                                                            • How do we make goods amp services
                                                                                                                                                                            • Economic Interdependence
                                                                                                                                                                            • Slide 109
                                                                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                                                                            • Exampleshellip
                                                                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                            • Opportunity Cost
                                                                                                                                                                            • What else influences your choices
                                                                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                                                                            • ObjectivesEssential Questions
                                                                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                            • Production Possibilities Frontier
                                                                                                                                                                            • PPF Assumptions
                                                                                                                                                                            • Slide 121
                                                                                                                                                                            • Production Possibilities Curve
                                                                                                                                                                            • The Choices Nations Make
                                                                                                                                                                            • Economic Growth
                                                                                                                                                                            • The Classic Guns and Butter example
                                                                                                                                                                            • Productivity
                                                                                                                                                                            • Locations on a PPF
                                                                                                                                                                            • Slide 128
                                                                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                            • Economic Systems
                                                                                                                                                                            • Jigsaw activity
                                                                                                                                                                            • Slide 132
                                                                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                                                                            • Review of Economic Systems
                                                                                                                                                                            • Slide 135
                                                                                                                                                                            • What are the most important goals of each economic system
                                                                                                                                                                            • Which economic system does the US use
                                                                                                                                                                            • The American Economic System
                                                                                                                                                                            • The US mixed economy
                                                                                                                                                                            • Slide 140
                                                                                                                                                                            • Think backhellip
                                                                                                                                                                            • US Economic System Characteristics
                                                                                                                                                                            • Slide 143
                                                                                                                                                                            • Understanding how all parts fit together
                                                                                                                                                                            • Marriage Vows
                                                                                                                                                                            • Do you remember
                                                                                                                                                                            • Slide 147

                                                                                                                                                                              For the videohellip

                                                                                                                                                                              bullWrite down 3 things you did not knowbullWrite down 3 things you did know

                                                                                                                                                                              bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                                              Post Videohellip

                                                                                                                                                                              bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                              Advertisement

                                                                                                                                                                              bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                              bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                              3 images that represent different economic ideas

                                                                                                                                                                              2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                              1 slogan that represents why economics is an important course to take

                                                                                                                                                                              Political Cartoon Analysis

                                                                                                                                                                              Factors of Production bull LAND

                                                                                                                                                                              Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                              soil minerals water and plants

                                                                                                                                                                              bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                              into producing goodsservices

                                                                                                                                                                              bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                              technologies

                                                                                                                                                                              bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                              land labor and capital to produce goods and services

                                                                                                                                                                              TASK

                                                                                                                                                                              bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                              bullAnswer in 2-3 sentences

                                                                                                                                                                              The price ofhellip

                                                                                                                                                                              bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                              Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                              1 What to produce

                                                                                                                                                                              bullShould it be military or civilian goods

                                                                                                                                                                              bullFood or clothingbullMedicine or movies

                                                                                                                                                                              2 How to produce it

                                                                                                                                                                              bullAutomated or manual labor

                                                                                                                                                                              bullExpensive or cheap materials

                                                                                                                                                                              bullDomestic or overseas labor

                                                                                                                                                                              3 For whom to produce it

                                                                                                                                                                              bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                              Application Activity

                                                                                                                                                                              bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                              bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                              information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                              answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                              withhellip Images representing what you produce and a

                                                                                                                                                                              slogan for why your country is awesome

                                                                                                                                                                              EQs

                                                                                                                                                                              bullHow does scarcity impact decision making

                                                                                                                                                                              Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                              I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                              I will be able to understand scarcity and our mixed economy

                                                                                                                                                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                              Group Activity Budget Activity

                                                                                                                                                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                              How do we satisfy our economic wants

                                                                                                                                                                              bull We buy goods or services

                                                                                                                                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                              How do we make goods amp services

                                                                                                                                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                              Production Equation

                                                                                                                                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                              inputs output

                                                                                                                                                                              Economic Interdependence

                                                                                                                                                                              bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                              bullIs our world becoming economic interdependent or independent

                                                                                                                                                                              bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                              country (world) has an impact on what happens elsewhere

                                                                                                                                                                              Wants amp Needs gt

                                                                                                                                                                              Resources

                                                                                                                                                                              Because of scarcity we

                                                                                                                                                                              have to make choices

                                                                                                                                                                              How do we make a choice What do we give up

                                                                                                                                                                              What does this remind you of from our government unit

                                                                                                                                                                              Making Choices to Deal With Scarcity

                                                                                                                                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                              decision over another

                                                                                                                                                                              ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                              school today or should I sleep in

                                                                                                                                                                              Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                              In the end what helped you decide amongst your choices

                                                                                                                                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                              tradeoffs for that decision

                                                                                                                                                                              Be prepared to share

                                                                                                                                                                              Opportunity Cost

                                                                                                                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                              we want

                                                                                                                                                                              What else influences your choices

                                                                                                                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                              FinallyhellipWhy it Matters

                                                                                                                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                              better decision-maker

                                                                                                                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                              You always have to give something uphelliprdquo

                                                                                                                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                              decisions

                                                                                                                                                                              Visualizing the Relationshiphellip

                                                                                                                                                                              Limited Resources amp Unlimited Wants

                                                                                                                                                                              Scarcity

                                                                                                                                                                              Trade-offs (choices)

                                                                                                                                                                              Opportunity Costs

                                                                                                                                                                              ObjectivesEssential Questions

                                                                                                                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                              the three different types of economies

                                                                                                                                                                              bullEssential Question How do the different types of economies work

                                                                                                                                                                              How Can We Measure What We Gain and Lose When

                                                                                                                                                                              Making Choices

                                                                                                                                                                              Answer With a Production Possibilities Frontier

                                                                                                                                                                              Production Possibilities Frontier

                                                                                                                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                              PPF Assumptions

                                                                                                                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                              Production Possibilities Curve

                                                                                                                                                                              CD

                                                                                                                                                                              E

                                                                                                                                                                              OU

                                                                                                                                                                              TP

                                                                                                                                                                              UT

                                                                                                                                                                              OF

                                                                                                                                                                              CO

                                                                                                                                                                              NS

                                                                                                                                                                              UM

                                                                                                                                                                              ER

                                                                                                                                                                              GO

                                                                                                                                                                              OD

                                                                                                                                                                              S

                                                                                                                                                                              (un

                                                                                                                                                                              its

                                                                                                                                                                              per

                                                                                                                                                                              yea

                                                                                                                                                                              r)

                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                              A

                                                                                                                                                                              BO

                                                                                                                                                                              XF

                                                                                                                                                                              G

                                                                                                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                              The Choices Nations Make

                                                                                                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                              bullProduce military goods or consumer goods

                                                                                                                                                                              Economic Growth

                                                                                                                                                                              2000 production possibilities

                                                                                                                                                                              1900 production possibilities

                                                                                                                                                                              OU

                                                                                                                                                                              TP

                                                                                                                                                                              UT

                                                                                                                                                                              OF

                                                                                                                                                                              CO

                                                                                                                                                                              NS

                                                                                                                                                                              UM

                                                                                                                                                                              ER

                                                                                                                                                                              GO

                                                                                                                                                                              OD

                                                                                                                                                                              S(u

                                                                                                                                                                              nits

                                                                                                                                                                              per

                                                                                                                                                                              yea

                                                                                                                                                                              r)

                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                              Production possibilities increases with more resources and technology

                                                                                                                                                                              The Classic Guns and Butter example

                                                                                                                                                                              Guns

                                                                                                                                                                              Butter

                                                                                                                                                                              10000 20000 30000 40000 50000

                                                                                                                                                                              1000009500085000

                                                                                                                                                                              70000

                                                                                                                                                                              5000040000

                                                                                                                                                                              BA

                                                                                                                                                                              C

                                                                                                                                                                              D

                                                                                                                                                                              E

                                                                                                                                                                              F

                                                                                                                                                                              At point A all resources are used for butter

                                                                                                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                              At point F all resources are used for Guns

                                                                                                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                              choices are

                                                                                                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                              Locations on a PPF

                                                                                                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                              Food

                                                                                                                                                                              Computer

                                                                                                                                                                              4

                                                                                                                                                                              3

                                                                                                                                                                              2

                                                                                                                                                                              1

                                                                                                                                                                              1 2 3 4

                                                                                                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                              Unit

                                                                                                                                                                              Constantly giving up the same quantity of food to get

                                                                                                                                                                              additional computers

                                                                                                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                              Principle of Increasing Costs

                                                                                                                                                                              As a society produces more of one product the OC of producing

                                                                                                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                              Economic Systems

                                                                                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                              Jigsaw activity

                                                                                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                                                                                              bull Economic Freedom

                                                                                                                                                                              bull Economic Efficiency

                                                                                                                                                                              bull Economic Equity

                                                                                                                                                                              bull Economic Security

                                                                                                                                                                              Economic Stability

                                                                                                                                                                              Economic Growth

                                                                                                                                                                              Review of Economic Systems

                                                                                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                              What are the most important goals of each economic system

                                                                                                                                                                              bullTraditionalSecurity and

                                                                                                                                                                              StabilitybullCommand

                                                                                                                                                                              Equity and Security

                                                                                                                                                                              bullMARKETEfficiency and

                                                                                                                                                                              Freedom

                                                                                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                                                                                              Which economic system does the US use

                                                                                                                                                                              The American Economic System

                                                                                                                                                                              bullWe have a mixed market economy

                                                                                                                                                                              COMMAND MARKET

                                                                                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                              Think backhellip

                                                                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                              2 Limited government

                                                                                                                                                                              3 Equal opportunity

                                                                                                                                                                              4 Competition

                                                                                                                                                                              5 Profit motive

                                                                                                                                                                              6 Property Rights

                                                                                                                                                                              7 Binding Contracts

                                                                                                                                                                              Understanding how all parts fit together

                                                                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                              Shows interdependence between

                                                                                                                                                                              businesses and individuals

                                                                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                              Do you remember

                                                                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                              democracy and mixed economy

                                                                                                                                                                              • Foundations of Government and Economics
                                                                                                                                                                              • On your blank piece of paperhellip
                                                                                                                                                                              • Slide 3
                                                                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                                                                              • Introductory thoughts hellip
                                                                                                                                                                              • Slide 6
                                                                                                                                                                              • 2 How about to your life
                                                                                                                                                                              • Slide 8
                                                                                                                                                                              • Slide 9
                                                                                                                                                                              • Slide 10
                                                                                                                                                                              • Slide 11
                                                                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                                                                              • Economist and Politician Assumptions
                                                                                                                                                                              • Individualism
                                                                                                                                                                              • Quote activity
                                                                                                                                                                              • Quote breakdown
                                                                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                                                                              • Purpose of Government
                                                                                                                                                                              • Slide 20
                                                                                                                                                                              • 3 Theorists
                                                                                                                                                                              • Activity
                                                                                                                                                                              • Origins of American Government A customized government
                                                                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                                                                              • With which theory do you agree more Why
                                                                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                                                                              • Groups Block 2
                                                                                                                                                                              • Groups Block 4
                                                                                                                                                                              • Balloon Game
                                                                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                              • Balloon Game Debriefing
                                                                                                                                                                              • Political Theories
                                                                                                                                                                              • Social Contract
                                                                                                                                                                              • Natural Rights
                                                                                                                                                                              • Democracy
                                                                                                                                                                              • Concepts of Government
                                                                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                                                                              • Warm Up 7
                                                                                                                                                                              • And after the Constitution
                                                                                                                                                                              • Activity (2)
                                                                                                                                                                              • Picture Activity
                                                                                                                                                                              • Constitutional Convention
                                                                                                                                                                              • Purpose of the Convention
                                                                                                                                                                              • VA Plan v NJ Plan
                                                                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                              • Your Task
                                                                                                                                                                              • Closure
                                                                                                                                                                              • States agree
                                                                                                                                                                              • Quote
                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                              • 6 Purpose of Government
                                                                                                                                                                              • Structure of Constitution (2)
                                                                                                                                                                              • Structure of Constitution (3)
                                                                                                                                                                              • Principles of Constitution
                                                                                                                                                                              • Activity
                                                                                                                                                                              • Slide 60
                                                                                                                                                                              • Check for Understanding Six Principles
                                                                                                                                                                              • Question 1
                                                                                                                                                                              • Question 2
                                                                                                                                                                              • Question 3
                                                                                                                                                                              • Question 4
                                                                                                                                                                              • Question 5
                                                                                                                                                                              • Question 6
                                                                                                                                                                              • Question 7
                                                                                                                                                                              • Question 8
                                                                                                                                                                              • Groups
                                                                                                                                                                              • Separation of Powers
                                                                                                                                                                              • Video
                                                                                                                                                                              • Checks and Balances
                                                                                                                                                                              • Slide 74
                                                                                                                                                                              • Checks and balances
                                                                                                                                                                              • Basic Principles
                                                                                                                                                                              • Self- Worth
                                                                                                                                                                              • Equality
                                                                                                                                                                              • Compromise
                                                                                                                                                                              • Individual Freedom
                                                                                                                                                                              • Write your ownhellip
                                                                                                                                                                              • Slide 82
                                                                                                                                                                              • TED Talk
                                                                                                                                                                              • Closure
                                                                                                                                                                              • What is Economics
                                                                                                                                                                              • Economics ishellip
                                                                                                                                                                              • Back to our assumptionshellip
                                                                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                              • For the videohellip
                                                                                                                                                                              • Slide 90
                                                                                                                                                                              • Post Videohellip
                                                                                                                                                                              • Advertisement
                                                                                                                                                                              • Political Cartoon Analysis
                                                                                                                                                                              • Factors of Production
                                                                                                                                                                              • TASK
                                                                                                                                                                              • The price ofhellip
                                                                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                              • 1 What to produce
                                                                                                                                                                              • 2 How to produce it
                                                                                                                                                                              • 3 For whom to produce it
                                                                                                                                                                              • Application Activity
                                                                                                                                                                              • EQs
                                                                                                                                                                              • Objectives amp Essential Questions
                                                                                                                                                                              • Group Activity Budget Activity
                                                                                                                                                                              • Slide 105
                                                                                                                                                                              • How do we satisfy our economic wants
                                                                                                                                                                              • How do we make goods amp services
                                                                                                                                                                              • Economic Interdependence
                                                                                                                                                                              • Slide 109
                                                                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                                                                              • Exampleshellip
                                                                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                              • Opportunity Cost
                                                                                                                                                                              • What else influences your choices
                                                                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                                                                              • ObjectivesEssential Questions
                                                                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                              • Production Possibilities Frontier
                                                                                                                                                                              • PPF Assumptions
                                                                                                                                                                              • Slide 121
                                                                                                                                                                              • Production Possibilities Curve
                                                                                                                                                                              • The Choices Nations Make
                                                                                                                                                                              • Economic Growth
                                                                                                                                                                              • The Classic Guns and Butter example
                                                                                                                                                                              • Productivity
                                                                                                                                                                              • Locations on a PPF
                                                                                                                                                                              • Slide 128
                                                                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                              • Economic Systems
                                                                                                                                                                              • Jigsaw activity
                                                                                                                                                                              • Slide 132
                                                                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                                                                              • Review of Economic Systems
                                                                                                                                                                              • Slide 135
                                                                                                                                                                              • What are the most important goals of each economic system
                                                                                                                                                                              • Which economic system does the US use
                                                                                                                                                                              • The American Economic System
                                                                                                                                                                              • The US mixed economy
                                                                                                                                                                              • Slide 140
                                                                                                                                                                              • Think backhellip
                                                                                                                                                                              • US Economic System Characteristics
                                                                                                                                                                              • Slide 143
                                                                                                                                                                              • Understanding how all parts fit together
                                                                                                                                                                              • Marriage Vows
                                                                                                                                                                              • Do you remember
                                                                                                                                                                              • Slide 147

                                                                                                                                                                                bullhttpwwwyoutubecomwatchv=TO7UTNS7r0w

                                                                                                                                                                                Post Videohellip

                                                                                                                                                                                bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                                Advertisement

                                                                                                                                                                                bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                                bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                                3 images that represent different economic ideas

                                                                                                                                                                                2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                                1 slogan that represents why economics is an important course to take

                                                                                                                                                                                Political Cartoon Analysis

                                                                                                                                                                                Factors of Production bull LAND

                                                                                                                                                                                Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                                soil minerals water and plants

                                                                                                                                                                                bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                                into producing goodsservices

                                                                                                                                                                                bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                                technologies

                                                                                                                                                                                bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                                land labor and capital to produce goods and services

                                                                                                                                                                                TASK

                                                                                                                                                                                bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                                bullAnswer in 2-3 sentences

                                                                                                                                                                                The price ofhellip

                                                                                                                                                                                bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                                Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                                All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                                1 What to produce

                                                                                                                                                                                bullShould it be military or civilian goods

                                                                                                                                                                                bullFood or clothingbullMedicine or movies

                                                                                                                                                                                2 How to produce it

                                                                                                                                                                                bullAutomated or manual labor

                                                                                                                                                                                bullExpensive or cheap materials

                                                                                                                                                                                bullDomestic or overseas labor

                                                                                                                                                                                3 For whom to produce it

                                                                                                                                                                                bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                Application Activity

                                                                                                                                                                                bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                withhellip Images representing what you produce and a

                                                                                                                                                                                slogan for why your country is awesome

                                                                                                                                                                                EQs

                                                                                                                                                                                bullHow does scarcity impact decision making

                                                                                                                                                                                Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                Group Activity Budget Activity

                                                                                                                                                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                How do we satisfy our economic wants

                                                                                                                                                                                bull We buy goods or services

                                                                                                                                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                How do we make goods amp services

                                                                                                                                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                Production Equation

                                                                                                                                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                inputs output

                                                                                                                                                                                Economic Interdependence

                                                                                                                                                                                bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                country (world) has an impact on what happens elsewhere

                                                                                                                                                                                Wants amp Needs gt

                                                                                                                                                                                Resources

                                                                                                                                                                                Because of scarcity we

                                                                                                                                                                                have to make choices

                                                                                                                                                                                How do we make a choice What do we give up

                                                                                                                                                                                What does this remind you of from our government unit

                                                                                                                                                                                Making Choices to Deal With Scarcity

                                                                                                                                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                decision over another

                                                                                                                                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                school today or should I sleep in

                                                                                                                                                                                Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                In the end what helped you decide amongst your choices

                                                                                                                                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                tradeoffs for that decision

                                                                                                                                                                                Be prepared to share

                                                                                                                                                                                Opportunity Cost

                                                                                                                                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                we want

                                                                                                                                                                                What else influences your choices

                                                                                                                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                FinallyhellipWhy it Matters

                                                                                                                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                better decision-maker

                                                                                                                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                You always have to give something uphelliprdquo

                                                                                                                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                decisions

                                                                                                                                                                                Visualizing the Relationshiphellip

                                                                                                                                                                                Limited Resources amp Unlimited Wants

                                                                                                                                                                                Scarcity

                                                                                                                                                                                Trade-offs (choices)

                                                                                                                                                                                Opportunity Costs

                                                                                                                                                                                ObjectivesEssential Questions

                                                                                                                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                the three different types of economies

                                                                                                                                                                                bullEssential Question How do the different types of economies work

                                                                                                                                                                                How Can We Measure What We Gain and Lose When

                                                                                                                                                                                Making Choices

                                                                                                                                                                                Answer With a Production Possibilities Frontier

                                                                                                                                                                                Production Possibilities Frontier

                                                                                                                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                PPF Assumptions

                                                                                                                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                Production Possibilities Curve

                                                                                                                                                                                CD

                                                                                                                                                                                E

                                                                                                                                                                                OU

                                                                                                                                                                                TP

                                                                                                                                                                                UT

                                                                                                                                                                                OF

                                                                                                                                                                                CO

                                                                                                                                                                                NS

                                                                                                                                                                                UM

                                                                                                                                                                                ER

                                                                                                                                                                                GO

                                                                                                                                                                                OD

                                                                                                                                                                                S

                                                                                                                                                                                (un

                                                                                                                                                                                its

                                                                                                                                                                                per

                                                                                                                                                                                yea

                                                                                                                                                                                r)

                                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                A

                                                                                                                                                                                BO

                                                                                                                                                                                XF

                                                                                                                                                                                G

                                                                                                                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                The Choices Nations Make

                                                                                                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                bullProduce military goods or consumer goods

                                                                                                                                                                                Economic Growth

                                                                                                                                                                                2000 production possibilities

                                                                                                                                                                                1900 production possibilities

                                                                                                                                                                                OU

                                                                                                                                                                                TP

                                                                                                                                                                                UT

                                                                                                                                                                                OF

                                                                                                                                                                                CO

                                                                                                                                                                                NS

                                                                                                                                                                                UM

                                                                                                                                                                                ER

                                                                                                                                                                                GO

                                                                                                                                                                                OD

                                                                                                                                                                                S(u

                                                                                                                                                                                nits

                                                                                                                                                                                per

                                                                                                                                                                                yea

                                                                                                                                                                                r)

                                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                Production possibilities increases with more resources and technology

                                                                                                                                                                                The Classic Guns and Butter example

                                                                                                                                                                                Guns

                                                                                                                                                                                Butter

                                                                                                                                                                                10000 20000 30000 40000 50000

                                                                                                                                                                                1000009500085000

                                                                                                                                                                                70000

                                                                                                                                                                                5000040000

                                                                                                                                                                                BA

                                                                                                                                                                                C

                                                                                                                                                                                D

                                                                                                                                                                                E

                                                                                                                                                                                F

                                                                                                                                                                                At point A all resources are used for butter

                                                                                                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                At point F all resources are used for Guns

                                                                                                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                choices are

                                                                                                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                Locations on a PPF

                                                                                                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                Food

                                                                                                                                                                                Computer

                                                                                                                                                                                4

                                                                                                                                                                                3

                                                                                                                                                                                2

                                                                                                                                                                                1

                                                                                                                                                                                1 2 3 4

                                                                                                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                Unit

                                                                                                                                                                                Constantly giving up the same quantity of food to get

                                                                                                                                                                                additional computers

                                                                                                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                Principle of Increasing Costs

                                                                                                                                                                                As a society produces more of one product the OC of producing

                                                                                                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                Economic Systems

                                                                                                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                Jigsaw activity

                                                                                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                                                                                bull Economic Freedom

                                                                                                                                                                                bull Economic Efficiency

                                                                                                                                                                                bull Economic Equity

                                                                                                                                                                                bull Economic Security

                                                                                                                                                                                Economic Stability

                                                                                                                                                                                Economic Growth

                                                                                                                                                                                Review of Economic Systems

                                                                                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                What are the most important goals of each economic system

                                                                                                                                                                                bullTraditionalSecurity and

                                                                                                                                                                                StabilitybullCommand

                                                                                                                                                                                Equity and Security

                                                                                                                                                                                bullMARKETEfficiency and

                                                                                                                                                                                Freedom

                                                                                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                                                                                Which economic system does the US use

                                                                                                                                                                                The American Economic System

                                                                                                                                                                                bullWe have a mixed market economy

                                                                                                                                                                                COMMAND MARKET

                                                                                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                Think backhellip

                                                                                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                2 Limited government

                                                                                                                                                                                3 Equal opportunity

                                                                                                                                                                                4 Competition

                                                                                                                                                                                5 Profit motive

                                                                                                                                                                                6 Property Rights

                                                                                                                                                                                7 Binding Contracts

                                                                                                                                                                                Understanding how all parts fit together

                                                                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                Shows interdependence between

                                                                                                                                                                                businesses and individuals

                                                                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                Do you remember

                                                                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                democracy and mixed economy

                                                                                                                                                                                • Foundations of Government and Economics
                                                                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                                                                • Slide 3
                                                                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                                                                • Introductory thoughts hellip
                                                                                                                                                                                • Slide 6
                                                                                                                                                                                • 2 How about to your life
                                                                                                                                                                                • Slide 8
                                                                                                                                                                                • Slide 9
                                                                                                                                                                                • Slide 10
                                                                                                                                                                                • Slide 11
                                                                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                                                                • Individualism
                                                                                                                                                                                • Quote activity
                                                                                                                                                                                • Quote breakdown
                                                                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                                                                • Purpose of Government
                                                                                                                                                                                • Slide 20
                                                                                                                                                                                • 3 Theorists
                                                                                                                                                                                • Activity
                                                                                                                                                                                • Origins of American Government A customized government
                                                                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                                                                • With which theory do you agree more Why
                                                                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                • Groups Block 2
                                                                                                                                                                                • Groups Block 4
                                                                                                                                                                                • Balloon Game
                                                                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                • Balloon Game Debriefing
                                                                                                                                                                                • Political Theories
                                                                                                                                                                                • Social Contract
                                                                                                                                                                                • Natural Rights
                                                                                                                                                                                • Democracy
                                                                                                                                                                                • Concepts of Government
                                                                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                                                                • Warm Up 7
                                                                                                                                                                                • And after the Constitution
                                                                                                                                                                                • Activity (2)
                                                                                                                                                                                • Picture Activity
                                                                                                                                                                                • Constitutional Convention
                                                                                                                                                                                • Purpose of the Convention
                                                                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                • Your Task
                                                                                                                                                                                • Closure
                                                                                                                                                                                • States agree
                                                                                                                                                                                • Quote
                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                • 6 Purpose of Government
                                                                                                                                                                                • Structure of Constitution (2)
                                                                                                                                                                                • Structure of Constitution (3)
                                                                                                                                                                                • Principles of Constitution
                                                                                                                                                                                • Activity
                                                                                                                                                                                • Slide 60
                                                                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                                                                • Question 1
                                                                                                                                                                                • Question 2
                                                                                                                                                                                • Question 3
                                                                                                                                                                                • Question 4
                                                                                                                                                                                • Question 5
                                                                                                                                                                                • Question 6
                                                                                                                                                                                • Question 7
                                                                                                                                                                                • Question 8
                                                                                                                                                                                • Groups
                                                                                                                                                                                • Separation of Powers
                                                                                                                                                                                • Video
                                                                                                                                                                                • Checks and Balances
                                                                                                                                                                                • Slide 74
                                                                                                                                                                                • Checks and balances
                                                                                                                                                                                • Basic Principles
                                                                                                                                                                                • Self- Worth
                                                                                                                                                                                • Equality
                                                                                                                                                                                • Compromise
                                                                                                                                                                                • Individual Freedom
                                                                                                                                                                                • Write your ownhellip
                                                                                                                                                                                • Slide 82
                                                                                                                                                                                • TED Talk
                                                                                                                                                                                • Closure
                                                                                                                                                                                • What is Economics
                                                                                                                                                                                • Economics ishellip
                                                                                                                                                                                • Back to our assumptionshellip
                                                                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                • For the videohellip
                                                                                                                                                                                • Slide 90
                                                                                                                                                                                • Post Videohellip
                                                                                                                                                                                • Advertisement
                                                                                                                                                                                • Political Cartoon Analysis
                                                                                                                                                                                • Factors of Production
                                                                                                                                                                                • TASK
                                                                                                                                                                                • The price ofhellip
                                                                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                • 1 What to produce
                                                                                                                                                                                • 2 How to produce it
                                                                                                                                                                                • 3 For whom to produce it
                                                                                                                                                                                • Application Activity
                                                                                                                                                                                • EQs
                                                                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                                                                • Group Activity Budget Activity
                                                                                                                                                                                • Slide 105
                                                                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                                                                • How do we make goods amp services
                                                                                                                                                                                • Economic Interdependence
                                                                                                                                                                                • Slide 109
                                                                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                                                                • Exampleshellip
                                                                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                • Opportunity Cost
                                                                                                                                                                                • What else influences your choices
                                                                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                • Production Possibilities Frontier
                                                                                                                                                                                • PPF Assumptions
                                                                                                                                                                                • Slide 121
                                                                                                                                                                                • Production Possibilities Curve
                                                                                                                                                                                • The Choices Nations Make
                                                                                                                                                                                • Economic Growth
                                                                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                                                                • Productivity
                                                                                                                                                                                • Locations on a PPF
                                                                                                                                                                                • Slide 128
                                                                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                • Economic Systems
                                                                                                                                                                                • Jigsaw activity
                                                                                                                                                                                • Slide 132
                                                                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                                                                • Review of Economic Systems
                                                                                                                                                                                • Slide 135
                                                                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                                                                • Which economic system does the US use
                                                                                                                                                                                • The American Economic System
                                                                                                                                                                                • The US mixed economy
                                                                                                                                                                                • Slide 140
                                                                                                                                                                                • Think backhellip
                                                                                                                                                                                • US Economic System Characteristics
                                                                                                                                                                                • Slide 143
                                                                                                                                                                                • Understanding how all parts fit together
                                                                                                                                                                                • Marriage Vows
                                                                                                                                                                                • Do you remember
                                                                                                                                                                                • Slide 147

                                                                                                                                                                                  Post Videohellip

                                                                                                                                                                                  bullDefine the main idea of the video in 4-5 words

                                                                                                                                                                                  Advertisement

                                                                                                                                                                                  bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                                  bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                                  3 images that represent different economic ideas

                                                                                                                                                                                  2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                                  1 slogan that represents why economics is an important course to take

                                                                                                                                                                                  Political Cartoon Analysis

                                                                                                                                                                                  Factors of Production bull LAND

                                                                                                                                                                                  Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                                  soil minerals water and plants

                                                                                                                                                                                  bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                                  into producing goodsservices

                                                                                                                                                                                  bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                                  technologies

                                                                                                                                                                                  bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                                  land labor and capital to produce goods and services

                                                                                                                                                                                  TASK

                                                                                                                                                                                  bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                                  bullAnswer in 2-3 sentences

                                                                                                                                                                                  The price ofhellip

                                                                                                                                                                                  bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                                  Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                                  All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                                  1 What to produce

                                                                                                                                                                                  bullShould it be military or civilian goods

                                                                                                                                                                                  bullFood or clothingbullMedicine or movies

                                                                                                                                                                                  2 How to produce it

                                                                                                                                                                                  bullAutomated or manual labor

                                                                                                                                                                                  bullExpensive or cheap materials

                                                                                                                                                                                  bullDomestic or overseas labor

                                                                                                                                                                                  3 For whom to produce it

                                                                                                                                                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                  Application Activity

                                                                                                                                                                                  bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                  bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                  withhellip Images representing what you produce and a

                                                                                                                                                                                  slogan for why your country is awesome

                                                                                                                                                                                  EQs

                                                                                                                                                                                  bullHow does scarcity impact decision making

                                                                                                                                                                                  Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                  I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                  I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                  Group Activity Budget Activity

                                                                                                                                                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                  How do we satisfy our economic wants

                                                                                                                                                                                  bull We buy goods or services

                                                                                                                                                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                  How do we make goods amp services

                                                                                                                                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                  Production Equation

                                                                                                                                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                  inputs output

                                                                                                                                                                                  Economic Interdependence

                                                                                                                                                                                  bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                  bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                  bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                  country (world) has an impact on what happens elsewhere

                                                                                                                                                                                  Wants amp Needs gt

                                                                                                                                                                                  Resources

                                                                                                                                                                                  Because of scarcity we

                                                                                                                                                                                  have to make choices

                                                                                                                                                                                  How do we make a choice What do we give up

                                                                                                                                                                                  What does this remind you of from our government unit

                                                                                                                                                                                  Making Choices to Deal With Scarcity

                                                                                                                                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                  decision over another

                                                                                                                                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                  school today or should I sleep in

                                                                                                                                                                                  Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                  In the end what helped you decide amongst your choices

                                                                                                                                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                  tradeoffs for that decision

                                                                                                                                                                                  Be prepared to share

                                                                                                                                                                                  Opportunity Cost

                                                                                                                                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                  we want

                                                                                                                                                                                  What else influences your choices

                                                                                                                                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                  FinallyhellipWhy it Matters

                                                                                                                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                  better decision-maker

                                                                                                                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                  You always have to give something uphelliprdquo

                                                                                                                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                  decisions

                                                                                                                                                                                  Visualizing the Relationshiphellip

                                                                                                                                                                                  Limited Resources amp Unlimited Wants

                                                                                                                                                                                  Scarcity

                                                                                                                                                                                  Trade-offs (choices)

                                                                                                                                                                                  Opportunity Costs

                                                                                                                                                                                  ObjectivesEssential Questions

                                                                                                                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                  the three different types of economies

                                                                                                                                                                                  bullEssential Question How do the different types of economies work

                                                                                                                                                                                  How Can We Measure What We Gain and Lose When

                                                                                                                                                                                  Making Choices

                                                                                                                                                                                  Answer With a Production Possibilities Frontier

                                                                                                                                                                                  Production Possibilities Frontier

                                                                                                                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                  PPF Assumptions

                                                                                                                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                  Production Possibilities Curve

                                                                                                                                                                                  CD

                                                                                                                                                                                  E

                                                                                                                                                                                  OU

                                                                                                                                                                                  TP

                                                                                                                                                                                  UT

                                                                                                                                                                                  OF

                                                                                                                                                                                  CO

                                                                                                                                                                                  NS

                                                                                                                                                                                  UM

                                                                                                                                                                                  ER

                                                                                                                                                                                  GO

                                                                                                                                                                                  OD

                                                                                                                                                                                  S

                                                                                                                                                                                  (un

                                                                                                                                                                                  its

                                                                                                                                                                                  per

                                                                                                                                                                                  yea

                                                                                                                                                                                  r)

                                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                  A

                                                                                                                                                                                  BO

                                                                                                                                                                                  XF

                                                                                                                                                                                  G

                                                                                                                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                  The Choices Nations Make

                                                                                                                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                  bullProduce military goods or consumer goods

                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                  2000 production possibilities

                                                                                                                                                                                  1900 production possibilities

                                                                                                                                                                                  OU

                                                                                                                                                                                  TP

                                                                                                                                                                                  UT

                                                                                                                                                                                  OF

                                                                                                                                                                                  CO

                                                                                                                                                                                  NS

                                                                                                                                                                                  UM

                                                                                                                                                                                  ER

                                                                                                                                                                                  GO

                                                                                                                                                                                  OD

                                                                                                                                                                                  S(u

                                                                                                                                                                                  nits

                                                                                                                                                                                  per

                                                                                                                                                                                  yea

                                                                                                                                                                                  r)

                                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                  Production possibilities increases with more resources and technology

                                                                                                                                                                                  The Classic Guns and Butter example

                                                                                                                                                                                  Guns

                                                                                                                                                                                  Butter

                                                                                                                                                                                  10000 20000 30000 40000 50000

                                                                                                                                                                                  1000009500085000

                                                                                                                                                                                  70000

                                                                                                                                                                                  5000040000

                                                                                                                                                                                  BA

                                                                                                                                                                                  C

                                                                                                                                                                                  D

                                                                                                                                                                                  E

                                                                                                                                                                                  F

                                                                                                                                                                                  At point A all resources are used for butter

                                                                                                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                  At point F all resources are used for Guns

                                                                                                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                  choices are

                                                                                                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                  Locations on a PPF

                                                                                                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                  Food

                                                                                                                                                                                  Computer

                                                                                                                                                                                  4

                                                                                                                                                                                  3

                                                                                                                                                                                  2

                                                                                                                                                                                  1

                                                                                                                                                                                  1 2 3 4

                                                                                                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                  Unit

                                                                                                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                                                                                                  additional computers

                                                                                                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                  Principle of Increasing Costs

                                                                                                                                                                                  As a society produces more of one product the OC of producing

                                                                                                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                  Economic Systems

                                                                                                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                  Jigsaw activity

                                                                                                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                                                                                  bull Economic Freedom

                                                                                                                                                                                  bull Economic Efficiency

                                                                                                                                                                                  bull Economic Equity

                                                                                                                                                                                  bull Economic Security

                                                                                                                                                                                  Economic Stability

                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                  Review of Economic Systems

                                                                                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                  What are the most important goals of each economic system

                                                                                                                                                                                  bullTraditionalSecurity and

                                                                                                                                                                                  StabilitybullCommand

                                                                                                                                                                                  Equity and Security

                                                                                                                                                                                  bullMARKETEfficiency and

                                                                                                                                                                                  Freedom

                                                                                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                                                                                  Which economic system does the US use

                                                                                                                                                                                  The American Economic System

                                                                                                                                                                                  bullWe have a mixed market economy

                                                                                                                                                                                  COMMAND MARKET

                                                                                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                  Think backhellip

                                                                                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                  2 Limited government

                                                                                                                                                                                  3 Equal opportunity

                                                                                                                                                                                  4 Competition

                                                                                                                                                                                  5 Profit motive

                                                                                                                                                                                  6 Property Rights

                                                                                                                                                                                  7 Binding Contracts

                                                                                                                                                                                  Understanding how all parts fit together

                                                                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                  Shows interdependence between

                                                                                                                                                                                  businesses and individuals

                                                                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                  Do you remember

                                                                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                  democracy and mixed economy

                                                                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                                                                  • Slide 3
                                                                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                                                                  • Slide 6
                                                                                                                                                                                  • 2 How about to your life
                                                                                                                                                                                  • Slide 8
                                                                                                                                                                                  • Slide 9
                                                                                                                                                                                  • Slide 10
                                                                                                                                                                                  • Slide 11
                                                                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                                                                  • Individualism
                                                                                                                                                                                  • Quote activity
                                                                                                                                                                                  • Quote breakdown
                                                                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                                                                  • Purpose of Government
                                                                                                                                                                                  • Slide 20
                                                                                                                                                                                  • 3 Theorists
                                                                                                                                                                                  • Activity
                                                                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                  • Groups Block 2
                                                                                                                                                                                  • Groups Block 4
                                                                                                                                                                                  • Balloon Game
                                                                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                                                                  • Political Theories
                                                                                                                                                                                  • Social Contract
                                                                                                                                                                                  • Natural Rights
                                                                                                                                                                                  • Democracy
                                                                                                                                                                                  • Concepts of Government
                                                                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                                                                  • Warm Up 7
                                                                                                                                                                                  • And after the Constitution
                                                                                                                                                                                  • Activity (2)
                                                                                                                                                                                  • Picture Activity
                                                                                                                                                                                  • Constitutional Convention
                                                                                                                                                                                  • Purpose of the Convention
                                                                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                  • Your Task
                                                                                                                                                                                  • Closure
                                                                                                                                                                                  • States agree
                                                                                                                                                                                  • Quote
                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                  • 6 Purpose of Government
                                                                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                                                                  • Principles of Constitution
                                                                                                                                                                                  • Activity
                                                                                                                                                                                  • Slide 60
                                                                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                                                                  • Question 1
                                                                                                                                                                                  • Question 2
                                                                                                                                                                                  • Question 3
                                                                                                                                                                                  • Question 4
                                                                                                                                                                                  • Question 5
                                                                                                                                                                                  • Question 6
                                                                                                                                                                                  • Question 7
                                                                                                                                                                                  • Question 8
                                                                                                                                                                                  • Groups
                                                                                                                                                                                  • Separation of Powers
                                                                                                                                                                                  • Video
                                                                                                                                                                                  • Checks and Balances
                                                                                                                                                                                  • Slide 74
                                                                                                                                                                                  • Checks and balances
                                                                                                                                                                                  • Basic Principles
                                                                                                                                                                                  • Self- Worth
                                                                                                                                                                                  • Equality
                                                                                                                                                                                  • Compromise
                                                                                                                                                                                  • Individual Freedom
                                                                                                                                                                                  • Write your ownhellip
                                                                                                                                                                                  • Slide 82
                                                                                                                                                                                  • TED Talk
                                                                                                                                                                                  • Closure
                                                                                                                                                                                  • What is Economics
                                                                                                                                                                                  • Economics ishellip
                                                                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                  • For the videohellip
                                                                                                                                                                                  • Slide 90
                                                                                                                                                                                  • Post Videohellip
                                                                                                                                                                                  • Advertisement
                                                                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                                                                  • Factors of Production
                                                                                                                                                                                  • TASK
                                                                                                                                                                                  • The price ofhellip
                                                                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                  • 1 What to produce
                                                                                                                                                                                  • 2 How to produce it
                                                                                                                                                                                  • 3 For whom to produce it
                                                                                                                                                                                  • Application Activity
                                                                                                                                                                                  • EQs
                                                                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                                                                  • Slide 105
                                                                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                                                                  • How do we make goods amp services
                                                                                                                                                                                  • Economic Interdependence
                                                                                                                                                                                  • Slide 109
                                                                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                                                                  • Exampleshellip
                                                                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                  • Opportunity Cost
                                                                                                                                                                                  • What else influences your choices
                                                                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                                                                  • PPF Assumptions
                                                                                                                                                                                  • Slide 121
                                                                                                                                                                                  • Production Possibilities Curve
                                                                                                                                                                                  • The Choices Nations Make
                                                                                                                                                                                  • Economic Growth
                                                                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                                                                  • Productivity
                                                                                                                                                                                  • Locations on a PPF
                                                                                                                                                                                  • Slide 128
                                                                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                  • Economic Systems
                                                                                                                                                                                  • Jigsaw activity
                                                                                                                                                                                  • Slide 132
                                                                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                                                                  • Review of Economic Systems
                                                                                                                                                                                  • Slide 135
                                                                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                                                                  • Which economic system does the US use
                                                                                                                                                                                  • The American Economic System
                                                                                                                                                                                  • The US mixed economy
                                                                                                                                                                                  • Slide 140
                                                                                                                                                                                  • Think backhellip
                                                                                                                                                                                  • US Economic System Characteristics
                                                                                                                                                                                  • Slide 143
                                                                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                                                                  • Marriage Vows
                                                                                                                                                                                  • Do you remember
                                                                                                                                                                                  • Slide 147

                                                                                                                                                                                    Advertisement

                                                                                                                                                                                    bullKnowing some of the basics about what economics is and why we study ithellip

                                                                                                                                                                                    bullCreate an advertisement for an economics course BE SURE TO INCLUDE

                                                                                                                                                                                    3 images that represent different economic ideas

                                                                                                                                                                                    2 ldquothought bubblesrdquo that represent things yoursquoll learn about in economics

                                                                                                                                                                                    1 slogan that represents why economics is an important course to take

                                                                                                                                                                                    Political Cartoon Analysis

                                                                                                                                                                                    Factors of Production bull LAND

                                                                                                                                                                                    Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                                    soil minerals water and plants

                                                                                                                                                                                    bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                                    into producing goodsservices

                                                                                                                                                                                    bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                                    technologies

                                                                                                                                                                                    bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                                    land labor and capital to produce goods and services

                                                                                                                                                                                    TASK

                                                                                                                                                                                    bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                                    bullAnswer in 2-3 sentences

                                                                                                                                                                                    The price ofhellip

                                                                                                                                                                                    bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                                    Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                                    All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                                    1 What to produce

                                                                                                                                                                                    bullShould it be military or civilian goods

                                                                                                                                                                                    bullFood or clothingbullMedicine or movies

                                                                                                                                                                                    2 How to produce it

                                                                                                                                                                                    bullAutomated or manual labor

                                                                                                                                                                                    bullExpensive or cheap materials

                                                                                                                                                                                    bullDomestic or overseas labor

                                                                                                                                                                                    3 For whom to produce it

                                                                                                                                                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                    Application Activity

                                                                                                                                                                                    bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                    bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                    withhellip Images representing what you produce and a

                                                                                                                                                                                    slogan for why your country is awesome

                                                                                                                                                                                    EQs

                                                                                                                                                                                    bullHow does scarcity impact decision making

                                                                                                                                                                                    Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                    I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                    I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                    Group Activity Budget Activity

                                                                                                                                                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                    How do we satisfy our economic wants

                                                                                                                                                                                    bull We buy goods or services

                                                                                                                                                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                    How do we make goods amp services

                                                                                                                                                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                    Production Equation

                                                                                                                                                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                    inputs output

                                                                                                                                                                                    Economic Interdependence

                                                                                                                                                                                    bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                    bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                    bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                    country (world) has an impact on what happens elsewhere

                                                                                                                                                                                    Wants amp Needs gt

                                                                                                                                                                                    Resources

                                                                                                                                                                                    Because of scarcity we

                                                                                                                                                                                    have to make choices

                                                                                                                                                                                    How do we make a choice What do we give up

                                                                                                                                                                                    What does this remind you of from our government unit

                                                                                                                                                                                    Making Choices to Deal With Scarcity

                                                                                                                                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                    decision over another

                                                                                                                                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                    school today or should I sleep in

                                                                                                                                                                                    Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                    In the end what helped you decide amongst your choices

                                                                                                                                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                    tradeoffs for that decision

                                                                                                                                                                                    Be prepared to share

                                                                                                                                                                                    Opportunity Cost

                                                                                                                                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                    we want

                                                                                                                                                                                    What else influences your choices

                                                                                                                                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                    FinallyhellipWhy it Matters

                                                                                                                                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                    better decision-maker

                                                                                                                                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                    You always have to give something uphelliprdquo

                                                                                                                                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                    decisions

                                                                                                                                                                                    Visualizing the Relationshiphellip

                                                                                                                                                                                    Limited Resources amp Unlimited Wants

                                                                                                                                                                                    Scarcity

                                                                                                                                                                                    Trade-offs (choices)

                                                                                                                                                                                    Opportunity Costs

                                                                                                                                                                                    ObjectivesEssential Questions

                                                                                                                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                    the three different types of economies

                                                                                                                                                                                    bullEssential Question How do the different types of economies work

                                                                                                                                                                                    How Can We Measure What We Gain and Lose When

                                                                                                                                                                                    Making Choices

                                                                                                                                                                                    Answer With a Production Possibilities Frontier

                                                                                                                                                                                    Production Possibilities Frontier

                                                                                                                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                    PPF Assumptions

                                                                                                                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                    Production Possibilities Curve

                                                                                                                                                                                    CD

                                                                                                                                                                                    E

                                                                                                                                                                                    OU

                                                                                                                                                                                    TP

                                                                                                                                                                                    UT

                                                                                                                                                                                    OF

                                                                                                                                                                                    CO

                                                                                                                                                                                    NS

                                                                                                                                                                                    UM

                                                                                                                                                                                    ER

                                                                                                                                                                                    GO

                                                                                                                                                                                    OD

                                                                                                                                                                                    S

                                                                                                                                                                                    (un

                                                                                                                                                                                    its

                                                                                                                                                                                    per

                                                                                                                                                                                    yea

                                                                                                                                                                                    r)

                                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                    A

                                                                                                                                                                                    BO

                                                                                                                                                                                    XF

                                                                                                                                                                                    G

                                                                                                                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                    The Choices Nations Make

                                                                                                                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                    bullProduce military goods or consumer goods

                                                                                                                                                                                    Economic Growth

                                                                                                                                                                                    2000 production possibilities

                                                                                                                                                                                    1900 production possibilities

                                                                                                                                                                                    OU

                                                                                                                                                                                    TP

                                                                                                                                                                                    UT

                                                                                                                                                                                    OF

                                                                                                                                                                                    CO

                                                                                                                                                                                    NS

                                                                                                                                                                                    UM

                                                                                                                                                                                    ER

                                                                                                                                                                                    GO

                                                                                                                                                                                    OD

                                                                                                                                                                                    S(u

                                                                                                                                                                                    nits

                                                                                                                                                                                    per

                                                                                                                                                                                    yea

                                                                                                                                                                                    r)

                                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                    Production possibilities increases with more resources and technology

                                                                                                                                                                                    The Classic Guns and Butter example

                                                                                                                                                                                    Guns

                                                                                                                                                                                    Butter

                                                                                                                                                                                    10000 20000 30000 40000 50000

                                                                                                                                                                                    1000009500085000

                                                                                                                                                                                    70000

                                                                                                                                                                                    5000040000

                                                                                                                                                                                    BA

                                                                                                                                                                                    C

                                                                                                                                                                                    D

                                                                                                                                                                                    E

                                                                                                                                                                                    F

                                                                                                                                                                                    At point A all resources are used for butter

                                                                                                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                    At point F all resources are used for Guns

                                                                                                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                    choices are

                                                                                                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                    Locations on a PPF

                                                                                                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                    Food

                                                                                                                                                                                    Computer

                                                                                                                                                                                    4

                                                                                                                                                                                    3

                                                                                                                                                                                    2

                                                                                                                                                                                    1

                                                                                                                                                                                    1 2 3 4

                                                                                                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                    Unit

                                                                                                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                                                                                                    additional computers

                                                                                                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                    Principle of Increasing Costs

                                                                                                                                                                                    As a society produces more of one product the OC of producing

                                                                                                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                    Economic Systems

                                                                                                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                    Jigsaw activity

                                                                                                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                                                                                                    bull Economic Freedom

                                                                                                                                                                                    bull Economic Efficiency

                                                                                                                                                                                    bull Economic Equity

                                                                                                                                                                                    bull Economic Security

                                                                                                                                                                                    Economic Stability

                                                                                                                                                                                    Economic Growth

                                                                                                                                                                                    Review of Economic Systems

                                                                                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                    What are the most important goals of each economic system

                                                                                                                                                                                    bullTraditionalSecurity and

                                                                                                                                                                                    StabilitybullCommand

                                                                                                                                                                                    Equity and Security

                                                                                                                                                                                    bullMARKETEfficiency and

                                                                                                                                                                                    Freedom

                                                                                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                                                                                    Which economic system does the US use

                                                                                                                                                                                    The American Economic System

                                                                                                                                                                                    bullWe have a mixed market economy

                                                                                                                                                                                    COMMAND MARKET

                                                                                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                    Think backhellip

                                                                                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                    2 Limited government

                                                                                                                                                                                    3 Equal opportunity

                                                                                                                                                                                    4 Competition

                                                                                                                                                                                    5 Profit motive

                                                                                                                                                                                    6 Property Rights

                                                                                                                                                                                    7 Binding Contracts

                                                                                                                                                                                    Understanding how all parts fit together

                                                                                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                    Shows interdependence between

                                                                                                                                                                                    businesses and individuals

                                                                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                    Do you remember

                                                                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                    democracy and mixed economy

                                                                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                                                                    • Slide 3
                                                                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                                                                    • Slide 6
                                                                                                                                                                                    • 2 How about to your life
                                                                                                                                                                                    • Slide 8
                                                                                                                                                                                    • Slide 9
                                                                                                                                                                                    • Slide 10
                                                                                                                                                                                    • Slide 11
                                                                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                                                                    • Individualism
                                                                                                                                                                                    • Quote activity
                                                                                                                                                                                    • Quote breakdown
                                                                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                                                                    • Purpose of Government
                                                                                                                                                                                    • Slide 20
                                                                                                                                                                                    • 3 Theorists
                                                                                                                                                                                    • Activity
                                                                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                    • Groups Block 2
                                                                                                                                                                                    • Groups Block 4
                                                                                                                                                                                    • Balloon Game
                                                                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                                                                    • Political Theories
                                                                                                                                                                                    • Social Contract
                                                                                                                                                                                    • Natural Rights
                                                                                                                                                                                    • Democracy
                                                                                                                                                                                    • Concepts of Government
                                                                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                                                                    • Warm Up 7
                                                                                                                                                                                    • And after the Constitution
                                                                                                                                                                                    • Activity (2)
                                                                                                                                                                                    • Picture Activity
                                                                                                                                                                                    • Constitutional Convention
                                                                                                                                                                                    • Purpose of the Convention
                                                                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                    • Your Task
                                                                                                                                                                                    • Closure
                                                                                                                                                                                    • States agree
                                                                                                                                                                                    • Quote
                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                    • 6 Purpose of Government
                                                                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                                                                    • Principles of Constitution
                                                                                                                                                                                    • Activity
                                                                                                                                                                                    • Slide 60
                                                                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                                                                    • Question 1
                                                                                                                                                                                    • Question 2
                                                                                                                                                                                    • Question 3
                                                                                                                                                                                    • Question 4
                                                                                                                                                                                    • Question 5
                                                                                                                                                                                    • Question 6
                                                                                                                                                                                    • Question 7
                                                                                                                                                                                    • Question 8
                                                                                                                                                                                    • Groups
                                                                                                                                                                                    • Separation of Powers
                                                                                                                                                                                    • Video
                                                                                                                                                                                    • Checks and Balances
                                                                                                                                                                                    • Slide 74
                                                                                                                                                                                    • Checks and balances
                                                                                                                                                                                    • Basic Principles
                                                                                                                                                                                    • Self- Worth
                                                                                                                                                                                    • Equality
                                                                                                                                                                                    • Compromise
                                                                                                                                                                                    • Individual Freedom
                                                                                                                                                                                    • Write your ownhellip
                                                                                                                                                                                    • Slide 82
                                                                                                                                                                                    • TED Talk
                                                                                                                                                                                    • Closure
                                                                                                                                                                                    • What is Economics
                                                                                                                                                                                    • Economics ishellip
                                                                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                    • For the videohellip
                                                                                                                                                                                    • Slide 90
                                                                                                                                                                                    • Post Videohellip
                                                                                                                                                                                    • Advertisement
                                                                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                                                                    • Factors of Production
                                                                                                                                                                                    • TASK
                                                                                                                                                                                    • The price ofhellip
                                                                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                    • 1 What to produce
                                                                                                                                                                                    • 2 How to produce it
                                                                                                                                                                                    • 3 For whom to produce it
                                                                                                                                                                                    • Application Activity
                                                                                                                                                                                    • EQs
                                                                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                                                                    • Slide 105
                                                                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                                                                    • How do we make goods amp services
                                                                                                                                                                                    • Economic Interdependence
                                                                                                                                                                                    • Slide 109
                                                                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                                                                    • Exampleshellip
                                                                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                    • Opportunity Cost
                                                                                                                                                                                    • What else influences your choices
                                                                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                                                                    • PPF Assumptions
                                                                                                                                                                                    • Slide 121
                                                                                                                                                                                    • Production Possibilities Curve
                                                                                                                                                                                    • The Choices Nations Make
                                                                                                                                                                                    • Economic Growth
                                                                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                                                                    • Productivity
                                                                                                                                                                                    • Locations on a PPF
                                                                                                                                                                                    • Slide 128
                                                                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                    • Economic Systems
                                                                                                                                                                                    • Jigsaw activity
                                                                                                                                                                                    • Slide 132
                                                                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                                                                    • Review of Economic Systems
                                                                                                                                                                                    • Slide 135
                                                                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                                                                    • Which economic system does the US use
                                                                                                                                                                                    • The American Economic System
                                                                                                                                                                                    • The US mixed economy
                                                                                                                                                                                    • Slide 140
                                                                                                                                                                                    • Think backhellip
                                                                                                                                                                                    • US Economic System Characteristics
                                                                                                                                                                                    • Slide 143
                                                                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                                                                    • Marriage Vows
                                                                                                                                                                                    • Do you remember
                                                                                                                                                                                    • Slide 147

                                                                                                                                                                                      Political Cartoon Analysis

                                                                                                                                                                                      Factors of Production bull LAND

                                                                                                                                                                                      Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                                      soil minerals water and plants

                                                                                                                                                                                      bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                                      into producing goodsservices

                                                                                                                                                                                      bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                                      technologies

                                                                                                                                                                                      bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                                      land labor and capital to produce goods and services

                                                                                                                                                                                      TASK

                                                                                                                                                                                      bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                                      bullAnswer in 2-3 sentences

                                                                                                                                                                                      The price ofhellip

                                                                                                                                                                                      bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                                      Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                                      All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                                      1 What to produce

                                                                                                                                                                                      bullShould it be military or civilian goods

                                                                                                                                                                                      bullFood or clothingbullMedicine or movies

                                                                                                                                                                                      2 How to produce it

                                                                                                                                                                                      bullAutomated or manual labor

                                                                                                                                                                                      bullExpensive or cheap materials

                                                                                                                                                                                      bullDomestic or overseas labor

                                                                                                                                                                                      3 For whom to produce it

                                                                                                                                                                                      bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                      Application Activity

                                                                                                                                                                                      bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                      bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                      withhellip Images representing what you produce and a

                                                                                                                                                                                      slogan for why your country is awesome

                                                                                                                                                                                      EQs

                                                                                                                                                                                      bullHow does scarcity impact decision making

                                                                                                                                                                                      Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                      I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                      I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                      Group Activity Budget Activity

                                                                                                                                                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                      How do we satisfy our economic wants

                                                                                                                                                                                      bull We buy goods or services

                                                                                                                                                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                      How do we make goods amp services

                                                                                                                                                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                      Production Equation

                                                                                                                                                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                      inputs output

                                                                                                                                                                                      Economic Interdependence

                                                                                                                                                                                      bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                      bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                      bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                      country (world) has an impact on what happens elsewhere

                                                                                                                                                                                      Wants amp Needs gt

                                                                                                                                                                                      Resources

                                                                                                                                                                                      Because of scarcity we

                                                                                                                                                                                      have to make choices

                                                                                                                                                                                      How do we make a choice What do we give up

                                                                                                                                                                                      What does this remind you of from our government unit

                                                                                                                                                                                      Making Choices to Deal With Scarcity

                                                                                                                                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                      decision over another

                                                                                                                                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                      school today or should I sleep in

                                                                                                                                                                                      Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                      In the end what helped you decide amongst your choices

                                                                                                                                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                      tradeoffs for that decision

                                                                                                                                                                                      Be prepared to share

                                                                                                                                                                                      Opportunity Cost

                                                                                                                                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                      we want

                                                                                                                                                                                      What else influences your choices

                                                                                                                                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                      FinallyhellipWhy it Matters

                                                                                                                                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                      better decision-maker

                                                                                                                                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                      You always have to give something uphelliprdquo

                                                                                                                                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                      decisions

                                                                                                                                                                                      Visualizing the Relationshiphellip

                                                                                                                                                                                      Limited Resources amp Unlimited Wants

                                                                                                                                                                                      Scarcity

                                                                                                                                                                                      Trade-offs (choices)

                                                                                                                                                                                      Opportunity Costs

                                                                                                                                                                                      ObjectivesEssential Questions

                                                                                                                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                      the three different types of economies

                                                                                                                                                                                      bullEssential Question How do the different types of economies work

                                                                                                                                                                                      How Can We Measure What We Gain and Lose When

                                                                                                                                                                                      Making Choices

                                                                                                                                                                                      Answer With a Production Possibilities Frontier

                                                                                                                                                                                      Production Possibilities Frontier

                                                                                                                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                      PPF Assumptions

                                                                                                                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                      Production Possibilities Curve

                                                                                                                                                                                      CD

                                                                                                                                                                                      E

                                                                                                                                                                                      OU

                                                                                                                                                                                      TP

                                                                                                                                                                                      UT

                                                                                                                                                                                      OF

                                                                                                                                                                                      CO

                                                                                                                                                                                      NS

                                                                                                                                                                                      UM

                                                                                                                                                                                      ER

                                                                                                                                                                                      GO

                                                                                                                                                                                      OD

                                                                                                                                                                                      S

                                                                                                                                                                                      (un

                                                                                                                                                                                      its

                                                                                                                                                                                      per

                                                                                                                                                                                      yea

                                                                                                                                                                                      r)

                                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                      A

                                                                                                                                                                                      BO

                                                                                                                                                                                      XF

                                                                                                                                                                                      G

                                                                                                                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                      The Choices Nations Make

                                                                                                                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                      bullProduce military goods or consumer goods

                                                                                                                                                                                      Economic Growth

                                                                                                                                                                                      2000 production possibilities

                                                                                                                                                                                      1900 production possibilities

                                                                                                                                                                                      OU

                                                                                                                                                                                      TP

                                                                                                                                                                                      UT

                                                                                                                                                                                      OF

                                                                                                                                                                                      CO

                                                                                                                                                                                      NS

                                                                                                                                                                                      UM

                                                                                                                                                                                      ER

                                                                                                                                                                                      GO

                                                                                                                                                                                      OD

                                                                                                                                                                                      S(u

                                                                                                                                                                                      nits

                                                                                                                                                                                      per

                                                                                                                                                                                      yea

                                                                                                                                                                                      r)

                                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                      Production possibilities increases with more resources and technology

                                                                                                                                                                                      The Classic Guns and Butter example

                                                                                                                                                                                      Guns

                                                                                                                                                                                      Butter

                                                                                                                                                                                      10000 20000 30000 40000 50000

                                                                                                                                                                                      1000009500085000

                                                                                                                                                                                      70000

                                                                                                                                                                                      5000040000

                                                                                                                                                                                      BA

                                                                                                                                                                                      C

                                                                                                                                                                                      D

                                                                                                                                                                                      E

                                                                                                                                                                                      F

                                                                                                                                                                                      At point A all resources are used for butter

                                                                                                                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                      At point F all resources are used for Guns

                                                                                                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                      choices are

                                                                                                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                      Locations on a PPF

                                                                                                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                      Food

                                                                                                                                                                                      Computer

                                                                                                                                                                                      4

                                                                                                                                                                                      3

                                                                                                                                                                                      2

                                                                                                                                                                                      1

                                                                                                                                                                                      1 2 3 4

                                                                                                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                      Unit

                                                                                                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                                                                                                      additional computers

                                                                                                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                      Principle of Increasing Costs

                                                                                                                                                                                      As a society produces more of one product the OC of producing

                                                                                                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                      Economic Systems

                                                                                                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                      Jigsaw activity

                                                                                                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                                                                                                      bull Economic Freedom

                                                                                                                                                                                      bull Economic Efficiency

                                                                                                                                                                                      bull Economic Equity

                                                                                                                                                                                      bull Economic Security

                                                                                                                                                                                      Economic Stability

                                                                                                                                                                                      Economic Growth

                                                                                                                                                                                      Review of Economic Systems

                                                                                                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                      What are the most important goals of each economic system

                                                                                                                                                                                      bullTraditionalSecurity and

                                                                                                                                                                                      StabilitybullCommand

                                                                                                                                                                                      Equity and Security

                                                                                                                                                                                      bullMARKETEfficiency and

                                                                                                                                                                                      Freedom

                                                                                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                                                                                      Which economic system does the US use

                                                                                                                                                                                      The American Economic System

                                                                                                                                                                                      bullWe have a mixed market economy

                                                                                                                                                                                      COMMAND MARKET

                                                                                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                      Think backhellip

                                                                                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                      2 Limited government

                                                                                                                                                                                      3 Equal opportunity

                                                                                                                                                                                      4 Competition

                                                                                                                                                                                      5 Profit motive

                                                                                                                                                                                      6 Property Rights

                                                                                                                                                                                      7 Binding Contracts

                                                                                                                                                                                      Understanding how all parts fit together

                                                                                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                      Shows interdependence between

                                                                                                                                                                                      businesses and individuals

                                                                                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                      Do you remember

                                                                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                      democracy and mixed economy

                                                                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                                                                      • Slide 3
                                                                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                                                                      • Slide 6
                                                                                                                                                                                      • 2 How about to your life
                                                                                                                                                                                      • Slide 8
                                                                                                                                                                                      • Slide 9
                                                                                                                                                                                      • Slide 10
                                                                                                                                                                                      • Slide 11
                                                                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                                                                      • Individualism
                                                                                                                                                                                      • Quote activity
                                                                                                                                                                                      • Quote breakdown
                                                                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                                                                      • Purpose of Government
                                                                                                                                                                                      • Slide 20
                                                                                                                                                                                      • 3 Theorists
                                                                                                                                                                                      • Activity
                                                                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                      • Groups Block 2
                                                                                                                                                                                      • Groups Block 4
                                                                                                                                                                                      • Balloon Game
                                                                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                                                                      • Political Theories
                                                                                                                                                                                      • Social Contract
                                                                                                                                                                                      • Natural Rights
                                                                                                                                                                                      • Democracy
                                                                                                                                                                                      • Concepts of Government
                                                                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                                                                      • Warm Up 7
                                                                                                                                                                                      • And after the Constitution
                                                                                                                                                                                      • Activity (2)
                                                                                                                                                                                      • Picture Activity
                                                                                                                                                                                      • Constitutional Convention
                                                                                                                                                                                      • Purpose of the Convention
                                                                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                      • Your Task
                                                                                                                                                                                      • Closure
                                                                                                                                                                                      • States agree
                                                                                                                                                                                      • Quote
                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                      • 6 Purpose of Government
                                                                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                                                                      • Principles of Constitution
                                                                                                                                                                                      • Activity
                                                                                                                                                                                      • Slide 60
                                                                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                                                                      • Question 1
                                                                                                                                                                                      • Question 2
                                                                                                                                                                                      • Question 3
                                                                                                                                                                                      • Question 4
                                                                                                                                                                                      • Question 5
                                                                                                                                                                                      • Question 6
                                                                                                                                                                                      • Question 7
                                                                                                                                                                                      • Question 8
                                                                                                                                                                                      • Groups
                                                                                                                                                                                      • Separation of Powers
                                                                                                                                                                                      • Video
                                                                                                                                                                                      • Checks and Balances
                                                                                                                                                                                      • Slide 74
                                                                                                                                                                                      • Checks and balances
                                                                                                                                                                                      • Basic Principles
                                                                                                                                                                                      • Self- Worth
                                                                                                                                                                                      • Equality
                                                                                                                                                                                      • Compromise
                                                                                                                                                                                      • Individual Freedom
                                                                                                                                                                                      • Write your ownhellip
                                                                                                                                                                                      • Slide 82
                                                                                                                                                                                      • TED Talk
                                                                                                                                                                                      • Closure
                                                                                                                                                                                      • What is Economics
                                                                                                                                                                                      • Economics ishellip
                                                                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                      • For the videohellip
                                                                                                                                                                                      • Slide 90
                                                                                                                                                                                      • Post Videohellip
                                                                                                                                                                                      • Advertisement
                                                                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                                                                      • Factors of Production
                                                                                                                                                                                      • TASK
                                                                                                                                                                                      • The price ofhellip
                                                                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                      • 1 What to produce
                                                                                                                                                                                      • 2 How to produce it
                                                                                                                                                                                      • 3 For whom to produce it
                                                                                                                                                                                      • Application Activity
                                                                                                                                                                                      • EQs
                                                                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                                                                      • Slide 105
                                                                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                                                                      • How do we make goods amp services
                                                                                                                                                                                      • Economic Interdependence
                                                                                                                                                                                      • Slide 109
                                                                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                                                                      • Exampleshellip
                                                                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                      • Opportunity Cost
                                                                                                                                                                                      • What else influences your choices
                                                                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                                                                      • PPF Assumptions
                                                                                                                                                                                      • Slide 121
                                                                                                                                                                                      • Production Possibilities Curve
                                                                                                                                                                                      • The Choices Nations Make
                                                                                                                                                                                      • Economic Growth
                                                                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                                                                      • Productivity
                                                                                                                                                                                      • Locations on a PPF
                                                                                                                                                                                      • Slide 128
                                                                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                      • Economic Systems
                                                                                                                                                                                      • Jigsaw activity
                                                                                                                                                                                      • Slide 132
                                                                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                                                                      • Review of Economic Systems
                                                                                                                                                                                      • Slide 135
                                                                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                                                                      • Which economic system does the US use
                                                                                                                                                                                      • The American Economic System
                                                                                                                                                                                      • The US mixed economy
                                                                                                                                                                                      • Slide 140
                                                                                                                                                                                      • Think backhellip
                                                                                                                                                                                      • US Economic System Characteristics
                                                                                                                                                                                      • Slide 143
                                                                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                                                                      • Marriage Vows
                                                                                                                                                                                      • Do you remember
                                                                                                                                                                                      • Slide 147

                                                                                                                                                                                        Factors of Production bull LAND

                                                                                                                                                                                        Also called Natural Resources Consider them ldquogifts of naturerdquo such as air

                                                                                                                                                                                        soil minerals water and plants

                                                                                                                                                                                        bull LABOR Also called Human Resources Includes physical and mental activities that go

                                                                                                                                                                                        into producing goodsservices

                                                                                                                                                                                        bull CAPITAL Includes tools machines buildings and

                                                                                                                                                                                        technologies

                                                                                                                                                                                        bull ENTREPRENEUR Risk taker who is responsible for combining

                                                                                                                                                                                        land labor and capital to produce goods and services

                                                                                                                                                                                        TASK

                                                                                                                                                                                        bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                                        bullAnswer in 2-3 sentences

                                                                                                                                                                                        The price ofhellip

                                                                                                                                                                                        bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                                        Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                                        All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                                        1 What to produce

                                                                                                                                                                                        bullShould it be military or civilian goods

                                                                                                                                                                                        bullFood or clothingbullMedicine or movies

                                                                                                                                                                                        2 How to produce it

                                                                                                                                                                                        bullAutomated or manual labor

                                                                                                                                                                                        bullExpensive or cheap materials

                                                                                                                                                                                        bullDomestic or overseas labor

                                                                                                                                                                                        3 For whom to produce it

                                                                                                                                                                                        bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                        Application Activity

                                                                                                                                                                                        bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                        bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                        information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                        answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                        economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                        withhellip Images representing what you produce and a

                                                                                                                                                                                        slogan for why your country is awesome

                                                                                                                                                                                        EQs

                                                                                                                                                                                        bullHow does scarcity impact decision making

                                                                                                                                                                                        Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                        I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                        I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                        Group Activity Budget Activity

                                                                                                                                                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                        How do we satisfy our economic wants

                                                                                                                                                                                        bull We buy goods or services

                                                                                                                                                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                        How do we make goods amp services

                                                                                                                                                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                        Production Equation

                                                                                                                                                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                        inputs output

                                                                                                                                                                                        Economic Interdependence

                                                                                                                                                                                        bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                        bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                        bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                        country (world) has an impact on what happens elsewhere

                                                                                                                                                                                        Wants amp Needs gt

                                                                                                                                                                                        Resources

                                                                                                                                                                                        Because of scarcity we

                                                                                                                                                                                        have to make choices

                                                                                                                                                                                        How do we make a choice What do we give up

                                                                                                                                                                                        What does this remind you of from our government unit

                                                                                                                                                                                        Making Choices to Deal With Scarcity

                                                                                                                                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                        decision over another

                                                                                                                                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                        school today or should I sleep in

                                                                                                                                                                                        Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                        In the end what helped you decide amongst your choices

                                                                                                                                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                        tradeoffs for that decision

                                                                                                                                                                                        Be prepared to share

                                                                                                                                                                                        Opportunity Cost

                                                                                                                                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                        we want

                                                                                                                                                                                        What else influences your choices

                                                                                                                                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                        FinallyhellipWhy it Matters

                                                                                                                                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                        better decision-maker

                                                                                                                                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                        You always have to give something uphelliprdquo

                                                                                                                                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                        decisions

                                                                                                                                                                                        Visualizing the Relationshiphellip

                                                                                                                                                                                        Limited Resources amp Unlimited Wants

                                                                                                                                                                                        Scarcity

                                                                                                                                                                                        Trade-offs (choices)

                                                                                                                                                                                        Opportunity Costs

                                                                                                                                                                                        ObjectivesEssential Questions

                                                                                                                                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                        the three different types of economies

                                                                                                                                                                                        bullEssential Question How do the different types of economies work

                                                                                                                                                                                        How Can We Measure What We Gain and Lose When

                                                                                                                                                                                        Making Choices

                                                                                                                                                                                        Answer With a Production Possibilities Frontier

                                                                                                                                                                                        Production Possibilities Frontier

                                                                                                                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                        PPF Assumptions

                                                                                                                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                        Production Possibilities Curve

                                                                                                                                                                                        CD

                                                                                                                                                                                        E

                                                                                                                                                                                        OU

                                                                                                                                                                                        TP

                                                                                                                                                                                        UT

                                                                                                                                                                                        OF

                                                                                                                                                                                        CO

                                                                                                                                                                                        NS

                                                                                                                                                                                        UM

                                                                                                                                                                                        ER

                                                                                                                                                                                        GO

                                                                                                                                                                                        OD

                                                                                                                                                                                        S

                                                                                                                                                                                        (un

                                                                                                                                                                                        its

                                                                                                                                                                                        per

                                                                                                                                                                                        yea

                                                                                                                                                                                        r)

                                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                        A

                                                                                                                                                                                        BO

                                                                                                                                                                                        XF

                                                                                                                                                                                        G

                                                                                                                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                        The Choices Nations Make

                                                                                                                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                        bullProduce military goods or consumer goods

                                                                                                                                                                                        Economic Growth

                                                                                                                                                                                        2000 production possibilities

                                                                                                                                                                                        1900 production possibilities

                                                                                                                                                                                        OU

                                                                                                                                                                                        TP

                                                                                                                                                                                        UT

                                                                                                                                                                                        OF

                                                                                                                                                                                        CO

                                                                                                                                                                                        NS

                                                                                                                                                                                        UM

                                                                                                                                                                                        ER

                                                                                                                                                                                        GO

                                                                                                                                                                                        OD

                                                                                                                                                                                        S(u

                                                                                                                                                                                        nits

                                                                                                                                                                                        per

                                                                                                                                                                                        yea

                                                                                                                                                                                        r)

                                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                        Production possibilities increases with more resources and technology

                                                                                                                                                                                        The Classic Guns and Butter example

                                                                                                                                                                                        Guns

                                                                                                                                                                                        Butter

                                                                                                                                                                                        10000 20000 30000 40000 50000

                                                                                                                                                                                        1000009500085000

                                                                                                                                                                                        70000

                                                                                                                                                                                        5000040000

                                                                                                                                                                                        BA

                                                                                                                                                                                        C

                                                                                                                                                                                        D

                                                                                                                                                                                        E

                                                                                                                                                                                        F

                                                                                                                                                                                        At point A all resources are used for butter

                                                                                                                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                        At point F all resources are used for Guns

                                                                                                                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                        choices are

                                                                                                                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                        Locations on a PPF

                                                                                                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                        Food

                                                                                                                                                                                        Computer

                                                                                                                                                                                        4

                                                                                                                                                                                        3

                                                                                                                                                                                        2

                                                                                                                                                                                        1

                                                                                                                                                                                        1 2 3 4

                                                                                                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                        Unit

                                                                                                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                                                                                                        additional computers

                                                                                                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                        Principle of Increasing Costs

                                                                                                                                                                                        As a society produces more of one product the OC of producing

                                                                                                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                        Economic Systems

                                                                                                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                        Jigsaw activity

                                                                                                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                                                                                                        bull Economic Freedom

                                                                                                                                                                                        bull Economic Efficiency

                                                                                                                                                                                        bull Economic Equity

                                                                                                                                                                                        bull Economic Security

                                                                                                                                                                                        Economic Stability

                                                                                                                                                                                        Economic Growth

                                                                                                                                                                                        Review of Economic Systems

                                                                                                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                        What are the most important goals of each economic system

                                                                                                                                                                                        bullTraditionalSecurity and

                                                                                                                                                                                        StabilitybullCommand

                                                                                                                                                                                        Equity and Security

                                                                                                                                                                                        bullMARKETEfficiency and

                                                                                                                                                                                        Freedom

                                                                                                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                                                                                                        Which economic system does the US use

                                                                                                                                                                                        The American Economic System

                                                                                                                                                                                        bullWe have a mixed market economy

                                                                                                                                                                                        COMMAND MARKET

                                                                                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                        Think backhellip

                                                                                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                        2 Limited government

                                                                                                                                                                                        3 Equal opportunity

                                                                                                                                                                                        4 Competition

                                                                                                                                                                                        5 Profit motive

                                                                                                                                                                                        6 Property Rights

                                                                                                                                                                                        7 Binding Contracts

                                                                                                                                                                                        Understanding how all parts fit together

                                                                                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                        Shows interdependence between

                                                                                                                                                                                        businesses and individuals

                                                                                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                        Do you remember

                                                                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                        democracy and mixed economy

                                                                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                                                                        • Slide 3
                                                                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                                                                        • Slide 6
                                                                                                                                                                                        • 2 How about to your life
                                                                                                                                                                                        • Slide 8
                                                                                                                                                                                        • Slide 9
                                                                                                                                                                                        • Slide 10
                                                                                                                                                                                        • Slide 11
                                                                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                                                                        • Individualism
                                                                                                                                                                                        • Quote activity
                                                                                                                                                                                        • Quote breakdown
                                                                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                                                                        • Purpose of Government
                                                                                                                                                                                        • Slide 20
                                                                                                                                                                                        • 3 Theorists
                                                                                                                                                                                        • Activity
                                                                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                        • Groups Block 2
                                                                                                                                                                                        • Groups Block 4
                                                                                                                                                                                        • Balloon Game
                                                                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                                                                        • Political Theories
                                                                                                                                                                                        • Social Contract
                                                                                                                                                                                        • Natural Rights
                                                                                                                                                                                        • Democracy
                                                                                                                                                                                        • Concepts of Government
                                                                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                                                                        • Warm Up 7
                                                                                                                                                                                        • And after the Constitution
                                                                                                                                                                                        • Activity (2)
                                                                                                                                                                                        • Picture Activity
                                                                                                                                                                                        • Constitutional Convention
                                                                                                                                                                                        • Purpose of the Convention
                                                                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                        • Your Task
                                                                                                                                                                                        • Closure
                                                                                                                                                                                        • States agree
                                                                                                                                                                                        • Quote
                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                        • 6 Purpose of Government
                                                                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                                                                        • Principles of Constitution
                                                                                                                                                                                        • Activity
                                                                                                                                                                                        • Slide 60
                                                                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                                                                        • Question 1
                                                                                                                                                                                        • Question 2
                                                                                                                                                                                        • Question 3
                                                                                                                                                                                        • Question 4
                                                                                                                                                                                        • Question 5
                                                                                                                                                                                        • Question 6
                                                                                                                                                                                        • Question 7
                                                                                                                                                                                        • Question 8
                                                                                                                                                                                        • Groups
                                                                                                                                                                                        • Separation of Powers
                                                                                                                                                                                        • Video
                                                                                                                                                                                        • Checks and Balances
                                                                                                                                                                                        • Slide 74
                                                                                                                                                                                        • Checks and balances
                                                                                                                                                                                        • Basic Principles
                                                                                                                                                                                        • Self- Worth
                                                                                                                                                                                        • Equality
                                                                                                                                                                                        • Compromise
                                                                                                                                                                                        • Individual Freedom
                                                                                                                                                                                        • Write your ownhellip
                                                                                                                                                                                        • Slide 82
                                                                                                                                                                                        • TED Talk
                                                                                                                                                                                        • Closure
                                                                                                                                                                                        • What is Economics
                                                                                                                                                                                        • Economics ishellip
                                                                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                        • For the videohellip
                                                                                                                                                                                        • Slide 90
                                                                                                                                                                                        • Post Videohellip
                                                                                                                                                                                        • Advertisement
                                                                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                                                                        • Factors of Production
                                                                                                                                                                                        • TASK
                                                                                                                                                                                        • The price ofhellip
                                                                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                        • 1 What to produce
                                                                                                                                                                                        • 2 How to produce it
                                                                                                                                                                                        • 3 For whom to produce it
                                                                                                                                                                                        • Application Activity
                                                                                                                                                                                        • EQs
                                                                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                                                                        • Slide 105
                                                                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                                                                        • How do we make goods amp services
                                                                                                                                                                                        • Economic Interdependence
                                                                                                                                                                                        • Slide 109
                                                                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                                                                        • Exampleshellip
                                                                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                        • Opportunity Cost
                                                                                                                                                                                        • What else influences your choices
                                                                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                                                                        • PPF Assumptions
                                                                                                                                                                                        • Slide 121
                                                                                                                                                                                        • Production Possibilities Curve
                                                                                                                                                                                        • The Choices Nations Make
                                                                                                                                                                                        • Economic Growth
                                                                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                                                                        • Productivity
                                                                                                                                                                                        • Locations on a PPF
                                                                                                                                                                                        • Slide 128
                                                                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                        • Economic Systems
                                                                                                                                                                                        • Jigsaw activity
                                                                                                                                                                                        • Slide 132
                                                                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                                                                        • Review of Economic Systems
                                                                                                                                                                                        • Slide 135
                                                                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                                                                        • Which economic system does the US use
                                                                                                                                                                                        • The American Economic System
                                                                                                                                                                                        • The US mixed economy
                                                                                                                                                                                        • Slide 140
                                                                                                                                                                                        • Think backhellip
                                                                                                                                                                                        • US Economic System Characteristics
                                                                                                                                                                                        • Slide 143
                                                                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                                                                        • Marriage Vows
                                                                                                                                                                                        • Do you remember
                                                                                                                                                                                        • Slide 147

                                                                                                                                                                                          TASK

                                                                                                                                                                                          bullTask Why are entrepreneurs the driving force in our economy

                                                                                                                                                                                          bullAnswer in 2-3 sentences

                                                                                                                                                                                          The price ofhellip

                                                                                                                                                                                          bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                                          Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                                          All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                                          1 What to produce

                                                                                                                                                                                          bullShould it be military or civilian goods

                                                                                                                                                                                          bullFood or clothingbullMedicine or movies

                                                                                                                                                                                          2 How to produce it

                                                                                                                                                                                          bullAutomated or manual labor

                                                                                                                                                                                          bullExpensive or cheap materials

                                                                                                                                                                                          bullDomestic or overseas labor

                                                                                                                                                                                          3 For whom to produce it

                                                                                                                                                                                          bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                          Application Activity

                                                                                                                                                                                          bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                          bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                          information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                          answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                          economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                          withhellip Images representing what you produce and a

                                                                                                                                                                                          slogan for why your country is awesome

                                                                                                                                                                                          EQs

                                                                                                                                                                                          bullHow does scarcity impact decision making

                                                                                                                                                                                          Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                          I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                          I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                          Group Activity Budget Activity

                                                                                                                                                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                          How do we satisfy our economic wants

                                                                                                                                                                                          bull We buy goods or services

                                                                                                                                                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                          How do we make goods amp services

                                                                                                                                                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                          Production Equation

                                                                                                                                                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                          inputs output

                                                                                                                                                                                          Economic Interdependence

                                                                                                                                                                                          bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                          bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                          bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                          country (world) has an impact on what happens elsewhere

                                                                                                                                                                                          Wants amp Needs gt

                                                                                                                                                                                          Resources

                                                                                                                                                                                          Because of scarcity we

                                                                                                                                                                                          have to make choices

                                                                                                                                                                                          How do we make a choice What do we give up

                                                                                                                                                                                          What does this remind you of from our government unit

                                                                                                                                                                                          Making Choices to Deal With Scarcity

                                                                                                                                                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                          decision over another

                                                                                                                                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                          school today or should I sleep in

                                                                                                                                                                                          Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                          In the end what helped you decide amongst your choices

                                                                                                                                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                          tradeoffs for that decision

                                                                                                                                                                                          Be prepared to share

                                                                                                                                                                                          Opportunity Cost

                                                                                                                                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                          we want

                                                                                                                                                                                          What else influences your choices

                                                                                                                                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                          FinallyhellipWhy it Matters

                                                                                                                                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                          better decision-maker

                                                                                                                                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                          You always have to give something uphelliprdquo

                                                                                                                                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                          decisions

                                                                                                                                                                                          Visualizing the Relationshiphellip

                                                                                                                                                                                          Limited Resources amp Unlimited Wants

                                                                                                                                                                                          Scarcity

                                                                                                                                                                                          Trade-offs (choices)

                                                                                                                                                                                          Opportunity Costs

                                                                                                                                                                                          ObjectivesEssential Questions

                                                                                                                                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                          the three different types of economies

                                                                                                                                                                                          bullEssential Question How do the different types of economies work

                                                                                                                                                                                          How Can We Measure What We Gain and Lose When

                                                                                                                                                                                          Making Choices

                                                                                                                                                                                          Answer With a Production Possibilities Frontier

                                                                                                                                                                                          Production Possibilities Frontier

                                                                                                                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                          PPF Assumptions

                                                                                                                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                          Production Possibilities Curve

                                                                                                                                                                                          CD

                                                                                                                                                                                          E

                                                                                                                                                                                          OU

                                                                                                                                                                                          TP

                                                                                                                                                                                          UT

                                                                                                                                                                                          OF

                                                                                                                                                                                          CO

                                                                                                                                                                                          NS

                                                                                                                                                                                          UM

                                                                                                                                                                                          ER

                                                                                                                                                                                          GO

                                                                                                                                                                                          OD

                                                                                                                                                                                          S

                                                                                                                                                                                          (un

                                                                                                                                                                                          its

                                                                                                                                                                                          per

                                                                                                                                                                                          yea

                                                                                                                                                                                          r)

                                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                          A

                                                                                                                                                                                          BO

                                                                                                                                                                                          XF

                                                                                                                                                                                          G

                                                                                                                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                          The Choices Nations Make

                                                                                                                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                          bullProduce military goods or consumer goods

                                                                                                                                                                                          Economic Growth

                                                                                                                                                                                          2000 production possibilities

                                                                                                                                                                                          1900 production possibilities

                                                                                                                                                                                          OU

                                                                                                                                                                                          TP

                                                                                                                                                                                          UT

                                                                                                                                                                                          OF

                                                                                                                                                                                          CO

                                                                                                                                                                                          NS

                                                                                                                                                                                          UM

                                                                                                                                                                                          ER

                                                                                                                                                                                          GO

                                                                                                                                                                                          OD

                                                                                                                                                                                          S(u

                                                                                                                                                                                          nits

                                                                                                                                                                                          per

                                                                                                                                                                                          yea

                                                                                                                                                                                          r)

                                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                          Production possibilities increases with more resources and technology

                                                                                                                                                                                          The Classic Guns and Butter example

                                                                                                                                                                                          Guns

                                                                                                                                                                                          Butter

                                                                                                                                                                                          10000 20000 30000 40000 50000

                                                                                                                                                                                          1000009500085000

                                                                                                                                                                                          70000

                                                                                                                                                                                          5000040000

                                                                                                                                                                                          BA

                                                                                                                                                                                          C

                                                                                                                                                                                          D

                                                                                                                                                                                          E

                                                                                                                                                                                          F

                                                                                                                                                                                          At point A all resources are used for butter

                                                                                                                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                          At point F all resources are used for Guns

                                                                                                                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                          choices are

                                                                                                                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                          Locations on a PPF

                                                                                                                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                          Food

                                                                                                                                                                                          Computer

                                                                                                                                                                                          4

                                                                                                                                                                                          3

                                                                                                                                                                                          2

                                                                                                                                                                                          1

                                                                                                                                                                                          1 2 3 4

                                                                                                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                          Unit

                                                                                                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                                                                                                          additional computers

                                                                                                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                          Principle of Increasing Costs

                                                                                                                                                                                          As a society produces more of one product the OC of producing

                                                                                                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                          Economic Systems

                                                                                                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                          Jigsaw activity

                                                                                                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                                                                                                          bull Economic Freedom

                                                                                                                                                                                          bull Economic Efficiency

                                                                                                                                                                                          bull Economic Equity

                                                                                                                                                                                          bull Economic Security

                                                                                                                                                                                          Economic Stability

                                                                                                                                                                                          Economic Growth

                                                                                                                                                                                          Review of Economic Systems

                                                                                                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                          What are the most important goals of each economic system

                                                                                                                                                                                          bullTraditionalSecurity and

                                                                                                                                                                                          StabilitybullCommand

                                                                                                                                                                                          Equity and Security

                                                                                                                                                                                          bullMARKETEfficiency and

                                                                                                                                                                                          Freedom

                                                                                                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                                                                                                          Which economic system does the US use

                                                                                                                                                                                          The American Economic System

                                                                                                                                                                                          bullWe have a mixed market economy

                                                                                                                                                                                          COMMAND MARKET

                                                                                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                          Think backhellip

                                                                                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                          2 Limited government

                                                                                                                                                                                          3 Equal opportunity

                                                                                                                                                                                          4 Competition

                                                                                                                                                                                          5 Profit motive

                                                                                                                                                                                          6 Property Rights

                                                                                                                                                                                          7 Binding Contracts

                                                                                                                                                                                          Understanding how all parts fit together

                                                                                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                          Shows interdependence between

                                                                                                                                                                                          businesses and individuals

                                                                                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                          Do you remember

                                                                                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                          democracy and mixed economy

                                                                                                                                                                                          • Foundations of Government and Economics
                                                                                                                                                                                          • On your blank piece of paperhellip
                                                                                                                                                                                          • Slide 3
                                                                                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                                                                                          • Introductory thoughts hellip
                                                                                                                                                                                          • Slide 6
                                                                                                                                                                                          • 2 How about to your life
                                                                                                                                                                                          • Slide 8
                                                                                                                                                                                          • Slide 9
                                                                                                                                                                                          • Slide 10
                                                                                                                                                                                          • Slide 11
                                                                                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                                                                                          • Economist and Politician Assumptions
                                                                                                                                                                                          • Individualism
                                                                                                                                                                                          • Quote activity
                                                                                                                                                                                          • Quote breakdown
                                                                                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                                                                                          • Purpose of Government
                                                                                                                                                                                          • Slide 20
                                                                                                                                                                                          • 3 Theorists
                                                                                                                                                                                          • Activity
                                                                                                                                                                                          • Origins of American Government A customized government
                                                                                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                                                                                          • With which theory do you agree more Why
                                                                                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                          • Groups Block 2
                                                                                                                                                                                          • Groups Block 4
                                                                                                                                                                                          • Balloon Game
                                                                                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                          • Balloon Game Debriefing
                                                                                                                                                                                          • Political Theories
                                                                                                                                                                                          • Social Contract
                                                                                                                                                                                          • Natural Rights
                                                                                                                                                                                          • Democracy
                                                                                                                                                                                          • Concepts of Government
                                                                                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                                                                                          • Warm Up 7
                                                                                                                                                                                          • And after the Constitution
                                                                                                                                                                                          • Activity (2)
                                                                                                                                                                                          • Picture Activity
                                                                                                                                                                                          • Constitutional Convention
                                                                                                                                                                                          • Purpose of the Convention
                                                                                                                                                                                          • VA Plan v NJ Plan
                                                                                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                          • Your Task
                                                                                                                                                                                          • Closure
                                                                                                                                                                                          • States agree
                                                                                                                                                                                          • Quote
                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                          • 6 Purpose of Government
                                                                                                                                                                                          • Structure of Constitution (2)
                                                                                                                                                                                          • Structure of Constitution (3)
                                                                                                                                                                                          • Principles of Constitution
                                                                                                                                                                                          • Activity
                                                                                                                                                                                          • Slide 60
                                                                                                                                                                                          • Check for Understanding Six Principles
                                                                                                                                                                                          • Question 1
                                                                                                                                                                                          • Question 2
                                                                                                                                                                                          • Question 3
                                                                                                                                                                                          • Question 4
                                                                                                                                                                                          • Question 5
                                                                                                                                                                                          • Question 6
                                                                                                                                                                                          • Question 7
                                                                                                                                                                                          • Question 8
                                                                                                                                                                                          • Groups
                                                                                                                                                                                          • Separation of Powers
                                                                                                                                                                                          • Video
                                                                                                                                                                                          • Checks and Balances
                                                                                                                                                                                          • Slide 74
                                                                                                                                                                                          • Checks and balances
                                                                                                                                                                                          • Basic Principles
                                                                                                                                                                                          • Self- Worth
                                                                                                                                                                                          • Equality
                                                                                                                                                                                          • Compromise
                                                                                                                                                                                          • Individual Freedom
                                                                                                                                                                                          • Write your ownhellip
                                                                                                                                                                                          • Slide 82
                                                                                                                                                                                          • TED Talk
                                                                                                                                                                                          • Closure
                                                                                                                                                                                          • What is Economics
                                                                                                                                                                                          • Economics ishellip
                                                                                                                                                                                          • Back to our assumptionshellip
                                                                                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                          • For the videohellip
                                                                                                                                                                                          • Slide 90
                                                                                                                                                                                          • Post Videohellip
                                                                                                                                                                                          • Advertisement
                                                                                                                                                                                          • Political Cartoon Analysis
                                                                                                                                                                                          • Factors of Production
                                                                                                                                                                                          • TASK
                                                                                                                                                                                          • The price ofhellip
                                                                                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                          • 1 What to produce
                                                                                                                                                                                          • 2 How to produce it
                                                                                                                                                                                          • 3 For whom to produce it
                                                                                                                                                                                          • Application Activity
                                                                                                                                                                                          • EQs
                                                                                                                                                                                          • Objectives amp Essential Questions
                                                                                                                                                                                          • Group Activity Budget Activity
                                                                                                                                                                                          • Slide 105
                                                                                                                                                                                          • How do we satisfy our economic wants
                                                                                                                                                                                          • How do we make goods amp services
                                                                                                                                                                                          • Economic Interdependence
                                                                                                                                                                                          • Slide 109
                                                                                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                                                                                          • Exampleshellip
                                                                                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                          • Opportunity Cost
                                                                                                                                                                                          • What else influences your choices
                                                                                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                                                                                          • ObjectivesEssential Questions
                                                                                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                          • Production Possibilities Frontier
                                                                                                                                                                                          • PPF Assumptions
                                                                                                                                                                                          • Slide 121
                                                                                                                                                                                          • Production Possibilities Curve
                                                                                                                                                                                          • The Choices Nations Make
                                                                                                                                                                                          • Economic Growth
                                                                                                                                                                                          • The Classic Guns and Butter example
                                                                                                                                                                                          • Productivity
                                                                                                                                                                                          • Locations on a PPF
                                                                                                                                                                                          • Slide 128
                                                                                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                          • Economic Systems
                                                                                                                                                                                          • Jigsaw activity
                                                                                                                                                                                          • Slide 132
                                                                                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                                                                                          • Review of Economic Systems
                                                                                                                                                                                          • Slide 135
                                                                                                                                                                                          • What are the most important goals of each economic system
                                                                                                                                                                                          • Which economic system does the US use
                                                                                                                                                                                          • The American Economic System
                                                                                                                                                                                          • The US mixed economy
                                                                                                                                                                                          • Slide 140
                                                                                                                                                                                          • Think backhellip
                                                                                                                                                                                          • US Economic System Characteristics
                                                                                                                                                                                          • Slide 143
                                                                                                                                                                                          • Understanding how all parts fit together
                                                                                                                                                                                          • Marriage Vows
                                                                                                                                                                                          • Do you remember
                                                                                                                                                                                          • Slide 147

                                                                                                                                                                                            The price ofhellip

                                                                                                                                                                                            bullLand is rentbullCapital is interestbullLabor is wagesbullEntrepreneurship is profit

                                                                                                                                                                                            Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                                            All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                                            1 What to produce

                                                                                                                                                                                            bullShould it be military or civilian goods

                                                                                                                                                                                            bullFood or clothingbullMedicine or movies

                                                                                                                                                                                            2 How to produce it

                                                                                                                                                                                            bullAutomated or manual labor

                                                                                                                                                                                            bullExpensive or cheap materials

                                                                                                                                                                                            bullDomestic or overseas labor

                                                                                                                                                                                            3 For whom to produce it

                                                                                                                                                                                            bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                            Application Activity

                                                                                                                                                                                            bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                            bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                            information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                            answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                            economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                            withhellip Images representing what you produce and a

                                                                                                                                                                                            slogan for why your country is awesome

                                                                                                                                                                                            EQs

                                                                                                                                                                                            bullHow does scarcity impact decision making

                                                                                                                                                                                            Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                            I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                            I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                            bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                            Group Activity Budget Activity

                                                                                                                                                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                            How do we satisfy our economic wants

                                                                                                                                                                                            bull We buy goods or services

                                                                                                                                                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                            How do we make goods amp services

                                                                                                                                                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                            Production Equation

                                                                                                                                                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                            inputs output

                                                                                                                                                                                            Economic Interdependence

                                                                                                                                                                                            bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                            bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                            bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                            country (world) has an impact on what happens elsewhere

                                                                                                                                                                                            Wants amp Needs gt

                                                                                                                                                                                            Resources

                                                                                                                                                                                            Because of scarcity we

                                                                                                                                                                                            have to make choices

                                                                                                                                                                                            How do we make a choice What do we give up

                                                                                                                                                                                            What does this remind you of from our government unit

                                                                                                                                                                                            Making Choices to Deal With Scarcity

                                                                                                                                                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                            decision over another

                                                                                                                                                                                            ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                            school today or should I sleep in

                                                                                                                                                                                            Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                            In the end what helped you decide amongst your choices

                                                                                                                                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                            tradeoffs for that decision

                                                                                                                                                                                            Be prepared to share

                                                                                                                                                                                            Opportunity Cost

                                                                                                                                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                            we want

                                                                                                                                                                                            What else influences your choices

                                                                                                                                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                            FinallyhellipWhy it Matters

                                                                                                                                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                            better decision-maker

                                                                                                                                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                            You always have to give something uphelliprdquo

                                                                                                                                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                            decisions

                                                                                                                                                                                            Visualizing the Relationshiphellip

                                                                                                                                                                                            Limited Resources amp Unlimited Wants

                                                                                                                                                                                            Scarcity

                                                                                                                                                                                            Trade-offs (choices)

                                                                                                                                                                                            Opportunity Costs

                                                                                                                                                                                            ObjectivesEssential Questions

                                                                                                                                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                            the three different types of economies

                                                                                                                                                                                            bullEssential Question How do the different types of economies work

                                                                                                                                                                                            How Can We Measure What We Gain and Lose When

                                                                                                                                                                                            Making Choices

                                                                                                                                                                                            Answer With a Production Possibilities Frontier

                                                                                                                                                                                            Production Possibilities Frontier

                                                                                                                                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                            PPF Assumptions

                                                                                                                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                            Production Possibilities Curve

                                                                                                                                                                                            CD

                                                                                                                                                                                            E

                                                                                                                                                                                            OU

                                                                                                                                                                                            TP

                                                                                                                                                                                            UT

                                                                                                                                                                                            OF

                                                                                                                                                                                            CO

                                                                                                                                                                                            NS

                                                                                                                                                                                            UM

                                                                                                                                                                                            ER

                                                                                                                                                                                            GO

                                                                                                                                                                                            OD

                                                                                                                                                                                            S

                                                                                                                                                                                            (un

                                                                                                                                                                                            its

                                                                                                                                                                                            per

                                                                                                                                                                                            yea

                                                                                                                                                                                            r)

                                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                            A

                                                                                                                                                                                            BO

                                                                                                                                                                                            XF

                                                                                                                                                                                            G

                                                                                                                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                            The Choices Nations Make

                                                                                                                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                            bullProduce military goods or consumer goods

                                                                                                                                                                                            Economic Growth

                                                                                                                                                                                            2000 production possibilities

                                                                                                                                                                                            1900 production possibilities

                                                                                                                                                                                            OU

                                                                                                                                                                                            TP

                                                                                                                                                                                            UT

                                                                                                                                                                                            OF

                                                                                                                                                                                            CO

                                                                                                                                                                                            NS

                                                                                                                                                                                            UM

                                                                                                                                                                                            ER

                                                                                                                                                                                            GO

                                                                                                                                                                                            OD

                                                                                                                                                                                            S(u

                                                                                                                                                                                            nits

                                                                                                                                                                                            per

                                                                                                                                                                                            yea

                                                                                                                                                                                            r)

                                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                            Production possibilities increases with more resources and technology

                                                                                                                                                                                            The Classic Guns and Butter example

                                                                                                                                                                                            Guns

                                                                                                                                                                                            Butter

                                                                                                                                                                                            10000 20000 30000 40000 50000

                                                                                                                                                                                            1000009500085000

                                                                                                                                                                                            70000

                                                                                                                                                                                            5000040000

                                                                                                                                                                                            BA

                                                                                                                                                                                            C

                                                                                                                                                                                            D

                                                                                                                                                                                            E

                                                                                                                                                                                            F

                                                                                                                                                                                            At point A all resources are used for butter

                                                                                                                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                            At point F all resources are used for Guns

                                                                                                                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                            choices are

                                                                                                                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                            Locations on a PPF

                                                                                                                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                            Food

                                                                                                                                                                                            Computer

                                                                                                                                                                                            4

                                                                                                                                                                                            3

                                                                                                                                                                                            2

                                                                                                                                                                                            1

                                                                                                                                                                                            1 2 3 4

                                                                                                                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                            Unit

                                                                                                                                                                                            Constantly giving up the same quantity of food to get

                                                                                                                                                                                            additional computers

                                                                                                                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                            Principle of Increasing Costs

                                                                                                                                                                                            As a society produces more of one product the OC of producing

                                                                                                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                            Economic Systems

                                                                                                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                            Jigsaw activity

                                                                                                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                                                                                                            bull Economic Freedom

                                                                                                                                                                                            bull Economic Efficiency

                                                                                                                                                                                            bull Economic Equity

                                                                                                                                                                                            bull Economic Security

                                                                                                                                                                                            Economic Stability

                                                                                                                                                                                            Economic Growth

                                                                                                                                                                                            Review of Economic Systems

                                                                                                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                            What are the most important goals of each economic system

                                                                                                                                                                                            bullTraditionalSecurity and

                                                                                                                                                                                            StabilitybullCommand

                                                                                                                                                                                            Equity and Security

                                                                                                                                                                                            bullMARKETEfficiency and

                                                                                                                                                                                            Freedom

                                                                                                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                                                                                                            Which economic system does the US use

                                                                                                                                                                                            The American Economic System

                                                                                                                                                                                            bullWe have a mixed market economy

                                                                                                                                                                                            COMMAND MARKET

                                                                                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                            Think backhellip

                                                                                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                            2 Limited government

                                                                                                                                                                                            3 Equal opportunity

                                                                                                                                                                                            4 Competition

                                                                                                                                                                                            5 Profit motive

                                                                                                                                                                                            6 Property Rights

                                                                                                                                                                                            7 Binding Contracts

                                                                                                                                                                                            Understanding how all parts fit together

                                                                                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                            Shows interdependence between

                                                                                                                                                                                            businesses and individuals

                                                                                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                            Do you remember

                                                                                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                            democracy and mixed economy

                                                                                                                                                                                            • Foundations of Government and Economics
                                                                                                                                                                                            • On your blank piece of paperhellip
                                                                                                                                                                                            • Slide 3
                                                                                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                                                                                            • Introductory thoughts hellip
                                                                                                                                                                                            • Slide 6
                                                                                                                                                                                            • 2 How about to your life
                                                                                                                                                                                            • Slide 8
                                                                                                                                                                                            • Slide 9
                                                                                                                                                                                            • Slide 10
                                                                                                                                                                                            • Slide 11
                                                                                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                                                                                            • Economist and Politician Assumptions
                                                                                                                                                                                            • Individualism
                                                                                                                                                                                            • Quote activity
                                                                                                                                                                                            • Quote breakdown
                                                                                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                                                                                            • Purpose of Government
                                                                                                                                                                                            • Slide 20
                                                                                                                                                                                            • 3 Theorists
                                                                                                                                                                                            • Activity
                                                                                                                                                                                            • Origins of American Government A customized government
                                                                                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                                                                                            • With which theory do you agree more Why
                                                                                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                            • Groups Block 2
                                                                                                                                                                                            • Groups Block 4
                                                                                                                                                                                            • Balloon Game
                                                                                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                            • Balloon Game Debriefing
                                                                                                                                                                                            • Political Theories
                                                                                                                                                                                            • Social Contract
                                                                                                                                                                                            • Natural Rights
                                                                                                                                                                                            • Democracy
                                                                                                                                                                                            • Concepts of Government
                                                                                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                                                                                            • Warm Up 7
                                                                                                                                                                                            • And after the Constitution
                                                                                                                                                                                            • Activity (2)
                                                                                                                                                                                            • Picture Activity
                                                                                                                                                                                            • Constitutional Convention
                                                                                                                                                                                            • Purpose of the Convention
                                                                                                                                                                                            • VA Plan v NJ Plan
                                                                                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                            • Your Task
                                                                                                                                                                                            • Closure
                                                                                                                                                                                            • States agree
                                                                                                                                                                                            • Quote
                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                            • 6 Purpose of Government
                                                                                                                                                                                            • Structure of Constitution (2)
                                                                                                                                                                                            • Structure of Constitution (3)
                                                                                                                                                                                            • Principles of Constitution
                                                                                                                                                                                            • Activity
                                                                                                                                                                                            • Slide 60
                                                                                                                                                                                            • Check for Understanding Six Principles
                                                                                                                                                                                            • Question 1
                                                                                                                                                                                            • Question 2
                                                                                                                                                                                            • Question 3
                                                                                                                                                                                            • Question 4
                                                                                                                                                                                            • Question 5
                                                                                                                                                                                            • Question 6
                                                                                                                                                                                            • Question 7
                                                                                                                                                                                            • Question 8
                                                                                                                                                                                            • Groups
                                                                                                                                                                                            • Separation of Powers
                                                                                                                                                                                            • Video
                                                                                                                                                                                            • Checks and Balances
                                                                                                                                                                                            • Slide 74
                                                                                                                                                                                            • Checks and balances
                                                                                                                                                                                            • Basic Principles
                                                                                                                                                                                            • Self- Worth
                                                                                                                                                                                            • Equality
                                                                                                                                                                                            • Compromise
                                                                                                                                                                                            • Individual Freedom
                                                                                                                                                                                            • Write your ownhellip
                                                                                                                                                                                            • Slide 82
                                                                                                                                                                                            • TED Talk
                                                                                                                                                                                            • Closure
                                                                                                                                                                                            • What is Economics
                                                                                                                                                                                            • Economics ishellip
                                                                                                                                                                                            • Back to our assumptionshellip
                                                                                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                            • For the videohellip
                                                                                                                                                                                            • Slide 90
                                                                                                                                                                                            • Post Videohellip
                                                                                                                                                                                            • Advertisement
                                                                                                                                                                                            • Political Cartoon Analysis
                                                                                                                                                                                            • Factors of Production
                                                                                                                                                                                            • TASK
                                                                                                                                                                                            • The price ofhellip
                                                                                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                            • 1 What to produce
                                                                                                                                                                                            • 2 How to produce it
                                                                                                                                                                                            • 3 For whom to produce it
                                                                                                                                                                                            • Application Activity
                                                                                                                                                                                            • EQs
                                                                                                                                                                                            • Objectives amp Essential Questions
                                                                                                                                                                                            • Group Activity Budget Activity
                                                                                                                                                                                            • Slide 105
                                                                                                                                                                                            • How do we satisfy our economic wants
                                                                                                                                                                                            • How do we make goods amp services
                                                                                                                                                                                            • Economic Interdependence
                                                                                                                                                                                            • Slide 109
                                                                                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                                                                                            • Exampleshellip
                                                                                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                            • Opportunity Cost
                                                                                                                                                                                            • What else influences your choices
                                                                                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                                                                                            • ObjectivesEssential Questions
                                                                                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                            • Production Possibilities Frontier
                                                                                                                                                                                            • PPF Assumptions
                                                                                                                                                                                            • Slide 121
                                                                                                                                                                                            • Production Possibilities Curve
                                                                                                                                                                                            • The Choices Nations Make
                                                                                                                                                                                            • Economic Growth
                                                                                                                                                                                            • The Classic Guns and Butter example
                                                                                                                                                                                            • Productivity
                                                                                                                                                                                            • Locations on a PPF
                                                                                                                                                                                            • Slide 128
                                                                                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                            • Economic Systems
                                                                                                                                                                                            • Jigsaw activity
                                                                                                                                                                                            • Slide 132
                                                                                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                                                                                            • Review of Economic Systems
                                                                                                                                                                                            • Slide 135
                                                                                                                                                                                            • What are the most important goals of each economic system
                                                                                                                                                                                            • Which economic system does the US use
                                                                                                                                                                                            • The American Economic System
                                                                                                                                                                                            • The US mixed economy
                                                                                                                                                                                            • Slide 140
                                                                                                                                                                                            • Think backhellip
                                                                                                                                                                                            • US Economic System Characteristics
                                                                                                                                                                                            • Slide 143
                                                                                                                                                                                            • Understanding how all parts fit together
                                                                                                                                                                                            • Marriage Vows
                                                                                                                                                                                            • Do you remember
                                                                                                                                                                                            • Slide 147

                                                                                                                                                                                              Economic efficiency is achieved when all available resources are being used

                                                                                                                                                                                              All societies must answer three basic questions to satisfy the needs and wants of their populations

                                                                                                                                                                                              1 What to produce

                                                                                                                                                                                              bullShould it be military or civilian goods

                                                                                                                                                                                              bullFood or clothingbullMedicine or movies

                                                                                                                                                                                              2 How to produce it

                                                                                                                                                                                              bullAutomated or manual labor

                                                                                                                                                                                              bullExpensive or cheap materials

                                                                                                                                                                                              bullDomestic or overseas labor

                                                                                                                                                                                              3 For whom to produce it

                                                                                                                                                                                              bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                              Application Activity

                                                                                                                                                                                              bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                              bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                              information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                              answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                              economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                              withhellip Images representing what you produce and a

                                                                                                                                                                                              slogan for why your country is awesome

                                                                                                                                                                                              EQs

                                                                                                                                                                                              bullHow does scarcity impact decision making

                                                                                                                                                                                              Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                              I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                              I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                              bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                              Group Activity Budget Activity

                                                                                                                                                                                              bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                              bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                              How do we satisfy our economic wants

                                                                                                                                                                                              bull We buy goods or services

                                                                                                                                                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                              How do we make goods amp services

                                                                                                                                                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                              Production Equation

                                                                                                                                                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                              inputs output

                                                                                                                                                                                              Economic Interdependence

                                                                                                                                                                                              bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                              bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                              bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                              country (world) has an impact on what happens elsewhere

                                                                                                                                                                                              Wants amp Needs gt

                                                                                                                                                                                              Resources

                                                                                                                                                                                              Because of scarcity we

                                                                                                                                                                                              have to make choices

                                                                                                                                                                                              How do we make a choice What do we give up

                                                                                                                                                                                              What does this remind you of from our government unit

                                                                                                                                                                                              Making Choices to Deal With Scarcity

                                                                                                                                                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                              decision over another

                                                                                                                                                                                              ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                              school today or should I sleep in

                                                                                                                                                                                              Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                              In the end what helped you decide amongst your choices

                                                                                                                                                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                              tradeoffs for that decision

                                                                                                                                                                                              Be prepared to share

                                                                                                                                                                                              Opportunity Cost

                                                                                                                                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                              we want

                                                                                                                                                                                              What else influences your choices

                                                                                                                                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                              FinallyhellipWhy it Matters

                                                                                                                                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                              better decision-maker

                                                                                                                                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                              You always have to give something uphelliprdquo

                                                                                                                                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                              decisions

                                                                                                                                                                                              Visualizing the Relationshiphellip

                                                                                                                                                                                              Limited Resources amp Unlimited Wants

                                                                                                                                                                                              Scarcity

                                                                                                                                                                                              Trade-offs (choices)

                                                                                                                                                                                              Opportunity Costs

                                                                                                                                                                                              ObjectivesEssential Questions

                                                                                                                                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                              the three different types of economies

                                                                                                                                                                                              bullEssential Question How do the different types of economies work

                                                                                                                                                                                              How Can We Measure What We Gain and Lose When

                                                                                                                                                                                              Making Choices

                                                                                                                                                                                              Answer With a Production Possibilities Frontier

                                                                                                                                                                                              Production Possibilities Frontier

                                                                                                                                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                              PPF Assumptions

                                                                                                                                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                              Production Possibilities Curve

                                                                                                                                                                                              CD

                                                                                                                                                                                              E

                                                                                                                                                                                              OU

                                                                                                                                                                                              TP

                                                                                                                                                                                              UT

                                                                                                                                                                                              OF

                                                                                                                                                                                              CO

                                                                                                                                                                                              NS

                                                                                                                                                                                              UM

                                                                                                                                                                                              ER

                                                                                                                                                                                              GO

                                                                                                                                                                                              OD

                                                                                                                                                                                              S

                                                                                                                                                                                              (un

                                                                                                                                                                                              its

                                                                                                                                                                                              per

                                                                                                                                                                                              yea

                                                                                                                                                                                              r)

                                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                              A

                                                                                                                                                                                              BO

                                                                                                                                                                                              XF

                                                                                                                                                                                              G

                                                                                                                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                              The Choices Nations Make

                                                                                                                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                              bullProduce military goods or consumer goods

                                                                                                                                                                                              Economic Growth

                                                                                                                                                                                              2000 production possibilities

                                                                                                                                                                                              1900 production possibilities

                                                                                                                                                                                              OU

                                                                                                                                                                                              TP

                                                                                                                                                                                              UT

                                                                                                                                                                                              OF

                                                                                                                                                                                              CO

                                                                                                                                                                                              NS

                                                                                                                                                                                              UM

                                                                                                                                                                                              ER

                                                                                                                                                                                              GO

                                                                                                                                                                                              OD

                                                                                                                                                                                              S(u

                                                                                                                                                                                              nits

                                                                                                                                                                                              per

                                                                                                                                                                                              yea

                                                                                                                                                                                              r)

                                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                              Production possibilities increases with more resources and technology

                                                                                                                                                                                              The Classic Guns and Butter example

                                                                                                                                                                                              Guns

                                                                                                                                                                                              Butter

                                                                                                                                                                                              10000 20000 30000 40000 50000

                                                                                                                                                                                              1000009500085000

                                                                                                                                                                                              70000

                                                                                                                                                                                              5000040000

                                                                                                                                                                                              BA

                                                                                                                                                                                              C

                                                                                                                                                                                              D

                                                                                                                                                                                              E

                                                                                                                                                                                              F

                                                                                                                                                                                              At point A all resources are used for butter

                                                                                                                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                              At point F all resources are used for Guns

                                                                                                                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                              choices are

                                                                                                                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                              Locations on a PPF

                                                                                                                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                              Food

                                                                                                                                                                                              Computer

                                                                                                                                                                                              4

                                                                                                                                                                                              3

                                                                                                                                                                                              2

                                                                                                                                                                                              1

                                                                                                                                                                                              1 2 3 4

                                                                                                                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                              Unit

                                                                                                                                                                                              Constantly giving up the same quantity of food to get

                                                                                                                                                                                              additional computers

                                                                                                                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                              Principle of Increasing Costs

                                                                                                                                                                                              As a society produces more of one product the OC of producing

                                                                                                                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                              Economic Systems

                                                                                                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                              Jigsaw activity

                                                                                                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                                                                                                              bull Economic Freedom

                                                                                                                                                                                              bull Economic Efficiency

                                                                                                                                                                                              bull Economic Equity

                                                                                                                                                                                              bull Economic Security

                                                                                                                                                                                              Economic Stability

                                                                                                                                                                                              Economic Growth

                                                                                                                                                                                              Review of Economic Systems

                                                                                                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                              What are the most important goals of each economic system

                                                                                                                                                                                              bullTraditionalSecurity and

                                                                                                                                                                                              StabilitybullCommand

                                                                                                                                                                                              Equity and Security

                                                                                                                                                                                              bullMARKETEfficiency and

                                                                                                                                                                                              Freedom

                                                                                                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                                                                                                              Which economic system does the US use

                                                                                                                                                                                              The American Economic System

                                                                                                                                                                                              bullWe have a mixed market economy

                                                                                                                                                                                              COMMAND MARKET

                                                                                                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                              Think backhellip

                                                                                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                              2 Limited government

                                                                                                                                                                                              3 Equal opportunity

                                                                                                                                                                                              4 Competition

                                                                                                                                                                                              5 Profit motive

                                                                                                                                                                                              6 Property Rights

                                                                                                                                                                                              7 Binding Contracts

                                                                                                                                                                                              Understanding how all parts fit together

                                                                                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                              Shows interdependence between

                                                                                                                                                                                              businesses and individuals

                                                                                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                              Do you remember

                                                                                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                              democracy and mixed economy

                                                                                                                                                                                              • Foundations of Government and Economics
                                                                                                                                                                                              • On your blank piece of paperhellip
                                                                                                                                                                                              • Slide 3
                                                                                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                                                                                              • Introductory thoughts hellip
                                                                                                                                                                                              • Slide 6
                                                                                                                                                                                              • 2 How about to your life
                                                                                                                                                                                              • Slide 8
                                                                                                                                                                                              • Slide 9
                                                                                                                                                                                              • Slide 10
                                                                                                                                                                                              • Slide 11
                                                                                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                                                                                              • Economist and Politician Assumptions
                                                                                                                                                                                              • Individualism
                                                                                                                                                                                              • Quote activity
                                                                                                                                                                                              • Quote breakdown
                                                                                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                                                                                              • Purpose of Government
                                                                                                                                                                                              • Slide 20
                                                                                                                                                                                              • 3 Theorists
                                                                                                                                                                                              • Activity
                                                                                                                                                                                              • Origins of American Government A customized government
                                                                                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                                                                                              • With which theory do you agree more Why
                                                                                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                              • Groups Block 2
                                                                                                                                                                                              • Groups Block 4
                                                                                                                                                                                              • Balloon Game
                                                                                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                              • Balloon Game Debriefing
                                                                                                                                                                                              • Political Theories
                                                                                                                                                                                              • Social Contract
                                                                                                                                                                                              • Natural Rights
                                                                                                                                                                                              • Democracy
                                                                                                                                                                                              • Concepts of Government
                                                                                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                                                                                              • Warm Up 7
                                                                                                                                                                                              • And after the Constitution
                                                                                                                                                                                              • Activity (2)
                                                                                                                                                                                              • Picture Activity
                                                                                                                                                                                              • Constitutional Convention
                                                                                                                                                                                              • Purpose of the Convention
                                                                                                                                                                                              • VA Plan v NJ Plan
                                                                                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                              • Your Task
                                                                                                                                                                                              • Closure
                                                                                                                                                                                              • States agree
                                                                                                                                                                                              • Quote
                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                              • 6 Purpose of Government
                                                                                                                                                                                              • Structure of Constitution (2)
                                                                                                                                                                                              • Structure of Constitution (3)
                                                                                                                                                                                              • Principles of Constitution
                                                                                                                                                                                              • Activity
                                                                                                                                                                                              • Slide 60
                                                                                                                                                                                              • Check for Understanding Six Principles
                                                                                                                                                                                              • Question 1
                                                                                                                                                                                              • Question 2
                                                                                                                                                                                              • Question 3
                                                                                                                                                                                              • Question 4
                                                                                                                                                                                              • Question 5
                                                                                                                                                                                              • Question 6
                                                                                                                                                                                              • Question 7
                                                                                                                                                                                              • Question 8
                                                                                                                                                                                              • Groups
                                                                                                                                                                                              • Separation of Powers
                                                                                                                                                                                              • Video
                                                                                                                                                                                              • Checks and Balances
                                                                                                                                                                                              • Slide 74
                                                                                                                                                                                              • Checks and balances
                                                                                                                                                                                              • Basic Principles
                                                                                                                                                                                              • Self- Worth
                                                                                                                                                                                              • Equality
                                                                                                                                                                                              • Compromise
                                                                                                                                                                                              • Individual Freedom
                                                                                                                                                                                              • Write your ownhellip
                                                                                                                                                                                              • Slide 82
                                                                                                                                                                                              • TED Talk
                                                                                                                                                                                              • Closure
                                                                                                                                                                                              • What is Economics
                                                                                                                                                                                              • Economics ishellip
                                                                                                                                                                                              • Back to our assumptionshellip
                                                                                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                              • For the videohellip
                                                                                                                                                                                              • Slide 90
                                                                                                                                                                                              • Post Videohellip
                                                                                                                                                                                              • Advertisement
                                                                                                                                                                                              • Political Cartoon Analysis
                                                                                                                                                                                              • Factors of Production
                                                                                                                                                                                              • TASK
                                                                                                                                                                                              • The price ofhellip
                                                                                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                              • 1 What to produce
                                                                                                                                                                                              • 2 How to produce it
                                                                                                                                                                                              • 3 For whom to produce it
                                                                                                                                                                                              • Application Activity
                                                                                                                                                                                              • EQs
                                                                                                                                                                                              • Objectives amp Essential Questions
                                                                                                                                                                                              • Group Activity Budget Activity
                                                                                                                                                                                              • Slide 105
                                                                                                                                                                                              • How do we satisfy our economic wants
                                                                                                                                                                                              • How do we make goods amp services
                                                                                                                                                                                              • Economic Interdependence
                                                                                                                                                                                              • Slide 109
                                                                                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                                                                                              • Exampleshellip
                                                                                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                              • Opportunity Cost
                                                                                                                                                                                              • What else influences your choices
                                                                                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                                                                                              • ObjectivesEssential Questions
                                                                                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                              • Production Possibilities Frontier
                                                                                                                                                                                              • PPF Assumptions
                                                                                                                                                                                              • Slide 121
                                                                                                                                                                                              • Production Possibilities Curve
                                                                                                                                                                                              • The Choices Nations Make
                                                                                                                                                                                              • Economic Growth
                                                                                                                                                                                              • The Classic Guns and Butter example
                                                                                                                                                                                              • Productivity
                                                                                                                                                                                              • Locations on a PPF
                                                                                                                                                                                              • Slide 128
                                                                                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                              • Economic Systems
                                                                                                                                                                                              • Jigsaw activity
                                                                                                                                                                                              • Slide 132
                                                                                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                                                                                              • Review of Economic Systems
                                                                                                                                                                                              • Slide 135
                                                                                                                                                                                              • What are the most important goals of each economic system
                                                                                                                                                                                              • Which economic system does the US use
                                                                                                                                                                                              • The American Economic System
                                                                                                                                                                                              • The US mixed economy
                                                                                                                                                                                              • Slide 140
                                                                                                                                                                                              • Think backhellip
                                                                                                                                                                                              • US Economic System Characteristics
                                                                                                                                                                                              • Slide 143
                                                                                                                                                                                              • Understanding how all parts fit together
                                                                                                                                                                                              • Marriage Vows
                                                                                                                                                                                              • Do you remember
                                                                                                                                                                                              • Slide 147

                                                                                                                                                                                                1 What to produce

                                                                                                                                                                                                bullShould it be military or civilian goods

                                                                                                                                                                                                bullFood or clothingbullMedicine or movies

                                                                                                                                                                                                2 How to produce it

                                                                                                                                                                                                bullAutomated or manual labor

                                                                                                                                                                                                bullExpensive or cheap materials

                                                                                                                                                                                                bullDomestic or overseas labor

                                                                                                                                                                                                3 For whom to produce it

                                                                                                                                                                                                bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                                Application Activity

                                                                                                                                                                                                bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                                bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                                information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                                answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                                economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                                withhellip Images representing what you produce and a

                                                                                                                                                                                                slogan for why your country is awesome

                                                                                                                                                                                                EQs

                                                                                                                                                                                                bullHow does scarcity impact decision making

                                                                                                                                                                                                Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                                I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                                I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                                bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                                Group Activity Budget Activity

                                                                                                                                                                                                bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                                bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                                bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                                How do we satisfy our economic wants

                                                                                                                                                                                                bull We buy goods or services

                                                                                                                                                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                                How do we make goods amp services

                                                                                                                                                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                Production Equation

                                                                                                                                                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                inputs output

                                                                                                                                                                                                Economic Interdependence

                                                                                                                                                                                                bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                Wants amp Needs gt

                                                                                                                                                                                                Resources

                                                                                                                                                                                                Because of scarcity we

                                                                                                                                                                                                have to make choices

                                                                                                                                                                                                How do we make a choice What do we give up

                                                                                                                                                                                                What does this remind you of from our government unit

                                                                                                                                                                                                Making Choices to Deal With Scarcity

                                                                                                                                                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                decision over another

                                                                                                                                                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                school today or should I sleep in

                                                                                                                                                                                                Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                In the end what helped you decide amongst your choices

                                                                                                                                                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                tradeoffs for that decision

                                                                                                                                                                                                Be prepared to share

                                                                                                                                                                                                Opportunity Cost

                                                                                                                                                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                we want

                                                                                                                                                                                                What else influences your choices

                                                                                                                                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                FinallyhellipWhy it Matters

                                                                                                                                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                better decision-maker

                                                                                                                                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                You always have to give something uphelliprdquo

                                                                                                                                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                decisions

                                                                                                                                                                                                Visualizing the Relationshiphellip

                                                                                                                                                                                                Limited Resources amp Unlimited Wants

                                                                                                                                                                                                Scarcity

                                                                                                                                                                                                Trade-offs (choices)

                                                                                                                                                                                                Opportunity Costs

                                                                                                                                                                                                ObjectivesEssential Questions

                                                                                                                                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                the three different types of economies

                                                                                                                                                                                                bullEssential Question How do the different types of economies work

                                                                                                                                                                                                How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                Making Choices

                                                                                                                                                                                                Answer With a Production Possibilities Frontier

                                                                                                                                                                                                Production Possibilities Frontier

                                                                                                                                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                PPF Assumptions

                                                                                                                                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                Production Possibilities Curve

                                                                                                                                                                                                CD

                                                                                                                                                                                                E

                                                                                                                                                                                                OU

                                                                                                                                                                                                TP

                                                                                                                                                                                                UT

                                                                                                                                                                                                OF

                                                                                                                                                                                                CO

                                                                                                                                                                                                NS

                                                                                                                                                                                                UM

                                                                                                                                                                                                ER

                                                                                                                                                                                                GO

                                                                                                                                                                                                OD

                                                                                                                                                                                                S

                                                                                                                                                                                                (un

                                                                                                                                                                                                its

                                                                                                                                                                                                per

                                                                                                                                                                                                yea

                                                                                                                                                                                                r)

                                                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                A

                                                                                                                                                                                                BO

                                                                                                                                                                                                XF

                                                                                                                                                                                                G

                                                                                                                                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                The Choices Nations Make

                                                                                                                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                bullProduce military goods or consumer goods

                                                                                                                                                                                                Economic Growth

                                                                                                                                                                                                2000 production possibilities

                                                                                                                                                                                                1900 production possibilities

                                                                                                                                                                                                OU

                                                                                                                                                                                                TP

                                                                                                                                                                                                UT

                                                                                                                                                                                                OF

                                                                                                                                                                                                CO

                                                                                                                                                                                                NS

                                                                                                                                                                                                UM

                                                                                                                                                                                                ER

                                                                                                                                                                                                GO

                                                                                                                                                                                                OD

                                                                                                                                                                                                S(u

                                                                                                                                                                                                nits

                                                                                                                                                                                                per

                                                                                                                                                                                                yea

                                                                                                                                                                                                r)

                                                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                Production possibilities increases with more resources and technology

                                                                                                                                                                                                The Classic Guns and Butter example

                                                                                                                                                                                                Guns

                                                                                                                                                                                                Butter

                                                                                                                                                                                                10000 20000 30000 40000 50000

                                                                                                                                                                                                1000009500085000

                                                                                                                                                                                                70000

                                                                                                                                                                                                5000040000

                                                                                                                                                                                                BA

                                                                                                                                                                                                C

                                                                                                                                                                                                D

                                                                                                                                                                                                E

                                                                                                                                                                                                F

                                                                                                                                                                                                At point A all resources are used for butter

                                                                                                                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                At point F all resources are used for Guns

                                                                                                                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                choices are

                                                                                                                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                Locations on a PPF

                                                                                                                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                Food

                                                                                                                                                                                                Computer

                                                                                                                                                                                                4

                                                                                                                                                                                                3

                                                                                                                                                                                                2

                                                                                                                                                                                                1

                                                                                                                                                                                                1 2 3 4

                                                                                                                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                Unit

                                                                                                                                                                                                Constantly giving up the same quantity of food to get

                                                                                                                                                                                                additional computers

                                                                                                                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                Principle of Increasing Costs

                                                                                                                                                                                                As a society produces more of one product the OC of producing

                                                                                                                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                Economic Systems

                                                                                                                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                Jigsaw activity

                                                                                                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                                                                                                bull Economic Freedom

                                                                                                                                                                                                bull Economic Efficiency

                                                                                                                                                                                                bull Economic Equity

                                                                                                                                                                                                bull Economic Security

                                                                                                                                                                                                Economic Stability

                                                                                                                                                                                                Economic Growth

                                                                                                                                                                                                Review of Economic Systems

                                                                                                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                What are the most important goals of each economic system

                                                                                                                                                                                                bullTraditionalSecurity and

                                                                                                                                                                                                StabilitybullCommand

                                                                                                                                                                                                Equity and Security

                                                                                                                                                                                                bullMARKETEfficiency and

                                                                                                                                                                                                Freedom

                                                                                                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                                                                                                Which economic system does the US use

                                                                                                                                                                                                The American Economic System

                                                                                                                                                                                                bullWe have a mixed market economy

                                                                                                                                                                                                COMMAND MARKET

                                                                                                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                Think backhellip

                                                                                                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                2 Limited government

                                                                                                                                                                                                3 Equal opportunity

                                                                                                                                                                                                4 Competition

                                                                                                                                                                                                5 Profit motive

                                                                                                                                                                                                6 Property Rights

                                                                                                                                                                                                7 Binding Contracts

                                                                                                                                                                                                Understanding how all parts fit together

                                                                                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                Shows interdependence between

                                                                                                                                                                                                businesses and individuals

                                                                                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                Do you remember

                                                                                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                democracy and mixed economy

                                                                                                                                                                                                • Foundations of Government and Economics
                                                                                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                                                                                • Slide 3
                                                                                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                                                                                • Introductory thoughts hellip
                                                                                                                                                                                                • Slide 6
                                                                                                                                                                                                • 2 How about to your life
                                                                                                                                                                                                • Slide 8
                                                                                                                                                                                                • Slide 9
                                                                                                                                                                                                • Slide 10
                                                                                                                                                                                                • Slide 11
                                                                                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                                                                                • Individualism
                                                                                                                                                                                                • Quote activity
                                                                                                                                                                                                • Quote breakdown
                                                                                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                                                                                • Purpose of Government
                                                                                                                                                                                                • Slide 20
                                                                                                                                                                                                • 3 Theorists
                                                                                                                                                                                                • Activity
                                                                                                                                                                                                • Origins of American Government A customized government
                                                                                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                                                                                • With which theory do you agree more Why
                                                                                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                • Groups Block 2
                                                                                                                                                                                                • Groups Block 4
                                                                                                                                                                                                • Balloon Game
                                                                                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                • Balloon Game Debriefing
                                                                                                                                                                                                • Political Theories
                                                                                                                                                                                                • Social Contract
                                                                                                                                                                                                • Natural Rights
                                                                                                                                                                                                • Democracy
                                                                                                                                                                                                • Concepts of Government
                                                                                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                                                                                • Warm Up 7
                                                                                                                                                                                                • And after the Constitution
                                                                                                                                                                                                • Activity (2)
                                                                                                                                                                                                • Picture Activity
                                                                                                                                                                                                • Constitutional Convention
                                                                                                                                                                                                • Purpose of the Convention
                                                                                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                • Your Task
                                                                                                                                                                                                • Closure
                                                                                                                                                                                                • States agree
                                                                                                                                                                                                • Quote
                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                • 6 Purpose of Government
                                                                                                                                                                                                • Structure of Constitution (2)
                                                                                                                                                                                                • Structure of Constitution (3)
                                                                                                                                                                                                • Principles of Constitution
                                                                                                                                                                                                • Activity
                                                                                                                                                                                                • Slide 60
                                                                                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                                                                                • Question 1
                                                                                                                                                                                                • Question 2
                                                                                                                                                                                                • Question 3
                                                                                                                                                                                                • Question 4
                                                                                                                                                                                                • Question 5
                                                                                                                                                                                                • Question 6
                                                                                                                                                                                                • Question 7
                                                                                                                                                                                                • Question 8
                                                                                                                                                                                                • Groups
                                                                                                                                                                                                • Separation of Powers
                                                                                                                                                                                                • Video
                                                                                                                                                                                                • Checks and Balances
                                                                                                                                                                                                • Slide 74
                                                                                                                                                                                                • Checks and balances
                                                                                                                                                                                                • Basic Principles
                                                                                                                                                                                                • Self- Worth
                                                                                                                                                                                                • Equality
                                                                                                                                                                                                • Compromise
                                                                                                                                                                                                • Individual Freedom
                                                                                                                                                                                                • Write your ownhellip
                                                                                                                                                                                                • Slide 82
                                                                                                                                                                                                • TED Talk
                                                                                                                                                                                                • Closure
                                                                                                                                                                                                • What is Economics
                                                                                                                                                                                                • Economics ishellip
                                                                                                                                                                                                • Back to our assumptionshellip
                                                                                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                • For the videohellip
                                                                                                                                                                                                • Slide 90
                                                                                                                                                                                                • Post Videohellip
                                                                                                                                                                                                • Advertisement
                                                                                                                                                                                                • Political Cartoon Analysis
                                                                                                                                                                                                • Factors of Production
                                                                                                                                                                                                • TASK
                                                                                                                                                                                                • The price ofhellip
                                                                                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                • 1 What to produce
                                                                                                                                                                                                • 2 How to produce it
                                                                                                                                                                                                • 3 For whom to produce it
                                                                                                                                                                                                • Application Activity
                                                                                                                                                                                                • EQs
                                                                                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                                                                                • Group Activity Budget Activity
                                                                                                                                                                                                • Slide 105
                                                                                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                                                                                • How do we make goods amp services
                                                                                                                                                                                                • Economic Interdependence
                                                                                                                                                                                                • Slide 109
                                                                                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                                                                                • Exampleshellip
                                                                                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                • Opportunity Cost
                                                                                                                                                                                                • What else influences your choices
                                                                                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                • Production Possibilities Frontier
                                                                                                                                                                                                • PPF Assumptions
                                                                                                                                                                                                • Slide 121
                                                                                                                                                                                                • Production Possibilities Curve
                                                                                                                                                                                                • The Choices Nations Make
                                                                                                                                                                                                • Economic Growth
                                                                                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                                                                                • Productivity
                                                                                                                                                                                                • Locations on a PPF
                                                                                                                                                                                                • Slide 128
                                                                                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                • Economic Systems
                                                                                                                                                                                                • Jigsaw activity
                                                                                                                                                                                                • Slide 132
                                                                                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                • Review of Economic Systems
                                                                                                                                                                                                • Slide 135
                                                                                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                                                                                • Which economic system does the US use
                                                                                                                                                                                                • The American Economic System
                                                                                                                                                                                                • The US mixed economy
                                                                                                                                                                                                • Slide 140
                                                                                                                                                                                                • Think backhellip
                                                                                                                                                                                                • US Economic System Characteristics
                                                                                                                                                                                                • Slide 143
                                                                                                                                                                                                • Understanding how all parts fit together
                                                                                                                                                                                                • Marriage Vows
                                                                                                                                                                                                • Do you remember
                                                                                                                                                                                                • Slide 147

                                                                                                                                                                                                  2 How to produce it

                                                                                                                                                                                                  bullAutomated or manual labor

                                                                                                                                                                                                  bullExpensive or cheap materials

                                                                                                                                                                                                  bullDomestic or overseas labor

                                                                                                                                                                                                  3 For whom to produce it

                                                                                                                                                                                                  bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                                  Application Activity

                                                                                                                                                                                                  bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                                  bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                                  information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                                  answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                                  economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                                  withhellip Images representing what you produce and a

                                                                                                                                                                                                  slogan for why your country is awesome

                                                                                                                                                                                                  EQs

                                                                                                                                                                                                  bullHow does scarcity impact decision making

                                                                                                                                                                                                  Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                                  I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                                  I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                                  bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                                  Group Activity Budget Activity

                                                                                                                                                                                                  bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                                  bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                                  bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                                  How do we satisfy our economic wants

                                                                                                                                                                                                  bull We buy goods or services

                                                                                                                                                                                                  bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                                  bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                                  How do we make goods amp services

                                                                                                                                                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                  Production Equation

                                                                                                                                                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                  inputs output

                                                                                                                                                                                                  Economic Interdependence

                                                                                                                                                                                                  bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                  bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                  bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                  country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                  Wants amp Needs gt

                                                                                                                                                                                                  Resources

                                                                                                                                                                                                  Because of scarcity we

                                                                                                                                                                                                  have to make choices

                                                                                                                                                                                                  How do we make a choice What do we give up

                                                                                                                                                                                                  What does this remind you of from our government unit

                                                                                                                                                                                                  Making Choices to Deal With Scarcity

                                                                                                                                                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                  decision over another

                                                                                                                                                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                  school today or should I sleep in

                                                                                                                                                                                                  Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                  In the end what helped you decide amongst your choices

                                                                                                                                                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                  tradeoffs for that decision

                                                                                                                                                                                                  Be prepared to share

                                                                                                                                                                                                  Opportunity Cost

                                                                                                                                                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                  we want

                                                                                                                                                                                                  What else influences your choices

                                                                                                                                                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                  FinallyhellipWhy it Matters

                                                                                                                                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                  better decision-maker

                                                                                                                                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                  You always have to give something uphelliprdquo

                                                                                                                                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                  decisions

                                                                                                                                                                                                  Visualizing the Relationshiphellip

                                                                                                                                                                                                  Limited Resources amp Unlimited Wants

                                                                                                                                                                                                  Scarcity

                                                                                                                                                                                                  Trade-offs (choices)

                                                                                                                                                                                                  Opportunity Costs

                                                                                                                                                                                                  ObjectivesEssential Questions

                                                                                                                                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                  the three different types of economies

                                                                                                                                                                                                  bullEssential Question How do the different types of economies work

                                                                                                                                                                                                  How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                  Making Choices

                                                                                                                                                                                                  Answer With a Production Possibilities Frontier

                                                                                                                                                                                                  Production Possibilities Frontier

                                                                                                                                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                  PPF Assumptions

                                                                                                                                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                  Production Possibilities Curve

                                                                                                                                                                                                  CD

                                                                                                                                                                                                  E

                                                                                                                                                                                                  OU

                                                                                                                                                                                                  TP

                                                                                                                                                                                                  UT

                                                                                                                                                                                                  OF

                                                                                                                                                                                                  CO

                                                                                                                                                                                                  NS

                                                                                                                                                                                                  UM

                                                                                                                                                                                                  ER

                                                                                                                                                                                                  GO

                                                                                                                                                                                                  OD

                                                                                                                                                                                                  S

                                                                                                                                                                                                  (un

                                                                                                                                                                                                  its

                                                                                                                                                                                                  per

                                                                                                                                                                                                  yea

                                                                                                                                                                                                  r)

                                                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                  A

                                                                                                                                                                                                  BO

                                                                                                                                                                                                  XF

                                                                                                                                                                                                  G

                                                                                                                                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                  The Choices Nations Make

                                                                                                                                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                  bullProduce military goods or consumer goods

                                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                                  2000 production possibilities

                                                                                                                                                                                                  1900 production possibilities

                                                                                                                                                                                                  OU

                                                                                                                                                                                                  TP

                                                                                                                                                                                                  UT

                                                                                                                                                                                                  OF

                                                                                                                                                                                                  CO

                                                                                                                                                                                                  NS

                                                                                                                                                                                                  UM

                                                                                                                                                                                                  ER

                                                                                                                                                                                                  GO

                                                                                                                                                                                                  OD

                                                                                                                                                                                                  S(u

                                                                                                                                                                                                  nits

                                                                                                                                                                                                  per

                                                                                                                                                                                                  yea

                                                                                                                                                                                                  r)

                                                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                  Production possibilities increases with more resources and technology

                                                                                                                                                                                                  The Classic Guns and Butter example

                                                                                                                                                                                                  Guns

                                                                                                                                                                                                  Butter

                                                                                                                                                                                                  10000 20000 30000 40000 50000

                                                                                                                                                                                                  1000009500085000

                                                                                                                                                                                                  70000

                                                                                                                                                                                                  5000040000

                                                                                                                                                                                                  BA

                                                                                                                                                                                                  C

                                                                                                                                                                                                  D

                                                                                                                                                                                                  E

                                                                                                                                                                                                  F

                                                                                                                                                                                                  At point A all resources are used for butter

                                                                                                                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                  At point F all resources are used for Guns

                                                                                                                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                  choices are

                                                                                                                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                  Locations on a PPF

                                                                                                                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                  Food

                                                                                                                                                                                                  Computer

                                                                                                                                                                                                  4

                                                                                                                                                                                                  3

                                                                                                                                                                                                  2

                                                                                                                                                                                                  1

                                                                                                                                                                                                  1 2 3 4

                                                                                                                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                  Unit

                                                                                                                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                                                                                                                  additional computers

                                                                                                                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                  Principle of Increasing Costs

                                                                                                                                                                                                  As a society produces more of one product the OC of producing

                                                                                                                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                  Economic Systems

                                                                                                                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                  Jigsaw activity

                                                                                                                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                                                                                                  bull Economic Freedom

                                                                                                                                                                                                  bull Economic Efficiency

                                                                                                                                                                                                  bull Economic Equity

                                                                                                                                                                                                  bull Economic Security

                                                                                                                                                                                                  Economic Stability

                                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                                  Review of Economic Systems

                                                                                                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                  What are the most important goals of each economic system

                                                                                                                                                                                                  bullTraditionalSecurity and

                                                                                                                                                                                                  StabilitybullCommand

                                                                                                                                                                                                  Equity and Security

                                                                                                                                                                                                  bullMARKETEfficiency and

                                                                                                                                                                                                  Freedom

                                                                                                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                                                                                                  Which economic system does the US use

                                                                                                                                                                                                  The American Economic System

                                                                                                                                                                                                  bullWe have a mixed market economy

                                                                                                                                                                                                  COMMAND MARKET

                                                                                                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                  Think backhellip

                                                                                                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                  2 Limited government

                                                                                                                                                                                                  3 Equal opportunity

                                                                                                                                                                                                  4 Competition

                                                                                                                                                                                                  5 Profit motive

                                                                                                                                                                                                  6 Property Rights

                                                                                                                                                                                                  7 Binding Contracts

                                                                                                                                                                                                  Understanding how all parts fit together

                                                                                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                  Shows interdependence between

                                                                                                                                                                                                  businesses and individuals

                                                                                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                  Do you remember

                                                                                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                  democracy and mixed economy

                                                                                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                                                                                  • Slide 3
                                                                                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                                                                                  • Slide 6
                                                                                                                                                                                                  • 2 How about to your life
                                                                                                                                                                                                  • Slide 8
                                                                                                                                                                                                  • Slide 9
                                                                                                                                                                                                  • Slide 10
                                                                                                                                                                                                  • Slide 11
                                                                                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                                                                                  • Individualism
                                                                                                                                                                                                  • Quote activity
                                                                                                                                                                                                  • Quote breakdown
                                                                                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                                                                                  • Purpose of Government
                                                                                                                                                                                                  • Slide 20
                                                                                                                                                                                                  • 3 Theorists
                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                  • Groups Block 2
                                                                                                                                                                                                  • Groups Block 4
                                                                                                                                                                                                  • Balloon Game
                                                                                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                                                                                  • Political Theories
                                                                                                                                                                                                  • Social Contract
                                                                                                                                                                                                  • Natural Rights
                                                                                                                                                                                                  • Democracy
                                                                                                                                                                                                  • Concepts of Government
                                                                                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                                                                                  • Warm Up 7
                                                                                                                                                                                                  • And after the Constitution
                                                                                                                                                                                                  • Activity (2)
                                                                                                                                                                                                  • Picture Activity
                                                                                                                                                                                                  • Constitutional Convention
                                                                                                                                                                                                  • Purpose of the Convention
                                                                                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                  • Your Task
                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                  • States agree
                                                                                                                                                                                                  • Quote
                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                  • 6 Purpose of Government
                                                                                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                                                                                  • Principles of Constitution
                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                  • Slide 60
                                                                                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                                                                                  • Question 1
                                                                                                                                                                                                  • Question 2
                                                                                                                                                                                                  • Question 3
                                                                                                                                                                                                  • Question 4
                                                                                                                                                                                                  • Question 5
                                                                                                                                                                                                  • Question 6
                                                                                                                                                                                                  • Question 7
                                                                                                                                                                                                  • Question 8
                                                                                                                                                                                                  • Groups
                                                                                                                                                                                                  • Separation of Powers
                                                                                                                                                                                                  • Video
                                                                                                                                                                                                  • Checks and Balances
                                                                                                                                                                                                  • Slide 74
                                                                                                                                                                                                  • Checks and balances
                                                                                                                                                                                                  • Basic Principles
                                                                                                                                                                                                  • Self- Worth
                                                                                                                                                                                                  • Equality
                                                                                                                                                                                                  • Compromise
                                                                                                                                                                                                  • Individual Freedom
                                                                                                                                                                                                  • Write your ownhellip
                                                                                                                                                                                                  • Slide 82
                                                                                                                                                                                                  • TED Talk
                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                  • What is Economics
                                                                                                                                                                                                  • Economics ishellip
                                                                                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                  • For the videohellip
                                                                                                                                                                                                  • Slide 90
                                                                                                                                                                                                  • Post Videohellip
                                                                                                                                                                                                  • Advertisement
                                                                                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                                                                                  • Factors of Production
                                                                                                                                                                                                  • TASK
                                                                                                                                                                                                  • The price ofhellip
                                                                                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                  • 1 What to produce
                                                                                                                                                                                                  • 2 How to produce it
                                                                                                                                                                                                  • 3 For whom to produce it
                                                                                                                                                                                                  • Application Activity
                                                                                                                                                                                                  • EQs
                                                                                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                                                                                  • Slide 105
                                                                                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                                                                                  • How do we make goods amp services
                                                                                                                                                                                                  • Economic Interdependence
                                                                                                                                                                                                  • Slide 109
                                                                                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                                                                                  • Exampleshellip
                                                                                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                  • Opportunity Cost
                                                                                                                                                                                                  • What else influences your choices
                                                                                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                                                                                  • PPF Assumptions
                                                                                                                                                                                                  • Slide 121
                                                                                                                                                                                                  • Production Possibilities Curve
                                                                                                                                                                                                  • The Choices Nations Make
                                                                                                                                                                                                  • Economic Growth
                                                                                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                                                                                  • Productivity
                                                                                                                                                                                                  • Locations on a PPF
                                                                                                                                                                                                  • Slide 128
                                                                                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                  • Economic Systems
                                                                                                                                                                                                  • Jigsaw activity
                                                                                                                                                                                                  • Slide 132
                                                                                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                  • Review of Economic Systems
                                                                                                                                                                                                  • Slide 135
                                                                                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                                                                                  • Which economic system does the US use
                                                                                                                                                                                                  • The American Economic System
                                                                                                                                                                                                  • The US mixed economy
                                                                                                                                                                                                  • Slide 140
                                                                                                                                                                                                  • Think backhellip
                                                                                                                                                                                                  • US Economic System Characteristics
                                                                                                                                                                                                  • Slide 143
                                                                                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                                                                                  • Marriage Vows
                                                                                                                                                                                                  • Do you remember
                                                                                                                                                                                                  • Slide 147

                                                                                                                                                                                                    3 For whom to produce it

                                                                                                                                                                                                    bullThe wealthy or the needybullThe sick or the healthy

                                                                                                                                                                                                    Application Activity

                                                                                                                                                                                                    bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                                    bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                                    information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                                    answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                                    economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                                    withhellip Images representing what you produce and a

                                                                                                                                                                                                    slogan for why your country is awesome

                                                                                                                                                                                                    EQs

                                                                                                                                                                                                    bullHow does scarcity impact decision making

                                                                                                                                                                                                    Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                                    I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                                    I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                                    bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                                    Group Activity Budget Activity

                                                                                                                                                                                                    bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                                    bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                                    bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                                    How do we satisfy our economic wants

                                                                                                                                                                                                    bull We buy goods or services

                                                                                                                                                                                                    bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                                    bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                                    How do we make goods amp services

                                                                                                                                                                                                    bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                    Production Equation

                                                                                                                                                                                                    LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                    inputs output

                                                                                                                                                                                                    Economic Interdependence

                                                                                                                                                                                                    bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                    bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                    bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                    country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                    Wants amp Needs gt

                                                                                                                                                                                                    Resources

                                                                                                                                                                                                    Because of scarcity we

                                                                                                                                                                                                    have to make choices

                                                                                                                                                                                                    How do we make a choice What do we give up

                                                                                                                                                                                                    What does this remind you of from our government unit

                                                                                                                                                                                                    Making Choices to Deal With Scarcity

                                                                                                                                                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                    decision over another

                                                                                                                                                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                    school today or should I sleep in

                                                                                                                                                                                                    Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                    In the end what helped you decide amongst your choices

                                                                                                                                                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                    tradeoffs for that decision

                                                                                                                                                                                                    Be prepared to share

                                                                                                                                                                                                    Opportunity Cost

                                                                                                                                                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                    we want

                                                                                                                                                                                                    What else influences your choices

                                                                                                                                                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                    FinallyhellipWhy it Matters

                                                                                                                                                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                    better decision-maker

                                                                                                                                                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                    You always have to give something uphelliprdquo

                                                                                                                                                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                    decisions

                                                                                                                                                                                                    Visualizing the Relationshiphellip

                                                                                                                                                                                                    Limited Resources amp Unlimited Wants

                                                                                                                                                                                                    Scarcity

                                                                                                                                                                                                    Trade-offs (choices)

                                                                                                                                                                                                    Opportunity Costs

                                                                                                                                                                                                    ObjectivesEssential Questions

                                                                                                                                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                    the three different types of economies

                                                                                                                                                                                                    bullEssential Question How do the different types of economies work

                                                                                                                                                                                                    How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                    Making Choices

                                                                                                                                                                                                    Answer With a Production Possibilities Frontier

                                                                                                                                                                                                    Production Possibilities Frontier

                                                                                                                                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                    PPF Assumptions

                                                                                                                                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                    Production Possibilities Curve

                                                                                                                                                                                                    CD

                                                                                                                                                                                                    E

                                                                                                                                                                                                    OU

                                                                                                                                                                                                    TP

                                                                                                                                                                                                    UT

                                                                                                                                                                                                    OF

                                                                                                                                                                                                    CO

                                                                                                                                                                                                    NS

                                                                                                                                                                                                    UM

                                                                                                                                                                                                    ER

                                                                                                                                                                                                    GO

                                                                                                                                                                                                    OD

                                                                                                                                                                                                    S

                                                                                                                                                                                                    (un

                                                                                                                                                                                                    its

                                                                                                                                                                                                    per

                                                                                                                                                                                                    yea

                                                                                                                                                                                                    r)

                                                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                    A

                                                                                                                                                                                                    BO

                                                                                                                                                                                                    XF

                                                                                                                                                                                                    G

                                                                                                                                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                    The Choices Nations Make

                                                                                                                                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                    bullProduce military goods or consumer goods

                                                                                                                                                                                                    Economic Growth

                                                                                                                                                                                                    2000 production possibilities

                                                                                                                                                                                                    1900 production possibilities

                                                                                                                                                                                                    OU

                                                                                                                                                                                                    TP

                                                                                                                                                                                                    UT

                                                                                                                                                                                                    OF

                                                                                                                                                                                                    CO

                                                                                                                                                                                                    NS

                                                                                                                                                                                                    UM

                                                                                                                                                                                                    ER

                                                                                                                                                                                                    GO

                                                                                                                                                                                                    OD

                                                                                                                                                                                                    S(u

                                                                                                                                                                                                    nits

                                                                                                                                                                                                    per

                                                                                                                                                                                                    yea

                                                                                                                                                                                                    r)

                                                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                    Production possibilities increases with more resources and technology

                                                                                                                                                                                                    The Classic Guns and Butter example

                                                                                                                                                                                                    Guns

                                                                                                                                                                                                    Butter

                                                                                                                                                                                                    10000 20000 30000 40000 50000

                                                                                                                                                                                                    1000009500085000

                                                                                                                                                                                                    70000

                                                                                                                                                                                                    5000040000

                                                                                                                                                                                                    BA

                                                                                                                                                                                                    C

                                                                                                                                                                                                    D

                                                                                                                                                                                                    E

                                                                                                                                                                                                    F

                                                                                                                                                                                                    At point A all resources are used for butter

                                                                                                                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                    At point F all resources are used for Guns

                                                                                                                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                    choices are

                                                                                                                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                    Locations on a PPF

                                                                                                                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                    Food

                                                                                                                                                                                                    Computer

                                                                                                                                                                                                    4

                                                                                                                                                                                                    3

                                                                                                                                                                                                    2

                                                                                                                                                                                                    1

                                                                                                                                                                                                    1 2 3 4

                                                                                                                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                    Unit

                                                                                                                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                                                                                                                    additional computers

                                                                                                                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                    Principle of Increasing Costs

                                                                                                                                                                                                    As a society produces more of one product the OC of producing

                                                                                                                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                    Economic Systems

                                                                                                                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                    Jigsaw activity

                                                                                                                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                                                                                                                    bull Economic Freedom

                                                                                                                                                                                                    bull Economic Efficiency

                                                                                                                                                                                                    bull Economic Equity

                                                                                                                                                                                                    bull Economic Security

                                                                                                                                                                                                    Economic Stability

                                                                                                                                                                                                    Economic Growth

                                                                                                                                                                                                    Review of Economic Systems

                                                                                                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                    What are the most important goals of each economic system

                                                                                                                                                                                                    bullTraditionalSecurity and

                                                                                                                                                                                                    StabilitybullCommand

                                                                                                                                                                                                    Equity and Security

                                                                                                                                                                                                    bullMARKETEfficiency and

                                                                                                                                                                                                    Freedom

                                                                                                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                                                                                                    Which economic system does the US use

                                                                                                                                                                                                    The American Economic System

                                                                                                                                                                                                    bullWe have a mixed market economy

                                                                                                                                                                                                    COMMAND MARKET

                                                                                                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                    Think backhellip

                                                                                                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                    2 Limited government

                                                                                                                                                                                                    3 Equal opportunity

                                                                                                                                                                                                    4 Competition

                                                                                                                                                                                                    5 Profit motive

                                                                                                                                                                                                    6 Property Rights

                                                                                                                                                                                                    7 Binding Contracts

                                                                                                                                                                                                    Understanding how all parts fit together

                                                                                                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                    Shows interdependence between

                                                                                                                                                                                                    businesses and individuals

                                                                                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                    Do you remember

                                                                                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                    democracy and mixed economy

                                                                                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                                                                                    • Slide 3
                                                                                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                                                                                    • Slide 6
                                                                                                                                                                                                    • 2 How about to your life
                                                                                                                                                                                                    • Slide 8
                                                                                                                                                                                                    • Slide 9
                                                                                                                                                                                                    • Slide 10
                                                                                                                                                                                                    • Slide 11
                                                                                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                                                                                    • Individualism
                                                                                                                                                                                                    • Quote activity
                                                                                                                                                                                                    • Quote breakdown
                                                                                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                                                                                    • Purpose of Government
                                                                                                                                                                                                    • Slide 20
                                                                                                                                                                                                    • 3 Theorists
                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                    • Groups Block 2
                                                                                                                                                                                                    • Groups Block 4
                                                                                                                                                                                                    • Balloon Game
                                                                                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                                                                                    • Political Theories
                                                                                                                                                                                                    • Social Contract
                                                                                                                                                                                                    • Natural Rights
                                                                                                                                                                                                    • Democracy
                                                                                                                                                                                                    • Concepts of Government
                                                                                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                                                                                    • Warm Up 7
                                                                                                                                                                                                    • And after the Constitution
                                                                                                                                                                                                    • Activity (2)
                                                                                                                                                                                                    • Picture Activity
                                                                                                                                                                                                    • Constitutional Convention
                                                                                                                                                                                                    • Purpose of the Convention
                                                                                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                    • Your Task
                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                    • States agree
                                                                                                                                                                                                    • Quote
                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                    • 6 Purpose of Government
                                                                                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                                                                                    • Principles of Constitution
                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                    • Slide 60
                                                                                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                                                                                    • Question 1
                                                                                                                                                                                                    • Question 2
                                                                                                                                                                                                    • Question 3
                                                                                                                                                                                                    • Question 4
                                                                                                                                                                                                    • Question 5
                                                                                                                                                                                                    • Question 6
                                                                                                                                                                                                    • Question 7
                                                                                                                                                                                                    • Question 8
                                                                                                                                                                                                    • Groups
                                                                                                                                                                                                    • Separation of Powers
                                                                                                                                                                                                    • Video
                                                                                                                                                                                                    • Checks and Balances
                                                                                                                                                                                                    • Slide 74
                                                                                                                                                                                                    • Checks and balances
                                                                                                                                                                                                    • Basic Principles
                                                                                                                                                                                                    • Self- Worth
                                                                                                                                                                                                    • Equality
                                                                                                                                                                                                    • Compromise
                                                                                                                                                                                                    • Individual Freedom
                                                                                                                                                                                                    • Write your ownhellip
                                                                                                                                                                                                    • Slide 82
                                                                                                                                                                                                    • TED Talk
                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                    • What is Economics
                                                                                                                                                                                                    • Economics ishellip
                                                                                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                    • For the videohellip
                                                                                                                                                                                                    • Slide 90
                                                                                                                                                                                                    • Post Videohellip
                                                                                                                                                                                                    • Advertisement
                                                                                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                                                                                    • Factors of Production
                                                                                                                                                                                                    • TASK
                                                                                                                                                                                                    • The price ofhellip
                                                                                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                    • 1 What to produce
                                                                                                                                                                                                    • 2 How to produce it
                                                                                                                                                                                                    • 3 For whom to produce it
                                                                                                                                                                                                    • Application Activity
                                                                                                                                                                                                    • EQs
                                                                                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                                                                                    • Slide 105
                                                                                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                                                                                    • How do we make goods amp services
                                                                                                                                                                                                    • Economic Interdependence
                                                                                                                                                                                                    • Slide 109
                                                                                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                                                                                    • Exampleshellip
                                                                                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                    • Opportunity Cost
                                                                                                                                                                                                    • What else influences your choices
                                                                                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                                                                                    • PPF Assumptions
                                                                                                                                                                                                    • Slide 121
                                                                                                                                                                                                    • Production Possibilities Curve
                                                                                                                                                                                                    • The Choices Nations Make
                                                                                                                                                                                                    • Economic Growth
                                                                                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                                                                                    • Productivity
                                                                                                                                                                                                    • Locations on a PPF
                                                                                                                                                                                                    • Slide 128
                                                                                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                    • Economic Systems
                                                                                                                                                                                                    • Jigsaw activity
                                                                                                                                                                                                    • Slide 132
                                                                                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                    • Review of Economic Systems
                                                                                                                                                                                                    • Slide 135
                                                                                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                                                                                    • Which economic system does the US use
                                                                                                                                                                                                    • The American Economic System
                                                                                                                                                                                                    • The US mixed economy
                                                                                                                                                                                                    • Slide 140
                                                                                                                                                                                                    • Think backhellip
                                                                                                                                                                                                    • US Economic System Characteristics
                                                                                                                                                                                                    • Slide 143
                                                                                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                                                                                    • Marriage Vows
                                                                                                                                                                                                    • Do you remember
                                                                                                                                                                                                    • Slide 147

                                                                                                                                                                                                      Application Activity

                                                                                                                                                                                                      bull In groups of 2-3 create your own country (name it please)

                                                                                                                                                                                                      bull With your countryrsquos name explain the Population geography and general population

                                                                                                                                                                                                      information (iehellipbull Choose 5 items for your country to produce and

                                                                                                                                                                                                      answer the three societal questions for eachALSO explain why this material would help your

                                                                                                                                                                                                      economy thrivereach economic efficiencybull Create an advertisement for your country

                                                                                                                                                                                                      withhellip Images representing what you produce and a

                                                                                                                                                                                                      slogan for why your country is awesome

                                                                                                                                                                                                      EQs

                                                                                                                                                                                                      bullHow does scarcity impact decision making

                                                                                                                                                                                                      Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                                      I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                                      I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                                      bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                                      Group Activity Budget Activity

                                                                                                                                                                                                      bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                                      bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                                      bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                                      How do we satisfy our economic wants

                                                                                                                                                                                                      bull We buy goods or services

                                                                                                                                                                                                      bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                                      bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                                      How do we make goods amp services

                                                                                                                                                                                                      bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                      Production Equation

                                                                                                                                                                                                      LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                      inputs output

                                                                                                                                                                                                      Economic Interdependence

                                                                                                                                                                                                      bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                      bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                      bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                      country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                      Wants amp Needs gt

                                                                                                                                                                                                      Resources

                                                                                                                                                                                                      Because of scarcity we

                                                                                                                                                                                                      have to make choices

                                                                                                                                                                                                      How do we make a choice What do we give up

                                                                                                                                                                                                      What does this remind you of from our government unit

                                                                                                                                                                                                      Making Choices to Deal With Scarcity

                                                                                                                                                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                      decision over another

                                                                                                                                                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                      school today or should I sleep in

                                                                                                                                                                                                      Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                      In the end what helped you decide amongst your choices

                                                                                                                                                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                      tradeoffs for that decision

                                                                                                                                                                                                      Be prepared to share

                                                                                                                                                                                                      Opportunity Cost

                                                                                                                                                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                      we want

                                                                                                                                                                                                      What else influences your choices

                                                                                                                                                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                      FinallyhellipWhy it Matters

                                                                                                                                                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                      better decision-maker

                                                                                                                                                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                      You always have to give something uphelliprdquo

                                                                                                                                                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                      decisions

                                                                                                                                                                                                      Visualizing the Relationshiphellip

                                                                                                                                                                                                      Limited Resources amp Unlimited Wants

                                                                                                                                                                                                      Scarcity

                                                                                                                                                                                                      Trade-offs (choices)

                                                                                                                                                                                                      Opportunity Costs

                                                                                                                                                                                                      ObjectivesEssential Questions

                                                                                                                                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                      the three different types of economies

                                                                                                                                                                                                      bullEssential Question How do the different types of economies work

                                                                                                                                                                                                      How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                      Making Choices

                                                                                                                                                                                                      Answer With a Production Possibilities Frontier

                                                                                                                                                                                                      Production Possibilities Frontier

                                                                                                                                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                      PPF Assumptions

                                                                                                                                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                      Production Possibilities Curve

                                                                                                                                                                                                      CD

                                                                                                                                                                                                      E

                                                                                                                                                                                                      OU

                                                                                                                                                                                                      TP

                                                                                                                                                                                                      UT

                                                                                                                                                                                                      OF

                                                                                                                                                                                                      CO

                                                                                                                                                                                                      NS

                                                                                                                                                                                                      UM

                                                                                                                                                                                                      ER

                                                                                                                                                                                                      GO

                                                                                                                                                                                                      OD

                                                                                                                                                                                                      S

                                                                                                                                                                                                      (un

                                                                                                                                                                                                      its

                                                                                                                                                                                                      per

                                                                                                                                                                                                      yea

                                                                                                                                                                                                      r)

                                                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                      A

                                                                                                                                                                                                      BO

                                                                                                                                                                                                      XF

                                                                                                                                                                                                      G

                                                                                                                                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                      The Choices Nations Make

                                                                                                                                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                      bullProduce military goods or consumer goods

                                                                                                                                                                                                      Economic Growth

                                                                                                                                                                                                      2000 production possibilities

                                                                                                                                                                                                      1900 production possibilities

                                                                                                                                                                                                      OU

                                                                                                                                                                                                      TP

                                                                                                                                                                                                      UT

                                                                                                                                                                                                      OF

                                                                                                                                                                                                      CO

                                                                                                                                                                                                      NS

                                                                                                                                                                                                      UM

                                                                                                                                                                                                      ER

                                                                                                                                                                                                      GO

                                                                                                                                                                                                      OD

                                                                                                                                                                                                      S(u

                                                                                                                                                                                                      nits

                                                                                                                                                                                                      per

                                                                                                                                                                                                      yea

                                                                                                                                                                                                      r)

                                                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                      Production possibilities increases with more resources and technology

                                                                                                                                                                                                      The Classic Guns and Butter example

                                                                                                                                                                                                      Guns

                                                                                                                                                                                                      Butter

                                                                                                                                                                                                      10000 20000 30000 40000 50000

                                                                                                                                                                                                      1000009500085000

                                                                                                                                                                                                      70000

                                                                                                                                                                                                      5000040000

                                                                                                                                                                                                      BA

                                                                                                                                                                                                      C

                                                                                                                                                                                                      D

                                                                                                                                                                                                      E

                                                                                                                                                                                                      F

                                                                                                                                                                                                      At point A all resources are used for butter

                                                                                                                                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                      At point F all resources are used for Guns

                                                                                                                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                      choices are

                                                                                                                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                      Locations on a PPF

                                                                                                                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                      Food

                                                                                                                                                                                                      Computer

                                                                                                                                                                                                      4

                                                                                                                                                                                                      3

                                                                                                                                                                                                      2

                                                                                                                                                                                                      1

                                                                                                                                                                                                      1 2 3 4

                                                                                                                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                      Unit

                                                                                                                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                                                                                                                      additional computers

                                                                                                                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                      Principle of Increasing Costs

                                                                                                                                                                                                      As a society produces more of one product the OC of producing

                                                                                                                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                      Economic Systems

                                                                                                                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                      Jigsaw activity

                                                                                                                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                                                                                                                      bull Economic Freedom

                                                                                                                                                                                                      bull Economic Efficiency

                                                                                                                                                                                                      bull Economic Equity

                                                                                                                                                                                                      bull Economic Security

                                                                                                                                                                                                      Economic Stability

                                                                                                                                                                                                      Economic Growth

                                                                                                                                                                                                      Review of Economic Systems

                                                                                                                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                      What are the most important goals of each economic system

                                                                                                                                                                                                      bullTraditionalSecurity and

                                                                                                                                                                                                      StabilitybullCommand

                                                                                                                                                                                                      Equity and Security

                                                                                                                                                                                                      bullMARKETEfficiency and

                                                                                                                                                                                                      Freedom

                                                                                                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                                                                                                      Which economic system does the US use

                                                                                                                                                                                                      The American Economic System

                                                                                                                                                                                                      bullWe have a mixed market economy

                                                                                                                                                                                                      COMMAND MARKET

                                                                                                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                      Think backhellip

                                                                                                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                      2 Limited government

                                                                                                                                                                                                      3 Equal opportunity

                                                                                                                                                                                                      4 Competition

                                                                                                                                                                                                      5 Profit motive

                                                                                                                                                                                                      6 Property Rights

                                                                                                                                                                                                      7 Binding Contracts

                                                                                                                                                                                                      Understanding how all parts fit together

                                                                                                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                      Shows interdependence between

                                                                                                                                                                                                      businesses and individuals

                                                                                                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                      Do you remember

                                                                                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                      democracy and mixed economy

                                                                                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                                                                                      • Slide 3
                                                                                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                                                                                      • Slide 6
                                                                                                                                                                                                      • 2 How about to your life
                                                                                                                                                                                                      • Slide 8
                                                                                                                                                                                                      • Slide 9
                                                                                                                                                                                                      • Slide 10
                                                                                                                                                                                                      • Slide 11
                                                                                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                                                                                      • Individualism
                                                                                                                                                                                                      • Quote activity
                                                                                                                                                                                                      • Quote breakdown
                                                                                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                                                                                      • Purpose of Government
                                                                                                                                                                                                      • Slide 20
                                                                                                                                                                                                      • 3 Theorists
                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                      • Groups Block 2
                                                                                                                                                                                                      • Groups Block 4
                                                                                                                                                                                                      • Balloon Game
                                                                                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                                                                                      • Political Theories
                                                                                                                                                                                                      • Social Contract
                                                                                                                                                                                                      • Natural Rights
                                                                                                                                                                                                      • Democracy
                                                                                                                                                                                                      • Concepts of Government
                                                                                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                                                                                      • Warm Up 7
                                                                                                                                                                                                      • And after the Constitution
                                                                                                                                                                                                      • Activity (2)
                                                                                                                                                                                                      • Picture Activity
                                                                                                                                                                                                      • Constitutional Convention
                                                                                                                                                                                                      • Purpose of the Convention
                                                                                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                      • Your Task
                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                      • States agree
                                                                                                                                                                                                      • Quote
                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                      • 6 Purpose of Government
                                                                                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                                                                                      • Principles of Constitution
                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                      • Slide 60
                                                                                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                                                                                      • Question 1
                                                                                                                                                                                                      • Question 2
                                                                                                                                                                                                      • Question 3
                                                                                                                                                                                                      • Question 4
                                                                                                                                                                                                      • Question 5
                                                                                                                                                                                                      • Question 6
                                                                                                                                                                                                      • Question 7
                                                                                                                                                                                                      • Question 8
                                                                                                                                                                                                      • Groups
                                                                                                                                                                                                      • Separation of Powers
                                                                                                                                                                                                      • Video
                                                                                                                                                                                                      • Checks and Balances
                                                                                                                                                                                                      • Slide 74
                                                                                                                                                                                                      • Checks and balances
                                                                                                                                                                                                      • Basic Principles
                                                                                                                                                                                                      • Self- Worth
                                                                                                                                                                                                      • Equality
                                                                                                                                                                                                      • Compromise
                                                                                                                                                                                                      • Individual Freedom
                                                                                                                                                                                                      • Write your ownhellip
                                                                                                                                                                                                      • Slide 82
                                                                                                                                                                                                      • TED Talk
                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                      • What is Economics
                                                                                                                                                                                                      • Economics ishellip
                                                                                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                      • For the videohellip
                                                                                                                                                                                                      • Slide 90
                                                                                                                                                                                                      • Post Videohellip
                                                                                                                                                                                                      • Advertisement
                                                                                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                                                                                      • Factors of Production
                                                                                                                                                                                                      • TASK
                                                                                                                                                                                                      • The price ofhellip
                                                                                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                      • 1 What to produce
                                                                                                                                                                                                      • 2 How to produce it
                                                                                                                                                                                                      • 3 For whom to produce it
                                                                                                                                                                                                      • Application Activity
                                                                                                                                                                                                      • EQs
                                                                                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                                                                                      • Slide 105
                                                                                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                                                                                      • How do we make goods amp services
                                                                                                                                                                                                      • Economic Interdependence
                                                                                                                                                                                                      • Slide 109
                                                                                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                                                                                      • Exampleshellip
                                                                                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                      • Opportunity Cost
                                                                                                                                                                                                      • What else influences your choices
                                                                                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                                                                                      • PPF Assumptions
                                                                                                                                                                                                      • Slide 121
                                                                                                                                                                                                      • Production Possibilities Curve
                                                                                                                                                                                                      • The Choices Nations Make
                                                                                                                                                                                                      • Economic Growth
                                                                                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                                                                                      • Productivity
                                                                                                                                                                                                      • Locations on a PPF
                                                                                                                                                                                                      • Slide 128
                                                                                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                      • Economic Systems
                                                                                                                                                                                                      • Jigsaw activity
                                                                                                                                                                                                      • Slide 132
                                                                                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                      • Review of Economic Systems
                                                                                                                                                                                                      • Slide 135
                                                                                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                                                                                      • Which economic system does the US use
                                                                                                                                                                                                      • The American Economic System
                                                                                                                                                                                                      • The US mixed economy
                                                                                                                                                                                                      • Slide 140
                                                                                                                                                                                                      • Think backhellip
                                                                                                                                                                                                      • US Economic System Characteristics
                                                                                                                                                                                                      • Slide 143
                                                                                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                                                                                      • Marriage Vows
                                                                                                                                                                                                      • Do you remember
                                                                                                                                                                                                      • Slide 147

                                                                                                                                                                                                        EQs

                                                                                                                                                                                                        bullHow does scarcity impact decision making

                                                                                                                                                                                                        Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                                        I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                                        I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                                        bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                                        Group Activity Budget Activity

                                                                                                                                                                                                        bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                                        bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                                        bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                                        How do we satisfy our economic wants

                                                                                                                                                                                                        bull We buy goods or services

                                                                                                                                                                                                        bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                                        bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                                        How do we make goods amp services

                                                                                                                                                                                                        bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                        Production Equation

                                                                                                                                                                                                        LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                        inputs output

                                                                                                                                                                                                        Economic Interdependence

                                                                                                                                                                                                        bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                        bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                        bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                        country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                        Wants amp Needs gt

                                                                                                                                                                                                        Resources

                                                                                                                                                                                                        Because of scarcity we

                                                                                                                                                                                                        have to make choices

                                                                                                                                                                                                        How do we make a choice What do we give up

                                                                                                                                                                                                        What does this remind you of from our government unit

                                                                                                                                                                                                        Making Choices to Deal With Scarcity

                                                                                                                                                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                        decision over another

                                                                                                                                                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                        school today or should I sleep in

                                                                                                                                                                                                        Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                        In the end what helped you decide amongst your choices

                                                                                                                                                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                        tradeoffs for that decision

                                                                                                                                                                                                        Be prepared to share

                                                                                                                                                                                                        Opportunity Cost

                                                                                                                                                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                        we want

                                                                                                                                                                                                        What else influences your choices

                                                                                                                                                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                        FinallyhellipWhy it Matters

                                                                                                                                                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                        better decision-maker

                                                                                                                                                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                        You always have to give something uphelliprdquo

                                                                                                                                                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                        decisions

                                                                                                                                                                                                        Visualizing the Relationshiphellip

                                                                                                                                                                                                        Limited Resources amp Unlimited Wants

                                                                                                                                                                                                        Scarcity

                                                                                                                                                                                                        Trade-offs (choices)

                                                                                                                                                                                                        Opportunity Costs

                                                                                                                                                                                                        ObjectivesEssential Questions

                                                                                                                                                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                        the three different types of economies

                                                                                                                                                                                                        bullEssential Question How do the different types of economies work

                                                                                                                                                                                                        How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                        Making Choices

                                                                                                                                                                                                        Answer With a Production Possibilities Frontier

                                                                                                                                                                                                        Production Possibilities Frontier

                                                                                                                                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                        PPF Assumptions

                                                                                                                                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                        Production Possibilities Curve

                                                                                                                                                                                                        CD

                                                                                                                                                                                                        E

                                                                                                                                                                                                        OU

                                                                                                                                                                                                        TP

                                                                                                                                                                                                        UT

                                                                                                                                                                                                        OF

                                                                                                                                                                                                        CO

                                                                                                                                                                                                        NS

                                                                                                                                                                                                        UM

                                                                                                                                                                                                        ER

                                                                                                                                                                                                        GO

                                                                                                                                                                                                        OD

                                                                                                                                                                                                        S

                                                                                                                                                                                                        (un

                                                                                                                                                                                                        its

                                                                                                                                                                                                        per

                                                                                                                                                                                                        yea

                                                                                                                                                                                                        r)

                                                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                        A

                                                                                                                                                                                                        BO

                                                                                                                                                                                                        XF

                                                                                                                                                                                                        G

                                                                                                                                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                        The Choices Nations Make

                                                                                                                                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                        bullProduce military goods or consumer goods

                                                                                                                                                                                                        Economic Growth

                                                                                                                                                                                                        2000 production possibilities

                                                                                                                                                                                                        1900 production possibilities

                                                                                                                                                                                                        OU

                                                                                                                                                                                                        TP

                                                                                                                                                                                                        UT

                                                                                                                                                                                                        OF

                                                                                                                                                                                                        CO

                                                                                                                                                                                                        NS

                                                                                                                                                                                                        UM

                                                                                                                                                                                                        ER

                                                                                                                                                                                                        GO

                                                                                                                                                                                                        OD

                                                                                                                                                                                                        S(u

                                                                                                                                                                                                        nits

                                                                                                                                                                                                        per

                                                                                                                                                                                                        yea

                                                                                                                                                                                                        r)

                                                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                        Production possibilities increases with more resources and technology

                                                                                                                                                                                                        The Classic Guns and Butter example

                                                                                                                                                                                                        Guns

                                                                                                                                                                                                        Butter

                                                                                                                                                                                                        10000 20000 30000 40000 50000

                                                                                                                                                                                                        1000009500085000

                                                                                                                                                                                                        70000

                                                                                                                                                                                                        5000040000

                                                                                                                                                                                                        BA

                                                                                                                                                                                                        C

                                                                                                                                                                                                        D

                                                                                                                                                                                                        E

                                                                                                                                                                                                        F

                                                                                                                                                                                                        At point A all resources are used for butter

                                                                                                                                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                        At point F all resources are used for Guns

                                                                                                                                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                        choices are

                                                                                                                                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                        Locations on a PPF

                                                                                                                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                        Food

                                                                                                                                                                                                        Computer

                                                                                                                                                                                                        4

                                                                                                                                                                                                        3

                                                                                                                                                                                                        2

                                                                                                                                                                                                        1

                                                                                                                                                                                                        1 2 3 4

                                                                                                                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                        Unit

                                                                                                                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                                                                                                                        additional computers

                                                                                                                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                        Principle of Increasing Costs

                                                                                                                                                                                                        As a society produces more of one product the OC of producing

                                                                                                                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                        Economic Systems

                                                                                                                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                        Jigsaw activity

                                                                                                                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                                                                                                                        bull Economic Freedom

                                                                                                                                                                                                        bull Economic Efficiency

                                                                                                                                                                                                        bull Economic Equity

                                                                                                                                                                                                        bull Economic Security

                                                                                                                                                                                                        Economic Stability

                                                                                                                                                                                                        Economic Growth

                                                                                                                                                                                                        Review of Economic Systems

                                                                                                                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                        What are the most important goals of each economic system

                                                                                                                                                                                                        bullTraditionalSecurity and

                                                                                                                                                                                                        StabilitybullCommand

                                                                                                                                                                                                        Equity and Security

                                                                                                                                                                                                        bullMARKETEfficiency and

                                                                                                                                                                                                        Freedom

                                                                                                                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                                                                                                                        Which economic system does the US use

                                                                                                                                                                                                        The American Economic System

                                                                                                                                                                                                        bullWe have a mixed market economy

                                                                                                                                                                                                        COMMAND MARKET

                                                                                                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                        Think backhellip

                                                                                                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                        2 Limited government

                                                                                                                                                                                                        3 Equal opportunity

                                                                                                                                                                                                        4 Competition

                                                                                                                                                                                                        5 Profit motive

                                                                                                                                                                                                        6 Property Rights

                                                                                                                                                                                                        7 Binding Contracts

                                                                                                                                                                                                        Understanding how all parts fit together

                                                                                                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                        Shows interdependence between

                                                                                                                                                                                                        businesses and individuals

                                                                                                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                        Do you remember

                                                                                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                        democracy and mixed economy

                                                                                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                                                                                        • Slide 3
                                                                                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                                                                                        • Slide 6
                                                                                                                                                                                                        • 2 How about to your life
                                                                                                                                                                                                        • Slide 8
                                                                                                                                                                                                        • Slide 9
                                                                                                                                                                                                        • Slide 10
                                                                                                                                                                                                        • Slide 11
                                                                                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                                                                                        • Individualism
                                                                                                                                                                                                        • Quote activity
                                                                                                                                                                                                        • Quote breakdown
                                                                                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                                                                                        • Purpose of Government
                                                                                                                                                                                                        • Slide 20
                                                                                                                                                                                                        • 3 Theorists
                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                        • Groups Block 2
                                                                                                                                                                                                        • Groups Block 4
                                                                                                                                                                                                        • Balloon Game
                                                                                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                                                                                        • Political Theories
                                                                                                                                                                                                        • Social Contract
                                                                                                                                                                                                        • Natural Rights
                                                                                                                                                                                                        • Democracy
                                                                                                                                                                                                        • Concepts of Government
                                                                                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                                                                                        • Warm Up 7
                                                                                                                                                                                                        • And after the Constitution
                                                                                                                                                                                                        • Activity (2)
                                                                                                                                                                                                        • Picture Activity
                                                                                                                                                                                                        • Constitutional Convention
                                                                                                                                                                                                        • Purpose of the Convention
                                                                                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                        • Your Task
                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                        • States agree
                                                                                                                                                                                                        • Quote
                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                        • 6 Purpose of Government
                                                                                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                                                                                        • Principles of Constitution
                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                        • Slide 60
                                                                                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                                                                                        • Question 1
                                                                                                                                                                                                        • Question 2
                                                                                                                                                                                                        • Question 3
                                                                                                                                                                                                        • Question 4
                                                                                                                                                                                                        • Question 5
                                                                                                                                                                                                        • Question 6
                                                                                                                                                                                                        • Question 7
                                                                                                                                                                                                        • Question 8
                                                                                                                                                                                                        • Groups
                                                                                                                                                                                                        • Separation of Powers
                                                                                                                                                                                                        • Video
                                                                                                                                                                                                        • Checks and Balances
                                                                                                                                                                                                        • Slide 74
                                                                                                                                                                                                        • Checks and balances
                                                                                                                                                                                                        • Basic Principles
                                                                                                                                                                                                        • Self- Worth
                                                                                                                                                                                                        • Equality
                                                                                                                                                                                                        • Compromise
                                                                                                                                                                                                        • Individual Freedom
                                                                                                                                                                                                        • Write your ownhellip
                                                                                                                                                                                                        • Slide 82
                                                                                                                                                                                                        • TED Talk
                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                        • What is Economics
                                                                                                                                                                                                        • Economics ishellip
                                                                                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                        • For the videohellip
                                                                                                                                                                                                        • Slide 90
                                                                                                                                                                                                        • Post Videohellip
                                                                                                                                                                                                        • Advertisement
                                                                                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                                                                                        • Factors of Production
                                                                                                                                                                                                        • TASK
                                                                                                                                                                                                        • The price ofhellip
                                                                                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                        • 1 What to produce
                                                                                                                                                                                                        • 2 How to produce it
                                                                                                                                                                                                        • 3 For whom to produce it
                                                                                                                                                                                                        • Application Activity
                                                                                                                                                                                                        • EQs
                                                                                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                                                                                        • Slide 105
                                                                                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                                                                                        • How do we make goods amp services
                                                                                                                                                                                                        • Economic Interdependence
                                                                                                                                                                                                        • Slide 109
                                                                                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                                                                                        • Exampleshellip
                                                                                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                        • Opportunity Cost
                                                                                                                                                                                                        • What else influences your choices
                                                                                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                                                                                        • PPF Assumptions
                                                                                                                                                                                                        • Slide 121
                                                                                                                                                                                                        • Production Possibilities Curve
                                                                                                                                                                                                        • The Choices Nations Make
                                                                                                                                                                                                        • Economic Growth
                                                                                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                                                                                        • Productivity
                                                                                                                                                                                                        • Locations on a PPF
                                                                                                                                                                                                        • Slide 128
                                                                                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                        • Economic Systems
                                                                                                                                                                                                        • Jigsaw activity
                                                                                                                                                                                                        • Slide 132
                                                                                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                        • Review of Economic Systems
                                                                                                                                                                                                        • Slide 135
                                                                                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                                                                                        • Which economic system does the US use
                                                                                                                                                                                                        • The American Economic System
                                                                                                                                                                                                        • The US mixed economy
                                                                                                                                                                                                        • Slide 140
                                                                                                                                                                                                        • Think backhellip
                                                                                                                                                                                                        • US Economic System Characteristics
                                                                                                                                                                                                        • Slide 143
                                                                                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                                                                                        • Marriage Vows
                                                                                                                                                                                                        • Do you remember
                                                                                                                                                                                                        • Slide 147

                                                                                                                                                                                                          Objectives amp Essential QuestionsbullObjectives

                                                                                                                                                                                                          I will be able to create and reflect on a budget given new economics content

                                                                                                                                                                                                          I will be able to understand scarcity and our mixed economy

                                                                                                                                                                                                          bullEssential QuestionsHow does scarcity impact decision makingHow do we satisfy our economic wants

                                                                                                                                                                                                          Group Activity Budget Activity

                                                                                                                                                                                                          bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                                          bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                                          bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                                          How do we satisfy our economic wants

                                                                                                                                                                                                          bull We buy goods or services

                                                                                                                                                                                                          bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                                          bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                                          How do we make goods amp services

                                                                                                                                                                                                          bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                          Production Equation

                                                                                                                                                                                                          LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                          inputs output

                                                                                                                                                                                                          Economic Interdependence

                                                                                                                                                                                                          bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                          bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                          bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                          country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                          Wants amp Needs gt

                                                                                                                                                                                                          Resources

                                                                                                                                                                                                          Because of scarcity we

                                                                                                                                                                                                          have to make choices

                                                                                                                                                                                                          How do we make a choice What do we give up

                                                                                                                                                                                                          What does this remind you of from our government unit

                                                                                                                                                                                                          Making Choices to Deal With Scarcity

                                                                                                                                                                                                          bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                          Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                          Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                          decision over another

                                                                                                                                                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                          school today or should I sleep in

                                                                                                                                                                                                          Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                          In the end what helped you decide amongst your choices

                                                                                                                                                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                          tradeoffs for that decision

                                                                                                                                                                                                          Be prepared to share

                                                                                                                                                                                                          Opportunity Cost

                                                                                                                                                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                          we want

                                                                                                                                                                                                          What else influences your choices

                                                                                                                                                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                          FinallyhellipWhy it Matters

                                                                                                                                                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                          better decision-maker

                                                                                                                                                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                          You always have to give something uphelliprdquo

                                                                                                                                                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                          decisions

                                                                                                                                                                                                          Visualizing the Relationshiphellip

                                                                                                                                                                                                          Limited Resources amp Unlimited Wants

                                                                                                                                                                                                          Scarcity

                                                                                                                                                                                                          Trade-offs (choices)

                                                                                                                                                                                                          Opportunity Costs

                                                                                                                                                                                                          ObjectivesEssential Questions

                                                                                                                                                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                          the three different types of economies

                                                                                                                                                                                                          bullEssential Question How do the different types of economies work

                                                                                                                                                                                                          How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                          Making Choices

                                                                                                                                                                                                          Answer With a Production Possibilities Frontier

                                                                                                                                                                                                          Production Possibilities Frontier

                                                                                                                                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                          PPF Assumptions

                                                                                                                                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                          Production Possibilities Curve

                                                                                                                                                                                                          CD

                                                                                                                                                                                                          E

                                                                                                                                                                                                          OU

                                                                                                                                                                                                          TP

                                                                                                                                                                                                          UT

                                                                                                                                                                                                          OF

                                                                                                                                                                                                          CO

                                                                                                                                                                                                          NS

                                                                                                                                                                                                          UM

                                                                                                                                                                                                          ER

                                                                                                                                                                                                          GO

                                                                                                                                                                                                          OD

                                                                                                                                                                                                          S

                                                                                                                                                                                                          (un

                                                                                                                                                                                                          its

                                                                                                                                                                                                          per

                                                                                                                                                                                                          yea

                                                                                                                                                                                                          r)

                                                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                          A

                                                                                                                                                                                                          BO

                                                                                                                                                                                                          XF

                                                                                                                                                                                                          G

                                                                                                                                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                          The Choices Nations Make

                                                                                                                                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                          bullProduce military goods or consumer goods

                                                                                                                                                                                                          Economic Growth

                                                                                                                                                                                                          2000 production possibilities

                                                                                                                                                                                                          1900 production possibilities

                                                                                                                                                                                                          OU

                                                                                                                                                                                                          TP

                                                                                                                                                                                                          UT

                                                                                                                                                                                                          OF

                                                                                                                                                                                                          CO

                                                                                                                                                                                                          NS

                                                                                                                                                                                                          UM

                                                                                                                                                                                                          ER

                                                                                                                                                                                                          GO

                                                                                                                                                                                                          OD

                                                                                                                                                                                                          S(u

                                                                                                                                                                                                          nits

                                                                                                                                                                                                          per

                                                                                                                                                                                                          yea

                                                                                                                                                                                                          r)

                                                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                          Production possibilities increases with more resources and technology

                                                                                                                                                                                                          The Classic Guns and Butter example

                                                                                                                                                                                                          Guns

                                                                                                                                                                                                          Butter

                                                                                                                                                                                                          10000 20000 30000 40000 50000

                                                                                                                                                                                                          1000009500085000

                                                                                                                                                                                                          70000

                                                                                                                                                                                                          5000040000

                                                                                                                                                                                                          BA

                                                                                                                                                                                                          C

                                                                                                                                                                                                          D

                                                                                                                                                                                                          E

                                                                                                                                                                                                          F

                                                                                                                                                                                                          At point A all resources are used for butter

                                                                                                                                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                          At point F all resources are used for Guns

                                                                                                                                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                          choices are

                                                                                                                                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                          Locations on a PPF

                                                                                                                                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                          Food

                                                                                                                                                                                                          Computer

                                                                                                                                                                                                          4

                                                                                                                                                                                                          3

                                                                                                                                                                                                          2

                                                                                                                                                                                                          1

                                                                                                                                                                                                          1 2 3 4

                                                                                                                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                          Unit

                                                                                                                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                                                                                                                          additional computers

                                                                                                                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                          Principle of Increasing Costs

                                                                                                                                                                                                          As a society produces more of one product the OC of producing

                                                                                                                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                          Economic Systems

                                                                                                                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                          Jigsaw activity

                                                                                                                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                                                                                                                          bull Economic Freedom

                                                                                                                                                                                                          bull Economic Efficiency

                                                                                                                                                                                                          bull Economic Equity

                                                                                                                                                                                                          bull Economic Security

                                                                                                                                                                                                          Economic Stability

                                                                                                                                                                                                          Economic Growth

                                                                                                                                                                                                          Review of Economic Systems

                                                                                                                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                          What are the most important goals of each economic system

                                                                                                                                                                                                          bullTraditionalSecurity and

                                                                                                                                                                                                          StabilitybullCommand

                                                                                                                                                                                                          Equity and Security

                                                                                                                                                                                                          bullMARKETEfficiency and

                                                                                                                                                                                                          Freedom

                                                                                                                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                                                                                                                          Which economic system does the US use

                                                                                                                                                                                                          The American Economic System

                                                                                                                                                                                                          bullWe have a mixed market economy

                                                                                                                                                                                                          COMMAND MARKET

                                                                                                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                          Think backhellip

                                                                                                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                          2 Limited government

                                                                                                                                                                                                          3 Equal opportunity

                                                                                                                                                                                                          4 Competition

                                                                                                                                                                                                          5 Profit motive

                                                                                                                                                                                                          6 Property Rights

                                                                                                                                                                                                          7 Binding Contracts

                                                                                                                                                                                                          Understanding how all parts fit together

                                                                                                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                          Shows interdependence between

                                                                                                                                                                                                          businesses and individuals

                                                                                                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                          Do you remember

                                                                                                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                          democracy and mixed economy

                                                                                                                                                                                                          • Foundations of Government and Economics
                                                                                                                                                                                                          • On your blank piece of paperhellip
                                                                                                                                                                                                          • Slide 3
                                                                                                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                                                                                                          • Introductory thoughts hellip
                                                                                                                                                                                                          • Slide 6
                                                                                                                                                                                                          • 2 How about to your life
                                                                                                                                                                                                          • Slide 8
                                                                                                                                                                                                          • Slide 9
                                                                                                                                                                                                          • Slide 10
                                                                                                                                                                                                          • Slide 11
                                                                                                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                                                                                                          • Economist and Politician Assumptions
                                                                                                                                                                                                          • Individualism
                                                                                                                                                                                                          • Quote activity
                                                                                                                                                                                                          • Quote breakdown
                                                                                                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                                                                                                          • Purpose of Government
                                                                                                                                                                                                          • Slide 20
                                                                                                                                                                                                          • 3 Theorists
                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                          • Origins of American Government A customized government
                                                                                                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                                                                                                          • With which theory do you agree more Why
                                                                                                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                          • Groups Block 2
                                                                                                                                                                                                          • Groups Block 4
                                                                                                                                                                                                          • Balloon Game
                                                                                                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                          • Balloon Game Debriefing
                                                                                                                                                                                                          • Political Theories
                                                                                                                                                                                                          • Social Contract
                                                                                                                                                                                                          • Natural Rights
                                                                                                                                                                                                          • Democracy
                                                                                                                                                                                                          • Concepts of Government
                                                                                                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                                                                                                          • Warm Up 7
                                                                                                                                                                                                          • And after the Constitution
                                                                                                                                                                                                          • Activity (2)
                                                                                                                                                                                                          • Picture Activity
                                                                                                                                                                                                          • Constitutional Convention
                                                                                                                                                                                                          • Purpose of the Convention
                                                                                                                                                                                                          • VA Plan v NJ Plan
                                                                                                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                          • Your Task
                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                          • States agree
                                                                                                                                                                                                          • Quote
                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                          • 6 Purpose of Government
                                                                                                                                                                                                          • Structure of Constitution (2)
                                                                                                                                                                                                          • Structure of Constitution (3)
                                                                                                                                                                                                          • Principles of Constitution
                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                          • Slide 60
                                                                                                                                                                                                          • Check for Understanding Six Principles
                                                                                                                                                                                                          • Question 1
                                                                                                                                                                                                          • Question 2
                                                                                                                                                                                                          • Question 3
                                                                                                                                                                                                          • Question 4
                                                                                                                                                                                                          • Question 5
                                                                                                                                                                                                          • Question 6
                                                                                                                                                                                                          • Question 7
                                                                                                                                                                                                          • Question 8
                                                                                                                                                                                                          • Groups
                                                                                                                                                                                                          • Separation of Powers
                                                                                                                                                                                                          • Video
                                                                                                                                                                                                          • Checks and Balances
                                                                                                                                                                                                          • Slide 74
                                                                                                                                                                                                          • Checks and balances
                                                                                                                                                                                                          • Basic Principles
                                                                                                                                                                                                          • Self- Worth
                                                                                                                                                                                                          • Equality
                                                                                                                                                                                                          • Compromise
                                                                                                                                                                                                          • Individual Freedom
                                                                                                                                                                                                          • Write your ownhellip
                                                                                                                                                                                                          • Slide 82
                                                                                                                                                                                                          • TED Talk
                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                          • What is Economics
                                                                                                                                                                                                          • Economics ishellip
                                                                                                                                                                                                          • Back to our assumptionshellip
                                                                                                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                          • For the videohellip
                                                                                                                                                                                                          • Slide 90
                                                                                                                                                                                                          • Post Videohellip
                                                                                                                                                                                                          • Advertisement
                                                                                                                                                                                                          • Political Cartoon Analysis
                                                                                                                                                                                                          • Factors of Production
                                                                                                                                                                                                          • TASK
                                                                                                                                                                                                          • The price ofhellip
                                                                                                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                          • 1 What to produce
                                                                                                                                                                                                          • 2 How to produce it
                                                                                                                                                                                                          • 3 For whom to produce it
                                                                                                                                                                                                          • Application Activity
                                                                                                                                                                                                          • EQs
                                                                                                                                                                                                          • Objectives amp Essential Questions
                                                                                                                                                                                                          • Group Activity Budget Activity
                                                                                                                                                                                                          • Slide 105
                                                                                                                                                                                                          • How do we satisfy our economic wants
                                                                                                                                                                                                          • How do we make goods amp services
                                                                                                                                                                                                          • Economic Interdependence
                                                                                                                                                                                                          • Slide 109
                                                                                                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                                                                                                          • Exampleshellip
                                                                                                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                          • Opportunity Cost
                                                                                                                                                                                                          • What else influences your choices
                                                                                                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                                                                                                          • ObjectivesEssential Questions
                                                                                                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                          • Production Possibilities Frontier
                                                                                                                                                                                                          • PPF Assumptions
                                                                                                                                                                                                          • Slide 121
                                                                                                                                                                                                          • Production Possibilities Curve
                                                                                                                                                                                                          • The Choices Nations Make
                                                                                                                                                                                                          • Economic Growth
                                                                                                                                                                                                          • The Classic Guns and Butter example
                                                                                                                                                                                                          • Productivity
                                                                                                                                                                                                          • Locations on a PPF
                                                                                                                                                                                                          • Slide 128
                                                                                                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                          • Economic Systems
                                                                                                                                                                                                          • Jigsaw activity
                                                                                                                                                                                                          • Slide 132
                                                                                                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                          • Review of Economic Systems
                                                                                                                                                                                                          • Slide 135
                                                                                                                                                                                                          • What are the most important goals of each economic system
                                                                                                                                                                                                          • Which economic system does the US use
                                                                                                                                                                                                          • The American Economic System
                                                                                                                                                                                                          • The US mixed economy
                                                                                                                                                                                                          • Slide 140
                                                                                                                                                                                                          • Think backhellip
                                                                                                                                                                                                          • US Economic System Characteristics
                                                                                                                                                                                                          • Slide 143
                                                                                                                                                                                                          • Understanding how all parts fit together
                                                                                                                                                                                                          • Marriage Vows
                                                                                                                                                                                                          • Do you remember
                                                                                                                                                                                                          • Slide 147

                                                                                                                                                                                                            Group Activity Budget Activity

                                                                                                                                                                                                            bullTeacher will break you into groups In your groups you will be creating a budget for a single family

                                                                                                                                                                                                            bullYour group has been given an income for a year Given your family situation negotiate with your ldquofamilyrdquo to complete a budget for 1 month (keep in mind your $$ is in a given year)

                                                                                                                                                                                                            bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                                            How do we satisfy our economic wants

                                                                                                                                                                                                            bull We buy goods or services

                                                                                                                                                                                                            bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                                            bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                                            How do we make goods amp services

                                                                                                                                                                                                            bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                            Production Equation

                                                                                                                                                                                                            LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                            inputs output

                                                                                                                                                                                                            Economic Interdependence

                                                                                                                                                                                                            bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                            bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                            bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                            country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                            Wants amp Needs gt

                                                                                                                                                                                                            Resources

                                                                                                                                                                                                            Because of scarcity we

                                                                                                                                                                                                            have to make choices

                                                                                                                                                                                                            How do we make a choice What do we give up

                                                                                                                                                                                                            What does this remind you of from our government unit

                                                                                                                                                                                                            Making Choices to Deal With Scarcity

                                                                                                                                                                                                            bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                            Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                            Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                            decision over another

                                                                                                                                                                                                            ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                            HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                            bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                            school today or should I sleep in

                                                                                                                                                                                                            Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                            In the end what helped you decide amongst your choices

                                                                                                                                                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                            tradeoffs for that decision

                                                                                                                                                                                                            Be prepared to share

                                                                                                                                                                                                            Opportunity Cost

                                                                                                                                                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                            we want

                                                                                                                                                                                                            What else influences your choices

                                                                                                                                                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                            FinallyhellipWhy it Matters

                                                                                                                                                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                            better decision-maker

                                                                                                                                                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                            You always have to give something uphelliprdquo

                                                                                                                                                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                            decisions

                                                                                                                                                                                                            Visualizing the Relationshiphellip

                                                                                                                                                                                                            Limited Resources amp Unlimited Wants

                                                                                                                                                                                                            Scarcity

                                                                                                                                                                                                            Trade-offs (choices)

                                                                                                                                                                                                            Opportunity Costs

                                                                                                                                                                                                            ObjectivesEssential Questions

                                                                                                                                                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                            the three different types of economies

                                                                                                                                                                                                            bullEssential Question How do the different types of economies work

                                                                                                                                                                                                            How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                            Making Choices

                                                                                                                                                                                                            Answer With a Production Possibilities Frontier

                                                                                                                                                                                                            Production Possibilities Frontier

                                                                                                                                                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                            PPF Assumptions

                                                                                                                                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                            Production Possibilities Curve

                                                                                                                                                                                                            CD

                                                                                                                                                                                                            E

                                                                                                                                                                                                            OU

                                                                                                                                                                                                            TP

                                                                                                                                                                                                            UT

                                                                                                                                                                                                            OF

                                                                                                                                                                                                            CO

                                                                                                                                                                                                            NS

                                                                                                                                                                                                            UM

                                                                                                                                                                                                            ER

                                                                                                                                                                                                            GO

                                                                                                                                                                                                            OD

                                                                                                                                                                                                            S

                                                                                                                                                                                                            (un

                                                                                                                                                                                                            its

                                                                                                                                                                                                            per

                                                                                                                                                                                                            yea

                                                                                                                                                                                                            r)

                                                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                            A

                                                                                                                                                                                                            BO

                                                                                                                                                                                                            XF

                                                                                                                                                                                                            G

                                                                                                                                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                            The Choices Nations Make

                                                                                                                                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                            bullProduce military goods or consumer goods

                                                                                                                                                                                                            Economic Growth

                                                                                                                                                                                                            2000 production possibilities

                                                                                                                                                                                                            1900 production possibilities

                                                                                                                                                                                                            OU

                                                                                                                                                                                                            TP

                                                                                                                                                                                                            UT

                                                                                                                                                                                                            OF

                                                                                                                                                                                                            CO

                                                                                                                                                                                                            NS

                                                                                                                                                                                                            UM

                                                                                                                                                                                                            ER

                                                                                                                                                                                                            GO

                                                                                                                                                                                                            OD

                                                                                                                                                                                                            S(u

                                                                                                                                                                                                            nits

                                                                                                                                                                                                            per

                                                                                                                                                                                                            yea

                                                                                                                                                                                                            r)

                                                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                            Production possibilities increases with more resources and technology

                                                                                                                                                                                                            The Classic Guns and Butter example

                                                                                                                                                                                                            Guns

                                                                                                                                                                                                            Butter

                                                                                                                                                                                                            10000 20000 30000 40000 50000

                                                                                                                                                                                                            1000009500085000

                                                                                                                                                                                                            70000

                                                                                                                                                                                                            5000040000

                                                                                                                                                                                                            BA

                                                                                                                                                                                                            C

                                                                                                                                                                                                            D

                                                                                                                                                                                                            E

                                                                                                                                                                                                            F

                                                                                                                                                                                                            At point A all resources are used for butter

                                                                                                                                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                            At point F all resources are used for Guns

                                                                                                                                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                            choices are

                                                                                                                                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                            Locations on a PPF

                                                                                                                                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                            Food

                                                                                                                                                                                                            Computer

                                                                                                                                                                                                            4

                                                                                                                                                                                                            3

                                                                                                                                                                                                            2

                                                                                                                                                                                                            1

                                                                                                                                                                                                            1 2 3 4

                                                                                                                                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                            Unit

                                                                                                                                                                                                            Constantly giving up the same quantity of food to get

                                                                                                                                                                                                            additional computers

                                                                                                                                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                            Principle of Increasing Costs

                                                                                                                                                                                                            As a society produces more of one product the OC of producing

                                                                                                                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                            Economic Systems

                                                                                                                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                            Jigsaw activity

                                                                                                                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                                                                                                                            bull Economic Freedom

                                                                                                                                                                                                            bull Economic Efficiency

                                                                                                                                                                                                            bull Economic Equity

                                                                                                                                                                                                            bull Economic Security

                                                                                                                                                                                                            Economic Stability

                                                                                                                                                                                                            Economic Growth

                                                                                                                                                                                                            Review of Economic Systems

                                                                                                                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                            What are the most important goals of each economic system

                                                                                                                                                                                                            bullTraditionalSecurity and

                                                                                                                                                                                                            StabilitybullCommand

                                                                                                                                                                                                            Equity and Security

                                                                                                                                                                                                            bullMARKETEfficiency and

                                                                                                                                                                                                            Freedom

                                                                                                                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                                                                                                                            Which economic system does the US use

                                                                                                                                                                                                            The American Economic System

                                                                                                                                                                                                            bullWe have a mixed market economy

                                                                                                                                                                                                            COMMAND MARKET

                                                                                                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                            Think backhellip

                                                                                                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                            2 Limited government

                                                                                                                                                                                                            3 Equal opportunity

                                                                                                                                                                                                            4 Competition

                                                                                                                                                                                                            5 Profit motive

                                                                                                                                                                                                            6 Property Rights

                                                                                                                                                                                                            7 Binding Contracts

                                                                                                                                                                                                            Understanding how all parts fit together

                                                                                                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                            Shows interdependence between

                                                                                                                                                                                                            businesses and individuals

                                                                                                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                            Do you remember

                                                                                                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                            democracy and mixed economy

                                                                                                                                                                                                            • Foundations of Government and Economics
                                                                                                                                                                                                            • On your blank piece of paperhellip
                                                                                                                                                                                                            • Slide 3
                                                                                                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                                                                                                            • Introductory thoughts hellip
                                                                                                                                                                                                            • Slide 6
                                                                                                                                                                                                            • 2 How about to your life
                                                                                                                                                                                                            • Slide 8
                                                                                                                                                                                                            • Slide 9
                                                                                                                                                                                                            • Slide 10
                                                                                                                                                                                                            • Slide 11
                                                                                                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                                                                                                            • Economist and Politician Assumptions
                                                                                                                                                                                                            • Individualism
                                                                                                                                                                                                            • Quote activity
                                                                                                                                                                                                            • Quote breakdown
                                                                                                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                                                                                                            • Purpose of Government
                                                                                                                                                                                                            • Slide 20
                                                                                                                                                                                                            • 3 Theorists
                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                            • Origins of American Government A customized government
                                                                                                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                                                                                                            • With which theory do you agree more Why
                                                                                                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                            • Groups Block 2
                                                                                                                                                                                                            • Groups Block 4
                                                                                                                                                                                                            • Balloon Game
                                                                                                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                            • Balloon Game Debriefing
                                                                                                                                                                                                            • Political Theories
                                                                                                                                                                                                            • Social Contract
                                                                                                                                                                                                            • Natural Rights
                                                                                                                                                                                                            • Democracy
                                                                                                                                                                                                            • Concepts of Government
                                                                                                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                                                                                                            • Warm Up 7
                                                                                                                                                                                                            • And after the Constitution
                                                                                                                                                                                                            • Activity (2)
                                                                                                                                                                                                            • Picture Activity
                                                                                                                                                                                                            • Constitutional Convention
                                                                                                                                                                                                            • Purpose of the Convention
                                                                                                                                                                                                            • VA Plan v NJ Plan
                                                                                                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                            • Your Task
                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                            • States agree
                                                                                                                                                                                                            • Quote
                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                            • 6 Purpose of Government
                                                                                                                                                                                                            • Structure of Constitution (2)
                                                                                                                                                                                                            • Structure of Constitution (3)
                                                                                                                                                                                                            • Principles of Constitution
                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                            • Slide 60
                                                                                                                                                                                                            • Check for Understanding Six Principles
                                                                                                                                                                                                            • Question 1
                                                                                                                                                                                                            • Question 2
                                                                                                                                                                                                            • Question 3
                                                                                                                                                                                                            • Question 4
                                                                                                                                                                                                            • Question 5
                                                                                                                                                                                                            • Question 6
                                                                                                                                                                                                            • Question 7
                                                                                                                                                                                                            • Question 8
                                                                                                                                                                                                            • Groups
                                                                                                                                                                                                            • Separation of Powers
                                                                                                                                                                                                            • Video
                                                                                                                                                                                                            • Checks and Balances
                                                                                                                                                                                                            • Slide 74
                                                                                                                                                                                                            • Checks and balances
                                                                                                                                                                                                            • Basic Principles
                                                                                                                                                                                                            • Self- Worth
                                                                                                                                                                                                            • Equality
                                                                                                                                                                                                            • Compromise
                                                                                                                                                                                                            • Individual Freedom
                                                                                                                                                                                                            • Write your ownhellip
                                                                                                                                                                                                            • Slide 82
                                                                                                                                                                                                            • TED Talk
                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                            • What is Economics
                                                                                                                                                                                                            • Economics ishellip
                                                                                                                                                                                                            • Back to our assumptionshellip
                                                                                                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                            • For the videohellip
                                                                                                                                                                                                            • Slide 90
                                                                                                                                                                                                            • Post Videohellip
                                                                                                                                                                                                            • Advertisement
                                                                                                                                                                                                            • Political Cartoon Analysis
                                                                                                                                                                                                            • Factors of Production
                                                                                                                                                                                                            • TASK
                                                                                                                                                                                                            • The price ofhellip
                                                                                                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                            • 1 What to produce
                                                                                                                                                                                                            • 2 How to produce it
                                                                                                                                                                                                            • 3 For whom to produce it
                                                                                                                                                                                                            • Application Activity
                                                                                                                                                                                                            • EQs
                                                                                                                                                                                                            • Objectives amp Essential Questions
                                                                                                                                                                                                            • Group Activity Budget Activity
                                                                                                                                                                                                            • Slide 105
                                                                                                                                                                                                            • How do we satisfy our economic wants
                                                                                                                                                                                                            • How do we make goods amp services
                                                                                                                                                                                                            • Economic Interdependence
                                                                                                                                                                                                            • Slide 109
                                                                                                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                                                                                                            • Exampleshellip
                                                                                                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                            • Opportunity Cost
                                                                                                                                                                                                            • What else influences your choices
                                                                                                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                                                                                                            • ObjectivesEssential Questions
                                                                                                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                            • Production Possibilities Frontier
                                                                                                                                                                                                            • PPF Assumptions
                                                                                                                                                                                                            • Slide 121
                                                                                                                                                                                                            • Production Possibilities Curve
                                                                                                                                                                                                            • The Choices Nations Make
                                                                                                                                                                                                            • Economic Growth
                                                                                                                                                                                                            • The Classic Guns and Butter example
                                                                                                                                                                                                            • Productivity
                                                                                                                                                                                                            • Locations on a PPF
                                                                                                                                                                                                            • Slide 128
                                                                                                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                            • Economic Systems
                                                                                                                                                                                                            • Jigsaw activity
                                                                                                                                                                                                            • Slide 132
                                                                                                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                            • Review of Economic Systems
                                                                                                                                                                                                            • Slide 135
                                                                                                                                                                                                            • What are the most important goals of each economic system
                                                                                                                                                                                                            • Which economic system does the US use
                                                                                                                                                                                                            • The American Economic System
                                                                                                                                                                                                            • The US mixed economy
                                                                                                                                                                                                            • Slide 140
                                                                                                                                                                                                            • Think backhellip
                                                                                                                                                                                                            • US Economic System Characteristics
                                                                                                                                                                                                            • Slide 143
                                                                                                                                                                                                            • Understanding how all parts fit together
                                                                                                                                                                                                            • Marriage Vows
                                                                                                                                                                                                            • Do you remember
                                                                                                                                                                                                            • Slide 147

                                                                                                                                                                                                              bullhttpwwwyoutubecomwatchv=yoVc_S_gd_0

                                                                                                                                                                                                              How do we satisfy our economic wants

                                                                                                                                                                                                              bull We buy goods or services

                                                                                                                                                                                                              bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                                              bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                                              How do we make goods amp services

                                                                                                                                                                                                              bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                              Production Equation

                                                                                                                                                                                                              LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                              inputs output

                                                                                                                                                                                                              Economic Interdependence

                                                                                                                                                                                                              bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                              bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                              bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                              country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                              Wants amp Needs gt

                                                                                                                                                                                                              Resources

                                                                                                                                                                                                              Because of scarcity we

                                                                                                                                                                                                              have to make choices

                                                                                                                                                                                                              How do we make a choice What do we give up

                                                                                                                                                                                                              What does this remind you of from our government unit

                                                                                                                                                                                                              Making Choices to Deal With Scarcity

                                                                                                                                                                                                              bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                              Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                              Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                              decision over another

                                                                                                                                                                                                              ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                              HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                              bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                              school today or should I sleep in

                                                                                                                                                                                                              Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                              In the end what helped you decide amongst your choices

                                                                                                                                                                                                              Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                              tradeoffs for that decision

                                                                                                                                                                                                              Be prepared to share

                                                                                                                                                                                                              Opportunity Cost

                                                                                                                                                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                              we want

                                                                                                                                                                                                              What else influences your choices

                                                                                                                                                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                              FinallyhellipWhy it Matters

                                                                                                                                                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                              better decision-maker

                                                                                                                                                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                              You always have to give something uphelliprdquo

                                                                                                                                                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                              decisions

                                                                                                                                                                                                              Visualizing the Relationshiphellip

                                                                                                                                                                                                              Limited Resources amp Unlimited Wants

                                                                                                                                                                                                              Scarcity

                                                                                                                                                                                                              Trade-offs (choices)

                                                                                                                                                                                                              Opportunity Costs

                                                                                                                                                                                                              ObjectivesEssential Questions

                                                                                                                                                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                              the three different types of economies

                                                                                                                                                                                                              bullEssential Question How do the different types of economies work

                                                                                                                                                                                                              How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                              Making Choices

                                                                                                                                                                                                              Answer With a Production Possibilities Frontier

                                                                                                                                                                                                              Production Possibilities Frontier

                                                                                                                                                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                              PPF Assumptions

                                                                                                                                                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                              Production Possibilities Curve

                                                                                                                                                                                                              CD

                                                                                                                                                                                                              E

                                                                                                                                                                                                              OU

                                                                                                                                                                                                              TP

                                                                                                                                                                                                              UT

                                                                                                                                                                                                              OF

                                                                                                                                                                                                              CO

                                                                                                                                                                                                              NS

                                                                                                                                                                                                              UM

                                                                                                                                                                                                              ER

                                                                                                                                                                                                              GO

                                                                                                                                                                                                              OD

                                                                                                                                                                                                              S

                                                                                                                                                                                                              (un

                                                                                                                                                                                                              its

                                                                                                                                                                                                              per

                                                                                                                                                                                                              yea

                                                                                                                                                                                                              r)

                                                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                              A

                                                                                                                                                                                                              BO

                                                                                                                                                                                                              XF

                                                                                                                                                                                                              G

                                                                                                                                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                              The Choices Nations Make

                                                                                                                                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                              bullProduce military goods or consumer goods

                                                                                                                                                                                                              Economic Growth

                                                                                                                                                                                                              2000 production possibilities

                                                                                                                                                                                                              1900 production possibilities

                                                                                                                                                                                                              OU

                                                                                                                                                                                                              TP

                                                                                                                                                                                                              UT

                                                                                                                                                                                                              OF

                                                                                                                                                                                                              CO

                                                                                                                                                                                                              NS

                                                                                                                                                                                                              UM

                                                                                                                                                                                                              ER

                                                                                                                                                                                                              GO

                                                                                                                                                                                                              OD

                                                                                                                                                                                                              S(u

                                                                                                                                                                                                              nits

                                                                                                                                                                                                              per

                                                                                                                                                                                                              yea

                                                                                                                                                                                                              r)

                                                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                              Production possibilities increases with more resources and technology

                                                                                                                                                                                                              The Classic Guns and Butter example

                                                                                                                                                                                                              Guns

                                                                                                                                                                                                              Butter

                                                                                                                                                                                                              10000 20000 30000 40000 50000

                                                                                                                                                                                                              1000009500085000

                                                                                                                                                                                                              70000

                                                                                                                                                                                                              5000040000

                                                                                                                                                                                                              BA

                                                                                                                                                                                                              C

                                                                                                                                                                                                              D

                                                                                                                                                                                                              E

                                                                                                                                                                                                              F

                                                                                                                                                                                                              At point A all resources are used for butter

                                                                                                                                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                              At point F all resources are used for Guns

                                                                                                                                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                              choices are

                                                                                                                                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                              Locations on a PPF

                                                                                                                                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                              Food

                                                                                                                                                                                                              Computer

                                                                                                                                                                                                              4

                                                                                                                                                                                                              3

                                                                                                                                                                                                              2

                                                                                                                                                                                                              1

                                                                                                                                                                                                              1 2 3 4

                                                                                                                                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                              Unit

                                                                                                                                                                                                              Constantly giving up the same quantity of food to get

                                                                                                                                                                                                              additional computers

                                                                                                                                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                              Principle of Increasing Costs

                                                                                                                                                                                                              As a society produces more of one product the OC of producing

                                                                                                                                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                              Economic Systems

                                                                                                                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                              Jigsaw activity

                                                                                                                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                                                                                                                              bull Economic Freedom

                                                                                                                                                                                                              bull Economic Efficiency

                                                                                                                                                                                                              bull Economic Equity

                                                                                                                                                                                                              bull Economic Security

                                                                                                                                                                                                              Economic Stability

                                                                                                                                                                                                              Economic Growth

                                                                                                                                                                                                              Review of Economic Systems

                                                                                                                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                              What are the most important goals of each economic system

                                                                                                                                                                                                              bullTraditionalSecurity and

                                                                                                                                                                                                              StabilitybullCommand

                                                                                                                                                                                                              Equity and Security

                                                                                                                                                                                                              bullMARKETEfficiency and

                                                                                                                                                                                                              Freedom

                                                                                                                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                                                                                                                              Which economic system does the US use

                                                                                                                                                                                                              The American Economic System

                                                                                                                                                                                                              bullWe have a mixed market economy

                                                                                                                                                                                                              COMMAND MARKET

                                                                                                                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                              Think backhellip

                                                                                                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                              2 Limited government

                                                                                                                                                                                                              3 Equal opportunity

                                                                                                                                                                                                              4 Competition

                                                                                                                                                                                                              5 Profit motive

                                                                                                                                                                                                              6 Property Rights

                                                                                                                                                                                                              7 Binding Contracts

                                                                                                                                                                                                              Understanding how all parts fit together

                                                                                                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                              Shows interdependence between

                                                                                                                                                                                                              businesses and individuals

                                                                                                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                              Do you remember

                                                                                                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                              democracy and mixed economy

                                                                                                                                                                                                              • Foundations of Government and Economics
                                                                                                                                                                                                              • On your blank piece of paperhellip
                                                                                                                                                                                                              • Slide 3
                                                                                                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                                                                                                              • Introductory thoughts hellip
                                                                                                                                                                                                              • Slide 6
                                                                                                                                                                                                              • 2 How about to your life
                                                                                                                                                                                                              • Slide 8
                                                                                                                                                                                                              • Slide 9
                                                                                                                                                                                                              • Slide 10
                                                                                                                                                                                                              • Slide 11
                                                                                                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                                                                                                              • Economist and Politician Assumptions
                                                                                                                                                                                                              • Individualism
                                                                                                                                                                                                              • Quote activity
                                                                                                                                                                                                              • Quote breakdown
                                                                                                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                                                                                                              • Purpose of Government
                                                                                                                                                                                                              • Slide 20
                                                                                                                                                                                                              • 3 Theorists
                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                              • Origins of American Government A customized government
                                                                                                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                                                                                                              • With which theory do you agree more Why
                                                                                                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                              • Groups Block 2
                                                                                                                                                                                                              • Groups Block 4
                                                                                                                                                                                                              • Balloon Game
                                                                                                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                              • Balloon Game Debriefing
                                                                                                                                                                                                              • Political Theories
                                                                                                                                                                                                              • Social Contract
                                                                                                                                                                                                              • Natural Rights
                                                                                                                                                                                                              • Democracy
                                                                                                                                                                                                              • Concepts of Government
                                                                                                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                                                                                                              • Warm Up 7
                                                                                                                                                                                                              • And after the Constitution
                                                                                                                                                                                                              • Activity (2)
                                                                                                                                                                                                              • Picture Activity
                                                                                                                                                                                                              • Constitutional Convention
                                                                                                                                                                                                              • Purpose of the Convention
                                                                                                                                                                                                              • VA Plan v NJ Plan
                                                                                                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                              • Your Task
                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                              • States agree
                                                                                                                                                                                                              • Quote
                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                              • 6 Purpose of Government
                                                                                                                                                                                                              • Structure of Constitution (2)
                                                                                                                                                                                                              • Structure of Constitution (3)
                                                                                                                                                                                                              • Principles of Constitution
                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                              • Slide 60
                                                                                                                                                                                                              • Check for Understanding Six Principles
                                                                                                                                                                                                              • Question 1
                                                                                                                                                                                                              • Question 2
                                                                                                                                                                                                              • Question 3
                                                                                                                                                                                                              • Question 4
                                                                                                                                                                                                              • Question 5
                                                                                                                                                                                                              • Question 6
                                                                                                                                                                                                              • Question 7
                                                                                                                                                                                                              • Question 8
                                                                                                                                                                                                              • Groups
                                                                                                                                                                                                              • Separation of Powers
                                                                                                                                                                                                              • Video
                                                                                                                                                                                                              • Checks and Balances
                                                                                                                                                                                                              • Slide 74
                                                                                                                                                                                                              • Checks and balances
                                                                                                                                                                                                              • Basic Principles
                                                                                                                                                                                                              • Self- Worth
                                                                                                                                                                                                              • Equality
                                                                                                                                                                                                              • Compromise
                                                                                                                                                                                                              • Individual Freedom
                                                                                                                                                                                                              • Write your ownhellip
                                                                                                                                                                                                              • Slide 82
                                                                                                                                                                                                              • TED Talk
                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                              • What is Economics
                                                                                                                                                                                                              • Economics ishellip
                                                                                                                                                                                                              • Back to our assumptionshellip
                                                                                                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                              • For the videohellip
                                                                                                                                                                                                              • Slide 90
                                                                                                                                                                                                              • Post Videohellip
                                                                                                                                                                                                              • Advertisement
                                                                                                                                                                                                              • Political Cartoon Analysis
                                                                                                                                                                                                              • Factors of Production
                                                                                                                                                                                                              • TASK
                                                                                                                                                                                                              • The price ofhellip
                                                                                                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                              • 1 What to produce
                                                                                                                                                                                                              • 2 How to produce it
                                                                                                                                                                                                              • 3 For whom to produce it
                                                                                                                                                                                                              • Application Activity
                                                                                                                                                                                                              • EQs
                                                                                                                                                                                                              • Objectives amp Essential Questions
                                                                                                                                                                                                              • Group Activity Budget Activity
                                                                                                                                                                                                              • Slide 105
                                                                                                                                                                                                              • How do we satisfy our economic wants
                                                                                                                                                                                                              • How do we make goods amp services
                                                                                                                                                                                                              • Economic Interdependence
                                                                                                                                                                                                              • Slide 109
                                                                                                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                                                                                                              • Exampleshellip
                                                                                                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                              • Opportunity Cost
                                                                                                                                                                                                              • What else influences your choices
                                                                                                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                                                                                                              • ObjectivesEssential Questions
                                                                                                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                              • Production Possibilities Frontier
                                                                                                                                                                                                              • PPF Assumptions
                                                                                                                                                                                                              • Slide 121
                                                                                                                                                                                                              • Production Possibilities Curve
                                                                                                                                                                                                              • The Choices Nations Make
                                                                                                                                                                                                              • Economic Growth
                                                                                                                                                                                                              • The Classic Guns and Butter example
                                                                                                                                                                                                              • Productivity
                                                                                                                                                                                                              • Locations on a PPF
                                                                                                                                                                                                              • Slide 128
                                                                                                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                              • Economic Systems
                                                                                                                                                                                                              • Jigsaw activity
                                                                                                                                                                                                              • Slide 132
                                                                                                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                              • Review of Economic Systems
                                                                                                                                                                                                              • Slide 135
                                                                                                                                                                                                              • What are the most important goals of each economic system
                                                                                                                                                                                                              • Which economic system does the US use
                                                                                                                                                                                                              • The American Economic System
                                                                                                                                                                                                              • The US mixed economy
                                                                                                                                                                                                              • Slide 140
                                                                                                                                                                                                              • Think backhellip
                                                                                                                                                                                                              • US Economic System Characteristics
                                                                                                                                                                                                              • Slide 143
                                                                                                                                                                                                              • Understanding how all parts fit together
                                                                                                                                                                                                              • Marriage Vows
                                                                                                                                                                                                              • Do you remember
                                                                                                                                                                                                              • Slide 147

                                                                                                                                                                                                                How do we satisfy our economic wants

                                                                                                                                                                                                                bull We buy goods or services

                                                                                                                                                                                                                bull Good ndash a physical object (tangible) that has been produced for salebull Durable ndash last 3+ yearsbull Nondurable ndash last up to 3 years

                                                                                                                                                                                                                bull Service ndash work done by someone else for which someone is willing to pay

                                                                                                                                                                                                                How do we make goods amp services

                                                                                                                                                                                                                bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                                Production Equation

                                                                                                                                                                                                                LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                                inputs output

                                                                                                                                                                                                                Economic Interdependence

                                                                                                                                                                                                                bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                                bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                                bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                                country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                                Wants amp Needs gt

                                                                                                                                                                                                                Resources

                                                                                                                                                                                                                Because of scarcity we

                                                                                                                                                                                                                have to make choices

                                                                                                                                                                                                                How do we make a choice What do we give up

                                                                                                                                                                                                                What does this remind you of from our government unit

                                                                                                                                                                                                                Making Choices to Deal With Scarcity

                                                                                                                                                                                                                bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                                Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                                Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                                decision over another

                                                                                                                                                                                                                ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                                HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                                bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                                school today or should I sleep in

                                                                                                                                                                                                                Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                                In the end what helped you decide amongst your choices

                                                                                                                                                                                                                Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                                tradeoffs for that decision

                                                                                                                                                                                                                Be prepared to share

                                                                                                                                                                                                                Opportunity Cost

                                                                                                                                                                                                                bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                                bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                                Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                                we want

                                                                                                                                                                                                                What else influences your choices

                                                                                                                                                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                                FinallyhellipWhy it Matters

                                                                                                                                                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                better decision-maker

                                                                                                                                                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                You always have to give something uphelliprdquo

                                                                                                                                                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                decisions

                                                                                                                                                                                                                Visualizing the Relationshiphellip

                                                                                                                                                                                                                Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                Scarcity

                                                                                                                                                                                                                Trade-offs (choices)

                                                                                                                                                                                                                Opportunity Costs

                                                                                                                                                                                                                ObjectivesEssential Questions

                                                                                                                                                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                the three different types of economies

                                                                                                                                                                                                                bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                Making Choices

                                                                                                                                                                                                                Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                Production Possibilities Frontier

                                                                                                                                                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                PPF Assumptions

                                                                                                                                                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                Production Possibilities Curve

                                                                                                                                                                                                                CD

                                                                                                                                                                                                                E

                                                                                                                                                                                                                OU

                                                                                                                                                                                                                TP

                                                                                                                                                                                                                UT

                                                                                                                                                                                                                OF

                                                                                                                                                                                                                CO

                                                                                                                                                                                                                NS

                                                                                                                                                                                                                UM

                                                                                                                                                                                                                ER

                                                                                                                                                                                                                GO

                                                                                                                                                                                                                OD

                                                                                                                                                                                                                S

                                                                                                                                                                                                                (un

                                                                                                                                                                                                                its

                                                                                                                                                                                                                per

                                                                                                                                                                                                                yea

                                                                                                                                                                                                                r)

                                                                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                A

                                                                                                                                                                                                                BO

                                                                                                                                                                                                                XF

                                                                                                                                                                                                                G

                                                                                                                                                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                The Choices Nations Make

                                                                                                                                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                bullProduce military goods or consumer goods

                                                                                                                                                                                                                Economic Growth

                                                                                                                                                                                                                2000 production possibilities

                                                                                                                                                                                                                1900 production possibilities

                                                                                                                                                                                                                OU

                                                                                                                                                                                                                TP

                                                                                                                                                                                                                UT

                                                                                                                                                                                                                OF

                                                                                                                                                                                                                CO

                                                                                                                                                                                                                NS

                                                                                                                                                                                                                UM

                                                                                                                                                                                                                ER

                                                                                                                                                                                                                GO

                                                                                                                                                                                                                OD

                                                                                                                                                                                                                S(u

                                                                                                                                                                                                                nits

                                                                                                                                                                                                                per

                                                                                                                                                                                                                yea

                                                                                                                                                                                                                r)

                                                                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                Production possibilities increases with more resources and technology

                                                                                                                                                                                                                The Classic Guns and Butter example

                                                                                                                                                                                                                Guns

                                                                                                                                                                                                                Butter

                                                                                                                                                                                                                10000 20000 30000 40000 50000

                                                                                                                                                                                                                1000009500085000

                                                                                                                                                                                                                70000

                                                                                                                                                                                                                5000040000

                                                                                                                                                                                                                BA

                                                                                                                                                                                                                C

                                                                                                                                                                                                                D

                                                                                                                                                                                                                E

                                                                                                                                                                                                                F

                                                                                                                                                                                                                At point A all resources are used for butter

                                                                                                                                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                At point F all resources are used for Guns

                                                                                                                                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                choices are

                                                                                                                                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                Locations on a PPF

                                                                                                                                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                Food

                                                                                                                                                                                                                Computer

                                                                                                                                                                                                                4

                                                                                                                                                                                                                3

                                                                                                                                                                                                                2

                                                                                                                                                                                                                1

                                                                                                                                                                                                                1 2 3 4

                                                                                                                                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                Unit

                                                                                                                                                                                                                Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                additional computers

                                                                                                                                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                Principle of Increasing Costs

                                                                                                                                                                                                                As a society produces more of one product the OC of producing

                                                                                                                                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                Economic Systems

                                                                                                                                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                Jigsaw activity

                                                                                                                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                bull Economic Freedom

                                                                                                                                                                                                                bull Economic Efficiency

                                                                                                                                                                                                                bull Economic Equity

                                                                                                                                                                                                                bull Economic Security

                                                                                                                                                                                                                Economic Stability

                                                                                                                                                                                                                Economic Growth

                                                                                                                                                                                                                Review of Economic Systems

                                                                                                                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                What are the most important goals of each economic system

                                                                                                                                                                                                                bullTraditionalSecurity and

                                                                                                                                                                                                                StabilitybullCommand

                                                                                                                                                                                                                Equity and Security

                                                                                                                                                                                                                bullMARKETEfficiency and

                                                                                                                                                                                                                Freedom

                                                                                                                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                Which economic system does the US use

                                                                                                                                                                                                                The American Economic System

                                                                                                                                                                                                                bullWe have a mixed market economy

                                                                                                                                                                                                                COMMAND MARKET

                                                                                                                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                Think backhellip

                                                                                                                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                2 Limited government

                                                                                                                                                                                                                3 Equal opportunity

                                                                                                                                                                                                                4 Competition

                                                                                                                                                                                                                5 Profit motive

                                                                                                                                                                                                                6 Property Rights

                                                                                                                                                                                                                7 Binding Contracts

                                                                                                                                                                                                                Understanding how all parts fit together

                                                                                                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                Shows interdependence between

                                                                                                                                                                                                                businesses and individuals

                                                                                                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                Do you remember

                                                                                                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                democracy and mixed economy

                                                                                                                                                                                                                • Foundations of Government and Economics
                                                                                                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                                                                                                • Slide 3
                                                                                                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                                                                                                • Introductory thoughts hellip
                                                                                                                                                                                                                • Slide 6
                                                                                                                                                                                                                • 2 How about to your life
                                                                                                                                                                                                                • Slide 8
                                                                                                                                                                                                                • Slide 9
                                                                                                                                                                                                                • Slide 10
                                                                                                                                                                                                                • Slide 11
                                                                                                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                                                                                                • Individualism
                                                                                                                                                                                                                • Quote activity
                                                                                                                                                                                                                • Quote breakdown
                                                                                                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                • Purpose of Government
                                                                                                                                                                                                                • Slide 20
                                                                                                                                                                                                                • 3 Theorists
                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                • Origins of American Government A customized government
                                                                                                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                                                                                                • With which theory do you agree more Why
                                                                                                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                • Groups Block 2
                                                                                                                                                                                                                • Groups Block 4
                                                                                                                                                                                                                • Balloon Game
                                                                                                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                • Balloon Game Debriefing
                                                                                                                                                                                                                • Political Theories
                                                                                                                                                                                                                • Social Contract
                                                                                                                                                                                                                • Natural Rights
                                                                                                                                                                                                                • Democracy
                                                                                                                                                                                                                • Concepts of Government
                                                                                                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                                                                                                • Warm Up 7
                                                                                                                                                                                                                • And after the Constitution
                                                                                                                                                                                                                • Activity (2)
                                                                                                                                                                                                                • Picture Activity
                                                                                                                                                                                                                • Constitutional Convention
                                                                                                                                                                                                                • Purpose of the Convention
                                                                                                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                • Your Task
                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                • States agree
                                                                                                                                                                                                                • Quote
                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                • 6 Purpose of Government
                                                                                                                                                                                                                • Structure of Constitution (2)
                                                                                                                                                                                                                • Structure of Constitution (3)
                                                                                                                                                                                                                • Principles of Constitution
                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                • Slide 60
                                                                                                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                                                                                                • Question 1
                                                                                                                                                                                                                • Question 2
                                                                                                                                                                                                                • Question 3
                                                                                                                                                                                                                • Question 4
                                                                                                                                                                                                                • Question 5
                                                                                                                                                                                                                • Question 6
                                                                                                                                                                                                                • Question 7
                                                                                                                                                                                                                • Question 8
                                                                                                                                                                                                                • Groups
                                                                                                                                                                                                                • Separation of Powers
                                                                                                                                                                                                                • Video
                                                                                                                                                                                                                • Checks and Balances
                                                                                                                                                                                                                • Slide 74
                                                                                                                                                                                                                • Checks and balances
                                                                                                                                                                                                                • Basic Principles
                                                                                                                                                                                                                • Self- Worth
                                                                                                                                                                                                                • Equality
                                                                                                                                                                                                                • Compromise
                                                                                                                                                                                                                • Individual Freedom
                                                                                                                                                                                                                • Write your ownhellip
                                                                                                                                                                                                                • Slide 82
                                                                                                                                                                                                                • TED Talk
                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                • What is Economics
                                                                                                                                                                                                                • Economics ishellip
                                                                                                                                                                                                                • Back to our assumptionshellip
                                                                                                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                • For the videohellip
                                                                                                                                                                                                                • Slide 90
                                                                                                                                                                                                                • Post Videohellip
                                                                                                                                                                                                                • Advertisement
                                                                                                                                                                                                                • Political Cartoon Analysis
                                                                                                                                                                                                                • Factors of Production
                                                                                                                                                                                                                • TASK
                                                                                                                                                                                                                • The price ofhellip
                                                                                                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                • 1 What to produce
                                                                                                                                                                                                                • 2 How to produce it
                                                                                                                                                                                                                • 3 For whom to produce it
                                                                                                                                                                                                                • Application Activity
                                                                                                                                                                                                                • EQs
                                                                                                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                                                                                                • Group Activity Budget Activity
                                                                                                                                                                                                                • Slide 105
                                                                                                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                                                                                                • How do we make goods amp services
                                                                                                                                                                                                                • Economic Interdependence
                                                                                                                                                                                                                • Slide 109
                                                                                                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                • Exampleshellip
                                                                                                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                • Opportunity Cost
                                                                                                                                                                                                                • What else influences your choices
                                                                                                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                • Production Possibilities Frontier
                                                                                                                                                                                                                • PPF Assumptions
                                                                                                                                                                                                                • Slide 121
                                                                                                                                                                                                                • Production Possibilities Curve
                                                                                                                                                                                                                • The Choices Nations Make
                                                                                                                                                                                                                • Economic Growth
                                                                                                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                                                                                                • Productivity
                                                                                                                                                                                                                • Locations on a PPF
                                                                                                                                                                                                                • Slide 128
                                                                                                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                • Economic Systems
                                                                                                                                                                                                                • Jigsaw activity
                                                                                                                                                                                                                • Slide 132
                                                                                                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                • Review of Economic Systems
                                                                                                                                                                                                                • Slide 135
                                                                                                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                                                                                                • Which economic system does the US use
                                                                                                                                                                                                                • The American Economic System
                                                                                                                                                                                                                • The US mixed economy
                                                                                                                                                                                                                • Slide 140
                                                                                                                                                                                                                • Think backhellip
                                                                                                                                                                                                                • US Economic System Characteristics
                                                                                                                                                                                                                • Slide 143
                                                                                                                                                                                                                • Understanding how all parts fit together
                                                                                                                                                                                                                • Marriage Vows
                                                                                                                                                                                                                • Do you remember
                                                                                                                                                                                                                • Slide 147

                                                                                                                                                                                                                  How do we make goods amp services

                                                                                                                                                                                                                  bull Use Factors of Production - The productive resources that go into producing goods and services

                                                                                                                                                                                                                  Production Equation

                                                                                                                                                                                                                  LAND + LABOR + CAPITAL = GOODSERVICE

                                                                                                                                                                                                                  inputs output

                                                                                                                                                                                                                  Economic Interdependence

                                                                                                                                                                                                                  bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                                  bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                                  bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                                  country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                                  Wants amp Needs gt

                                                                                                                                                                                                                  Resources

                                                                                                                                                                                                                  Because of scarcity we

                                                                                                                                                                                                                  have to make choices

                                                                                                                                                                                                                  How do we make a choice What do we give up

                                                                                                                                                                                                                  What does this remind you of from our government unit

                                                                                                                                                                                                                  Making Choices to Deal With Scarcity

                                                                                                                                                                                                                  bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                                  Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                                  Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                                  decision over another

                                                                                                                                                                                                                  ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                                  HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                                  bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                                  school today or should I sleep in

                                                                                                                                                                                                                  Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                                  In the end what helped you decide amongst your choices

                                                                                                                                                                                                                  Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                                  tradeoffs for that decision

                                                                                                                                                                                                                  Be prepared to share

                                                                                                                                                                                                                  Opportunity Cost

                                                                                                                                                                                                                  bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                                  bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                                  Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                                  we want

                                                                                                                                                                                                                  What else influences your choices

                                                                                                                                                                                                                  bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                                  bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                                  FinallyhellipWhy it Matters

                                                                                                                                                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                  better decision-maker

                                                                                                                                                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                  You always have to give something uphelliprdquo

                                                                                                                                                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                  decisions

                                                                                                                                                                                                                  Visualizing the Relationshiphellip

                                                                                                                                                                                                                  Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                  Scarcity

                                                                                                                                                                                                                  Trade-offs (choices)

                                                                                                                                                                                                                  Opportunity Costs

                                                                                                                                                                                                                  ObjectivesEssential Questions

                                                                                                                                                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                  the three different types of economies

                                                                                                                                                                                                                  bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                  How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                  Making Choices

                                                                                                                                                                                                                  Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                  Production Possibilities Frontier

                                                                                                                                                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                  PPF Assumptions

                                                                                                                                                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                  Production Possibilities Curve

                                                                                                                                                                                                                  CD

                                                                                                                                                                                                                  E

                                                                                                                                                                                                                  OU

                                                                                                                                                                                                                  TP

                                                                                                                                                                                                                  UT

                                                                                                                                                                                                                  OF

                                                                                                                                                                                                                  CO

                                                                                                                                                                                                                  NS

                                                                                                                                                                                                                  UM

                                                                                                                                                                                                                  ER

                                                                                                                                                                                                                  GO

                                                                                                                                                                                                                  OD

                                                                                                                                                                                                                  S

                                                                                                                                                                                                                  (un

                                                                                                                                                                                                                  its

                                                                                                                                                                                                                  per

                                                                                                                                                                                                                  yea

                                                                                                                                                                                                                  r)

                                                                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                  A

                                                                                                                                                                                                                  BO

                                                                                                                                                                                                                  XF

                                                                                                                                                                                                                  G

                                                                                                                                                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                  The Choices Nations Make

                                                                                                                                                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                  bullProduce military goods or consumer goods

                                                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                                                  2000 production possibilities

                                                                                                                                                                                                                  1900 production possibilities

                                                                                                                                                                                                                  OU

                                                                                                                                                                                                                  TP

                                                                                                                                                                                                                  UT

                                                                                                                                                                                                                  OF

                                                                                                                                                                                                                  CO

                                                                                                                                                                                                                  NS

                                                                                                                                                                                                                  UM

                                                                                                                                                                                                                  ER

                                                                                                                                                                                                                  GO

                                                                                                                                                                                                                  OD

                                                                                                                                                                                                                  S(u

                                                                                                                                                                                                                  nits

                                                                                                                                                                                                                  per

                                                                                                                                                                                                                  yea

                                                                                                                                                                                                                  r)

                                                                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                  Production possibilities increases with more resources and technology

                                                                                                                                                                                                                  The Classic Guns and Butter example

                                                                                                                                                                                                                  Guns

                                                                                                                                                                                                                  Butter

                                                                                                                                                                                                                  10000 20000 30000 40000 50000

                                                                                                                                                                                                                  1000009500085000

                                                                                                                                                                                                                  70000

                                                                                                                                                                                                                  5000040000

                                                                                                                                                                                                                  BA

                                                                                                                                                                                                                  C

                                                                                                                                                                                                                  D

                                                                                                                                                                                                                  E

                                                                                                                                                                                                                  F

                                                                                                                                                                                                                  At point A all resources are used for butter

                                                                                                                                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                  At point F all resources are used for Guns

                                                                                                                                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                  choices are

                                                                                                                                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                  Locations on a PPF

                                                                                                                                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                  Food

                                                                                                                                                                                                                  Computer

                                                                                                                                                                                                                  4

                                                                                                                                                                                                                  3

                                                                                                                                                                                                                  2

                                                                                                                                                                                                                  1

                                                                                                                                                                                                                  1 2 3 4

                                                                                                                                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                  Unit

                                                                                                                                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                  additional computers

                                                                                                                                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                  Principle of Increasing Costs

                                                                                                                                                                                                                  As a society produces more of one product the OC of producing

                                                                                                                                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                  Economic Systems

                                                                                                                                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                  Jigsaw activity

                                                                                                                                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                  bull Economic Freedom

                                                                                                                                                                                                                  bull Economic Efficiency

                                                                                                                                                                                                                  bull Economic Equity

                                                                                                                                                                                                                  bull Economic Security

                                                                                                                                                                                                                  Economic Stability

                                                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                                                  Review of Economic Systems

                                                                                                                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                  What are the most important goals of each economic system

                                                                                                                                                                                                                  bullTraditionalSecurity and

                                                                                                                                                                                                                  StabilitybullCommand

                                                                                                                                                                                                                  Equity and Security

                                                                                                                                                                                                                  bullMARKETEfficiency and

                                                                                                                                                                                                                  Freedom

                                                                                                                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                  Which economic system does the US use

                                                                                                                                                                                                                  The American Economic System

                                                                                                                                                                                                                  bullWe have a mixed market economy

                                                                                                                                                                                                                  COMMAND MARKET

                                                                                                                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                  Think backhellip

                                                                                                                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                  2 Limited government

                                                                                                                                                                                                                  3 Equal opportunity

                                                                                                                                                                                                                  4 Competition

                                                                                                                                                                                                                  5 Profit motive

                                                                                                                                                                                                                  6 Property Rights

                                                                                                                                                                                                                  7 Binding Contracts

                                                                                                                                                                                                                  Understanding how all parts fit together

                                                                                                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                  Shows interdependence between

                                                                                                                                                                                                                  businesses and individuals

                                                                                                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                  Do you remember

                                                                                                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                  democracy and mixed economy

                                                                                                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                                                                                                  • Slide 3
                                                                                                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                                                                                                  • Slide 6
                                                                                                                                                                                                                  • 2 How about to your life
                                                                                                                                                                                                                  • Slide 8
                                                                                                                                                                                                                  • Slide 9
                                                                                                                                                                                                                  • Slide 10
                                                                                                                                                                                                                  • Slide 11
                                                                                                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                                                                                                  • Individualism
                                                                                                                                                                                                                  • Quote activity
                                                                                                                                                                                                                  • Quote breakdown
                                                                                                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                  • Purpose of Government
                                                                                                                                                                                                                  • Slide 20
                                                                                                                                                                                                                  • 3 Theorists
                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                  • Groups Block 2
                                                                                                                                                                                                                  • Groups Block 4
                                                                                                                                                                                                                  • Balloon Game
                                                                                                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                                                                                                  • Political Theories
                                                                                                                                                                                                                  • Social Contract
                                                                                                                                                                                                                  • Natural Rights
                                                                                                                                                                                                                  • Democracy
                                                                                                                                                                                                                  • Concepts of Government
                                                                                                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                                                                                                  • Warm Up 7
                                                                                                                                                                                                                  • And after the Constitution
                                                                                                                                                                                                                  • Activity (2)
                                                                                                                                                                                                                  • Picture Activity
                                                                                                                                                                                                                  • Constitutional Convention
                                                                                                                                                                                                                  • Purpose of the Convention
                                                                                                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                  • Your Task
                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                  • States agree
                                                                                                                                                                                                                  • Quote
                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                  • 6 Purpose of Government
                                                                                                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                                                                                                  • Principles of Constitution
                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                  • Slide 60
                                                                                                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                                                                                                  • Question 1
                                                                                                                                                                                                                  • Question 2
                                                                                                                                                                                                                  • Question 3
                                                                                                                                                                                                                  • Question 4
                                                                                                                                                                                                                  • Question 5
                                                                                                                                                                                                                  • Question 6
                                                                                                                                                                                                                  • Question 7
                                                                                                                                                                                                                  • Question 8
                                                                                                                                                                                                                  • Groups
                                                                                                                                                                                                                  • Separation of Powers
                                                                                                                                                                                                                  • Video
                                                                                                                                                                                                                  • Checks and Balances
                                                                                                                                                                                                                  • Slide 74
                                                                                                                                                                                                                  • Checks and balances
                                                                                                                                                                                                                  • Basic Principles
                                                                                                                                                                                                                  • Self- Worth
                                                                                                                                                                                                                  • Equality
                                                                                                                                                                                                                  • Compromise
                                                                                                                                                                                                                  • Individual Freedom
                                                                                                                                                                                                                  • Write your ownhellip
                                                                                                                                                                                                                  • Slide 82
                                                                                                                                                                                                                  • TED Talk
                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                  • What is Economics
                                                                                                                                                                                                                  • Economics ishellip
                                                                                                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                  • For the videohellip
                                                                                                                                                                                                                  • Slide 90
                                                                                                                                                                                                                  • Post Videohellip
                                                                                                                                                                                                                  • Advertisement
                                                                                                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                                                                                                  • Factors of Production
                                                                                                                                                                                                                  • TASK
                                                                                                                                                                                                                  • The price ofhellip
                                                                                                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                  • 1 What to produce
                                                                                                                                                                                                                  • 2 How to produce it
                                                                                                                                                                                                                  • 3 For whom to produce it
                                                                                                                                                                                                                  • Application Activity
                                                                                                                                                                                                                  • EQs
                                                                                                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                                                                                                  • Slide 105
                                                                                                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                                                                                                  • How do we make goods amp services
                                                                                                                                                                                                                  • Economic Interdependence
                                                                                                                                                                                                                  • Slide 109
                                                                                                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                  • Exampleshellip
                                                                                                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                  • Opportunity Cost
                                                                                                                                                                                                                  • What else influences your choices
                                                                                                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                                                                                                  • PPF Assumptions
                                                                                                                                                                                                                  • Slide 121
                                                                                                                                                                                                                  • Production Possibilities Curve
                                                                                                                                                                                                                  • The Choices Nations Make
                                                                                                                                                                                                                  • Economic Growth
                                                                                                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                                                                                                  • Productivity
                                                                                                                                                                                                                  • Locations on a PPF
                                                                                                                                                                                                                  • Slide 128
                                                                                                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                  • Economic Systems
                                                                                                                                                                                                                  • Jigsaw activity
                                                                                                                                                                                                                  • Slide 132
                                                                                                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                  • Review of Economic Systems
                                                                                                                                                                                                                  • Slide 135
                                                                                                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                                                                                                  • Which economic system does the US use
                                                                                                                                                                                                                  • The American Economic System
                                                                                                                                                                                                                  • The US mixed economy
                                                                                                                                                                                                                  • Slide 140
                                                                                                                                                                                                                  • Think backhellip
                                                                                                                                                                                                                  • US Economic System Characteristics
                                                                                                                                                                                                                  • Slide 143
                                                                                                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                                                                                                  • Marriage Vows
                                                                                                                                                                                                                  • Do you remember
                                                                                                                                                                                                                  • Slide 147

                                                                                                                                                                                                                    Economic Interdependence

                                                                                                                                                                                                                    bullWhat does lsquointerdependencersquo mean

                                                                                                                                                                                                                    bullIs our world becoming economic interdependent or independent

                                                                                                                                                                                                                    bullEconomic Interdependence the actions of one part of the

                                                                                                                                                                                                                    country (world) has an impact on what happens elsewhere

                                                                                                                                                                                                                    Wants amp Needs gt

                                                                                                                                                                                                                    Resources

                                                                                                                                                                                                                    Because of scarcity we

                                                                                                                                                                                                                    have to make choices

                                                                                                                                                                                                                    How do we make a choice What do we give up

                                                                                                                                                                                                                    What does this remind you of from our government unit

                                                                                                                                                                                                                    Making Choices to Deal With Scarcity

                                                                                                                                                                                                                    bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                                    Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                                    Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                                    decision over another

                                                                                                                                                                                                                    ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                                    HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                                    bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                                    school today or should I sleep in

                                                                                                                                                                                                                    Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                                    In the end what helped you decide amongst your choices

                                                                                                                                                                                                                    Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                                    tradeoffs for that decision

                                                                                                                                                                                                                    Be prepared to share

                                                                                                                                                                                                                    Opportunity Cost

                                                                                                                                                                                                                    bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                                    bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                                    Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                                    we want

                                                                                                                                                                                                                    What else influences your choices

                                                                                                                                                                                                                    bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                                    bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                                    FinallyhellipWhy it Matters

                                                                                                                                                                                                                    Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                    better decision-maker

                                                                                                                                                                                                                    Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                    You always have to give something uphelliprdquo

                                                                                                                                                                                                                    ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                    decisions

                                                                                                                                                                                                                    Visualizing the Relationshiphellip

                                                                                                                                                                                                                    Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                    Scarcity

                                                                                                                                                                                                                    Trade-offs (choices)

                                                                                                                                                                                                                    Opportunity Costs

                                                                                                                                                                                                                    ObjectivesEssential Questions

                                                                                                                                                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                    the three different types of economies

                                                                                                                                                                                                                    bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                    How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                    Making Choices

                                                                                                                                                                                                                    Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                    Production Possibilities Frontier

                                                                                                                                                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                    PPF Assumptions

                                                                                                                                                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                    Production Possibilities Curve

                                                                                                                                                                                                                    CD

                                                                                                                                                                                                                    E

                                                                                                                                                                                                                    OU

                                                                                                                                                                                                                    TP

                                                                                                                                                                                                                    UT

                                                                                                                                                                                                                    OF

                                                                                                                                                                                                                    CO

                                                                                                                                                                                                                    NS

                                                                                                                                                                                                                    UM

                                                                                                                                                                                                                    ER

                                                                                                                                                                                                                    GO

                                                                                                                                                                                                                    OD

                                                                                                                                                                                                                    S

                                                                                                                                                                                                                    (un

                                                                                                                                                                                                                    its

                                                                                                                                                                                                                    per

                                                                                                                                                                                                                    yea

                                                                                                                                                                                                                    r)

                                                                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                    A

                                                                                                                                                                                                                    BO

                                                                                                                                                                                                                    XF

                                                                                                                                                                                                                    G

                                                                                                                                                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                    The Choices Nations Make

                                                                                                                                                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                    bullProduce military goods or consumer goods

                                                                                                                                                                                                                    Economic Growth

                                                                                                                                                                                                                    2000 production possibilities

                                                                                                                                                                                                                    1900 production possibilities

                                                                                                                                                                                                                    OU

                                                                                                                                                                                                                    TP

                                                                                                                                                                                                                    UT

                                                                                                                                                                                                                    OF

                                                                                                                                                                                                                    CO

                                                                                                                                                                                                                    NS

                                                                                                                                                                                                                    UM

                                                                                                                                                                                                                    ER

                                                                                                                                                                                                                    GO

                                                                                                                                                                                                                    OD

                                                                                                                                                                                                                    S(u

                                                                                                                                                                                                                    nits

                                                                                                                                                                                                                    per

                                                                                                                                                                                                                    yea

                                                                                                                                                                                                                    r)

                                                                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                    Production possibilities increases with more resources and technology

                                                                                                                                                                                                                    The Classic Guns and Butter example

                                                                                                                                                                                                                    Guns

                                                                                                                                                                                                                    Butter

                                                                                                                                                                                                                    10000 20000 30000 40000 50000

                                                                                                                                                                                                                    1000009500085000

                                                                                                                                                                                                                    70000

                                                                                                                                                                                                                    5000040000

                                                                                                                                                                                                                    BA

                                                                                                                                                                                                                    C

                                                                                                                                                                                                                    D

                                                                                                                                                                                                                    E

                                                                                                                                                                                                                    F

                                                                                                                                                                                                                    At point A all resources are used for butter

                                                                                                                                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                    At point F all resources are used for Guns

                                                                                                                                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                    choices are

                                                                                                                                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                    Locations on a PPF

                                                                                                                                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                    Food

                                                                                                                                                                                                                    Computer

                                                                                                                                                                                                                    4

                                                                                                                                                                                                                    3

                                                                                                                                                                                                                    2

                                                                                                                                                                                                                    1

                                                                                                                                                                                                                    1 2 3 4

                                                                                                                                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                    Unit

                                                                                                                                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                    additional computers

                                                                                                                                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                    Principle of Increasing Costs

                                                                                                                                                                                                                    As a society produces more of one product the OC of producing

                                                                                                                                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                    Economic Systems

                                                                                                                                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                    Jigsaw activity

                                                                                                                                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                    bull Economic Freedom

                                                                                                                                                                                                                    bull Economic Efficiency

                                                                                                                                                                                                                    bull Economic Equity

                                                                                                                                                                                                                    bull Economic Security

                                                                                                                                                                                                                    Economic Stability

                                                                                                                                                                                                                    Economic Growth

                                                                                                                                                                                                                    Review of Economic Systems

                                                                                                                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                    What are the most important goals of each economic system

                                                                                                                                                                                                                    bullTraditionalSecurity and

                                                                                                                                                                                                                    StabilitybullCommand

                                                                                                                                                                                                                    Equity and Security

                                                                                                                                                                                                                    bullMARKETEfficiency and

                                                                                                                                                                                                                    Freedom

                                                                                                                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                    Which economic system does the US use

                                                                                                                                                                                                                    The American Economic System

                                                                                                                                                                                                                    bullWe have a mixed market economy

                                                                                                                                                                                                                    COMMAND MARKET

                                                                                                                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                    Think backhellip

                                                                                                                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                    2 Limited government

                                                                                                                                                                                                                    3 Equal opportunity

                                                                                                                                                                                                                    4 Competition

                                                                                                                                                                                                                    5 Profit motive

                                                                                                                                                                                                                    6 Property Rights

                                                                                                                                                                                                                    7 Binding Contracts

                                                                                                                                                                                                                    Understanding how all parts fit together

                                                                                                                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                    Shows interdependence between

                                                                                                                                                                                                                    businesses and individuals

                                                                                                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                    Do you remember

                                                                                                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                    democracy and mixed economy

                                                                                                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                                                                                                    • Slide 3
                                                                                                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                                                                                                    • Slide 6
                                                                                                                                                                                                                    • 2 How about to your life
                                                                                                                                                                                                                    • Slide 8
                                                                                                                                                                                                                    • Slide 9
                                                                                                                                                                                                                    • Slide 10
                                                                                                                                                                                                                    • Slide 11
                                                                                                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                                                                                                    • Individualism
                                                                                                                                                                                                                    • Quote activity
                                                                                                                                                                                                                    • Quote breakdown
                                                                                                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                    • Purpose of Government
                                                                                                                                                                                                                    • Slide 20
                                                                                                                                                                                                                    • 3 Theorists
                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                    • Groups Block 2
                                                                                                                                                                                                                    • Groups Block 4
                                                                                                                                                                                                                    • Balloon Game
                                                                                                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                                                                                                    • Political Theories
                                                                                                                                                                                                                    • Social Contract
                                                                                                                                                                                                                    • Natural Rights
                                                                                                                                                                                                                    • Democracy
                                                                                                                                                                                                                    • Concepts of Government
                                                                                                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                                                                                                    • Warm Up 7
                                                                                                                                                                                                                    • And after the Constitution
                                                                                                                                                                                                                    • Activity (2)
                                                                                                                                                                                                                    • Picture Activity
                                                                                                                                                                                                                    • Constitutional Convention
                                                                                                                                                                                                                    • Purpose of the Convention
                                                                                                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                    • Your Task
                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                    • States agree
                                                                                                                                                                                                                    • Quote
                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                    • 6 Purpose of Government
                                                                                                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                                                                                                    • Principles of Constitution
                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                    • Slide 60
                                                                                                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                                                                                                    • Question 1
                                                                                                                                                                                                                    • Question 2
                                                                                                                                                                                                                    • Question 3
                                                                                                                                                                                                                    • Question 4
                                                                                                                                                                                                                    • Question 5
                                                                                                                                                                                                                    • Question 6
                                                                                                                                                                                                                    • Question 7
                                                                                                                                                                                                                    • Question 8
                                                                                                                                                                                                                    • Groups
                                                                                                                                                                                                                    • Separation of Powers
                                                                                                                                                                                                                    • Video
                                                                                                                                                                                                                    • Checks and Balances
                                                                                                                                                                                                                    • Slide 74
                                                                                                                                                                                                                    • Checks and balances
                                                                                                                                                                                                                    • Basic Principles
                                                                                                                                                                                                                    • Self- Worth
                                                                                                                                                                                                                    • Equality
                                                                                                                                                                                                                    • Compromise
                                                                                                                                                                                                                    • Individual Freedom
                                                                                                                                                                                                                    • Write your ownhellip
                                                                                                                                                                                                                    • Slide 82
                                                                                                                                                                                                                    • TED Talk
                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                    • What is Economics
                                                                                                                                                                                                                    • Economics ishellip
                                                                                                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                    • For the videohellip
                                                                                                                                                                                                                    • Slide 90
                                                                                                                                                                                                                    • Post Videohellip
                                                                                                                                                                                                                    • Advertisement
                                                                                                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                                                                                                    • Factors of Production
                                                                                                                                                                                                                    • TASK
                                                                                                                                                                                                                    • The price ofhellip
                                                                                                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                    • 1 What to produce
                                                                                                                                                                                                                    • 2 How to produce it
                                                                                                                                                                                                                    • 3 For whom to produce it
                                                                                                                                                                                                                    • Application Activity
                                                                                                                                                                                                                    • EQs
                                                                                                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                                                                                                    • Slide 105
                                                                                                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                                                                                                    • How do we make goods amp services
                                                                                                                                                                                                                    • Economic Interdependence
                                                                                                                                                                                                                    • Slide 109
                                                                                                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                    • Exampleshellip
                                                                                                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                    • Opportunity Cost
                                                                                                                                                                                                                    • What else influences your choices
                                                                                                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                                                                                                    • PPF Assumptions
                                                                                                                                                                                                                    • Slide 121
                                                                                                                                                                                                                    • Production Possibilities Curve
                                                                                                                                                                                                                    • The Choices Nations Make
                                                                                                                                                                                                                    • Economic Growth
                                                                                                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                                                                                                    • Productivity
                                                                                                                                                                                                                    • Locations on a PPF
                                                                                                                                                                                                                    • Slide 128
                                                                                                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                    • Economic Systems
                                                                                                                                                                                                                    • Jigsaw activity
                                                                                                                                                                                                                    • Slide 132
                                                                                                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                    • Review of Economic Systems
                                                                                                                                                                                                                    • Slide 135
                                                                                                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                                                                                                    • Which economic system does the US use
                                                                                                                                                                                                                    • The American Economic System
                                                                                                                                                                                                                    • The US mixed economy
                                                                                                                                                                                                                    • Slide 140
                                                                                                                                                                                                                    • Think backhellip
                                                                                                                                                                                                                    • US Economic System Characteristics
                                                                                                                                                                                                                    • Slide 143
                                                                                                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                                                                                                    • Marriage Vows
                                                                                                                                                                                                                    • Do you remember
                                                                                                                                                                                                                    • Slide 147

                                                                                                                                                                                                                      Wants amp Needs gt

                                                                                                                                                                                                                      Resources

                                                                                                                                                                                                                      Because of scarcity we

                                                                                                                                                                                                                      have to make choices

                                                                                                                                                                                                                      How do we make a choice What do we give up

                                                                                                                                                                                                                      What does this remind you of from our government unit

                                                                                                                                                                                                                      Making Choices to Deal With Scarcity

                                                                                                                                                                                                                      bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                                      Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                                      Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                                      decision over another

                                                                                                                                                                                                                      ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                                      HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                                      bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                                      school today or should I sleep in

                                                                                                                                                                                                                      Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                                      In the end what helped you decide amongst your choices

                                                                                                                                                                                                                      Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                                      tradeoffs for that decision

                                                                                                                                                                                                                      Be prepared to share

                                                                                                                                                                                                                      Opportunity Cost

                                                                                                                                                                                                                      bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                                      bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                                      Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                                      we want

                                                                                                                                                                                                                      What else influences your choices

                                                                                                                                                                                                                      bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                                      bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                                      FinallyhellipWhy it Matters

                                                                                                                                                                                                                      Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                      better decision-maker

                                                                                                                                                                                                                      Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                      You always have to give something uphelliprdquo

                                                                                                                                                                                                                      ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                      decisions

                                                                                                                                                                                                                      Visualizing the Relationshiphellip

                                                                                                                                                                                                                      Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                      Scarcity

                                                                                                                                                                                                                      Trade-offs (choices)

                                                                                                                                                                                                                      Opportunity Costs

                                                                                                                                                                                                                      ObjectivesEssential Questions

                                                                                                                                                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                      the three different types of economies

                                                                                                                                                                                                                      bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                      How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                      Making Choices

                                                                                                                                                                                                                      Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                      Production Possibilities Frontier

                                                                                                                                                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                      PPF Assumptions

                                                                                                                                                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                      Production Possibilities Curve

                                                                                                                                                                                                                      CD

                                                                                                                                                                                                                      E

                                                                                                                                                                                                                      OU

                                                                                                                                                                                                                      TP

                                                                                                                                                                                                                      UT

                                                                                                                                                                                                                      OF

                                                                                                                                                                                                                      CO

                                                                                                                                                                                                                      NS

                                                                                                                                                                                                                      UM

                                                                                                                                                                                                                      ER

                                                                                                                                                                                                                      GO

                                                                                                                                                                                                                      OD

                                                                                                                                                                                                                      S

                                                                                                                                                                                                                      (un

                                                                                                                                                                                                                      its

                                                                                                                                                                                                                      per

                                                                                                                                                                                                                      yea

                                                                                                                                                                                                                      r)

                                                                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                      A

                                                                                                                                                                                                                      BO

                                                                                                                                                                                                                      XF

                                                                                                                                                                                                                      G

                                                                                                                                                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                      The Choices Nations Make

                                                                                                                                                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                      bullProduce military goods or consumer goods

                                                                                                                                                                                                                      Economic Growth

                                                                                                                                                                                                                      2000 production possibilities

                                                                                                                                                                                                                      1900 production possibilities

                                                                                                                                                                                                                      OU

                                                                                                                                                                                                                      TP

                                                                                                                                                                                                                      UT

                                                                                                                                                                                                                      OF

                                                                                                                                                                                                                      CO

                                                                                                                                                                                                                      NS

                                                                                                                                                                                                                      UM

                                                                                                                                                                                                                      ER

                                                                                                                                                                                                                      GO

                                                                                                                                                                                                                      OD

                                                                                                                                                                                                                      S(u

                                                                                                                                                                                                                      nits

                                                                                                                                                                                                                      per

                                                                                                                                                                                                                      yea

                                                                                                                                                                                                                      r)

                                                                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                      Production possibilities increases with more resources and technology

                                                                                                                                                                                                                      The Classic Guns and Butter example

                                                                                                                                                                                                                      Guns

                                                                                                                                                                                                                      Butter

                                                                                                                                                                                                                      10000 20000 30000 40000 50000

                                                                                                                                                                                                                      1000009500085000

                                                                                                                                                                                                                      70000

                                                                                                                                                                                                                      5000040000

                                                                                                                                                                                                                      BA

                                                                                                                                                                                                                      C

                                                                                                                                                                                                                      D

                                                                                                                                                                                                                      E

                                                                                                                                                                                                                      F

                                                                                                                                                                                                                      At point A all resources are used for butter

                                                                                                                                                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                      At point F all resources are used for Guns

                                                                                                                                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                      choices are

                                                                                                                                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                      Locations on a PPF

                                                                                                                                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                      Food

                                                                                                                                                                                                                      Computer

                                                                                                                                                                                                                      4

                                                                                                                                                                                                                      3

                                                                                                                                                                                                                      2

                                                                                                                                                                                                                      1

                                                                                                                                                                                                                      1 2 3 4

                                                                                                                                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                      Unit

                                                                                                                                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                      additional computers

                                                                                                                                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                      Principle of Increasing Costs

                                                                                                                                                                                                                      As a society produces more of one product the OC of producing

                                                                                                                                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                      Economic Systems

                                                                                                                                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                      Jigsaw activity

                                                                                                                                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                      bull Economic Freedom

                                                                                                                                                                                                                      bull Economic Efficiency

                                                                                                                                                                                                                      bull Economic Equity

                                                                                                                                                                                                                      bull Economic Security

                                                                                                                                                                                                                      Economic Stability

                                                                                                                                                                                                                      Economic Growth

                                                                                                                                                                                                                      Review of Economic Systems

                                                                                                                                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                      What are the most important goals of each economic system

                                                                                                                                                                                                                      bullTraditionalSecurity and

                                                                                                                                                                                                                      StabilitybullCommand

                                                                                                                                                                                                                      Equity and Security

                                                                                                                                                                                                                      bullMARKETEfficiency and

                                                                                                                                                                                                                      Freedom

                                                                                                                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                      Which economic system does the US use

                                                                                                                                                                                                                      The American Economic System

                                                                                                                                                                                                                      bullWe have a mixed market economy

                                                                                                                                                                                                                      COMMAND MARKET

                                                                                                                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                      Think backhellip

                                                                                                                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                      2 Limited government

                                                                                                                                                                                                                      3 Equal opportunity

                                                                                                                                                                                                                      4 Competition

                                                                                                                                                                                                                      5 Profit motive

                                                                                                                                                                                                                      6 Property Rights

                                                                                                                                                                                                                      7 Binding Contracts

                                                                                                                                                                                                                      Understanding how all parts fit together

                                                                                                                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                      Shows interdependence between

                                                                                                                                                                                                                      businesses and individuals

                                                                                                                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                      Do you remember

                                                                                                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                      democracy and mixed economy

                                                                                                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                                                                                                      • Slide 3
                                                                                                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                                                                                                      • Slide 6
                                                                                                                                                                                                                      • 2 How about to your life
                                                                                                                                                                                                                      • Slide 8
                                                                                                                                                                                                                      • Slide 9
                                                                                                                                                                                                                      • Slide 10
                                                                                                                                                                                                                      • Slide 11
                                                                                                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                                                                                                      • Individualism
                                                                                                                                                                                                                      • Quote activity
                                                                                                                                                                                                                      • Quote breakdown
                                                                                                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                      • Purpose of Government
                                                                                                                                                                                                                      • Slide 20
                                                                                                                                                                                                                      • 3 Theorists
                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                      • Groups Block 2
                                                                                                                                                                                                                      • Groups Block 4
                                                                                                                                                                                                                      • Balloon Game
                                                                                                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                                                                                                      • Political Theories
                                                                                                                                                                                                                      • Social Contract
                                                                                                                                                                                                                      • Natural Rights
                                                                                                                                                                                                                      • Democracy
                                                                                                                                                                                                                      • Concepts of Government
                                                                                                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                                                                                                      • Warm Up 7
                                                                                                                                                                                                                      • And after the Constitution
                                                                                                                                                                                                                      • Activity (2)
                                                                                                                                                                                                                      • Picture Activity
                                                                                                                                                                                                                      • Constitutional Convention
                                                                                                                                                                                                                      • Purpose of the Convention
                                                                                                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                      • Your Task
                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                      • States agree
                                                                                                                                                                                                                      • Quote
                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                      • 6 Purpose of Government
                                                                                                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                                                                                                      • Principles of Constitution
                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                      • Slide 60
                                                                                                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                                                                                                      • Question 1
                                                                                                                                                                                                                      • Question 2
                                                                                                                                                                                                                      • Question 3
                                                                                                                                                                                                                      • Question 4
                                                                                                                                                                                                                      • Question 5
                                                                                                                                                                                                                      • Question 6
                                                                                                                                                                                                                      • Question 7
                                                                                                                                                                                                                      • Question 8
                                                                                                                                                                                                                      • Groups
                                                                                                                                                                                                                      • Separation of Powers
                                                                                                                                                                                                                      • Video
                                                                                                                                                                                                                      • Checks and Balances
                                                                                                                                                                                                                      • Slide 74
                                                                                                                                                                                                                      • Checks and balances
                                                                                                                                                                                                                      • Basic Principles
                                                                                                                                                                                                                      • Self- Worth
                                                                                                                                                                                                                      • Equality
                                                                                                                                                                                                                      • Compromise
                                                                                                                                                                                                                      • Individual Freedom
                                                                                                                                                                                                                      • Write your ownhellip
                                                                                                                                                                                                                      • Slide 82
                                                                                                                                                                                                                      • TED Talk
                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                      • What is Economics
                                                                                                                                                                                                                      • Economics ishellip
                                                                                                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                      • For the videohellip
                                                                                                                                                                                                                      • Slide 90
                                                                                                                                                                                                                      • Post Videohellip
                                                                                                                                                                                                                      • Advertisement
                                                                                                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                                                                                                      • Factors of Production
                                                                                                                                                                                                                      • TASK
                                                                                                                                                                                                                      • The price ofhellip
                                                                                                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                      • 1 What to produce
                                                                                                                                                                                                                      • 2 How to produce it
                                                                                                                                                                                                                      • 3 For whom to produce it
                                                                                                                                                                                                                      • Application Activity
                                                                                                                                                                                                                      • EQs
                                                                                                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                                                                                                      • Slide 105
                                                                                                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                                                                                                      • How do we make goods amp services
                                                                                                                                                                                                                      • Economic Interdependence
                                                                                                                                                                                                                      • Slide 109
                                                                                                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                      • Exampleshellip
                                                                                                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                      • Opportunity Cost
                                                                                                                                                                                                                      • What else influences your choices
                                                                                                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                                                                                                      • PPF Assumptions
                                                                                                                                                                                                                      • Slide 121
                                                                                                                                                                                                                      • Production Possibilities Curve
                                                                                                                                                                                                                      • The Choices Nations Make
                                                                                                                                                                                                                      • Economic Growth
                                                                                                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                                                                                                      • Productivity
                                                                                                                                                                                                                      • Locations on a PPF
                                                                                                                                                                                                                      • Slide 128
                                                                                                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                      • Economic Systems
                                                                                                                                                                                                                      • Jigsaw activity
                                                                                                                                                                                                                      • Slide 132
                                                                                                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                      • Review of Economic Systems
                                                                                                                                                                                                                      • Slide 135
                                                                                                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                                                                                                      • Which economic system does the US use
                                                                                                                                                                                                                      • The American Economic System
                                                                                                                                                                                                                      • The US mixed economy
                                                                                                                                                                                                                      • Slide 140
                                                                                                                                                                                                                      • Think backhellip
                                                                                                                                                                                                                      • US Economic System Characteristics
                                                                                                                                                                                                                      • Slide 143
                                                                                                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                                                                                                      • Marriage Vows
                                                                                                                                                                                                                      • Do you remember
                                                                                                                                                                                                                      • Slide 147

                                                                                                                                                                                                                        Making Choices to Deal With Scarcity

                                                                                                                                                                                                                        bullPeople seek to maximize their utility when making decisions This requires them to consider tradeoffs

                                                                                                                                                                                                                        Utility ndash the satisfaction or benefit a person receives from consuming a good or service

                                                                                                                                                                                                                        Tradeoffs ndash the alternate choices people have when making a decision also the benefitsadvantages of making on

                                                                                                                                                                                                                        decision over another

                                                                                                                                                                                                                        ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                                        HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                                        bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                                        school today or should I sleep in

                                                                                                                                                                                                                        Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                                        In the end what helped you decide amongst your choices

                                                                                                                                                                                                                        Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                                        tradeoffs for that decision

                                                                                                                                                                                                                        Be prepared to share

                                                                                                                                                                                                                        Opportunity Cost

                                                                                                                                                                                                                        bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                                        bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                                        Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                                        we want

                                                                                                                                                                                                                        What else influences your choices

                                                                                                                                                                                                                        bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                                        bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                                        FinallyhellipWhy it Matters

                                                                                                                                                                                                                        Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                        better decision-maker

                                                                                                                                                                                                                        Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                        You always have to give something uphelliprdquo

                                                                                                                                                                                                                        ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                        decisions

                                                                                                                                                                                                                        Visualizing the Relationshiphellip

                                                                                                                                                                                                                        Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                        Scarcity

                                                                                                                                                                                                                        Trade-offs (choices)

                                                                                                                                                                                                                        Opportunity Costs

                                                                                                                                                                                                                        ObjectivesEssential Questions

                                                                                                                                                                                                                        bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                        the three different types of economies

                                                                                                                                                                                                                        bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                        How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                        Making Choices

                                                                                                                                                                                                                        Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                        Production Possibilities Frontier

                                                                                                                                                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                        PPF Assumptions

                                                                                                                                                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                        Production Possibilities Curve

                                                                                                                                                                                                                        CD

                                                                                                                                                                                                                        E

                                                                                                                                                                                                                        OU

                                                                                                                                                                                                                        TP

                                                                                                                                                                                                                        UT

                                                                                                                                                                                                                        OF

                                                                                                                                                                                                                        CO

                                                                                                                                                                                                                        NS

                                                                                                                                                                                                                        UM

                                                                                                                                                                                                                        ER

                                                                                                                                                                                                                        GO

                                                                                                                                                                                                                        OD

                                                                                                                                                                                                                        S

                                                                                                                                                                                                                        (un

                                                                                                                                                                                                                        its

                                                                                                                                                                                                                        per

                                                                                                                                                                                                                        yea

                                                                                                                                                                                                                        r)

                                                                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                        A

                                                                                                                                                                                                                        BO

                                                                                                                                                                                                                        XF

                                                                                                                                                                                                                        G

                                                                                                                                                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                        The Choices Nations Make

                                                                                                                                                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                        bullProduce military goods or consumer goods

                                                                                                                                                                                                                        Economic Growth

                                                                                                                                                                                                                        2000 production possibilities

                                                                                                                                                                                                                        1900 production possibilities

                                                                                                                                                                                                                        OU

                                                                                                                                                                                                                        TP

                                                                                                                                                                                                                        UT

                                                                                                                                                                                                                        OF

                                                                                                                                                                                                                        CO

                                                                                                                                                                                                                        NS

                                                                                                                                                                                                                        UM

                                                                                                                                                                                                                        ER

                                                                                                                                                                                                                        GO

                                                                                                                                                                                                                        OD

                                                                                                                                                                                                                        S(u

                                                                                                                                                                                                                        nits

                                                                                                                                                                                                                        per

                                                                                                                                                                                                                        yea

                                                                                                                                                                                                                        r)

                                                                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                        Production possibilities increases with more resources and technology

                                                                                                                                                                                                                        The Classic Guns and Butter example

                                                                                                                                                                                                                        Guns

                                                                                                                                                                                                                        Butter

                                                                                                                                                                                                                        10000 20000 30000 40000 50000

                                                                                                                                                                                                                        1000009500085000

                                                                                                                                                                                                                        70000

                                                                                                                                                                                                                        5000040000

                                                                                                                                                                                                                        BA

                                                                                                                                                                                                                        C

                                                                                                                                                                                                                        D

                                                                                                                                                                                                                        E

                                                                                                                                                                                                                        F

                                                                                                                                                                                                                        At point A all resources are used for butter

                                                                                                                                                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                        At point F all resources are used for Guns

                                                                                                                                                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                        choices are

                                                                                                                                                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                        Locations on a PPF

                                                                                                                                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                        Food

                                                                                                                                                                                                                        Computer

                                                                                                                                                                                                                        4

                                                                                                                                                                                                                        3

                                                                                                                                                                                                                        2

                                                                                                                                                                                                                        1

                                                                                                                                                                                                                        1 2 3 4

                                                                                                                                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                        Unit

                                                                                                                                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                        additional computers

                                                                                                                                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                        Principle of Increasing Costs

                                                                                                                                                                                                                        As a society produces more of one product the OC of producing

                                                                                                                                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                        Economic Systems

                                                                                                                                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                        Jigsaw activity

                                                                                                                                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                        bull Economic Freedom

                                                                                                                                                                                                                        bull Economic Efficiency

                                                                                                                                                                                                                        bull Economic Equity

                                                                                                                                                                                                                        bull Economic Security

                                                                                                                                                                                                                        Economic Stability

                                                                                                                                                                                                                        Economic Growth

                                                                                                                                                                                                                        Review of Economic Systems

                                                                                                                                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                        What are the most important goals of each economic system

                                                                                                                                                                                                                        bullTraditionalSecurity and

                                                                                                                                                                                                                        StabilitybullCommand

                                                                                                                                                                                                                        Equity and Security

                                                                                                                                                                                                                        bullMARKETEfficiency and

                                                                                                                                                                                                                        Freedom

                                                                                                                                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                        Which economic system does the US use

                                                                                                                                                                                                                        The American Economic System

                                                                                                                                                                                                                        bullWe have a mixed market economy

                                                                                                                                                                                                                        COMMAND MARKET

                                                                                                                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                        Think backhellip

                                                                                                                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                        2 Limited government

                                                                                                                                                                                                                        3 Equal opportunity

                                                                                                                                                                                                                        4 Competition

                                                                                                                                                                                                                        5 Profit motive

                                                                                                                                                                                                                        6 Property Rights

                                                                                                                                                                                                                        7 Binding Contracts

                                                                                                                                                                                                                        Understanding how all parts fit together

                                                                                                                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                        Shows interdependence between

                                                                                                                                                                                                                        businesses and individuals

                                                                                                                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                        Do you remember

                                                                                                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                        democracy and mixed economy

                                                                                                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                                                                                                        • Slide 3
                                                                                                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                                                                                                        • Slide 6
                                                                                                                                                                                                                        • 2 How about to your life
                                                                                                                                                                                                                        • Slide 8
                                                                                                                                                                                                                        • Slide 9
                                                                                                                                                                                                                        • Slide 10
                                                                                                                                                                                                                        • Slide 11
                                                                                                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                                                                                                        • Individualism
                                                                                                                                                                                                                        • Quote activity
                                                                                                                                                                                                                        • Quote breakdown
                                                                                                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                        • Purpose of Government
                                                                                                                                                                                                                        • Slide 20
                                                                                                                                                                                                                        • 3 Theorists
                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                        • Groups Block 2
                                                                                                                                                                                                                        • Groups Block 4
                                                                                                                                                                                                                        • Balloon Game
                                                                                                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                                                                                                        • Political Theories
                                                                                                                                                                                                                        • Social Contract
                                                                                                                                                                                                                        • Natural Rights
                                                                                                                                                                                                                        • Democracy
                                                                                                                                                                                                                        • Concepts of Government
                                                                                                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                                                                                                        • Warm Up 7
                                                                                                                                                                                                                        • And after the Constitution
                                                                                                                                                                                                                        • Activity (2)
                                                                                                                                                                                                                        • Picture Activity
                                                                                                                                                                                                                        • Constitutional Convention
                                                                                                                                                                                                                        • Purpose of the Convention
                                                                                                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                        • Your Task
                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                        • States agree
                                                                                                                                                                                                                        • Quote
                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                        • 6 Purpose of Government
                                                                                                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                                                                                                        • Principles of Constitution
                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                        • Slide 60
                                                                                                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                                                                                                        • Question 1
                                                                                                                                                                                                                        • Question 2
                                                                                                                                                                                                                        • Question 3
                                                                                                                                                                                                                        • Question 4
                                                                                                                                                                                                                        • Question 5
                                                                                                                                                                                                                        • Question 6
                                                                                                                                                                                                                        • Question 7
                                                                                                                                                                                                                        • Question 8
                                                                                                                                                                                                                        • Groups
                                                                                                                                                                                                                        • Separation of Powers
                                                                                                                                                                                                                        • Video
                                                                                                                                                                                                                        • Checks and Balances
                                                                                                                                                                                                                        • Slide 74
                                                                                                                                                                                                                        • Checks and balances
                                                                                                                                                                                                                        • Basic Principles
                                                                                                                                                                                                                        • Self- Worth
                                                                                                                                                                                                                        • Equality
                                                                                                                                                                                                                        • Compromise
                                                                                                                                                                                                                        • Individual Freedom
                                                                                                                                                                                                                        • Write your ownhellip
                                                                                                                                                                                                                        • Slide 82
                                                                                                                                                                                                                        • TED Talk
                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                        • What is Economics
                                                                                                                                                                                                                        • Economics ishellip
                                                                                                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                        • For the videohellip
                                                                                                                                                                                                                        • Slide 90
                                                                                                                                                                                                                        • Post Videohellip
                                                                                                                                                                                                                        • Advertisement
                                                                                                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                                                                                                        • Factors of Production
                                                                                                                                                                                                                        • TASK
                                                                                                                                                                                                                        • The price ofhellip
                                                                                                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                        • 1 What to produce
                                                                                                                                                                                                                        • 2 How to produce it
                                                                                                                                                                                                                        • 3 For whom to produce it
                                                                                                                                                                                                                        • Application Activity
                                                                                                                                                                                                                        • EQs
                                                                                                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                                                                                                        • Slide 105
                                                                                                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                                                                                                        • How do we make goods amp services
                                                                                                                                                                                                                        • Economic Interdependence
                                                                                                                                                                                                                        • Slide 109
                                                                                                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                        • Exampleshellip
                                                                                                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                        • Opportunity Cost
                                                                                                                                                                                                                        • What else influences your choices
                                                                                                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                                                                                                        • PPF Assumptions
                                                                                                                                                                                                                        • Slide 121
                                                                                                                                                                                                                        • Production Possibilities Curve
                                                                                                                                                                                                                        • The Choices Nations Make
                                                                                                                                                                                                                        • Economic Growth
                                                                                                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                                                                                                        • Productivity
                                                                                                                                                                                                                        • Locations on a PPF
                                                                                                                                                                                                                        • Slide 128
                                                                                                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                        • Economic Systems
                                                                                                                                                                                                                        • Jigsaw activity
                                                                                                                                                                                                                        • Slide 132
                                                                                                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                        • Review of Economic Systems
                                                                                                                                                                                                                        • Slide 135
                                                                                                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                                                                                                        • Which economic system does the US use
                                                                                                                                                                                                                        • The American Economic System
                                                                                                                                                                                                                        • The US mixed economy
                                                                                                                                                                                                                        • Slide 140
                                                                                                                                                                                                                        • Think backhellip
                                                                                                                                                                                                                        • US Economic System Characteristics
                                                                                                                                                                                                                        • Slide 143
                                                                                                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                                                                                                        • Marriage Vows
                                                                                                                                                                                                                        • Do you remember
                                                                                                                                                                                                                        • Slide 147

                                                                                                                                                                                                                          ExampleshellipbullSome choices are easy to makehellip

                                                                                                                                                                                                                          HmmhellipShould I have pizza or a hoagie for lunch today

                                                                                                                                                                                                                          bullOther decisions are agonizinghellipShould I get out of bed and go to

                                                                                                                                                                                                                          school today or should I sleep in

                                                                                                                                                                                                                          Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                                          In the end what helped you decide amongst your choices

                                                                                                                                                                                                                          Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                                          tradeoffs for that decision

                                                                                                                                                                                                                          Be prepared to share

                                                                                                                                                                                                                          Opportunity Cost

                                                                                                                                                                                                                          bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                                          bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                                          Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                                          we want

                                                                                                                                                                                                                          What else influences your choices

                                                                                                                                                                                                                          bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                                          bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                                          FinallyhellipWhy it Matters

                                                                                                                                                                                                                          Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                          better decision-maker

                                                                                                                                                                                                                          Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                          You always have to give something uphelliprdquo

                                                                                                                                                                                                                          ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                          decisions

                                                                                                                                                                                                                          Visualizing the Relationshiphellip

                                                                                                                                                                                                                          Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                          Scarcity

                                                                                                                                                                                                                          Trade-offs (choices)

                                                                                                                                                                                                                          Opportunity Costs

                                                                                                                                                                                                                          ObjectivesEssential Questions

                                                                                                                                                                                                                          bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                          the three different types of economies

                                                                                                                                                                                                                          bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                          How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                          Making Choices

                                                                                                                                                                                                                          Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                          Production Possibilities Frontier

                                                                                                                                                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                          PPF Assumptions

                                                                                                                                                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                          Production Possibilities Curve

                                                                                                                                                                                                                          CD

                                                                                                                                                                                                                          E

                                                                                                                                                                                                                          OU

                                                                                                                                                                                                                          TP

                                                                                                                                                                                                                          UT

                                                                                                                                                                                                                          OF

                                                                                                                                                                                                                          CO

                                                                                                                                                                                                                          NS

                                                                                                                                                                                                                          UM

                                                                                                                                                                                                                          ER

                                                                                                                                                                                                                          GO

                                                                                                                                                                                                                          OD

                                                                                                                                                                                                                          S

                                                                                                                                                                                                                          (un

                                                                                                                                                                                                                          its

                                                                                                                                                                                                                          per

                                                                                                                                                                                                                          yea

                                                                                                                                                                                                                          r)

                                                                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                          A

                                                                                                                                                                                                                          BO

                                                                                                                                                                                                                          XF

                                                                                                                                                                                                                          G

                                                                                                                                                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                          The Choices Nations Make

                                                                                                                                                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                          bullProduce military goods or consumer goods

                                                                                                                                                                                                                          Economic Growth

                                                                                                                                                                                                                          2000 production possibilities

                                                                                                                                                                                                                          1900 production possibilities

                                                                                                                                                                                                                          OU

                                                                                                                                                                                                                          TP

                                                                                                                                                                                                                          UT

                                                                                                                                                                                                                          OF

                                                                                                                                                                                                                          CO

                                                                                                                                                                                                                          NS

                                                                                                                                                                                                                          UM

                                                                                                                                                                                                                          ER

                                                                                                                                                                                                                          GO

                                                                                                                                                                                                                          OD

                                                                                                                                                                                                                          S(u

                                                                                                                                                                                                                          nits

                                                                                                                                                                                                                          per

                                                                                                                                                                                                                          yea

                                                                                                                                                                                                                          r)

                                                                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                          Production possibilities increases with more resources and technology

                                                                                                                                                                                                                          The Classic Guns and Butter example

                                                                                                                                                                                                                          Guns

                                                                                                                                                                                                                          Butter

                                                                                                                                                                                                                          10000 20000 30000 40000 50000

                                                                                                                                                                                                                          1000009500085000

                                                                                                                                                                                                                          70000

                                                                                                                                                                                                                          5000040000

                                                                                                                                                                                                                          BA

                                                                                                                                                                                                                          C

                                                                                                                                                                                                                          D

                                                                                                                                                                                                                          E

                                                                                                                                                                                                                          F

                                                                                                                                                                                                                          At point A all resources are used for butter

                                                                                                                                                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                          At point F all resources are used for Guns

                                                                                                                                                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                          choices are

                                                                                                                                                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                          Locations on a PPF

                                                                                                                                                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                          Food

                                                                                                                                                                                                                          Computer

                                                                                                                                                                                                                          4

                                                                                                                                                                                                                          3

                                                                                                                                                                                                                          2

                                                                                                                                                                                                                          1

                                                                                                                                                                                                                          1 2 3 4

                                                                                                                                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                          Unit

                                                                                                                                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                          additional computers

                                                                                                                                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                          Principle of Increasing Costs

                                                                                                                                                                                                                          As a society produces more of one product the OC of producing

                                                                                                                                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                          Economic Systems

                                                                                                                                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                          Jigsaw activity

                                                                                                                                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                          bull Economic Freedom

                                                                                                                                                                                                                          bull Economic Efficiency

                                                                                                                                                                                                                          bull Economic Equity

                                                                                                                                                                                                                          bull Economic Security

                                                                                                                                                                                                                          Economic Stability

                                                                                                                                                                                                                          Economic Growth

                                                                                                                                                                                                                          Review of Economic Systems

                                                                                                                                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                          What are the most important goals of each economic system

                                                                                                                                                                                                                          bullTraditionalSecurity and

                                                                                                                                                                                                                          StabilitybullCommand

                                                                                                                                                                                                                          Equity and Security

                                                                                                                                                                                                                          bullMARKETEfficiency and

                                                                                                                                                                                                                          Freedom

                                                                                                                                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                          Which economic system does the US use

                                                                                                                                                                                                                          The American Economic System

                                                                                                                                                                                                                          bullWe have a mixed market economy

                                                                                                                                                                                                                          COMMAND MARKET

                                                                                                                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                          Think backhellip

                                                                                                                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                          2 Limited government

                                                                                                                                                                                                                          3 Equal opportunity

                                                                                                                                                                                                                          4 Competition

                                                                                                                                                                                                                          5 Profit motive

                                                                                                                                                                                                                          6 Property Rights

                                                                                                                                                                                                                          7 Binding Contracts

                                                                                                                                                                                                                          Understanding how all parts fit together

                                                                                                                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                          Shows interdependence between

                                                                                                                                                                                                                          businesses and individuals

                                                                                                                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                          Do you remember

                                                                                                                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                          democracy and mixed economy

                                                                                                                                                                                                                          • Foundations of Government and Economics
                                                                                                                                                                                                                          • On your blank piece of paperhellip
                                                                                                                                                                                                                          • Slide 3
                                                                                                                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                                                                                                                          • Introductory thoughts hellip
                                                                                                                                                                                                                          • Slide 6
                                                                                                                                                                                                                          • 2 How about to your life
                                                                                                                                                                                                                          • Slide 8
                                                                                                                                                                                                                          • Slide 9
                                                                                                                                                                                                                          • Slide 10
                                                                                                                                                                                                                          • Slide 11
                                                                                                                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                                                                                                                          • Economist and Politician Assumptions
                                                                                                                                                                                                                          • Individualism
                                                                                                                                                                                                                          • Quote activity
                                                                                                                                                                                                                          • Quote breakdown
                                                                                                                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                          • Purpose of Government
                                                                                                                                                                                                                          • Slide 20
                                                                                                                                                                                                                          • 3 Theorists
                                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                                          • Origins of American Government A customized government
                                                                                                                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                                                                                                                          • With which theory do you agree more Why
                                                                                                                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                          • Groups Block 2
                                                                                                                                                                                                                          • Groups Block 4
                                                                                                                                                                                                                          • Balloon Game
                                                                                                                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                          • Balloon Game Debriefing
                                                                                                                                                                                                                          • Political Theories
                                                                                                                                                                                                                          • Social Contract
                                                                                                                                                                                                                          • Natural Rights
                                                                                                                                                                                                                          • Democracy
                                                                                                                                                                                                                          • Concepts of Government
                                                                                                                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                                                                                                                          • Warm Up 7
                                                                                                                                                                                                                          • And after the Constitution
                                                                                                                                                                                                                          • Activity (2)
                                                                                                                                                                                                                          • Picture Activity
                                                                                                                                                                                                                          • Constitutional Convention
                                                                                                                                                                                                                          • Purpose of the Convention
                                                                                                                                                                                                                          • VA Plan v NJ Plan
                                                                                                                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                          • Your Task
                                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                                          • States agree
                                                                                                                                                                                                                          • Quote
                                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                                          • 6 Purpose of Government
                                                                                                                                                                                                                          • Structure of Constitution (2)
                                                                                                                                                                                                                          • Structure of Constitution (3)
                                                                                                                                                                                                                          • Principles of Constitution
                                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                                          • Slide 60
                                                                                                                                                                                                                          • Check for Understanding Six Principles
                                                                                                                                                                                                                          • Question 1
                                                                                                                                                                                                                          • Question 2
                                                                                                                                                                                                                          • Question 3
                                                                                                                                                                                                                          • Question 4
                                                                                                                                                                                                                          • Question 5
                                                                                                                                                                                                                          • Question 6
                                                                                                                                                                                                                          • Question 7
                                                                                                                                                                                                                          • Question 8
                                                                                                                                                                                                                          • Groups
                                                                                                                                                                                                                          • Separation of Powers
                                                                                                                                                                                                                          • Video
                                                                                                                                                                                                                          • Checks and Balances
                                                                                                                                                                                                                          • Slide 74
                                                                                                                                                                                                                          • Checks and balances
                                                                                                                                                                                                                          • Basic Principles
                                                                                                                                                                                                                          • Self- Worth
                                                                                                                                                                                                                          • Equality
                                                                                                                                                                                                                          • Compromise
                                                                                                                                                                                                                          • Individual Freedom
                                                                                                                                                                                                                          • Write your ownhellip
                                                                                                                                                                                                                          • Slide 82
                                                                                                                                                                                                                          • TED Talk
                                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                                          • What is Economics
                                                                                                                                                                                                                          • Economics ishellip
                                                                                                                                                                                                                          • Back to our assumptionshellip
                                                                                                                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                          • For the videohellip
                                                                                                                                                                                                                          • Slide 90
                                                                                                                                                                                                                          • Post Videohellip
                                                                                                                                                                                                                          • Advertisement
                                                                                                                                                                                                                          • Political Cartoon Analysis
                                                                                                                                                                                                                          • Factors of Production
                                                                                                                                                                                                                          • TASK
                                                                                                                                                                                                                          • The price ofhellip
                                                                                                                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                          • 1 What to produce
                                                                                                                                                                                                                          • 2 How to produce it
                                                                                                                                                                                                                          • 3 For whom to produce it
                                                                                                                                                                                                                          • Application Activity
                                                                                                                                                                                                                          • EQs
                                                                                                                                                                                                                          • Objectives amp Essential Questions
                                                                                                                                                                                                                          • Group Activity Budget Activity
                                                                                                                                                                                                                          • Slide 105
                                                                                                                                                                                                                          • How do we satisfy our economic wants
                                                                                                                                                                                                                          • How do we make goods amp services
                                                                                                                                                                                                                          • Economic Interdependence
                                                                                                                                                                                                                          • Slide 109
                                                                                                                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                          • Exampleshellip
                                                                                                                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                          • Opportunity Cost
                                                                                                                                                                                                                          • What else influences your choices
                                                                                                                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                                                                                                                          • ObjectivesEssential Questions
                                                                                                                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                          • Production Possibilities Frontier
                                                                                                                                                                                                                          • PPF Assumptions
                                                                                                                                                                                                                          • Slide 121
                                                                                                                                                                                                                          • Production Possibilities Curve
                                                                                                                                                                                                                          • The Choices Nations Make
                                                                                                                                                                                                                          • Economic Growth
                                                                                                                                                                                                                          • The Classic Guns and Butter example
                                                                                                                                                                                                                          • Productivity
                                                                                                                                                                                                                          • Locations on a PPF
                                                                                                                                                                                                                          • Slide 128
                                                                                                                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                          • Economic Systems
                                                                                                                                                                                                                          • Jigsaw activity
                                                                                                                                                                                                                          • Slide 132
                                                                                                                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                          • Review of Economic Systems
                                                                                                                                                                                                                          • Slide 135
                                                                                                                                                                                                                          • What are the most important goals of each economic system
                                                                                                                                                                                                                          • Which economic system does the US use
                                                                                                                                                                                                                          • The American Economic System
                                                                                                                                                                                                                          • The US mixed economy
                                                                                                                                                                                                                          • Slide 140
                                                                                                                                                                                                                          • Think backhellip
                                                                                                                                                                                                                          • US Economic System Characteristics
                                                                                                                                                                                                                          • Slide 143
                                                                                                                                                                                                                          • Understanding how all parts fit together
                                                                                                                                                                                                                          • Marriage Vows
                                                                                                                                                                                                                          • Do you remember
                                                                                                                                                                                                                          • Slide 147

                                                                                                                                                                                                                            Task Reflecting on Personal Trade-offshellip

                                                                                                                                                                                                                            In the end what helped you decide amongst your choices

                                                                                                                                                                                                                            Think of ONE decision thatyou had to make in the last weekhellipIdentify your various

                                                                                                                                                                                                                            tradeoffs for that decision

                                                                                                                                                                                                                            Be prepared to share

                                                                                                                                                                                                                            Opportunity Cost

                                                                                                                                                                                                                            bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                                            bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                                            Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                                            we want

                                                                                                                                                                                                                            What else influences your choices

                                                                                                                                                                                                                            bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                                            bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                                            FinallyhellipWhy it Matters

                                                                                                                                                                                                                            Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                            better decision-maker

                                                                                                                                                                                                                            Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                            You always have to give something uphelliprdquo

                                                                                                                                                                                                                            ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                            decisions

                                                                                                                                                                                                                            Visualizing the Relationshiphellip

                                                                                                                                                                                                                            Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                            Scarcity

                                                                                                                                                                                                                            Trade-offs (choices)

                                                                                                                                                                                                                            Opportunity Costs

                                                                                                                                                                                                                            ObjectivesEssential Questions

                                                                                                                                                                                                                            bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                            the three different types of economies

                                                                                                                                                                                                                            bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                            How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                            Making Choices

                                                                                                                                                                                                                            Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                            Production Possibilities Frontier

                                                                                                                                                                                                                            bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                            PPF Assumptions

                                                                                                                                                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                            Production Possibilities Curve

                                                                                                                                                                                                                            CD

                                                                                                                                                                                                                            E

                                                                                                                                                                                                                            OU

                                                                                                                                                                                                                            TP

                                                                                                                                                                                                                            UT

                                                                                                                                                                                                                            OF

                                                                                                                                                                                                                            CO

                                                                                                                                                                                                                            NS

                                                                                                                                                                                                                            UM

                                                                                                                                                                                                                            ER

                                                                                                                                                                                                                            GO

                                                                                                                                                                                                                            OD

                                                                                                                                                                                                                            S

                                                                                                                                                                                                                            (un

                                                                                                                                                                                                                            its

                                                                                                                                                                                                                            per

                                                                                                                                                                                                                            yea

                                                                                                                                                                                                                            r)

                                                                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                            A

                                                                                                                                                                                                                            BO

                                                                                                                                                                                                                            XF

                                                                                                                                                                                                                            G

                                                                                                                                                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                            The Choices Nations Make

                                                                                                                                                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                            bullProduce military goods or consumer goods

                                                                                                                                                                                                                            Economic Growth

                                                                                                                                                                                                                            2000 production possibilities

                                                                                                                                                                                                                            1900 production possibilities

                                                                                                                                                                                                                            OU

                                                                                                                                                                                                                            TP

                                                                                                                                                                                                                            UT

                                                                                                                                                                                                                            OF

                                                                                                                                                                                                                            CO

                                                                                                                                                                                                                            NS

                                                                                                                                                                                                                            UM

                                                                                                                                                                                                                            ER

                                                                                                                                                                                                                            GO

                                                                                                                                                                                                                            OD

                                                                                                                                                                                                                            S(u

                                                                                                                                                                                                                            nits

                                                                                                                                                                                                                            per

                                                                                                                                                                                                                            yea

                                                                                                                                                                                                                            r)

                                                                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                            Production possibilities increases with more resources and technology

                                                                                                                                                                                                                            The Classic Guns and Butter example

                                                                                                                                                                                                                            Guns

                                                                                                                                                                                                                            Butter

                                                                                                                                                                                                                            10000 20000 30000 40000 50000

                                                                                                                                                                                                                            1000009500085000

                                                                                                                                                                                                                            70000

                                                                                                                                                                                                                            5000040000

                                                                                                                                                                                                                            BA

                                                                                                                                                                                                                            C

                                                                                                                                                                                                                            D

                                                                                                                                                                                                                            E

                                                                                                                                                                                                                            F

                                                                                                                                                                                                                            At point A all resources are used for butter

                                                                                                                                                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                            At point F all resources are used for Guns

                                                                                                                                                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                            choices are

                                                                                                                                                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                            Locations on a PPF

                                                                                                                                                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                            Food

                                                                                                                                                                                                                            Computer

                                                                                                                                                                                                                            4

                                                                                                                                                                                                                            3

                                                                                                                                                                                                                            2

                                                                                                                                                                                                                            1

                                                                                                                                                                                                                            1 2 3 4

                                                                                                                                                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                            Unit

                                                                                                                                                                                                                            Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                            additional computers

                                                                                                                                                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                            Principle of Increasing Costs

                                                                                                                                                                                                                            As a society produces more of one product the OC of producing

                                                                                                                                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                            Economic Systems

                                                                                                                                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                            Jigsaw activity

                                                                                                                                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                            bull Economic Freedom

                                                                                                                                                                                                                            bull Economic Efficiency

                                                                                                                                                                                                                            bull Economic Equity

                                                                                                                                                                                                                            bull Economic Security

                                                                                                                                                                                                                            Economic Stability

                                                                                                                                                                                                                            Economic Growth

                                                                                                                                                                                                                            Review of Economic Systems

                                                                                                                                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                            What are the most important goals of each economic system

                                                                                                                                                                                                                            bullTraditionalSecurity and

                                                                                                                                                                                                                            StabilitybullCommand

                                                                                                                                                                                                                            Equity and Security

                                                                                                                                                                                                                            bullMARKETEfficiency and

                                                                                                                                                                                                                            Freedom

                                                                                                                                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                            Which economic system does the US use

                                                                                                                                                                                                                            The American Economic System

                                                                                                                                                                                                                            bullWe have a mixed market economy

                                                                                                                                                                                                                            COMMAND MARKET

                                                                                                                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                            Think backhellip

                                                                                                                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                            2 Limited government

                                                                                                                                                                                                                            3 Equal opportunity

                                                                                                                                                                                                                            4 Competition

                                                                                                                                                                                                                            5 Profit motive

                                                                                                                                                                                                                            6 Property Rights

                                                                                                                                                                                                                            7 Binding Contracts

                                                                                                                                                                                                                            Understanding how all parts fit together

                                                                                                                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                            Shows interdependence between

                                                                                                                                                                                                                            businesses and individuals

                                                                                                                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                            Do you remember

                                                                                                                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                            democracy and mixed economy

                                                                                                                                                                                                                            • Foundations of Government and Economics
                                                                                                                                                                                                                            • On your blank piece of paperhellip
                                                                                                                                                                                                                            • Slide 3
                                                                                                                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                                                                                                                            • Introductory thoughts hellip
                                                                                                                                                                                                                            • Slide 6
                                                                                                                                                                                                                            • 2 How about to your life
                                                                                                                                                                                                                            • Slide 8
                                                                                                                                                                                                                            • Slide 9
                                                                                                                                                                                                                            • Slide 10
                                                                                                                                                                                                                            • Slide 11
                                                                                                                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                                                                                                                            • Economist and Politician Assumptions
                                                                                                                                                                                                                            • Individualism
                                                                                                                                                                                                                            • Quote activity
                                                                                                                                                                                                                            • Quote breakdown
                                                                                                                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                            • Purpose of Government
                                                                                                                                                                                                                            • Slide 20
                                                                                                                                                                                                                            • 3 Theorists
                                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                                            • Origins of American Government A customized government
                                                                                                                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                                                                                                                            • With which theory do you agree more Why
                                                                                                                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                            • Groups Block 2
                                                                                                                                                                                                                            • Groups Block 4
                                                                                                                                                                                                                            • Balloon Game
                                                                                                                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                            • Balloon Game Debriefing
                                                                                                                                                                                                                            • Political Theories
                                                                                                                                                                                                                            • Social Contract
                                                                                                                                                                                                                            • Natural Rights
                                                                                                                                                                                                                            • Democracy
                                                                                                                                                                                                                            • Concepts of Government
                                                                                                                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                                                                                                                            • Warm Up 7
                                                                                                                                                                                                                            • And after the Constitution
                                                                                                                                                                                                                            • Activity (2)
                                                                                                                                                                                                                            • Picture Activity
                                                                                                                                                                                                                            • Constitutional Convention
                                                                                                                                                                                                                            • Purpose of the Convention
                                                                                                                                                                                                                            • VA Plan v NJ Plan
                                                                                                                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                            • Your Task
                                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                                            • States agree
                                                                                                                                                                                                                            • Quote
                                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                                            • 6 Purpose of Government
                                                                                                                                                                                                                            • Structure of Constitution (2)
                                                                                                                                                                                                                            • Structure of Constitution (3)
                                                                                                                                                                                                                            • Principles of Constitution
                                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                                            • Slide 60
                                                                                                                                                                                                                            • Check for Understanding Six Principles
                                                                                                                                                                                                                            • Question 1
                                                                                                                                                                                                                            • Question 2
                                                                                                                                                                                                                            • Question 3
                                                                                                                                                                                                                            • Question 4
                                                                                                                                                                                                                            • Question 5
                                                                                                                                                                                                                            • Question 6
                                                                                                                                                                                                                            • Question 7
                                                                                                                                                                                                                            • Question 8
                                                                                                                                                                                                                            • Groups
                                                                                                                                                                                                                            • Separation of Powers
                                                                                                                                                                                                                            • Video
                                                                                                                                                                                                                            • Checks and Balances
                                                                                                                                                                                                                            • Slide 74
                                                                                                                                                                                                                            • Checks and balances
                                                                                                                                                                                                                            • Basic Principles
                                                                                                                                                                                                                            • Self- Worth
                                                                                                                                                                                                                            • Equality
                                                                                                                                                                                                                            • Compromise
                                                                                                                                                                                                                            • Individual Freedom
                                                                                                                                                                                                                            • Write your ownhellip
                                                                                                                                                                                                                            • Slide 82
                                                                                                                                                                                                                            • TED Talk
                                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                                            • What is Economics
                                                                                                                                                                                                                            • Economics ishellip
                                                                                                                                                                                                                            • Back to our assumptionshellip
                                                                                                                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                            • For the videohellip
                                                                                                                                                                                                                            • Slide 90
                                                                                                                                                                                                                            • Post Videohellip
                                                                                                                                                                                                                            • Advertisement
                                                                                                                                                                                                                            • Political Cartoon Analysis
                                                                                                                                                                                                                            • Factors of Production
                                                                                                                                                                                                                            • TASK
                                                                                                                                                                                                                            • The price ofhellip
                                                                                                                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                            • 1 What to produce
                                                                                                                                                                                                                            • 2 How to produce it
                                                                                                                                                                                                                            • 3 For whom to produce it
                                                                                                                                                                                                                            • Application Activity
                                                                                                                                                                                                                            • EQs
                                                                                                                                                                                                                            • Objectives amp Essential Questions
                                                                                                                                                                                                                            • Group Activity Budget Activity
                                                                                                                                                                                                                            • Slide 105
                                                                                                                                                                                                                            • How do we satisfy our economic wants
                                                                                                                                                                                                                            • How do we make goods amp services
                                                                                                                                                                                                                            • Economic Interdependence
                                                                                                                                                                                                                            • Slide 109
                                                                                                                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                            • Exampleshellip
                                                                                                                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                            • Opportunity Cost
                                                                                                                                                                                                                            • What else influences your choices
                                                                                                                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                                                                                                                            • ObjectivesEssential Questions
                                                                                                                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                            • Production Possibilities Frontier
                                                                                                                                                                                                                            • PPF Assumptions
                                                                                                                                                                                                                            • Slide 121
                                                                                                                                                                                                                            • Production Possibilities Curve
                                                                                                                                                                                                                            • The Choices Nations Make
                                                                                                                                                                                                                            • Economic Growth
                                                                                                                                                                                                                            • The Classic Guns and Butter example
                                                                                                                                                                                                                            • Productivity
                                                                                                                                                                                                                            • Locations on a PPF
                                                                                                                                                                                                                            • Slide 128
                                                                                                                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                            • Economic Systems
                                                                                                                                                                                                                            • Jigsaw activity
                                                                                                                                                                                                                            • Slide 132
                                                                                                                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                            • Review of Economic Systems
                                                                                                                                                                                                                            • Slide 135
                                                                                                                                                                                                                            • What are the most important goals of each economic system
                                                                                                                                                                                                                            • Which economic system does the US use
                                                                                                                                                                                                                            • The American Economic System
                                                                                                                                                                                                                            • The US mixed economy
                                                                                                                                                                                                                            • Slide 140
                                                                                                                                                                                                                            • Think backhellip
                                                                                                                                                                                                                            • US Economic System Characteristics
                                                                                                                                                                                                                            • Slide 143
                                                                                                                                                                                                                            • Understanding how all parts fit together
                                                                                                                                                                                                                            • Marriage Vows
                                                                                                                                                                                                                            • Do you remember
                                                                                                                                                                                                                            • Slide 147

                                                                                                                                                                                                                              Opportunity Cost

                                                                                                                                                                                                                              bullWhen comparing the top 2 choices it is the BENEFIT of the next best alternative that must be sacrificed to satisfy a want

                                                                                                                                                                                                                              bullYou do a cost-benefit analysis to figure out which decision is most beneficial

                                                                                                                                                                                                                              Opportunity Cost ndash The best thing we give up to get what

                                                                                                                                                                                                                              we want

                                                                                                                                                                                                                              What else influences your choices

                                                                                                                                                                                                                              bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                                              bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                                              FinallyhellipWhy it Matters

                                                                                                                                                                                                                              Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                              better decision-maker

                                                                                                                                                                                                                              Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                              You always have to give something uphelliprdquo

                                                                                                                                                                                                                              ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                              decisions

                                                                                                                                                                                                                              Visualizing the Relationshiphellip

                                                                                                                                                                                                                              Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                              Scarcity

                                                                                                                                                                                                                              Trade-offs (choices)

                                                                                                                                                                                                                              Opportunity Costs

                                                                                                                                                                                                                              ObjectivesEssential Questions

                                                                                                                                                                                                                              bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                              the three different types of economies

                                                                                                                                                                                                                              bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                              How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                              Making Choices

                                                                                                                                                                                                                              Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                              Production Possibilities Frontier

                                                                                                                                                                                                                              bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                              PPF Assumptions

                                                                                                                                                                                                                              bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                              Production Possibilities Curve

                                                                                                                                                                                                                              CD

                                                                                                                                                                                                                              E

                                                                                                                                                                                                                              OU

                                                                                                                                                                                                                              TP

                                                                                                                                                                                                                              UT

                                                                                                                                                                                                                              OF

                                                                                                                                                                                                                              CO

                                                                                                                                                                                                                              NS

                                                                                                                                                                                                                              UM

                                                                                                                                                                                                                              ER

                                                                                                                                                                                                                              GO

                                                                                                                                                                                                                              OD

                                                                                                                                                                                                                              S

                                                                                                                                                                                                                              (un

                                                                                                                                                                                                                              its

                                                                                                                                                                                                                              per

                                                                                                                                                                                                                              yea

                                                                                                                                                                                                                              r)

                                                                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                              A

                                                                                                                                                                                                                              BO

                                                                                                                                                                                                                              XF

                                                                                                                                                                                                                              G

                                                                                                                                                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                              The Choices Nations Make

                                                                                                                                                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                              bullProduce military goods or consumer goods

                                                                                                                                                                                                                              Economic Growth

                                                                                                                                                                                                                              2000 production possibilities

                                                                                                                                                                                                                              1900 production possibilities

                                                                                                                                                                                                                              OU

                                                                                                                                                                                                                              TP

                                                                                                                                                                                                                              UT

                                                                                                                                                                                                                              OF

                                                                                                                                                                                                                              CO

                                                                                                                                                                                                                              NS

                                                                                                                                                                                                                              UM

                                                                                                                                                                                                                              ER

                                                                                                                                                                                                                              GO

                                                                                                                                                                                                                              OD

                                                                                                                                                                                                                              S(u

                                                                                                                                                                                                                              nits

                                                                                                                                                                                                                              per

                                                                                                                                                                                                                              yea

                                                                                                                                                                                                                              r)

                                                                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                              Production possibilities increases with more resources and technology

                                                                                                                                                                                                                              The Classic Guns and Butter example

                                                                                                                                                                                                                              Guns

                                                                                                                                                                                                                              Butter

                                                                                                                                                                                                                              10000 20000 30000 40000 50000

                                                                                                                                                                                                                              1000009500085000

                                                                                                                                                                                                                              70000

                                                                                                                                                                                                                              5000040000

                                                                                                                                                                                                                              BA

                                                                                                                                                                                                                              C

                                                                                                                                                                                                                              D

                                                                                                                                                                                                                              E

                                                                                                                                                                                                                              F

                                                                                                                                                                                                                              At point A all resources are used for butter

                                                                                                                                                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                              At point F all resources are used for Guns

                                                                                                                                                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                              choices are

                                                                                                                                                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                              Locations on a PPF

                                                                                                                                                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                              Food

                                                                                                                                                                                                                              Computer

                                                                                                                                                                                                                              4

                                                                                                                                                                                                                              3

                                                                                                                                                                                                                              2

                                                                                                                                                                                                                              1

                                                                                                                                                                                                                              1 2 3 4

                                                                                                                                                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                              Unit

                                                                                                                                                                                                                              Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                              additional computers

                                                                                                                                                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                              Principle of Increasing Costs

                                                                                                                                                                                                                              As a society produces more of one product the OC of producing

                                                                                                                                                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                              Economic Systems

                                                                                                                                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                              Jigsaw activity

                                                                                                                                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                              bull Economic Freedom

                                                                                                                                                                                                                              bull Economic Efficiency

                                                                                                                                                                                                                              bull Economic Equity

                                                                                                                                                                                                                              bull Economic Security

                                                                                                                                                                                                                              Economic Stability

                                                                                                                                                                                                                              Economic Growth

                                                                                                                                                                                                                              Review of Economic Systems

                                                                                                                                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                              What are the most important goals of each economic system

                                                                                                                                                                                                                              bullTraditionalSecurity and

                                                                                                                                                                                                                              StabilitybullCommand

                                                                                                                                                                                                                              Equity and Security

                                                                                                                                                                                                                              bullMARKETEfficiency and

                                                                                                                                                                                                                              Freedom

                                                                                                                                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                              Which economic system does the US use

                                                                                                                                                                                                                              The American Economic System

                                                                                                                                                                                                                              bullWe have a mixed market economy

                                                                                                                                                                                                                              COMMAND MARKET

                                                                                                                                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                              Think backhellip

                                                                                                                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                              2 Limited government

                                                                                                                                                                                                                              3 Equal opportunity

                                                                                                                                                                                                                              4 Competition

                                                                                                                                                                                                                              5 Profit motive

                                                                                                                                                                                                                              6 Property Rights

                                                                                                                                                                                                                              7 Binding Contracts

                                                                                                                                                                                                                              Understanding how all parts fit together

                                                                                                                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                              Shows interdependence between

                                                                                                                                                                                                                              businesses and individuals

                                                                                                                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                              Do you remember

                                                                                                                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                              democracy and mixed economy

                                                                                                                                                                                                                              • Foundations of Government and Economics
                                                                                                                                                                                                                              • On your blank piece of paperhellip
                                                                                                                                                                                                                              • Slide 3
                                                                                                                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                                                                                                                              • Introductory thoughts hellip
                                                                                                                                                                                                                              • Slide 6
                                                                                                                                                                                                                              • 2 How about to your life
                                                                                                                                                                                                                              • Slide 8
                                                                                                                                                                                                                              • Slide 9
                                                                                                                                                                                                                              • Slide 10
                                                                                                                                                                                                                              • Slide 11
                                                                                                                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                                                                                                                              • Economist and Politician Assumptions
                                                                                                                                                                                                                              • Individualism
                                                                                                                                                                                                                              • Quote activity
                                                                                                                                                                                                                              • Quote breakdown
                                                                                                                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                              • Purpose of Government
                                                                                                                                                                                                                              • Slide 20
                                                                                                                                                                                                                              • 3 Theorists
                                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                                              • Origins of American Government A customized government
                                                                                                                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                                                                                                                              • With which theory do you agree more Why
                                                                                                                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                              • Groups Block 2
                                                                                                                                                                                                                              • Groups Block 4
                                                                                                                                                                                                                              • Balloon Game
                                                                                                                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                              • Balloon Game Debriefing
                                                                                                                                                                                                                              • Political Theories
                                                                                                                                                                                                                              • Social Contract
                                                                                                                                                                                                                              • Natural Rights
                                                                                                                                                                                                                              • Democracy
                                                                                                                                                                                                                              • Concepts of Government
                                                                                                                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                                                                                                                              • Warm Up 7
                                                                                                                                                                                                                              • And after the Constitution
                                                                                                                                                                                                                              • Activity (2)
                                                                                                                                                                                                                              • Picture Activity
                                                                                                                                                                                                                              • Constitutional Convention
                                                                                                                                                                                                                              • Purpose of the Convention
                                                                                                                                                                                                                              • VA Plan v NJ Plan
                                                                                                                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                              • Your Task
                                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                                              • States agree
                                                                                                                                                                                                                              • Quote
                                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                                              • 6 Purpose of Government
                                                                                                                                                                                                                              • Structure of Constitution (2)
                                                                                                                                                                                                                              • Structure of Constitution (3)
                                                                                                                                                                                                                              • Principles of Constitution
                                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                                              • Slide 60
                                                                                                                                                                                                                              • Check for Understanding Six Principles
                                                                                                                                                                                                                              • Question 1
                                                                                                                                                                                                                              • Question 2
                                                                                                                                                                                                                              • Question 3
                                                                                                                                                                                                                              • Question 4
                                                                                                                                                                                                                              • Question 5
                                                                                                                                                                                                                              • Question 6
                                                                                                                                                                                                                              • Question 7
                                                                                                                                                                                                                              • Question 8
                                                                                                                                                                                                                              • Groups
                                                                                                                                                                                                                              • Separation of Powers
                                                                                                                                                                                                                              • Video
                                                                                                                                                                                                                              • Checks and Balances
                                                                                                                                                                                                                              • Slide 74
                                                                                                                                                                                                                              • Checks and balances
                                                                                                                                                                                                                              • Basic Principles
                                                                                                                                                                                                                              • Self- Worth
                                                                                                                                                                                                                              • Equality
                                                                                                                                                                                                                              • Compromise
                                                                                                                                                                                                                              • Individual Freedom
                                                                                                                                                                                                                              • Write your ownhellip
                                                                                                                                                                                                                              • Slide 82
                                                                                                                                                                                                                              • TED Talk
                                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                                              • What is Economics
                                                                                                                                                                                                                              • Economics ishellip
                                                                                                                                                                                                                              • Back to our assumptionshellip
                                                                                                                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                              • For the videohellip
                                                                                                                                                                                                                              • Slide 90
                                                                                                                                                                                                                              • Post Videohellip
                                                                                                                                                                                                                              • Advertisement
                                                                                                                                                                                                                              • Political Cartoon Analysis
                                                                                                                                                                                                                              • Factors of Production
                                                                                                                                                                                                                              • TASK
                                                                                                                                                                                                                              • The price ofhellip
                                                                                                                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                              • 1 What to produce
                                                                                                                                                                                                                              • 2 How to produce it
                                                                                                                                                                                                                              • 3 For whom to produce it
                                                                                                                                                                                                                              • Application Activity
                                                                                                                                                                                                                              • EQs
                                                                                                                                                                                                                              • Objectives amp Essential Questions
                                                                                                                                                                                                                              • Group Activity Budget Activity
                                                                                                                                                                                                                              • Slide 105
                                                                                                                                                                                                                              • How do we satisfy our economic wants
                                                                                                                                                                                                                              • How do we make goods amp services
                                                                                                                                                                                                                              • Economic Interdependence
                                                                                                                                                                                                                              • Slide 109
                                                                                                                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                              • Exampleshellip
                                                                                                                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                              • Opportunity Cost
                                                                                                                                                                                                                              • What else influences your choices
                                                                                                                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                                                                                                                              • ObjectivesEssential Questions
                                                                                                                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                              • Production Possibilities Frontier
                                                                                                                                                                                                                              • PPF Assumptions
                                                                                                                                                                                                                              • Slide 121
                                                                                                                                                                                                                              • Production Possibilities Curve
                                                                                                                                                                                                                              • The Choices Nations Make
                                                                                                                                                                                                                              • Economic Growth
                                                                                                                                                                                                                              • The Classic Guns and Butter example
                                                                                                                                                                                                                              • Productivity
                                                                                                                                                                                                                              • Locations on a PPF
                                                                                                                                                                                                                              • Slide 128
                                                                                                                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                              • Economic Systems
                                                                                                                                                                                                                              • Jigsaw activity
                                                                                                                                                                                                                              • Slide 132
                                                                                                                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                              • Review of Economic Systems
                                                                                                                                                                                                                              • Slide 135
                                                                                                                                                                                                                              • What are the most important goals of each economic system
                                                                                                                                                                                                                              • Which economic system does the US use
                                                                                                                                                                                                                              • The American Economic System
                                                                                                                                                                                                                              • The US mixed economy
                                                                                                                                                                                                                              • Slide 140
                                                                                                                                                                                                                              • Think backhellip
                                                                                                                                                                                                                              • US Economic System Characteristics
                                                                                                                                                                                                                              • Slide 143
                                                                                                                                                                                                                              • Understanding how all parts fit together
                                                                                                                                                                                                                              • Marriage Vows
                                                                                                                                                                                                                              • Do you remember
                                                                                                                                                                                                                              • Slide 147

                                                                                                                                                                                                                                What else influences your choices

                                                                                                                                                                                                                                bullPeople make decisions based on their marginal utility or the extra satisfaction they gain from one additional unit of a goodservice

                                                                                                                                                                                                                                bullLaw of Diminishing Marginal Utility says that as we get or do more of something the pleasure we derive from it tends to decrease and so does our willingness to buy it or do it

                                                                                                                                                                                                                                FinallyhellipWhy it Matters

                                                                                                                                                                                                                                Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                                better decision-maker

                                                                                                                                                                                                                                Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                                You always have to give something uphelliprdquo

                                                                                                                                                                                                                                ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                                decisions

                                                                                                                                                                                                                                Visualizing the Relationshiphellip

                                                                                                                                                                                                                                Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                                Scarcity

                                                                                                                                                                                                                                Trade-offs (choices)

                                                                                                                                                                                                                                Opportunity Costs

                                                                                                                                                                                                                                ObjectivesEssential Questions

                                                                                                                                                                                                                                bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                                the three different types of economies

                                                                                                                                                                                                                                bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                                How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                                Making Choices

                                                                                                                                                                                                                                Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                                Production Possibilities Frontier

                                                                                                                                                                                                                                bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                                PPF Assumptions

                                                                                                                                                                                                                                bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                                Production Possibilities Curve

                                                                                                                                                                                                                                CD

                                                                                                                                                                                                                                E

                                                                                                                                                                                                                                OU

                                                                                                                                                                                                                                TP

                                                                                                                                                                                                                                UT

                                                                                                                                                                                                                                OF

                                                                                                                                                                                                                                CO

                                                                                                                                                                                                                                NS

                                                                                                                                                                                                                                UM

                                                                                                                                                                                                                                ER

                                                                                                                                                                                                                                GO

                                                                                                                                                                                                                                OD

                                                                                                                                                                                                                                S

                                                                                                                                                                                                                                (un

                                                                                                                                                                                                                                its

                                                                                                                                                                                                                                per

                                                                                                                                                                                                                                yea

                                                                                                                                                                                                                                r)

                                                                                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                A

                                                                                                                                                                                                                                BO

                                                                                                                                                                                                                                XF

                                                                                                                                                                                                                                G

                                                                                                                                                                                                                                Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                                The Choices Nations Make

                                                                                                                                                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                                bullProduce military goods or consumer goods

                                                                                                                                                                                                                                Economic Growth

                                                                                                                                                                                                                                2000 production possibilities

                                                                                                                                                                                                                                1900 production possibilities

                                                                                                                                                                                                                                OU

                                                                                                                                                                                                                                TP

                                                                                                                                                                                                                                UT

                                                                                                                                                                                                                                OF

                                                                                                                                                                                                                                CO

                                                                                                                                                                                                                                NS

                                                                                                                                                                                                                                UM

                                                                                                                                                                                                                                ER

                                                                                                                                                                                                                                GO

                                                                                                                                                                                                                                OD

                                                                                                                                                                                                                                S(u

                                                                                                                                                                                                                                nits

                                                                                                                                                                                                                                per

                                                                                                                                                                                                                                yea

                                                                                                                                                                                                                                r)

                                                                                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                The Classic Guns and Butter example

                                                                                                                                                                                                                                Guns

                                                                                                                                                                                                                                Butter

                                                                                                                                                                                                                                10000 20000 30000 40000 50000

                                                                                                                                                                                                                                1000009500085000

                                                                                                                                                                                                                                70000

                                                                                                                                                                                                                                5000040000

                                                                                                                                                                                                                                BA

                                                                                                                                                                                                                                C

                                                                                                                                                                                                                                D

                                                                                                                                                                                                                                E

                                                                                                                                                                                                                                F

                                                                                                                                                                                                                                At point A all resources are used for butter

                                                                                                                                                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                At point F all resources are used for Guns

                                                                                                                                                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                choices are

                                                                                                                                                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                Locations on a PPF

                                                                                                                                                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                Food

                                                                                                                                                                                                                                Computer

                                                                                                                                                                                                                                4

                                                                                                                                                                                                                                3

                                                                                                                                                                                                                                2

                                                                                                                                                                                                                                1

                                                                                                                                                                                                                                1 2 3 4

                                                                                                                                                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                Unit

                                                                                                                                                                                                                                Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                additional computers

                                                                                                                                                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                Principle of Increasing Costs

                                                                                                                                                                                                                                As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                Economic Systems

                                                                                                                                                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                Jigsaw activity

                                                                                                                                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                bull Economic Freedom

                                                                                                                                                                                                                                bull Economic Efficiency

                                                                                                                                                                                                                                bull Economic Equity

                                                                                                                                                                                                                                bull Economic Security

                                                                                                                                                                                                                                Economic Stability

                                                                                                                                                                                                                                Economic Growth

                                                                                                                                                                                                                                Review of Economic Systems

                                                                                                                                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                What are the most important goals of each economic system

                                                                                                                                                                                                                                bullTraditionalSecurity and

                                                                                                                                                                                                                                StabilitybullCommand

                                                                                                                                                                                                                                Equity and Security

                                                                                                                                                                                                                                bullMARKETEfficiency and

                                                                                                                                                                                                                                Freedom

                                                                                                                                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                Which economic system does the US use

                                                                                                                                                                                                                                The American Economic System

                                                                                                                                                                                                                                bullWe have a mixed market economy

                                                                                                                                                                                                                                COMMAND MARKET

                                                                                                                                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                Think backhellip

                                                                                                                                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                2 Limited government

                                                                                                                                                                                                                                3 Equal opportunity

                                                                                                                                                                                                                                4 Competition

                                                                                                                                                                                                                                5 Profit motive

                                                                                                                                                                                                                                6 Property Rights

                                                                                                                                                                                                                                7 Binding Contracts

                                                                                                                                                                                                                                Understanding how all parts fit together

                                                                                                                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                Shows interdependence between

                                                                                                                                                                                                                                businesses and individuals

                                                                                                                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                Do you remember

                                                                                                                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                democracy and mixed economy

                                                                                                                                                                                                                                • Foundations of Government and Economics
                                                                                                                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                                                                                                                • Slide 3
                                                                                                                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                                                                                                                • Introductory thoughts hellip
                                                                                                                                                                                                                                • Slide 6
                                                                                                                                                                                                                                • 2 How about to your life
                                                                                                                                                                                                                                • Slide 8
                                                                                                                                                                                                                                • Slide 9
                                                                                                                                                                                                                                • Slide 10
                                                                                                                                                                                                                                • Slide 11
                                                                                                                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                                                                                                                • Individualism
                                                                                                                                                                                                                                • Quote activity
                                                                                                                                                                                                                                • Quote breakdown
                                                                                                                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                • Purpose of Government
                                                                                                                                                                                                                                • Slide 20
                                                                                                                                                                                                                                • 3 Theorists
                                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                                • Origins of American Government A customized government
                                                                                                                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                • With which theory do you agree more Why
                                                                                                                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                • Groups Block 2
                                                                                                                                                                                                                                • Groups Block 4
                                                                                                                                                                                                                                • Balloon Game
                                                                                                                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                • Balloon Game Debriefing
                                                                                                                                                                                                                                • Political Theories
                                                                                                                                                                                                                                • Social Contract
                                                                                                                                                                                                                                • Natural Rights
                                                                                                                                                                                                                                • Democracy
                                                                                                                                                                                                                                • Concepts of Government
                                                                                                                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                                                                                                                • Warm Up 7
                                                                                                                                                                                                                                • And after the Constitution
                                                                                                                                                                                                                                • Activity (2)
                                                                                                                                                                                                                                • Picture Activity
                                                                                                                                                                                                                                • Constitutional Convention
                                                                                                                                                                                                                                • Purpose of the Convention
                                                                                                                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                • Your Task
                                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                                • States agree
                                                                                                                                                                                                                                • Quote
                                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                                • 6 Purpose of Government
                                                                                                                                                                                                                                • Structure of Constitution (2)
                                                                                                                                                                                                                                • Structure of Constitution (3)
                                                                                                                                                                                                                                • Principles of Constitution
                                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                                • Slide 60
                                                                                                                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                                                                                                                • Question 1
                                                                                                                                                                                                                                • Question 2
                                                                                                                                                                                                                                • Question 3
                                                                                                                                                                                                                                • Question 4
                                                                                                                                                                                                                                • Question 5
                                                                                                                                                                                                                                • Question 6
                                                                                                                                                                                                                                • Question 7
                                                                                                                                                                                                                                • Question 8
                                                                                                                                                                                                                                • Groups
                                                                                                                                                                                                                                • Separation of Powers
                                                                                                                                                                                                                                • Video
                                                                                                                                                                                                                                • Checks and Balances
                                                                                                                                                                                                                                • Slide 74
                                                                                                                                                                                                                                • Checks and balances
                                                                                                                                                                                                                                • Basic Principles
                                                                                                                                                                                                                                • Self- Worth
                                                                                                                                                                                                                                • Equality
                                                                                                                                                                                                                                • Compromise
                                                                                                                                                                                                                                • Individual Freedom
                                                                                                                                                                                                                                • Write your ownhellip
                                                                                                                                                                                                                                • Slide 82
                                                                                                                                                                                                                                • TED Talk
                                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                                • What is Economics
                                                                                                                                                                                                                                • Economics ishellip
                                                                                                                                                                                                                                • Back to our assumptionshellip
                                                                                                                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                • For the videohellip
                                                                                                                                                                                                                                • Slide 90
                                                                                                                                                                                                                                • Post Videohellip
                                                                                                                                                                                                                                • Advertisement
                                                                                                                                                                                                                                • Political Cartoon Analysis
                                                                                                                                                                                                                                • Factors of Production
                                                                                                                                                                                                                                • TASK
                                                                                                                                                                                                                                • The price ofhellip
                                                                                                                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                • 1 What to produce
                                                                                                                                                                                                                                • 2 How to produce it
                                                                                                                                                                                                                                • 3 For whom to produce it
                                                                                                                                                                                                                                • Application Activity
                                                                                                                                                                                                                                • EQs
                                                                                                                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                                                                                                                • Group Activity Budget Activity
                                                                                                                                                                                                                                • Slide 105
                                                                                                                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                                                                                                                • How do we make goods amp services
                                                                                                                                                                                                                                • Economic Interdependence
                                                                                                                                                                                                                                • Slide 109
                                                                                                                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                • Exampleshellip
                                                                                                                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                • Opportunity Cost
                                                                                                                                                                                                                                • What else influences your choices
                                                                                                                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                • Production Possibilities Frontier
                                                                                                                                                                                                                                • PPF Assumptions
                                                                                                                                                                                                                                • Slide 121
                                                                                                                                                                                                                                • Production Possibilities Curve
                                                                                                                                                                                                                                • The Choices Nations Make
                                                                                                                                                                                                                                • Economic Growth
                                                                                                                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                                                                                                                • Productivity
                                                                                                                                                                                                                                • Locations on a PPF
                                                                                                                                                                                                                                • Slide 128
                                                                                                                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                • Economic Systems
                                                                                                                                                                                                                                • Jigsaw activity
                                                                                                                                                                                                                                • Slide 132
                                                                                                                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                • Review of Economic Systems
                                                                                                                                                                                                                                • Slide 135
                                                                                                                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                                                                                                                • Which economic system does the US use
                                                                                                                                                                                                                                • The American Economic System
                                                                                                                                                                                                                                • The US mixed economy
                                                                                                                                                                                                                                • Slide 140
                                                                                                                                                                                                                                • Think backhellip
                                                                                                                                                                                                                                • US Economic System Characteristics
                                                                                                                                                                                                                                • Slide 143
                                                                                                                                                                                                                                • Understanding how all parts fit together
                                                                                                                                                                                                                                • Marriage Vows
                                                                                                                                                                                                                                • Do you remember
                                                                                                                                                                                                                                • Slide 147

                                                                                                                                                                                                                                  FinallyhellipWhy it Matters

                                                                                                                                                                                                                                  Understanding the opportunity coststradeoffs of different choices in life makes you a

                                                                                                                                                                                                                                  better decision-maker

                                                                                                                                                                                                                                  Todayrsquos Message ndash ldquoTherersquos No Such Thing As a Free Lunchrdquo

                                                                                                                                                                                                                                  You always have to give something uphelliprdquo

                                                                                                                                                                                                                                  ALL Individuals Businesses amp Societies have to consider tradeoffsopportunity costs when making

                                                                                                                                                                                                                                  decisions

                                                                                                                                                                                                                                  Visualizing the Relationshiphellip

                                                                                                                                                                                                                                  Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                                  Scarcity

                                                                                                                                                                                                                                  Trade-offs (choices)

                                                                                                                                                                                                                                  Opportunity Costs

                                                                                                                                                                                                                                  ObjectivesEssential Questions

                                                                                                                                                                                                                                  bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                                  the three different types of economies

                                                                                                                                                                                                                                  bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                                  How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                                  Making Choices

                                                                                                                                                                                                                                  Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                                  Production Possibilities Frontier

                                                                                                                                                                                                                                  bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                                  PPF Assumptions

                                                                                                                                                                                                                                  bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                                  Production Possibilities Curve

                                                                                                                                                                                                                                  CD

                                                                                                                                                                                                                                  E

                                                                                                                                                                                                                                  OU

                                                                                                                                                                                                                                  TP

                                                                                                                                                                                                                                  UT

                                                                                                                                                                                                                                  OF

                                                                                                                                                                                                                                  CO

                                                                                                                                                                                                                                  NS

                                                                                                                                                                                                                                  UM

                                                                                                                                                                                                                                  ER

                                                                                                                                                                                                                                  GO

                                                                                                                                                                                                                                  OD

                                                                                                                                                                                                                                  S

                                                                                                                                                                                                                                  (un

                                                                                                                                                                                                                                  its

                                                                                                                                                                                                                                  per

                                                                                                                                                                                                                                  yea

                                                                                                                                                                                                                                  r)

                                                                                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                  A

                                                                                                                                                                                                                                  BO

                                                                                                                                                                                                                                  XF

                                                                                                                                                                                                                                  G

                                                                                                                                                                                                                                  Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                                  The Choices Nations Make

                                                                                                                                                                                                                                  bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                                  bullProduce military goods or consumer goods

                                                                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                                                                  2000 production possibilities

                                                                                                                                                                                                                                  1900 production possibilities

                                                                                                                                                                                                                                  OU

                                                                                                                                                                                                                                  TP

                                                                                                                                                                                                                                  UT

                                                                                                                                                                                                                                  OF

                                                                                                                                                                                                                                  CO

                                                                                                                                                                                                                                  NS

                                                                                                                                                                                                                                  UM

                                                                                                                                                                                                                                  ER

                                                                                                                                                                                                                                  GO

                                                                                                                                                                                                                                  OD

                                                                                                                                                                                                                                  S(u

                                                                                                                                                                                                                                  nits

                                                                                                                                                                                                                                  per

                                                                                                                                                                                                                                  yea

                                                                                                                                                                                                                                  r)

                                                                                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                  Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                  The Classic Guns and Butter example

                                                                                                                                                                                                                                  Guns

                                                                                                                                                                                                                                  Butter

                                                                                                                                                                                                                                  10000 20000 30000 40000 50000

                                                                                                                                                                                                                                  1000009500085000

                                                                                                                                                                                                                                  70000

                                                                                                                                                                                                                                  5000040000

                                                                                                                                                                                                                                  BA

                                                                                                                                                                                                                                  C

                                                                                                                                                                                                                                  D

                                                                                                                                                                                                                                  E

                                                                                                                                                                                                                                  F

                                                                                                                                                                                                                                  At point A all resources are used for butter

                                                                                                                                                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                  At point F all resources are used for Guns

                                                                                                                                                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                  choices are

                                                                                                                                                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                  Locations on a PPF

                                                                                                                                                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                  Food

                                                                                                                                                                                                                                  Computer

                                                                                                                                                                                                                                  4

                                                                                                                                                                                                                                  3

                                                                                                                                                                                                                                  2

                                                                                                                                                                                                                                  1

                                                                                                                                                                                                                                  1 2 3 4

                                                                                                                                                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                  Unit

                                                                                                                                                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                  additional computers

                                                                                                                                                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                  Principle of Increasing Costs

                                                                                                                                                                                                                                  As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                  Economic Systems

                                                                                                                                                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                  Jigsaw activity

                                                                                                                                                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                  bull Economic Freedom

                                                                                                                                                                                                                                  bull Economic Efficiency

                                                                                                                                                                                                                                  bull Economic Equity

                                                                                                                                                                                                                                  bull Economic Security

                                                                                                                                                                                                                                  Economic Stability

                                                                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                                                                  Review of Economic Systems

                                                                                                                                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                  What are the most important goals of each economic system

                                                                                                                                                                                                                                  bullTraditionalSecurity and

                                                                                                                                                                                                                                  StabilitybullCommand

                                                                                                                                                                                                                                  Equity and Security

                                                                                                                                                                                                                                  bullMARKETEfficiency and

                                                                                                                                                                                                                                  Freedom

                                                                                                                                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                  Which economic system does the US use

                                                                                                                                                                                                                                  The American Economic System

                                                                                                                                                                                                                                  bullWe have a mixed market economy

                                                                                                                                                                                                                                  COMMAND MARKET

                                                                                                                                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                  Think backhellip

                                                                                                                                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                  2 Limited government

                                                                                                                                                                                                                                  3 Equal opportunity

                                                                                                                                                                                                                                  4 Competition

                                                                                                                                                                                                                                  5 Profit motive

                                                                                                                                                                                                                                  6 Property Rights

                                                                                                                                                                                                                                  7 Binding Contracts

                                                                                                                                                                                                                                  Understanding how all parts fit together

                                                                                                                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                  Shows interdependence between

                                                                                                                                                                                                                                  businesses and individuals

                                                                                                                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                  Do you remember

                                                                                                                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                  democracy and mixed economy

                                                                                                                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                                                                                                                  • Slide 3
                                                                                                                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                                                                                                                  • Slide 6
                                                                                                                                                                                                                                  • 2 How about to your life
                                                                                                                                                                                                                                  • Slide 8
                                                                                                                                                                                                                                  • Slide 9
                                                                                                                                                                                                                                  • Slide 10
                                                                                                                                                                                                                                  • Slide 11
                                                                                                                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                                                                                                                  • Individualism
                                                                                                                                                                                                                                  • Quote activity
                                                                                                                                                                                                                                  • Quote breakdown
                                                                                                                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                  • Purpose of Government
                                                                                                                                                                                                                                  • Slide 20
                                                                                                                                                                                                                                  • 3 Theorists
                                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                  • Groups Block 2
                                                                                                                                                                                                                                  • Groups Block 4
                                                                                                                                                                                                                                  • Balloon Game
                                                                                                                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                                                                                                                  • Political Theories
                                                                                                                                                                                                                                  • Social Contract
                                                                                                                                                                                                                                  • Natural Rights
                                                                                                                                                                                                                                  • Democracy
                                                                                                                                                                                                                                  • Concepts of Government
                                                                                                                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                                                                                                                  • Warm Up 7
                                                                                                                                                                                                                                  • And after the Constitution
                                                                                                                                                                                                                                  • Activity (2)
                                                                                                                                                                                                                                  • Picture Activity
                                                                                                                                                                                                                                  • Constitutional Convention
                                                                                                                                                                                                                                  • Purpose of the Convention
                                                                                                                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                  • Your Task
                                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                                  • States agree
                                                                                                                                                                                                                                  • Quote
                                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                                  • 6 Purpose of Government
                                                                                                                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                                                                                                                  • Principles of Constitution
                                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                                  • Slide 60
                                                                                                                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                                                                                                                  • Question 1
                                                                                                                                                                                                                                  • Question 2
                                                                                                                                                                                                                                  • Question 3
                                                                                                                                                                                                                                  • Question 4
                                                                                                                                                                                                                                  • Question 5
                                                                                                                                                                                                                                  • Question 6
                                                                                                                                                                                                                                  • Question 7
                                                                                                                                                                                                                                  • Question 8
                                                                                                                                                                                                                                  • Groups
                                                                                                                                                                                                                                  • Separation of Powers
                                                                                                                                                                                                                                  • Video
                                                                                                                                                                                                                                  • Checks and Balances
                                                                                                                                                                                                                                  • Slide 74
                                                                                                                                                                                                                                  • Checks and balances
                                                                                                                                                                                                                                  • Basic Principles
                                                                                                                                                                                                                                  • Self- Worth
                                                                                                                                                                                                                                  • Equality
                                                                                                                                                                                                                                  • Compromise
                                                                                                                                                                                                                                  • Individual Freedom
                                                                                                                                                                                                                                  • Write your ownhellip
                                                                                                                                                                                                                                  • Slide 82
                                                                                                                                                                                                                                  • TED Talk
                                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                                  • What is Economics
                                                                                                                                                                                                                                  • Economics ishellip
                                                                                                                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                  • For the videohellip
                                                                                                                                                                                                                                  • Slide 90
                                                                                                                                                                                                                                  • Post Videohellip
                                                                                                                                                                                                                                  • Advertisement
                                                                                                                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                                                                                                                  • Factors of Production
                                                                                                                                                                                                                                  • TASK
                                                                                                                                                                                                                                  • The price ofhellip
                                                                                                                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                  • 1 What to produce
                                                                                                                                                                                                                                  • 2 How to produce it
                                                                                                                                                                                                                                  • 3 For whom to produce it
                                                                                                                                                                                                                                  • Application Activity
                                                                                                                                                                                                                                  • EQs
                                                                                                                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                                                                                                                  • Slide 105
                                                                                                                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                                                                                                                  • How do we make goods amp services
                                                                                                                                                                                                                                  • Economic Interdependence
                                                                                                                                                                                                                                  • Slide 109
                                                                                                                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                  • Exampleshellip
                                                                                                                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                  • Opportunity Cost
                                                                                                                                                                                                                                  • What else influences your choices
                                                                                                                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                                                                                                                  • PPF Assumptions
                                                                                                                                                                                                                                  • Slide 121
                                                                                                                                                                                                                                  • Production Possibilities Curve
                                                                                                                                                                                                                                  • The Choices Nations Make
                                                                                                                                                                                                                                  • Economic Growth
                                                                                                                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                                                                                                                  • Productivity
                                                                                                                                                                                                                                  • Locations on a PPF
                                                                                                                                                                                                                                  • Slide 128
                                                                                                                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                  • Economic Systems
                                                                                                                                                                                                                                  • Jigsaw activity
                                                                                                                                                                                                                                  • Slide 132
                                                                                                                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                  • Review of Economic Systems
                                                                                                                                                                                                                                  • Slide 135
                                                                                                                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                                                                                                                  • Which economic system does the US use
                                                                                                                                                                                                                                  • The American Economic System
                                                                                                                                                                                                                                  • The US mixed economy
                                                                                                                                                                                                                                  • Slide 140
                                                                                                                                                                                                                                  • Think backhellip
                                                                                                                                                                                                                                  • US Economic System Characteristics
                                                                                                                                                                                                                                  • Slide 143
                                                                                                                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                                                                                                                  • Marriage Vows
                                                                                                                                                                                                                                  • Do you remember
                                                                                                                                                                                                                                  • Slide 147

                                                                                                                                                                                                                                    Visualizing the Relationshiphellip

                                                                                                                                                                                                                                    Limited Resources amp Unlimited Wants

                                                                                                                                                                                                                                    Scarcity

                                                                                                                                                                                                                                    Trade-offs (choices)

                                                                                                                                                                                                                                    Opportunity Costs

                                                                                                                                                                                                                                    ObjectivesEssential Questions

                                                                                                                                                                                                                                    bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                                    the three different types of economies

                                                                                                                                                                                                                                    bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                                    How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                                    Making Choices

                                                                                                                                                                                                                                    Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                                    Production Possibilities Frontier

                                                                                                                                                                                                                                    bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                                    PPF Assumptions

                                                                                                                                                                                                                                    bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                                    Production Possibilities Curve

                                                                                                                                                                                                                                    CD

                                                                                                                                                                                                                                    E

                                                                                                                                                                                                                                    OU

                                                                                                                                                                                                                                    TP

                                                                                                                                                                                                                                    UT

                                                                                                                                                                                                                                    OF

                                                                                                                                                                                                                                    CO

                                                                                                                                                                                                                                    NS

                                                                                                                                                                                                                                    UM

                                                                                                                                                                                                                                    ER

                                                                                                                                                                                                                                    GO

                                                                                                                                                                                                                                    OD

                                                                                                                                                                                                                                    S

                                                                                                                                                                                                                                    (un

                                                                                                                                                                                                                                    its

                                                                                                                                                                                                                                    per

                                                                                                                                                                                                                                    yea

                                                                                                                                                                                                                                    r)

                                                                                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                    A

                                                                                                                                                                                                                                    BO

                                                                                                                                                                                                                                    XF

                                                                                                                                                                                                                                    G

                                                                                                                                                                                                                                    Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                                    The Choices Nations Make

                                                                                                                                                                                                                                    bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                                    bullProduce military goods or consumer goods

                                                                                                                                                                                                                                    Economic Growth

                                                                                                                                                                                                                                    2000 production possibilities

                                                                                                                                                                                                                                    1900 production possibilities

                                                                                                                                                                                                                                    OU

                                                                                                                                                                                                                                    TP

                                                                                                                                                                                                                                    UT

                                                                                                                                                                                                                                    OF

                                                                                                                                                                                                                                    CO

                                                                                                                                                                                                                                    NS

                                                                                                                                                                                                                                    UM

                                                                                                                                                                                                                                    ER

                                                                                                                                                                                                                                    GO

                                                                                                                                                                                                                                    OD

                                                                                                                                                                                                                                    S(u

                                                                                                                                                                                                                                    nits

                                                                                                                                                                                                                                    per

                                                                                                                                                                                                                                    yea

                                                                                                                                                                                                                                    r)

                                                                                                                                                                                                                                    OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                    Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                    The Classic Guns and Butter example

                                                                                                                                                                                                                                    Guns

                                                                                                                                                                                                                                    Butter

                                                                                                                                                                                                                                    10000 20000 30000 40000 50000

                                                                                                                                                                                                                                    1000009500085000

                                                                                                                                                                                                                                    70000

                                                                                                                                                                                                                                    5000040000

                                                                                                                                                                                                                                    BA

                                                                                                                                                                                                                                    C

                                                                                                                                                                                                                                    D

                                                                                                                                                                                                                                    E

                                                                                                                                                                                                                                    F

                                                                                                                                                                                                                                    At point A all resources are used for butter

                                                                                                                                                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                    At point F all resources are used for Guns

                                                                                                                                                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                    choices are

                                                                                                                                                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                    Locations on a PPF

                                                                                                                                                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                    Food

                                                                                                                                                                                                                                    Computer

                                                                                                                                                                                                                                    4

                                                                                                                                                                                                                                    3

                                                                                                                                                                                                                                    2

                                                                                                                                                                                                                                    1

                                                                                                                                                                                                                                    1 2 3 4

                                                                                                                                                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                    Unit

                                                                                                                                                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                    additional computers

                                                                                                                                                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                    Principle of Increasing Costs

                                                                                                                                                                                                                                    As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                    Economic Systems

                                                                                                                                                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                    Jigsaw activity

                                                                                                                                                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                    bull Economic Freedom

                                                                                                                                                                                                                                    bull Economic Efficiency

                                                                                                                                                                                                                                    bull Economic Equity

                                                                                                                                                                                                                                    bull Economic Security

                                                                                                                                                                                                                                    Economic Stability

                                                                                                                                                                                                                                    Economic Growth

                                                                                                                                                                                                                                    Review of Economic Systems

                                                                                                                                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                    What are the most important goals of each economic system

                                                                                                                                                                                                                                    bullTraditionalSecurity and

                                                                                                                                                                                                                                    StabilitybullCommand

                                                                                                                                                                                                                                    Equity and Security

                                                                                                                                                                                                                                    bullMARKETEfficiency and

                                                                                                                                                                                                                                    Freedom

                                                                                                                                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                    Which economic system does the US use

                                                                                                                                                                                                                                    The American Economic System

                                                                                                                                                                                                                                    bullWe have a mixed market economy

                                                                                                                                                                                                                                    COMMAND MARKET

                                                                                                                                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                    Think backhellip

                                                                                                                                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                    2 Limited government

                                                                                                                                                                                                                                    3 Equal opportunity

                                                                                                                                                                                                                                    4 Competition

                                                                                                                                                                                                                                    5 Profit motive

                                                                                                                                                                                                                                    6 Property Rights

                                                                                                                                                                                                                                    7 Binding Contracts

                                                                                                                                                                                                                                    Understanding how all parts fit together

                                                                                                                                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                    Shows interdependence between

                                                                                                                                                                                                                                    businesses and individuals

                                                                                                                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                    Do you remember

                                                                                                                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                    democracy and mixed economy

                                                                                                                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                                                                                                                    • Slide 3
                                                                                                                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                                                                                                                    • Slide 6
                                                                                                                                                                                                                                    • 2 How about to your life
                                                                                                                                                                                                                                    • Slide 8
                                                                                                                                                                                                                                    • Slide 9
                                                                                                                                                                                                                                    • Slide 10
                                                                                                                                                                                                                                    • Slide 11
                                                                                                                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                                                                                                                    • Individualism
                                                                                                                                                                                                                                    • Quote activity
                                                                                                                                                                                                                                    • Quote breakdown
                                                                                                                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                    • Purpose of Government
                                                                                                                                                                                                                                    • Slide 20
                                                                                                                                                                                                                                    • 3 Theorists
                                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                    • Groups Block 2
                                                                                                                                                                                                                                    • Groups Block 4
                                                                                                                                                                                                                                    • Balloon Game
                                                                                                                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                                                                                                                    • Political Theories
                                                                                                                                                                                                                                    • Social Contract
                                                                                                                                                                                                                                    • Natural Rights
                                                                                                                                                                                                                                    • Democracy
                                                                                                                                                                                                                                    • Concepts of Government
                                                                                                                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                                                                                                                    • Warm Up 7
                                                                                                                                                                                                                                    • And after the Constitution
                                                                                                                                                                                                                                    • Activity (2)
                                                                                                                                                                                                                                    • Picture Activity
                                                                                                                                                                                                                                    • Constitutional Convention
                                                                                                                                                                                                                                    • Purpose of the Convention
                                                                                                                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                    • Your Task
                                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                                    • States agree
                                                                                                                                                                                                                                    • Quote
                                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                                    • 6 Purpose of Government
                                                                                                                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                                                                                                                    • Principles of Constitution
                                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                                    • Slide 60
                                                                                                                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                                                                                                                    • Question 1
                                                                                                                                                                                                                                    • Question 2
                                                                                                                                                                                                                                    • Question 3
                                                                                                                                                                                                                                    • Question 4
                                                                                                                                                                                                                                    • Question 5
                                                                                                                                                                                                                                    • Question 6
                                                                                                                                                                                                                                    • Question 7
                                                                                                                                                                                                                                    • Question 8
                                                                                                                                                                                                                                    • Groups
                                                                                                                                                                                                                                    • Separation of Powers
                                                                                                                                                                                                                                    • Video
                                                                                                                                                                                                                                    • Checks and Balances
                                                                                                                                                                                                                                    • Slide 74
                                                                                                                                                                                                                                    • Checks and balances
                                                                                                                                                                                                                                    • Basic Principles
                                                                                                                                                                                                                                    • Self- Worth
                                                                                                                                                                                                                                    • Equality
                                                                                                                                                                                                                                    • Compromise
                                                                                                                                                                                                                                    • Individual Freedom
                                                                                                                                                                                                                                    • Write your ownhellip
                                                                                                                                                                                                                                    • Slide 82
                                                                                                                                                                                                                                    • TED Talk
                                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                                    • What is Economics
                                                                                                                                                                                                                                    • Economics ishellip
                                                                                                                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                    • For the videohellip
                                                                                                                                                                                                                                    • Slide 90
                                                                                                                                                                                                                                    • Post Videohellip
                                                                                                                                                                                                                                    • Advertisement
                                                                                                                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                                                                                                                    • Factors of Production
                                                                                                                                                                                                                                    • TASK
                                                                                                                                                                                                                                    • The price ofhellip
                                                                                                                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                    • 1 What to produce
                                                                                                                                                                                                                                    • 2 How to produce it
                                                                                                                                                                                                                                    • 3 For whom to produce it
                                                                                                                                                                                                                                    • Application Activity
                                                                                                                                                                                                                                    • EQs
                                                                                                                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                                                                                                                    • Slide 105
                                                                                                                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                                                                                                                    • How do we make goods amp services
                                                                                                                                                                                                                                    • Economic Interdependence
                                                                                                                                                                                                                                    • Slide 109
                                                                                                                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                    • Exampleshellip
                                                                                                                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                    • Opportunity Cost
                                                                                                                                                                                                                                    • What else influences your choices
                                                                                                                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                                                                                                                    • PPF Assumptions
                                                                                                                                                                                                                                    • Slide 121
                                                                                                                                                                                                                                    • Production Possibilities Curve
                                                                                                                                                                                                                                    • The Choices Nations Make
                                                                                                                                                                                                                                    • Economic Growth
                                                                                                                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                                                                                                                    • Productivity
                                                                                                                                                                                                                                    • Locations on a PPF
                                                                                                                                                                                                                                    • Slide 128
                                                                                                                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                    • Economic Systems
                                                                                                                                                                                                                                    • Jigsaw activity
                                                                                                                                                                                                                                    • Slide 132
                                                                                                                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                    • Review of Economic Systems
                                                                                                                                                                                                                                    • Slide 135
                                                                                                                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                                                                                                                    • Which economic system does the US use
                                                                                                                                                                                                                                    • The American Economic System
                                                                                                                                                                                                                                    • The US mixed economy
                                                                                                                                                                                                                                    • Slide 140
                                                                                                                                                                                                                                    • Think backhellip
                                                                                                                                                                                                                                    • US Economic System Characteristics
                                                                                                                                                                                                                                    • Slide 143
                                                                                                                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                                                                                                                    • Marriage Vows
                                                                                                                                                                                                                                    • Do you remember
                                                                                                                                                                                                                                    • Slide 147

                                                                                                                                                                                                                                      ObjectivesEssential Questions

                                                                                                                                                                                                                                      bullObjectivebullI will be able to understand (and teach)

                                                                                                                                                                                                                                      the three different types of economies

                                                                                                                                                                                                                                      bullEssential Question How do the different types of economies work

                                                                                                                                                                                                                                      How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                                      Making Choices

                                                                                                                                                                                                                                      Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                                      Production Possibilities Frontier

                                                                                                                                                                                                                                      bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                                      PPF Assumptions

                                                                                                                                                                                                                                      bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                                      Production Possibilities Curve

                                                                                                                                                                                                                                      CD

                                                                                                                                                                                                                                      E

                                                                                                                                                                                                                                      OU

                                                                                                                                                                                                                                      TP

                                                                                                                                                                                                                                      UT

                                                                                                                                                                                                                                      OF

                                                                                                                                                                                                                                      CO

                                                                                                                                                                                                                                      NS

                                                                                                                                                                                                                                      UM

                                                                                                                                                                                                                                      ER

                                                                                                                                                                                                                                      GO

                                                                                                                                                                                                                                      OD

                                                                                                                                                                                                                                      S

                                                                                                                                                                                                                                      (un

                                                                                                                                                                                                                                      its

                                                                                                                                                                                                                                      per

                                                                                                                                                                                                                                      yea

                                                                                                                                                                                                                                      r)

                                                                                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                      A

                                                                                                                                                                                                                                      BO

                                                                                                                                                                                                                                      XF

                                                                                                                                                                                                                                      G

                                                                                                                                                                                                                                      Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                                      The Choices Nations Make

                                                                                                                                                                                                                                      bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                                      bullProduce military goods or consumer goods

                                                                                                                                                                                                                                      Economic Growth

                                                                                                                                                                                                                                      2000 production possibilities

                                                                                                                                                                                                                                      1900 production possibilities

                                                                                                                                                                                                                                      OU

                                                                                                                                                                                                                                      TP

                                                                                                                                                                                                                                      UT

                                                                                                                                                                                                                                      OF

                                                                                                                                                                                                                                      CO

                                                                                                                                                                                                                                      NS

                                                                                                                                                                                                                                      UM

                                                                                                                                                                                                                                      ER

                                                                                                                                                                                                                                      GO

                                                                                                                                                                                                                                      OD

                                                                                                                                                                                                                                      S(u

                                                                                                                                                                                                                                      nits

                                                                                                                                                                                                                                      per

                                                                                                                                                                                                                                      yea

                                                                                                                                                                                                                                      r)

                                                                                                                                                                                                                                      OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                      Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                      The Classic Guns and Butter example

                                                                                                                                                                                                                                      Guns

                                                                                                                                                                                                                                      Butter

                                                                                                                                                                                                                                      10000 20000 30000 40000 50000

                                                                                                                                                                                                                                      1000009500085000

                                                                                                                                                                                                                                      70000

                                                                                                                                                                                                                                      5000040000

                                                                                                                                                                                                                                      BA

                                                                                                                                                                                                                                      C

                                                                                                                                                                                                                                      D

                                                                                                                                                                                                                                      E

                                                                                                                                                                                                                                      F

                                                                                                                                                                                                                                      At point A all resources are used for butter

                                                                                                                                                                                                                                      Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                      At point F all resources are used for Guns

                                                                                                                                                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                      choices are

                                                                                                                                                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                      Locations on a PPF

                                                                                                                                                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                      Food

                                                                                                                                                                                                                                      Computer

                                                                                                                                                                                                                                      4

                                                                                                                                                                                                                                      3

                                                                                                                                                                                                                                      2

                                                                                                                                                                                                                                      1

                                                                                                                                                                                                                                      1 2 3 4

                                                                                                                                                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                      Unit

                                                                                                                                                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                      additional computers

                                                                                                                                                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                      Principle of Increasing Costs

                                                                                                                                                                                                                                      As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                      Economic Systems

                                                                                                                                                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                      Jigsaw activity

                                                                                                                                                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                      bull Economic Freedom

                                                                                                                                                                                                                                      bull Economic Efficiency

                                                                                                                                                                                                                                      bull Economic Equity

                                                                                                                                                                                                                                      bull Economic Security

                                                                                                                                                                                                                                      Economic Stability

                                                                                                                                                                                                                                      Economic Growth

                                                                                                                                                                                                                                      Review of Economic Systems

                                                                                                                                                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                      What are the most important goals of each economic system

                                                                                                                                                                                                                                      bullTraditionalSecurity and

                                                                                                                                                                                                                                      StabilitybullCommand

                                                                                                                                                                                                                                      Equity and Security

                                                                                                                                                                                                                                      bullMARKETEfficiency and

                                                                                                                                                                                                                                      Freedom

                                                                                                                                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                      Which economic system does the US use

                                                                                                                                                                                                                                      The American Economic System

                                                                                                                                                                                                                                      bullWe have a mixed market economy

                                                                                                                                                                                                                                      COMMAND MARKET

                                                                                                                                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                      Think backhellip

                                                                                                                                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                      2 Limited government

                                                                                                                                                                                                                                      3 Equal opportunity

                                                                                                                                                                                                                                      4 Competition

                                                                                                                                                                                                                                      5 Profit motive

                                                                                                                                                                                                                                      6 Property Rights

                                                                                                                                                                                                                                      7 Binding Contracts

                                                                                                                                                                                                                                      Understanding how all parts fit together

                                                                                                                                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                      Shows interdependence between

                                                                                                                                                                                                                                      businesses and individuals

                                                                                                                                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                      Do you remember

                                                                                                                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                      democracy and mixed economy

                                                                                                                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                                                                                                                      • Slide 3
                                                                                                                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                                                                                                                      • Slide 6
                                                                                                                                                                                                                                      • 2 How about to your life
                                                                                                                                                                                                                                      • Slide 8
                                                                                                                                                                                                                                      • Slide 9
                                                                                                                                                                                                                                      • Slide 10
                                                                                                                                                                                                                                      • Slide 11
                                                                                                                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                                                                                                                      • Individualism
                                                                                                                                                                                                                                      • Quote activity
                                                                                                                                                                                                                                      • Quote breakdown
                                                                                                                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                      • Purpose of Government
                                                                                                                                                                                                                                      • Slide 20
                                                                                                                                                                                                                                      • 3 Theorists
                                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                      • Groups Block 2
                                                                                                                                                                                                                                      • Groups Block 4
                                                                                                                                                                                                                                      • Balloon Game
                                                                                                                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                                                                                                                      • Political Theories
                                                                                                                                                                                                                                      • Social Contract
                                                                                                                                                                                                                                      • Natural Rights
                                                                                                                                                                                                                                      • Democracy
                                                                                                                                                                                                                                      • Concepts of Government
                                                                                                                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                                                                                                                      • Warm Up 7
                                                                                                                                                                                                                                      • And after the Constitution
                                                                                                                                                                                                                                      • Activity (2)
                                                                                                                                                                                                                                      • Picture Activity
                                                                                                                                                                                                                                      • Constitutional Convention
                                                                                                                                                                                                                                      • Purpose of the Convention
                                                                                                                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                      • Your Task
                                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                                      • States agree
                                                                                                                                                                                                                                      • Quote
                                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                                      • 6 Purpose of Government
                                                                                                                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                                                                                                                      • Principles of Constitution
                                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                                      • Slide 60
                                                                                                                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                                                                                                                      • Question 1
                                                                                                                                                                                                                                      • Question 2
                                                                                                                                                                                                                                      • Question 3
                                                                                                                                                                                                                                      • Question 4
                                                                                                                                                                                                                                      • Question 5
                                                                                                                                                                                                                                      • Question 6
                                                                                                                                                                                                                                      • Question 7
                                                                                                                                                                                                                                      • Question 8
                                                                                                                                                                                                                                      • Groups
                                                                                                                                                                                                                                      • Separation of Powers
                                                                                                                                                                                                                                      • Video
                                                                                                                                                                                                                                      • Checks and Balances
                                                                                                                                                                                                                                      • Slide 74
                                                                                                                                                                                                                                      • Checks and balances
                                                                                                                                                                                                                                      • Basic Principles
                                                                                                                                                                                                                                      • Self- Worth
                                                                                                                                                                                                                                      • Equality
                                                                                                                                                                                                                                      • Compromise
                                                                                                                                                                                                                                      • Individual Freedom
                                                                                                                                                                                                                                      • Write your ownhellip
                                                                                                                                                                                                                                      • Slide 82
                                                                                                                                                                                                                                      • TED Talk
                                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                                      • What is Economics
                                                                                                                                                                                                                                      • Economics ishellip
                                                                                                                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                      • For the videohellip
                                                                                                                                                                                                                                      • Slide 90
                                                                                                                                                                                                                                      • Post Videohellip
                                                                                                                                                                                                                                      • Advertisement
                                                                                                                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                                                                                                                      • Factors of Production
                                                                                                                                                                                                                                      • TASK
                                                                                                                                                                                                                                      • The price ofhellip
                                                                                                                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                      • 1 What to produce
                                                                                                                                                                                                                                      • 2 How to produce it
                                                                                                                                                                                                                                      • 3 For whom to produce it
                                                                                                                                                                                                                                      • Application Activity
                                                                                                                                                                                                                                      • EQs
                                                                                                                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                                                                                                                      • Slide 105
                                                                                                                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                                                                                                                      • How do we make goods amp services
                                                                                                                                                                                                                                      • Economic Interdependence
                                                                                                                                                                                                                                      • Slide 109
                                                                                                                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                      • Exampleshellip
                                                                                                                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                      • Opportunity Cost
                                                                                                                                                                                                                                      • What else influences your choices
                                                                                                                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                                                                                                                      • PPF Assumptions
                                                                                                                                                                                                                                      • Slide 121
                                                                                                                                                                                                                                      • Production Possibilities Curve
                                                                                                                                                                                                                                      • The Choices Nations Make
                                                                                                                                                                                                                                      • Economic Growth
                                                                                                                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                                                                                                                      • Productivity
                                                                                                                                                                                                                                      • Locations on a PPF
                                                                                                                                                                                                                                      • Slide 128
                                                                                                                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                      • Economic Systems
                                                                                                                                                                                                                                      • Jigsaw activity
                                                                                                                                                                                                                                      • Slide 132
                                                                                                                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                      • Review of Economic Systems
                                                                                                                                                                                                                                      • Slide 135
                                                                                                                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                                                                                                                      • Which economic system does the US use
                                                                                                                                                                                                                                      • The American Economic System
                                                                                                                                                                                                                                      • The US mixed economy
                                                                                                                                                                                                                                      • Slide 140
                                                                                                                                                                                                                                      • Think backhellip
                                                                                                                                                                                                                                      • US Economic System Characteristics
                                                                                                                                                                                                                                      • Slide 143
                                                                                                                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                                                                                                                      • Marriage Vows
                                                                                                                                                                                                                                      • Do you remember
                                                                                                                                                                                                                                      • Slide 147

                                                                                                                                                                                                                                        How Can We Measure What We Gain and Lose When

                                                                                                                                                                                                                                        Making Choices

                                                                                                                                                                                                                                        Answer With a Production Possibilities Frontier

                                                                                                                                                                                                                                        Production Possibilities Frontier

                                                                                                                                                                                                                                        bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                                        PPF Assumptions

                                                                                                                                                                                                                                        bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                                        Production Possibilities Curve

                                                                                                                                                                                                                                        CD

                                                                                                                                                                                                                                        E

                                                                                                                                                                                                                                        OU

                                                                                                                                                                                                                                        TP

                                                                                                                                                                                                                                        UT

                                                                                                                                                                                                                                        OF

                                                                                                                                                                                                                                        CO

                                                                                                                                                                                                                                        NS

                                                                                                                                                                                                                                        UM

                                                                                                                                                                                                                                        ER

                                                                                                                                                                                                                                        GO

                                                                                                                                                                                                                                        OD

                                                                                                                                                                                                                                        S

                                                                                                                                                                                                                                        (un

                                                                                                                                                                                                                                        its

                                                                                                                                                                                                                                        per

                                                                                                                                                                                                                                        yea

                                                                                                                                                                                                                                        r)

                                                                                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                        A

                                                                                                                                                                                                                                        BO

                                                                                                                                                                                                                                        XF

                                                                                                                                                                                                                                        G

                                                                                                                                                                                                                                        Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                                        The Choices Nations Make

                                                                                                                                                                                                                                        bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                                        bullProduce military goods or consumer goods

                                                                                                                                                                                                                                        Economic Growth

                                                                                                                                                                                                                                        2000 production possibilities

                                                                                                                                                                                                                                        1900 production possibilities

                                                                                                                                                                                                                                        OU

                                                                                                                                                                                                                                        TP

                                                                                                                                                                                                                                        UT

                                                                                                                                                                                                                                        OF

                                                                                                                                                                                                                                        CO

                                                                                                                                                                                                                                        NS

                                                                                                                                                                                                                                        UM

                                                                                                                                                                                                                                        ER

                                                                                                                                                                                                                                        GO

                                                                                                                                                                                                                                        OD

                                                                                                                                                                                                                                        S(u

                                                                                                                                                                                                                                        nits

                                                                                                                                                                                                                                        per

                                                                                                                                                                                                                                        yea

                                                                                                                                                                                                                                        r)

                                                                                                                                                                                                                                        OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                        Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                        The Classic Guns and Butter example

                                                                                                                                                                                                                                        Guns

                                                                                                                                                                                                                                        Butter

                                                                                                                                                                                                                                        10000 20000 30000 40000 50000

                                                                                                                                                                                                                                        1000009500085000

                                                                                                                                                                                                                                        70000

                                                                                                                                                                                                                                        5000040000

                                                                                                                                                                                                                                        BA

                                                                                                                                                                                                                                        C

                                                                                                                                                                                                                                        D

                                                                                                                                                                                                                                        E

                                                                                                                                                                                                                                        F

                                                                                                                                                                                                                                        At point A all resources are used for butter

                                                                                                                                                                                                                                        Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                        At point F all resources are used for Guns

                                                                                                                                                                                                                                        Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                        choices are

                                                                                                                                                                                                                                        bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                        bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                        Locations on a PPF

                                                                                                                                                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                        Food

                                                                                                                                                                                                                                        Computer

                                                                                                                                                                                                                                        4

                                                                                                                                                                                                                                        3

                                                                                                                                                                                                                                        2

                                                                                                                                                                                                                                        1

                                                                                                                                                                                                                                        1 2 3 4

                                                                                                                                                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                        Unit

                                                                                                                                                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                        additional computers

                                                                                                                                                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                        Principle of Increasing Costs

                                                                                                                                                                                                                                        As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                        Economic Systems

                                                                                                                                                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                        Jigsaw activity

                                                                                                                                                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                        bull Economic Freedom

                                                                                                                                                                                                                                        bull Economic Efficiency

                                                                                                                                                                                                                                        bull Economic Equity

                                                                                                                                                                                                                                        bull Economic Security

                                                                                                                                                                                                                                        Economic Stability

                                                                                                                                                                                                                                        Economic Growth

                                                                                                                                                                                                                                        Review of Economic Systems

                                                                                                                                                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                        What are the most important goals of each economic system

                                                                                                                                                                                                                                        bullTraditionalSecurity and

                                                                                                                                                                                                                                        StabilitybullCommand

                                                                                                                                                                                                                                        Equity and Security

                                                                                                                                                                                                                                        bullMARKETEfficiency and

                                                                                                                                                                                                                                        Freedom

                                                                                                                                                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                        Which economic system does the US use

                                                                                                                                                                                                                                        The American Economic System

                                                                                                                                                                                                                                        bullWe have a mixed market economy

                                                                                                                                                                                                                                        COMMAND MARKET

                                                                                                                                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                        Think backhellip

                                                                                                                                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                        2 Limited government

                                                                                                                                                                                                                                        3 Equal opportunity

                                                                                                                                                                                                                                        4 Competition

                                                                                                                                                                                                                                        5 Profit motive

                                                                                                                                                                                                                                        6 Property Rights

                                                                                                                                                                                                                                        7 Binding Contracts

                                                                                                                                                                                                                                        Understanding how all parts fit together

                                                                                                                                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                        Shows interdependence between

                                                                                                                                                                                                                                        businesses and individuals

                                                                                                                                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                        Do you remember

                                                                                                                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                        democracy and mixed economy

                                                                                                                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                                                                                                                        • Slide 3
                                                                                                                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                                                                                                                        • Slide 6
                                                                                                                                                                                                                                        • 2 How about to your life
                                                                                                                                                                                                                                        • Slide 8
                                                                                                                                                                                                                                        • Slide 9
                                                                                                                                                                                                                                        • Slide 10
                                                                                                                                                                                                                                        • Slide 11
                                                                                                                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                                                                                                                        • Individualism
                                                                                                                                                                                                                                        • Quote activity
                                                                                                                                                                                                                                        • Quote breakdown
                                                                                                                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                        • Purpose of Government
                                                                                                                                                                                                                                        • Slide 20
                                                                                                                                                                                                                                        • 3 Theorists
                                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                        • Groups Block 2
                                                                                                                                                                                                                                        • Groups Block 4
                                                                                                                                                                                                                                        • Balloon Game
                                                                                                                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                                                                                                                        • Political Theories
                                                                                                                                                                                                                                        • Social Contract
                                                                                                                                                                                                                                        • Natural Rights
                                                                                                                                                                                                                                        • Democracy
                                                                                                                                                                                                                                        • Concepts of Government
                                                                                                                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                                                                                                                        • Warm Up 7
                                                                                                                                                                                                                                        • And after the Constitution
                                                                                                                                                                                                                                        • Activity (2)
                                                                                                                                                                                                                                        • Picture Activity
                                                                                                                                                                                                                                        • Constitutional Convention
                                                                                                                                                                                                                                        • Purpose of the Convention
                                                                                                                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                        • Your Task
                                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                                        • States agree
                                                                                                                                                                                                                                        • Quote
                                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                                        • 6 Purpose of Government
                                                                                                                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                                                                                                                        • Principles of Constitution
                                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                                        • Slide 60
                                                                                                                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                                                                                                                        • Question 1
                                                                                                                                                                                                                                        • Question 2
                                                                                                                                                                                                                                        • Question 3
                                                                                                                                                                                                                                        • Question 4
                                                                                                                                                                                                                                        • Question 5
                                                                                                                                                                                                                                        • Question 6
                                                                                                                                                                                                                                        • Question 7
                                                                                                                                                                                                                                        • Question 8
                                                                                                                                                                                                                                        • Groups
                                                                                                                                                                                                                                        • Separation of Powers
                                                                                                                                                                                                                                        • Video
                                                                                                                                                                                                                                        • Checks and Balances
                                                                                                                                                                                                                                        • Slide 74
                                                                                                                                                                                                                                        • Checks and balances
                                                                                                                                                                                                                                        • Basic Principles
                                                                                                                                                                                                                                        • Self- Worth
                                                                                                                                                                                                                                        • Equality
                                                                                                                                                                                                                                        • Compromise
                                                                                                                                                                                                                                        • Individual Freedom
                                                                                                                                                                                                                                        • Write your ownhellip
                                                                                                                                                                                                                                        • Slide 82
                                                                                                                                                                                                                                        • TED Talk
                                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                                        • What is Economics
                                                                                                                                                                                                                                        • Economics ishellip
                                                                                                                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                        • For the videohellip
                                                                                                                                                                                                                                        • Slide 90
                                                                                                                                                                                                                                        • Post Videohellip
                                                                                                                                                                                                                                        • Advertisement
                                                                                                                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                                                                                                                        • Factors of Production
                                                                                                                                                                                                                                        • TASK
                                                                                                                                                                                                                                        • The price ofhellip
                                                                                                                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                        • 1 What to produce
                                                                                                                                                                                                                                        • 2 How to produce it
                                                                                                                                                                                                                                        • 3 For whom to produce it
                                                                                                                                                                                                                                        • Application Activity
                                                                                                                                                                                                                                        • EQs
                                                                                                                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                                                                                                                        • Slide 105
                                                                                                                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                                                                                                                        • How do we make goods amp services
                                                                                                                                                                                                                                        • Economic Interdependence
                                                                                                                                                                                                                                        • Slide 109
                                                                                                                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                        • Exampleshellip
                                                                                                                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                        • Opportunity Cost
                                                                                                                                                                                                                                        • What else influences your choices
                                                                                                                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                                                                                                                        • PPF Assumptions
                                                                                                                                                                                                                                        • Slide 121
                                                                                                                                                                                                                                        • Production Possibilities Curve
                                                                                                                                                                                                                                        • The Choices Nations Make
                                                                                                                                                                                                                                        • Economic Growth
                                                                                                                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                                                                                                                        • Productivity
                                                                                                                                                                                                                                        • Locations on a PPF
                                                                                                                                                                                                                                        • Slide 128
                                                                                                                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                        • Economic Systems
                                                                                                                                                                                                                                        • Jigsaw activity
                                                                                                                                                                                                                                        • Slide 132
                                                                                                                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                        • Review of Economic Systems
                                                                                                                                                                                                                                        • Slide 135
                                                                                                                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                                                                                                                        • Which economic system does the US use
                                                                                                                                                                                                                                        • The American Economic System
                                                                                                                                                                                                                                        • The US mixed economy
                                                                                                                                                                                                                                        • Slide 140
                                                                                                                                                                                                                                        • Think backhellip
                                                                                                                                                                                                                                        • US Economic System Characteristics
                                                                                                                                                                                                                                        • Slide 143
                                                                                                                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                                                                                                                        • Marriage Vows
                                                                                                                                                                                                                                        • Do you remember
                                                                                                                                                                                                                                        • Slide 147

                                                                                                                                                                                                                                          Production Possibilities Frontier

                                                                                                                                                                                                                                          bullDiagram representing the possible combinations of goods and or services an economy can produce when all resources are being fully employed

                                                                                                                                                                                                                                          PPF Assumptions

                                                                                                                                                                                                                                          bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                                          Production Possibilities Curve

                                                                                                                                                                                                                                          CD

                                                                                                                                                                                                                                          E

                                                                                                                                                                                                                                          OU

                                                                                                                                                                                                                                          TP

                                                                                                                                                                                                                                          UT

                                                                                                                                                                                                                                          OF

                                                                                                                                                                                                                                          CO

                                                                                                                                                                                                                                          NS

                                                                                                                                                                                                                                          UM

                                                                                                                                                                                                                                          ER

                                                                                                                                                                                                                                          GO

                                                                                                                                                                                                                                          OD

                                                                                                                                                                                                                                          S

                                                                                                                                                                                                                                          (un

                                                                                                                                                                                                                                          its

                                                                                                                                                                                                                                          per

                                                                                                                                                                                                                                          yea

                                                                                                                                                                                                                                          r)

                                                                                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                          A

                                                                                                                                                                                                                                          BO

                                                                                                                                                                                                                                          XF

                                                                                                                                                                                                                                          G

                                                                                                                                                                                                                                          Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                                          The Choices Nations Make

                                                                                                                                                                                                                                          bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                                          bullProduce military goods or consumer goods

                                                                                                                                                                                                                                          Economic Growth

                                                                                                                                                                                                                                          2000 production possibilities

                                                                                                                                                                                                                                          1900 production possibilities

                                                                                                                                                                                                                                          OU

                                                                                                                                                                                                                                          TP

                                                                                                                                                                                                                                          UT

                                                                                                                                                                                                                                          OF

                                                                                                                                                                                                                                          CO

                                                                                                                                                                                                                                          NS

                                                                                                                                                                                                                                          UM

                                                                                                                                                                                                                                          ER

                                                                                                                                                                                                                                          GO

                                                                                                                                                                                                                                          OD

                                                                                                                                                                                                                                          S(u

                                                                                                                                                                                                                                          nits

                                                                                                                                                                                                                                          per

                                                                                                                                                                                                                                          yea

                                                                                                                                                                                                                                          r)

                                                                                                                                                                                                                                          OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                          Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                          The Classic Guns and Butter example

                                                                                                                                                                                                                                          Guns

                                                                                                                                                                                                                                          Butter

                                                                                                                                                                                                                                          10000 20000 30000 40000 50000

                                                                                                                                                                                                                                          1000009500085000

                                                                                                                                                                                                                                          70000

                                                                                                                                                                                                                                          5000040000

                                                                                                                                                                                                                                          BA

                                                                                                                                                                                                                                          C

                                                                                                                                                                                                                                          D

                                                                                                                                                                                                                                          E

                                                                                                                                                                                                                                          F

                                                                                                                                                                                                                                          At point A all resources are used for butter

                                                                                                                                                                                                                                          Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                          At point F all resources are used for Guns

                                                                                                                                                                                                                                          Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                          choices are

                                                                                                                                                                                                                                          bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                          bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                          Locations on a PPF

                                                                                                                                                                                                                                          bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                          bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                          bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                          Food

                                                                                                                                                                                                                                          Computer

                                                                                                                                                                                                                                          4

                                                                                                                                                                                                                                          3

                                                                                                                                                                                                                                          2

                                                                                                                                                                                                                                          1

                                                                                                                                                                                                                                          1 2 3 4

                                                                                                                                                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                          Unit

                                                                                                                                                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                          additional computers

                                                                                                                                                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                          Principle of Increasing Costs

                                                                                                                                                                                                                                          As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                          Economic Systems

                                                                                                                                                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                          Jigsaw activity

                                                                                                                                                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                          bull Economic Freedom

                                                                                                                                                                                                                                          bull Economic Efficiency

                                                                                                                                                                                                                                          bull Economic Equity

                                                                                                                                                                                                                                          bull Economic Security

                                                                                                                                                                                                                                          Economic Stability

                                                                                                                                                                                                                                          Economic Growth

                                                                                                                                                                                                                                          Review of Economic Systems

                                                                                                                                                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                          What are the most important goals of each economic system

                                                                                                                                                                                                                                          bullTraditionalSecurity and

                                                                                                                                                                                                                                          StabilitybullCommand

                                                                                                                                                                                                                                          Equity and Security

                                                                                                                                                                                                                                          bullMARKETEfficiency and

                                                                                                                                                                                                                                          Freedom

                                                                                                                                                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                          Which economic system does the US use

                                                                                                                                                                                                                                          The American Economic System

                                                                                                                                                                                                                                          bullWe have a mixed market economy

                                                                                                                                                                                                                                          COMMAND MARKET

                                                                                                                                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                          Think backhellip

                                                                                                                                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                          2 Limited government

                                                                                                                                                                                                                                          3 Equal opportunity

                                                                                                                                                                                                                                          4 Competition

                                                                                                                                                                                                                                          5 Profit motive

                                                                                                                                                                                                                                          6 Property Rights

                                                                                                                                                                                                                                          7 Binding Contracts

                                                                                                                                                                                                                                          Understanding how all parts fit together

                                                                                                                                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                          Shows interdependence between

                                                                                                                                                                                                                                          businesses and individuals

                                                                                                                                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                          Do you remember

                                                                                                                                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                          democracy and mixed economy

                                                                                                                                                                                                                                          • Foundations of Government and Economics
                                                                                                                                                                                                                                          • On your blank piece of paperhellip
                                                                                                                                                                                                                                          • Slide 3
                                                                                                                                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                                                                                                                                          • Introductory thoughts hellip
                                                                                                                                                                                                                                          • Slide 6
                                                                                                                                                                                                                                          • 2 How about to your life
                                                                                                                                                                                                                                          • Slide 8
                                                                                                                                                                                                                                          • Slide 9
                                                                                                                                                                                                                                          • Slide 10
                                                                                                                                                                                                                                          • Slide 11
                                                                                                                                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                          • Economist and Politician Assumptions
                                                                                                                                                                                                                                          • Individualism
                                                                                                                                                                                                                                          • Quote activity
                                                                                                                                                                                                                                          • Quote breakdown
                                                                                                                                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                          • Purpose of Government
                                                                                                                                                                                                                                          • Slide 20
                                                                                                                                                                                                                                          • 3 Theorists
                                                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                                                          • Origins of American Government A customized government
                                                                                                                                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                          • With which theory do you agree more Why
                                                                                                                                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                          • Groups Block 2
                                                                                                                                                                                                                                          • Groups Block 4
                                                                                                                                                                                                                                          • Balloon Game
                                                                                                                                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                          • Balloon Game Debriefing
                                                                                                                                                                                                                                          • Political Theories
                                                                                                                                                                                                                                          • Social Contract
                                                                                                                                                                                                                                          • Natural Rights
                                                                                                                                                                                                                                          • Democracy
                                                                                                                                                                                                                                          • Concepts of Government
                                                                                                                                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                                                                                                                                          • Warm Up 7
                                                                                                                                                                                                                                          • And after the Constitution
                                                                                                                                                                                                                                          • Activity (2)
                                                                                                                                                                                                                                          • Picture Activity
                                                                                                                                                                                                                                          • Constitutional Convention
                                                                                                                                                                                                                                          • Purpose of the Convention
                                                                                                                                                                                                                                          • VA Plan v NJ Plan
                                                                                                                                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                          • Your Task
                                                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                                                          • States agree
                                                                                                                                                                                                                                          • Quote
                                                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                                                          • 6 Purpose of Government
                                                                                                                                                                                                                                          • Structure of Constitution (2)
                                                                                                                                                                                                                                          • Structure of Constitution (3)
                                                                                                                                                                                                                                          • Principles of Constitution
                                                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                                                          • Slide 60
                                                                                                                                                                                                                                          • Check for Understanding Six Principles
                                                                                                                                                                                                                                          • Question 1
                                                                                                                                                                                                                                          • Question 2
                                                                                                                                                                                                                                          • Question 3
                                                                                                                                                                                                                                          • Question 4
                                                                                                                                                                                                                                          • Question 5
                                                                                                                                                                                                                                          • Question 6
                                                                                                                                                                                                                                          • Question 7
                                                                                                                                                                                                                                          • Question 8
                                                                                                                                                                                                                                          • Groups
                                                                                                                                                                                                                                          • Separation of Powers
                                                                                                                                                                                                                                          • Video
                                                                                                                                                                                                                                          • Checks and Balances
                                                                                                                                                                                                                                          • Slide 74
                                                                                                                                                                                                                                          • Checks and balances
                                                                                                                                                                                                                                          • Basic Principles
                                                                                                                                                                                                                                          • Self- Worth
                                                                                                                                                                                                                                          • Equality
                                                                                                                                                                                                                                          • Compromise
                                                                                                                                                                                                                                          • Individual Freedom
                                                                                                                                                                                                                                          • Write your ownhellip
                                                                                                                                                                                                                                          • Slide 82
                                                                                                                                                                                                                                          • TED Talk
                                                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                                                          • What is Economics
                                                                                                                                                                                                                                          • Economics ishellip
                                                                                                                                                                                                                                          • Back to our assumptionshellip
                                                                                                                                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                          • For the videohellip
                                                                                                                                                                                                                                          • Slide 90
                                                                                                                                                                                                                                          • Post Videohellip
                                                                                                                                                                                                                                          • Advertisement
                                                                                                                                                                                                                                          • Political Cartoon Analysis
                                                                                                                                                                                                                                          • Factors of Production
                                                                                                                                                                                                                                          • TASK
                                                                                                                                                                                                                                          • The price ofhellip
                                                                                                                                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                          • 1 What to produce
                                                                                                                                                                                                                                          • 2 How to produce it
                                                                                                                                                                                                                                          • 3 For whom to produce it
                                                                                                                                                                                                                                          • Application Activity
                                                                                                                                                                                                                                          • EQs
                                                                                                                                                                                                                                          • Objectives amp Essential Questions
                                                                                                                                                                                                                                          • Group Activity Budget Activity
                                                                                                                                                                                                                                          • Slide 105
                                                                                                                                                                                                                                          • How do we satisfy our economic wants
                                                                                                                                                                                                                                          • How do we make goods amp services
                                                                                                                                                                                                                                          • Economic Interdependence
                                                                                                                                                                                                                                          • Slide 109
                                                                                                                                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                          • Exampleshellip
                                                                                                                                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                          • Opportunity Cost
                                                                                                                                                                                                                                          • What else influences your choices
                                                                                                                                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                          • ObjectivesEssential Questions
                                                                                                                                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                          • Production Possibilities Frontier
                                                                                                                                                                                                                                          • PPF Assumptions
                                                                                                                                                                                                                                          • Slide 121
                                                                                                                                                                                                                                          • Production Possibilities Curve
                                                                                                                                                                                                                                          • The Choices Nations Make
                                                                                                                                                                                                                                          • Economic Growth
                                                                                                                                                                                                                                          • The Classic Guns and Butter example
                                                                                                                                                                                                                                          • Productivity
                                                                                                                                                                                                                                          • Locations on a PPF
                                                                                                                                                                                                                                          • Slide 128
                                                                                                                                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                          • Economic Systems
                                                                                                                                                                                                                                          • Jigsaw activity
                                                                                                                                                                                                                                          • Slide 132
                                                                                                                                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                          • Review of Economic Systems
                                                                                                                                                                                                                                          • Slide 135
                                                                                                                                                                                                                                          • What are the most important goals of each economic system
                                                                                                                                                                                                                                          • Which economic system does the US use
                                                                                                                                                                                                                                          • The American Economic System
                                                                                                                                                                                                                                          • The US mixed economy
                                                                                                                                                                                                                                          • Slide 140
                                                                                                                                                                                                                                          • Think backhellip
                                                                                                                                                                                                                                          • US Economic System Characteristics
                                                                                                                                                                                                                                          • Slide 143
                                                                                                                                                                                                                                          • Understanding how all parts fit together
                                                                                                                                                                                                                                          • Marriage Vows
                                                                                                                                                                                                                                          • Do you remember
                                                                                                                                                                                                                                          • Slide 147

                                                                                                                                                                                                                                            PPF Assumptions

                                                                                                                                                                                                                                            bullWe live in a two good worldbullThere are fixed resourcesbullThere is fixed technologybullResources are not specialized

                                                                                                                                                                                                                                            Production Possibilities Curve

                                                                                                                                                                                                                                            CD

                                                                                                                                                                                                                                            E

                                                                                                                                                                                                                                            OU

                                                                                                                                                                                                                                            TP

                                                                                                                                                                                                                                            UT

                                                                                                                                                                                                                                            OF

                                                                                                                                                                                                                                            CO

                                                                                                                                                                                                                                            NS

                                                                                                                                                                                                                                            UM

                                                                                                                                                                                                                                            ER

                                                                                                                                                                                                                                            GO

                                                                                                                                                                                                                                            OD

                                                                                                                                                                                                                                            S

                                                                                                                                                                                                                                            (un

                                                                                                                                                                                                                                            its

                                                                                                                                                                                                                                            per

                                                                                                                                                                                                                                            yea

                                                                                                                                                                                                                                            r)

                                                                                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                            A

                                                                                                                                                                                                                                            BO

                                                                                                                                                                                                                                            XF

                                                                                                                                                                                                                                            G

                                                                                                                                                                                                                                            Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                                            The Choices Nations Make

                                                                                                                                                                                                                                            bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                                            bullProduce military goods or consumer goods

                                                                                                                                                                                                                                            Economic Growth

                                                                                                                                                                                                                                            2000 production possibilities

                                                                                                                                                                                                                                            1900 production possibilities

                                                                                                                                                                                                                                            OU

                                                                                                                                                                                                                                            TP

                                                                                                                                                                                                                                            UT

                                                                                                                                                                                                                                            OF

                                                                                                                                                                                                                                            CO

                                                                                                                                                                                                                                            NS

                                                                                                                                                                                                                                            UM

                                                                                                                                                                                                                                            ER

                                                                                                                                                                                                                                            GO

                                                                                                                                                                                                                                            OD

                                                                                                                                                                                                                                            S(u

                                                                                                                                                                                                                                            nits

                                                                                                                                                                                                                                            per

                                                                                                                                                                                                                                            yea

                                                                                                                                                                                                                                            r)

                                                                                                                                                                                                                                            OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                            Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                            The Classic Guns and Butter example

                                                                                                                                                                                                                                            Guns

                                                                                                                                                                                                                                            Butter

                                                                                                                                                                                                                                            10000 20000 30000 40000 50000

                                                                                                                                                                                                                                            1000009500085000

                                                                                                                                                                                                                                            70000

                                                                                                                                                                                                                                            5000040000

                                                                                                                                                                                                                                            BA

                                                                                                                                                                                                                                            C

                                                                                                                                                                                                                                            D

                                                                                                                                                                                                                                            E

                                                                                                                                                                                                                                            F

                                                                                                                                                                                                                                            At point A all resources are used for butter

                                                                                                                                                                                                                                            Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                            At point F all resources are used for Guns

                                                                                                                                                                                                                                            Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                            choices are

                                                                                                                                                                                                                                            bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                            bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                            Locations on a PPF

                                                                                                                                                                                                                                            bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                            bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                            bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                            Food

                                                                                                                                                                                                                                            Computer

                                                                                                                                                                                                                                            4

                                                                                                                                                                                                                                            3

                                                                                                                                                                                                                                            2

                                                                                                                                                                                                                                            1

                                                                                                                                                                                                                                            1 2 3 4

                                                                                                                                                                                                                                            OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                            UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                            Unit

                                                                                                                                                                                                                                            Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                            additional computers

                                                                                                                                                                                                                                            STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                            Principle of Increasing Costs

                                                                                                                                                                                                                                            As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                            Economic Systems

                                                                                                                                                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                            Jigsaw activity

                                                                                                                                                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                            bull Economic Freedom

                                                                                                                                                                                                                                            bull Economic Efficiency

                                                                                                                                                                                                                                            bull Economic Equity

                                                                                                                                                                                                                                            bull Economic Security

                                                                                                                                                                                                                                            Economic Stability

                                                                                                                                                                                                                                            Economic Growth

                                                                                                                                                                                                                                            Review of Economic Systems

                                                                                                                                                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                            What are the most important goals of each economic system

                                                                                                                                                                                                                                            bullTraditionalSecurity and

                                                                                                                                                                                                                                            StabilitybullCommand

                                                                                                                                                                                                                                            Equity and Security

                                                                                                                                                                                                                                            bullMARKETEfficiency and

                                                                                                                                                                                                                                            Freedom

                                                                                                                                                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                            Which economic system does the US use

                                                                                                                                                                                                                                            The American Economic System

                                                                                                                                                                                                                                            bullWe have a mixed market economy

                                                                                                                                                                                                                                            COMMAND MARKET

                                                                                                                                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                            Think backhellip

                                                                                                                                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                            2 Limited government

                                                                                                                                                                                                                                            3 Equal opportunity

                                                                                                                                                                                                                                            4 Competition

                                                                                                                                                                                                                                            5 Profit motive

                                                                                                                                                                                                                                            6 Property Rights

                                                                                                                                                                                                                                            7 Binding Contracts

                                                                                                                                                                                                                                            Understanding how all parts fit together

                                                                                                                                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                            Shows interdependence between

                                                                                                                                                                                                                                            businesses and individuals

                                                                                                                                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                            Do you remember

                                                                                                                                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                            democracy and mixed economy

                                                                                                                                                                                                                                            • Foundations of Government and Economics
                                                                                                                                                                                                                                            • On your blank piece of paperhellip
                                                                                                                                                                                                                                            • Slide 3
                                                                                                                                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                                                                                                                                            • Introductory thoughts hellip
                                                                                                                                                                                                                                            • Slide 6
                                                                                                                                                                                                                                            • 2 How about to your life
                                                                                                                                                                                                                                            • Slide 8
                                                                                                                                                                                                                                            • Slide 9
                                                                                                                                                                                                                                            • Slide 10
                                                                                                                                                                                                                                            • Slide 11
                                                                                                                                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                            • Economist and Politician Assumptions
                                                                                                                                                                                                                                            • Individualism
                                                                                                                                                                                                                                            • Quote activity
                                                                                                                                                                                                                                            • Quote breakdown
                                                                                                                                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                            • Purpose of Government
                                                                                                                                                                                                                                            • Slide 20
                                                                                                                                                                                                                                            • 3 Theorists
                                                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                                                            • Origins of American Government A customized government
                                                                                                                                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                            • With which theory do you agree more Why
                                                                                                                                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                            • Groups Block 2
                                                                                                                                                                                                                                            • Groups Block 4
                                                                                                                                                                                                                                            • Balloon Game
                                                                                                                                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                            • Balloon Game Debriefing
                                                                                                                                                                                                                                            • Political Theories
                                                                                                                                                                                                                                            • Social Contract
                                                                                                                                                                                                                                            • Natural Rights
                                                                                                                                                                                                                                            • Democracy
                                                                                                                                                                                                                                            • Concepts of Government
                                                                                                                                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                                                                                                                                            • Warm Up 7
                                                                                                                                                                                                                                            • And after the Constitution
                                                                                                                                                                                                                                            • Activity (2)
                                                                                                                                                                                                                                            • Picture Activity
                                                                                                                                                                                                                                            • Constitutional Convention
                                                                                                                                                                                                                                            • Purpose of the Convention
                                                                                                                                                                                                                                            • VA Plan v NJ Plan
                                                                                                                                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                            • Your Task
                                                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                                                            • States agree
                                                                                                                                                                                                                                            • Quote
                                                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                                                            • 6 Purpose of Government
                                                                                                                                                                                                                                            • Structure of Constitution (2)
                                                                                                                                                                                                                                            • Structure of Constitution (3)
                                                                                                                                                                                                                                            • Principles of Constitution
                                                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                                                            • Slide 60
                                                                                                                                                                                                                                            • Check for Understanding Six Principles
                                                                                                                                                                                                                                            • Question 1
                                                                                                                                                                                                                                            • Question 2
                                                                                                                                                                                                                                            • Question 3
                                                                                                                                                                                                                                            • Question 4
                                                                                                                                                                                                                                            • Question 5
                                                                                                                                                                                                                                            • Question 6
                                                                                                                                                                                                                                            • Question 7
                                                                                                                                                                                                                                            • Question 8
                                                                                                                                                                                                                                            • Groups
                                                                                                                                                                                                                                            • Separation of Powers
                                                                                                                                                                                                                                            • Video
                                                                                                                                                                                                                                            • Checks and Balances
                                                                                                                                                                                                                                            • Slide 74
                                                                                                                                                                                                                                            • Checks and balances
                                                                                                                                                                                                                                            • Basic Principles
                                                                                                                                                                                                                                            • Self- Worth
                                                                                                                                                                                                                                            • Equality
                                                                                                                                                                                                                                            • Compromise
                                                                                                                                                                                                                                            • Individual Freedom
                                                                                                                                                                                                                                            • Write your ownhellip
                                                                                                                                                                                                                                            • Slide 82
                                                                                                                                                                                                                                            • TED Talk
                                                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                                                            • What is Economics
                                                                                                                                                                                                                                            • Economics ishellip
                                                                                                                                                                                                                                            • Back to our assumptionshellip
                                                                                                                                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                            • For the videohellip
                                                                                                                                                                                                                                            • Slide 90
                                                                                                                                                                                                                                            • Post Videohellip
                                                                                                                                                                                                                                            • Advertisement
                                                                                                                                                                                                                                            • Political Cartoon Analysis
                                                                                                                                                                                                                                            • Factors of Production
                                                                                                                                                                                                                                            • TASK
                                                                                                                                                                                                                                            • The price ofhellip
                                                                                                                                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                            • 1 What to produce
                                                                                                                                                                                                                                            • 2 How to produce it
                                                                                                                                                                                                                                            • 3 For whom to produce it
                                                                                                                                                                                                                                            • Application Activity
                                                                                                                                                                                                                                            • EQs
                                                                                                                                                                                                                                            • Objectives amp Essential Questions
                                                                                                                                                                                                                                            • Group Activity Budget Activity
                                                                                                                                                                                                                                            • Slide 105
                                                                                                                                                                                                                                            • How do we satisfy our economic wants
                                                                                                                                                                                                                                            • How do we make goods amp services
                                                                                                                                                                                                                                            • Economic Interdependence
                                                                                                                                                                                                                                            • Slide 109
                                                                                                                                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                            • Exampleshellip
                                                                                                                                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                            • Opportunity Cost
                                                                                                                                                                                                                                            • What else influences your choices
                                                                                                                                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                            • ObjectivesEssential Questions
                                                                                                                                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                            • Production Possibilities Frontier
                                                                                                                                                                                                                                            • PPF Assumptions
                                                                                                                                                                                                                                            • Slide 121
                                                                                                                                                                                                                                            • Production Possibilities Curve
                                                                                                                                                                                                                                            • The Choices Nations Make
                                                                                                                                                                                                                                            • Economic Growth
                                                                                                                                                                                                                                            • The Classic Guns and Butter example
                                                                                                                                                                                                                                            • Productivity
                                                                                                                                                                                                                                            • Locations on a PPF
                                                                                                                                                                                                                                            • Slide 128
                                                                                                                                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                            • Economic Systems
                                                                                                                                                                                                                                            • Jigsaw activity
                                                                                                                                                                                                                                            • Slide 132
                                                                                                                                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                            • Review of Economic Systems
                                                                                                                                                                                                                                            • Slide 135
                                                                                                                                                                                                                                            • What are the most important goals of each economic system
                                                                                                                                                                                                                                            • Which economic system does the US use
                                                                                                                                                                                                                                            • The American Economic System
                                                                                                                                                                                                                                            • The US mixed economy
                                                                                                                                                                                                                                            • Slide 140
                                                                                                                                                                                                                                            • Think backhellip
                                                                                                                                                                                                                                            • US Economic System Characteristics
                                                                                                                                                                                                                                            • Slide 143
                                                                                                                                                                                                                                            • Understanding how all parts fit together
                                                                                                                                                                                                                                            • Marriage Vows
                                                                                                                                                                                                                                            • Do you remember
                                                                                                                                                                                                                                            • Slide 147

                                                                                                                                                                                                                                              Production Possibilities Curve

                                                                                                                                                                                                                                              CD

                                                                                                                                                                                                                                              E

                                                                                                                                                                                                                                              OU

                                                                                                                                                                                                                                              TP

                                                                                                                                                                                                                                              UT

                                                                                                                                                                                                                                              OF

                                                                                                                                                                                                                                              CO

                                                                                                                                                                                                                                              NS

                                                                                                                                                                                                                                              UM

                                                                                                                                                                                                                                              ER

                                                                                                                                                                                                                                              GO

                                                                                                                                                                                                                                              OD

                                                                                                                                                                                                                                              S

                                                                                                                                                                                                                                              (un

                                                                                                                                                                                                                                              its

                                                                                                                                                                                                                                              per

                                                                                                                                                                                                                                              yea

                                                                                                                                                                                                                                              r)

                                                                                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                              A

                                                                                                                                                                                                                                              BO

                                                                                                                                                                                                                                              XF

                                                                                                                                                                                                                                              G

                                                                                                                                                                                                                                              Limited resources necessitate choices about WHAT to produce

                                                                                                                                                                                                                                              The Choices Nations Make

                                                                                                                                                                                                                                              bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                                              bullProduce military goods or consumer goods

                                                                                                                                                                                                                                              Economic Growth

                                                                                                                                                                                                                                              2000 production possibilities

                                                                                                                                                                                                                                              1900 production possibilities

                                                                                                                                                                                                                                              OU

                                                                                                                                                                                                                                              TP

                                                                                                                                                                                                                                              UT

                                                                                                                                                                                                                                              OF

                                                                                                                                                                                                                                              CO

                                                                                                                                                                                                                                              NS

                                                                                                                                                                                                                                              UM

                                                                                                                                                                                                                                              ER

                                                                                                                                                                                                                                              GO

                                                                                                                                                                                                                                              OD

                                                                                                                                                                                                                                              S(u

                                                                                                                                                                                                                                              nits

                                                                                                                                                                                                                                              per

                                                                                                                                                                                                                                              yea

                                                                                                                                                                                                                                              r)

                                                                                                                                                                                                                                              OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                              Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                              The Classic Guns and Butter example

                                                                                                                                                                                                                                              Guns

                                                                                                                                                                                                                                              Butter

                                                                                                                                                                                                                                              10000 20000 30000 40000 50000

                                                                                                                                                                                                                                              1000009500085000

                                                                                                                                                                                                                                              70000

                                                                                                                                                                                                                                              5000040000

                                                                                                                                                                                                                                              BA

                                                                                                                                                                                                                                              C

                                                                                                                                                                                                                                              D

                                                                                                                                                                                                                                              E

                                                                                                                                                                                                                                              F

                                                                                                                                                                                                                                              At point A all resources are used for butter

                                                                                                                                                                                                                                              Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                              At point F all resources are used for Guns

                                                                                                                                                                                                                                              Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                              choices are

                                                                                                                                                                                                                                              bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                              bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                              Locations on a PPF

                                                                                                                                                                                                                                              bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                              bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                              bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                              Food

                                                                                                                                                                                                                                              Computer

                                                                                                                                                                                                                                              4

                                                                                                                                                                                                                                              3

                                                                                                                                                                                                                                              2

                                                                                                                                                                                                                                              1

                                                                                                                                                                                                                                              1 2 3 4

                                                                                                                                                                                                                                              OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                              UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                              Unit

                                                                                                                                                                                                                                              Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                              additional computers

                                                                                                                                                                                                                                              STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                              BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                              Principle of Increasing Costs

                                                                                                                                                                                                                                              As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                              that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                              Economic Systems

                                                                                                                                                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                              Jigsaw activity

                                                                                                                                                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                              bull Economic Freedom

                                                                                                                                                                                                                                              bull Economic Efficiency

                                                                                                                                                                                                                                              bull Economic Equity

                                                                                                                                                                                                                                              bull Economic Security

                                                                                                                                                                                                                                              Economic Stability

                                                                                                                                                                                                                                              Economic Growth

                                                                                                                                                                                                                                              Review of Economic Systems

                                                                                                                                                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                              What are the most important goals of each economic system

                                                                                                                                                                                                                                              bullTraditionalSecurity and

                                                                                                                                                                                                                                              StabilitybullCommand

                                                                                                                                                                                                                                              Equity and Security

                                                                                                                                                                                                                                              bullMARKETEfficiency and

                                                                                                                                                                                                                                              Freedom

                                                                                                                                                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                              Which economic system does the US use

                                                                                                                                                                                                                                              The American Economic System

                                                                                                                                                                                                                                              bullWe have a mixed market economy

                                                                                                                                                                                                                                              COMMAND MARKET

                                                                                                                                                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                              Think backhellip

                                                                                                                                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                              2 Limited government

                                                                                                                                                                                                                                              3 Equal opportunity

                                                                                                                                                                                                                                              4 Competition

                                                                                                                                                                                                                                              5 Profit motive

                                                                                                                                                                                                                                              6 Property Rights

                                                                                                                                                                                                                                              7 Binding Contracts

                                                                                                                                                                                                                                              Understanding how all parts fit together

                                                                                                                                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                              Shows interdependence between

                                                                                                                                                                                                                                              businesses and individuals

                                                                                                                                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                              Do you remember

                                                                                                                                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                              democracy and mixed economy

                                                                                                                                                                                                                                              • Foundations of Government and Economics
                                                                                                                                                                                                                                              • On your blank piece of paperhellip
                                                                                                                                                                                                                                              • Slide 3
                                                                                                                                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                                                                                                                                              • Introductory thoughts hellip
                                                                                                                                                                                                                                              • Slide 6
                                                                                                                                                                                                                                              • 2 How about to your life
                                                                                                                                                                                                                                              • Slide 8
                                                                                                                                                                                                                                              • Slide 9
                                                                                                                                                                                                                                              • Slide 10
                                                                                                                                                                                                                                              • Slide 11
                                                                                                                                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                              • Economist and Politician Assumptions
                                                                                                                                                                                                                                              • Individualism
                                                                                                                                                                                                                                              • Quote activity
                                                                                                                                                                                                                                              • Quote breakdown
                                                                                                                                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                              • Purpose of Government
                                                                                                                                                                                                                                              • Slide 20
                                                                                                                                                                                                                                              • 3 Theorists
                                                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                                                              • Origins of American Government A customized government
                                                                                                                                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                              • With which theory do you agree more Why
                                                                                                                                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                              • Groups Block 2
                                                                                                                                                                                                                                              • Groups Block 4
                                                                                                                                                                                                                                              • Balloon Game
                                                                                                                                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                              • Balloon Game Debriefing
                                                                                                                                                                                                                                              • Political Theories
                                                                                                                                                                                                                                              • Social Contract
                                                                                                                                                                                                                                              • Natural Rights
                                                                                                                                                                                                                                              • Democracy
                                                                                                                                                                                                                                              • Concepts of Government
                                                                                                                                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                                                                                                                                              • Warm Up 7
                                                                                                                                                                                                                                              • And after the Constitution
                                                                                                                                                                                                                                              • Activity (2)
                                                                                                                                                                                                                                              • Picture Activity
                                                                                                                                                                                                                                              • Constitutional Convention
                                                                                                                                                                                                                                              • Purpose of the Convention
                                                                                                                                                                                                                                              • VA Plan v NJ Plan
                                                                                                                                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                              • Your Task
                                                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                                                              • States agree
                                                                                                                                                                                                                                              • Quote
                                                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                                                              • 6 Purpose of Government
                                                                                                                                                                                                                                              • Structure of Constitution (2)
                                                                                                                                                                                                                                              • Structure of Constitution (3)
                                                                                                                                                                                                                                              • Principles of Constitution
                                                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                                                              • Slide 60
                                                                                                                                                                                                                                              • Check for Understanding Six Principles
                                                                                                                                                                                                                                              • Question 1
                                                                                                                                                                                                                                              • Question 2
                                                                                                                                                                                                                                              • Question 3
                                                                                                                                                                                                                                              • Question 4
                                                                                                                                                                                                                                              • Question 5
                                                                                                                                                                                                                                              • Question 6
                                                                                                                                                                                                                                              • Question 7
                                                                                                                                                                                                                                              • Question 8
                                                                                                                                                                                                                                              • Groups
                                                                                                                                                                                                                                              • Separation of Powers
                                                                                                                                                                                                                                              • Video
                                                                                                                                                                                                                                              • Checks and Balances
                                                                                                                                                                                                                                              • Slide 74
                                                                                                                                                                                                                                              • Checks and balances
                                                                                                                                                                                                                                              • Basic Principles
                                                                                                                                                                                                                                              • Self- Worth
                                                                                                                                                                                                                                              • Equality
                                                                                                                                                                                                                                              • Compromise
                                                                                                                                                                                                                                              • Individual Freedom
                                                                                                                                                                                                                                              • Write your ownhellip
                                                                                                                                                                                                                                              • Slide 82
                                                                                                                                                                                                                                              • TED Talk
                                                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                                                              • What is Economics
                                                                                                                                                                                                                                              • Economics ishellip
                                                                                                                                                                                                                                              • Back to our assumptionshellip
                                                                                                                                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                              • For the videohellip
                                                                                                                                                                                                                                              • Slide 90
                                                                                                                                                                                                                                              • Post Videohellip
                                                                                                                                                                                                                                              • Advertisement
                                                                                                                                                                                                                                              • Political Cartoon Analysis
                                                                                                                                                                                                                                              • Factors of Production
                                                                                                                                                                                                                                              • TASK
                                                                                                                                                                                                                                              • The price ofhellip
                                                                                                                                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                              • 1 What to produce
                                                                                                                                                                                                                                              • 2 How to produce it
                                                                                                                                                                                                                                              • 3 For whom to produce it
                                                                                                                                                                                                                                              • Application Activity
                                                                                                                                                                                                                                              • EQs
                                                                                                                                                                                                                                              • Objectives amp Essential Questions
                                                                                                                                                                                                                                              • Group Activity Budget Activity
                                                                                                                                                                                                                                              • Slide 105
                                                                                                                                                                                                                                              • How do we satisfy our economic wants
                                                                                                                                                                                                                                              • How do we make goods amp services
                                                                                                                                                                                                                                              • Economic Interdependence
                                                                                                                                                                                                                                              • Slide 109
                                                                                                                                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                              • Exampleshellip
                                                                                                                                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                              • Opportunity Cost
                                                                                                                                                                                                                                              • What else influences your choices
                                                                                                                                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                              • ObjectivesEssential Questions
                                                                                                                                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                              • Production Possibilities Frontier
                                                                                                                                                                                                                                              • PPF Assumptions
                                                                                                                                                                                                                                              • Slide 121
                                                                                                                                                                                                                                              • Production Possibilities Curve
                                                                                                                                                                                                                                              • The Choices Nations Make
                                                                                                                                                                                                                                              • Economic Growth
                                                                                                                                                                                                                                              • The Classic Guns and Butter example
                                                                                                                                                                                                                                              • Productivity
                                                                                                                                                                                                                                              • Locations on a PPF
                                                                                                                                                                                                                                              • Slide 128
                                                                                                                                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                              • Economic Systems
                                                                                                                                                                                                                                              • Jigsaw activity
                                                                                                                                                                                                                                              • Slide 132
                                                                                                                                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                              • Review of Economic Systems
                                                                                                                                                                                                                                              • Slide 135
                                                                                                                                                                                                                                              • What are the most important goals of each economic system
                                                                                                                                                                                                                                              • Which economic system does the US use
                                                                                                                                                                                                                                              • The American Economic System
                                                                                                                                                                                                                                              • The US mixed economy
                                                                                                                                                                                                                                              • Slide 140
                                                                                                                                                                                                                                              • Think backhellip
                                                                                                                                                                                                                                              • US Economic System Characteristics
                                                                                                                                                                                                                                              • Slide 143
                                                                                                                                                                                                                                              • Understanding how all parts fit together
                                                                                                                                                                                                                                              • Marriage Vows
                                                                                                                                                                                                                                              • Do you remember
                                                                                                                                                                                                                                              • Slide 147

                                                                                                                                                                                                                                                The Choices Nations Make

                                                                                                                                                                                                                                                bullA nation must choose what to do with its scarce resources during war or periods of military buildup

                                                                                                                                                                                                                                                bullProduce military goods or consumer goods

                                                                                                                                                                                                                                                Economic Growth

                                                                                                                                                                                                                                                2000 production possibilities

                                                                                                                                                                                                                                                1900 production possibilities

                                                                                                                                                                                                                                                OU

                                                                                                                                                                                                                                                TP

                                                                                                                                                                                                                                                UT

                                                                                                                                                                                                                                                OF

                                                                                                                                                                                                                                                CO

                                                                                                                                                                                                                                                NS

                                                                                                                                                                                                                                                UM

                                                                                                                                                                                                                                                ER

                                                                                                                                                                                                                                                GO

                                                                                                                                                                                                                                                OD

                                                                                                                                                                                                                                                S(u

                                                                                                                                                                                                                                                nits

                                                                                                                                                                                                                                                per

                                                                                                                                                                                                                                                yea

                                                                                                                                                                                                                                                r)

                                                                                                                                                                                                                                                OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                                Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                                The Classic Guns and Butter example

                                                                                                                                                                                                                                                Guns

                                                                                                                                                                                                                                                Butter

                                                                                                                                                                                                                                                10000 20000 30000 40000 50000

                                                                                                                                                                                                                                                1000009500085000

                                                                                                                                                                                                                                                70000

                                                                                                                                                                                                                                                5000040000

                                                                                                                                                                                                                                                BA

                                                                                                                                                                                                                                                C

                                                                                                                                                                                                                                                D

                                                                                                                                                                                                                                                E

                                                                                                                                                                                                                                                F

                                                                                                                                                                                                                                                At point A all resources are used for butter

                                                                                                                                                                                                                                                Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                                At point F all resources are used for Guns

                                                                                                                                                                                                                                                Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                                choices are

                                                                                                                                                                                                                                                bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                                bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                                Locations on a PPF

                                                                                                                                                                                                                                                bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                                bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                                bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                                Food

                                                                                                                                                                                                                                                Computer

                                                                                                                                                                                                                                                4

                                                                                                                                                                                                                                                3

                                                                                                                                                                                                                                                2

                                                                                                                                                                                                                                                1

                                                                                                                                                                                                                                                1 2 3 4

                                                                                                                                                                                                                                                OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                                UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                                Unit

                                                                                                                                                                                                                                                Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                                additional computers

                                                                                                                                                                                                                                                STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                                BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                                Principle of Increasing Costs

                                                                                                                                                                                                                                                As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                                that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                                Economic Systems

                                                                                                                                                                                                                                                An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                                How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                                Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                                Jigsaw activity

                                                                                                                                                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                bull Economic Freedom

                                                                                                                                                                                                                                                bull Economic Efficiency

                                                                                                                                                                                                                                                bull Economic Equity

                                                                                                                                                                                                                                                bull Economic Security

                                                                                                                                                                                                                                                Economic Stability

                                                                                                                                                                                                                                                Economic Growth

                                                                                                                                                                                                                                                Review of Economic Systems

                                                                                                                                                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                What are the most important goals of each economic system

                                                                                                                                                                                                                                                bullTraditionalSecurity and

                                                                                                                                                                                                                                                StabilitybullCommand

                                                                                                                                                                                                                                                Equity and Security

                                                                                                                                                                                                                                                bullMARKETEfficiency and

                                                                                                                                                                                                                                                Freedom

                                                                                                                                                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                Which economic system does the US use

                                                                                                                                                                                                                                                The American Economic System

                                                                                                                                                                                                                                                bullWe have a mixed market economy

                                                                                                                                                                                                                                                COMMAND MARKET

                                                                                                                                                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                Think backhellip

                                                                                                                                                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                2 Limited government

                                                                                                                                                                                                                                                3 Equal opportunity

                                                                                                                                                                                                                                                4 Competition

                                                                                                                                                                                                                                                5 Profit motive

                                                                                                                                                                                                                                                6 Property Rights

                                                                                                                                                                                                                                                7 Binding Contracts

                                                                                                                                                                                                                                                Understanding how all parts fit together

                                                                                                                                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                Shows interdependence between

                                                                                                                                                                                                                                                businesses and individuals

                                                                                                                                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                Do you remember

                                                                                                                                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                democracy and mixed economy

                                                                                                                                                                                                                                                • Foundations of Government and Economics
                                                                                                                                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                                                                                                                                • Slide 3
                                                                                                                                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                • Introductory thoughts hellip
                                                                                                                                                                                                                                                • Slide 6
                                                                                                                                                                                                                                                • 2 How about to your life
                                                                                                                                                                                                                                                • Slide 8
                                                                                                                                                                                                                                                • Slide 9
                                                                                                                                                                                                                                                • Slide 10
                                                                                                                                                                                                                                                • Slide 11
                                                                                                                                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                                                                                                                                • Individualism
                                                                                                                                                                                                                                                • Quote activity
                                                                                                                                                                                                                                                • Quote breakdown
                                                                                                                                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                • Purpose of Government
                                                                                                                                                                                                                                                • Slide 20
                                                                                                                                                                                                                                                • 3 Theorists
                                                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                                                • Origins of American Government A customized government
                                                                                                                                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                • With which theory do you agree more Why
                                                                                                                                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                • Groups Block 2
                                                                                                                                                                                                                                                • Groups Block 4
                                                                                                                                                                                                                                                • Balloon Game
                                                                                                                                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                • Balloon Game Debriefing
                                                                                                                                                                                                                                                • Political Theories
                                                                                                                                                                                                                                                • Social Contract
                                                                                                                                                                                                                                                • Natural Rights
                                                                                                                                                                                                                                                • Democracy
                                                                                                                                                                                                                                                • Concepts of Government
                                                                                                                                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                • Warm Up 7
                                                                                                                                                                                                                                                • And after the Constitution
                                                                                                                                                                                                                                                • Activity (2)
                                                                                                                                                                                                                                                • Picture Activity
                                                                                                                                                                                                                                                • Constitutional Convention
                                                                                                                                                                                                                                                • Purpose of the Convention
                                                                                                                                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                • Your Task
                                                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                                                • States agree
                                                                                                                                                                                                                                                • Quote
                                                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                                                • 6 Purpose of Government
                                                                                                                                                                                                                                                • Structure of Constitution (2)
                                                                                                                                                                                                                                                • Structure of Constitution (3)
                                                                                                                                                                                                                                                • Principles of Constitution
                                                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                                                • Slide 60
                                                                                                                                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                                                                                                                                • Question 1
                                                                                                                                                                                                                                                • Question 2
                                                                                                                                                                                                                                                • Question 3
                                                                                                                                                                                                                                                • Question 4
                                                                                                                                                                                                                                                • Question 5
                                                                                                                                                                                                                                                • Question 6
                                                                                                                                                                                                                                                • Question 7
                                                                                                                                                                                                                                                • Question 8
                                                                                                                                                                                                                                                • Groups
                                                                                                                                                                                                                                                • Separation of Powers
                                                                                                                                                                                                                                                • Video
                                                                                                                                                                                                                                                • Checks and Balances
                                                                                                                                                                                                                                                • Slide 74
                                                                                                                                                                                                                                                • Checks and balances
                                                                                                                                                                                                                                                • Basic Principles
                                                                                                                                                                                                                                                • Self- Worth
                                                                                                                                                                                                                                                • Equality
                                                                                                                                                                                                                                                • Compromise
                                                                                                                                                                                                                                                • Individual Freedom
                                                                                                                                                                                                                                                • Write your ownhellip
                                                                                                                                                                                                                                                • Slide 82
                                                                                                                                                                                                                                                • TED Talk
                                                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                                                • What is Economics
                                                                                                                                                                                                                                                • Economics ishellip
                                                                                                                                                                                                                                                • Back to our assumptionshellip
                                                                                                                                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                • For the videohellip
                                                                                                                                                                                                                                                • Slide 90
                                                                                                                                                                                                                                                • Post Videohellip
                                                                                                                                                                                                                                                • Advertisement
                                                                                                                                                                                                                                                • Political Cartoon Analysis
                                                                                                                                                                                                                                                • Factors of Production
                                                                                                                                                                                                                                                • TASK
                                                                                                                                                                                                                                                • The price ofhellip
                                                                                                                                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                • 1 What to produce
                                                                                                                                                                                                                                                • 2 How to produce it
                                                                                                                                                                                                                                                • 3 For whom to produce it
                                                                                                                                                                                                                                                • Application Activity
                                                                                                                                                                                                                                                • EQs
                                                                                                                                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                                                                                                                                • Group Activity Budget Activity
                                                                                                                                                                                                                                                • Slide 105
                                                                                                                                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                                                                                                                                • How do we make goods amp services
                                                                                                                                                                                                                                                • Economic Interdependence
                                                                                                                                                                                                                                                • Slide 109
                                                                                                                                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                • Exampleshellip
                                                                                                                                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                • Opportunity Cost
                                                                                                                                                                                                                                                • What else influences your choices
                                                                                                                                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                • Production Possibilities Frontier
                                                                                                                                                                                                                                                • PPF Assumptions
                                                                                                                                                                                                                                                • Slide 121
                                                                                                                                                                                                                                                • Production Possibilities Curve
                                                                                                                                                                                                                                                • The Choices Nations Make
                                                                                                                                                                                                                                                • Economic Growth
                                                                                                                                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                                                                                                                                • Productivity
                                                                                                                                                                                                                                                • Locations on a PPF
                                                                                                                                                                                                                                                • Slide 128
                                                                                                                                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                • Economic Systems
                                                                                                                                                                                                                                                • Jigsaw activity
                                                                                                                                                                                                                                                • Slide 132
                                                                                                                                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                • Review of Economic Systems
                                                                                                                                                                                                                                                • Slide 135
                                                                                                                                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                                                                                                                                • Which economic system does the US use
                                                                                                                                                                                                                                                • The American Economic System
                                                                                                                                                                                                                                                • The US mixed economy
                                                                                                                                                                                                                                                • Slide 140
                                                                                                                                                                                                                                                • Think backhellip
                                                                                                                                                                                                                                                • US Economic System Characteristics
                                                                                                                                                                                                                                                • Slide 143
                                                                                                                                                                                                                                                • Understanding how all parts fit together
                                                                                                                                                                                                                                                • Marriage Vows
                                                                                                                                                                                                                                                • Do you remember
                                                                                                                                                                                                                                                • Slide 147

                                                                                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                                                                                  2000 production possibilities

                                                                                                                                                                                                                                                  1900 production possibilities

                                                                                                                                                                                                                                                  OU

                                                                                                                                                                                                                                                  TP

                                                                                                                                                                                                                                                  UT

                                                                                                                                                                                                                                                  OF

                                                                                                                                                                                                                                                  CO

                                                                                                                                                                                                                                                  NS

                                                                                                                                                                                                                                                  UM

                                                                                                                                                                                                                                                  ER

                                                                                                                                                                                                                                                  GO

                                                                                                                                                                                                                                                  OD

                                                                                                                                                                                                                                                  S(u

                                                                                                                                                                                                                                                  nits

                                                                                                                                                                                                                                                  per

                                                                                                                                                                                                                                                  yea

                                                                                                                                                                                                                                                  r)

                                                                                                                                                                                                                                                  OUTPUT OF MILITARY GOODS (units per year)

                                                                                                                                                                                                                                                  Production possibilities increases with more resources and technology

                                                                                                                                                                                                                                                  The Classic Guns and Butter example

                                                                                                                                                                                                                                                  Guns

                                                                                                                                                                                                                                                  Butter

                                                                                                                                                                                                                                                  10000 20000 30000 40000 50000

                                                                                                                                                                                                                                                  1000009500085000

                                                                                                                                                                                                                                                  70000

                                                                                                                                                                                                                                                  5000040000

                                                                                                                                                                                                                                                  BA

                                                                                                                                                                                                                                                  C

                                                                                                                                                                                                                                                  D

                                                                                                                                                                                                                                                  E

                                                                                                                                                                                                                                                  F

                                                                                                                                                                                                                                                  At point A all resources are used for butter

                                                                                                                                                                                                                                                  Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                                  At point F all resources are used for Guns

                                                                                                                                                                                                                                                  Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                                  choices are

                                                                                                                                                                                                                                                  bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                                  bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                                  Locations on a PPF

                                                                                                                                                                                                                                                  bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                                  bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                                  bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                                  Food

                                                                                                                                                                                                                                                  Computer

                                                                                                                                                                                                                                                  4

                                                                                                                                                                                                                                                  3

                                                                                                                                                                                                                                                  2

                                                                                                                                                                                                                                                  1

                                                                                                                                                                                                                                                  1 2 3 4

                                                                                                                                                                                                                                                  OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                                  UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                                  Unit

                                                                                                                                                                                                                                                  Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                                  additional computers

                                                                                                                                                                                                                                                  STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                                  BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                                  Principle of Increasing Costs

                                                                                                                                                                                                                                                  As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                                  that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                                  Economic Systems

                                                                                                                                                                                                                                                  An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                                  How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                                  Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                                  Jigsaw activity

                                                                                                                                                                                                                                                  bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                                  bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                                  bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                  bull Economic Freedom

                                                                                                                                                                                                                                                  bull Economic Efficiency

                                                                                                                                                                                                                                                  bull Economic Equity

                                                                                                                                                                                                                                                  bull Economic Security

                                                                                                                                                                                                                                                  Economic Stability

                                                                                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                                                                                  Review of Economic Systems

                                                                                                                                                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                  What are the most important goals of each economic system

                                                                                                                                                                                                                                                  bullTraditionalSecurity and

                                                                                                                                                                                                                                                  StabilitybullCommand

                                                                                                                                                                                                                                                  Equity and Security

                                                                                                                                                                                                                                                  bullMARKETEfficiency and

                                                                                                                                                                                                                                                  Freedom

                                                                                                                                                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                  Which economic system does the US use

                                                                                                                                                                                                                                                  The American Economic System

                                                                                                                                                                                                                                                  bullWe have a mixed market economy

                                                                                                                                                                                                                                                  COMMAND MARKET

                                                                                                                                                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                  Think backhellip

                                                                                                                                                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                  2 Limited government

                                                                                                                                                                                                                                                  3 Equal opportunity

                                                                                                                                                                                                                                                  4 Competition

                                                                                                                                                                                                                                                  5 Profit motive

                                                                                                                                                                                                                                                  6 Property Rights

                                                                                                                                                                                                                                                  7 Binding Contracts

                                                                                                                                                                                                                                                  Understanding how all parts fit together

                                                                                                                                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                  Shows interdependence between

                                                                                                                                                                                                                                                  businesses and individuals

                                                                                                                                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                  Do you remember

                                                                                                                                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                  democracy and mixed economy

                                                                                                                                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                                                                                                                                  • Slide 3
                                                                                                                                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                                                                                                                                  • Slide 6
                                                                                                                                                                                                                                                  • 2 How about to your life
                                                                                                                                                                                                                                                  • Slide 8
                                                                                                                                                                                                                                                  • Slide 9
                                                                                                                                                                                                                                                  • Slide 10
                                                                                                                                                                                                                                                  • Slide 11
                                                                                                                                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                                                                                                                                  • Individualism
                                                                                                                                                                                                                                                  • Quote activity
                                                                                                                                                                                                                                                  • Quote breakdown
                                                                                                                                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                  • Purpose of Government
                                                                                                                                                                                                                                                  • Slide 20
                                                                                                                                                                                                                                                  • 3 Theorists
                                                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                  • Groups Block 2
                                                                                                                                                                                                                                                  • Groups Block 4
                                                                                                                                                                                                                                                  • Balloon Game
                                                                                                                                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                                                                                                                                  • Political Theories
                                                                                                                                                                                                                                                  • Social Contract
                                                                                                                                                                                                                                                  • Natural Rights
                                                                                                                                                                                                                                                  • Democracy
                                                                                                                                                                                                                                                  • Concepts of Government
                                                                                                                                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                  • Warm Up 7
                                                                                                                                                                                                                                                  • And after the Constitution
                                                                                                                                                                                                                                                  • Activity (2)
                                                                                                                                                                                                                                                  • Picture Activity
                                                                                                                                                                                                                                                  • Constitutional Convention
                                                                                                                                                                                                                                                  • Purpose of the Convention
                                                                                                                                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                  • Your Task
                                                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                                                  • States agree
                                                                                                                                                                                                                                                  • Quote
                                                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                                                  • 6 Purpose of Government
                                                                                                                                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                                                                                                                                  • Principles of Constitution
                                                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                                                  • Slide 60
                                                                                                                                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                                                                                                                                  • Question 1
                                                                                                                                                                                                                                                  • Question 2
                                                                                                                                                                                                                                                  • Question 3
                                                                                                                                                                                                                                                  • Question 4
                                                                                                                                                                                                                                                  • Question 5
                                                                                                                                                                                                                                                  • Question 6
                                                                                                                                                                                                                                                  • Question 7
                                                                                                                                                                                                                                                  • Question 8
                                                                                                                                                                                                                                                  • Groups
                                                                                                                                                                                                                                                  • Separation of Powers
                                                                                                                                                                                                                                                  • Video
                                                                                                                                                                                                                                                  • Checks and Balances
                                                                                                                                                                                                                                                  • Slide 74
                                                                                                                                                                                                                                                  • Checks and balances
                                                                                                                                                                                                                                                  • Basic Principles
                                                                                                                                                                                                                                                  • Self- Worth
                                                                                                                                                                                                                                                  • Equality
                                                                                                                                                                                                                                                  • Compromise
                                                                                                                                                                                                                                                  • Individual Freedom
                                                                                                                                                                                                                                                  • Write your ownhellip
                                                                                                                                                                                                                                                  • Slide 82
                                                                                                                                                                                                                                                  • TED Talk
                                                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                                                  • What is Economics
                                                                                                                                                                                                                                                  • Economics ishellip
                                                                                                                                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                  • For the videohellip
                                                                                                                                                                                                                                                  • Slide 90
                                                                                                                                                                                                                                                  • Post Videohellip
                                                                                                                                                                                                                                                  • Advertisement
                                                                                                                                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                                                                                                                                  • Factors of Production
                                                                                                                                                                                                                                                  • TASK
                                                                                                                                                                                                                                                  • The price ofhellip
                                                                                                                                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                  • 1 What to produce
                                                                                                                                                                                                                                                  • 2 How to produce it
                                                                                                                                                                                                                                                  • 3 For whom to produce it
                                                                                                                                                                                                                                                  • Application Activity
                                                                                                                                                                                                                                                  • EQs
                                                                                                                                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                                                                                                                                  • Slide 105
                                                                                                                                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                                                                                                                                  • How do we make goods amp services
                                                                                                                                                                                                                                                  • Economic Interdependence
                                                                                                                                                                                                                                                  • Slide 109
                                                                                                                                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                  • Exampleshellip
                                                                                                                                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                  • Opportunity Cost
                                                                                                                                                                                                                                                  • What else influences your choices
                                                                                                                                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                                                                                                                                  • PPF Assumptions
                                                                                                                                                                                                                                                  • Slide 121
                                                                                                                                                                                                                                                  • Production Possibilities Curve
                                                                                                                                                                                                                                                  • The Choices Nations Make
                                                                                                                                                                                                                                                  • Economic Growth
                                                                                                                                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                                                                                                                                  • Productivity
                                                                                                                                                                                                                                                  • Locations on a PPF
                                                                                                                                                                                                                                                  • Slide 128
                                                                                                                                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                  • Economic Systems
                                                                                                                                                                                                                                                  • Jigsaw activity
                                                                                                                                                                                                                                                  • Slide 132
                                                                                                                                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                  • Review of Economic Systems
                                                                                                                                                                                                                                                  • Slide 135
                                                                                                                                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                                                                                                                                  • Which economic system does the US use
                                                                                                                                                                                                                                                  • The American Economic System
                                                                                                                                                                                                                                                  • The US mixed economy
                                                                                                                                                                                                                                                  • Slide 140
                                                                                                                                                                                                                                                  • Think backhellip
                                                                                                                                                                                                                                                  • US Economic System Characteristics
                                                                                                                                                                                                                                                  • Slide 143
                                                                                                                                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                                                                                                                                  • Marriage Vows
                                                                                                                                                                                                                                                  • Do you remember
                                                                                                                                                                                                                                                  • Slide 147

                                                                                                                                                                                                                                                    The Classic Guns and Butter example

                                                                                                                                                                                                                                                    Guns

                                                                                                                                                                                                                                                    Butter

                                                                                                                                                                                                                                                    10000 20000 30000 40000 50000

                                                                                                                                                                                                                                                    1000009500085000

                                                                                                                                                                                                                                                    70000

                                                                                                                                                                                                                                                    5000040000

                                                                                                                                                                                                                                                    BA

                                                                                                                                                                                                                                                    C

                                                                                                                                                                                                                                                    D

                                                                                                                                                                                                                                                    E

                                                                                                                                                                                                                                                    F

                                                                                                                                                                                                                                                    At point A all resources are used for butter

                                                                                                                                                                                                                                                    Moving from point A to point B requires shifting resources out of butter and into guns

                                                                                                                                                                                                                                                    At point F all resources are used for Guns

                                                                                                                                                                                                                                                    Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                                    choices are

                                                                                                                                                                                                                                                    bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                                    bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                                    Locations on a PPF

                                                                                                                                                                                                                                                    bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                                    bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                                    bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                                    Food

                                                                                                                                                                                                                                                    Computer

                                                                                                                                                                                                                                                    4

                                                                                                                                                                                                                                                    3

                                                                                                                                                                                                                                                    2

                                                                                                                                                                                                                                                    1

                                                                                                                                                                                                                                                    1 2 3 4

                                                                                                                                                                                                                                                    OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                                    UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                                    Unit

                                                                                                                                                                                                                                                    Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                                    additional computers

                                                                                                                                                                                                                                                    STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                                    BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                                    Principle of Increasing Costs

                                                                                                                                                                                                                                                    As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                                    that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                                    Economic Systems

                                                                                                                                                                                                                                                    An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                                    How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                                    Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                                    Jigsaw activity

                                                                                                                                                                                                                                                    bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                                    bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                                    bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                                    Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                    bull Economic Freedom

                                                                                                                                                                                                                                                    bull Economic Efficiency

                                                                                                                                                                                                                                                    bull Economic Equity

                                                                                                                                                                                                                                                    bull Economic Security

                                                                                                                                                                                                                                                    Economic Stability

                                                                                                                                                                                                                                                    Economic Growth

                                                                                                                                                                                                                                                    Review of Economic Systems

                                                                                                                                                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                    What are the most important goals of each economic system

                                                                                                                                                                                                                                                    bullTraditionalSecurity and

                                                                                                                                                                                                                                                    StabilitybullCommand

                                                                                                                                                                                                                                                    Equity and Security

                                                                                                                                                                                                                                                    bullMARKETEfficiency and

                                                                                                                                                                                                                                                    Freedom

                                                                                                                                                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                    Which economic system does the US use

                                                                                                                                                                                                                                                    The American Economic System

                                                                                                                                                                                                                                                    bullWe have a mixed market economy

                                                                                                                                                                                                                                                    COMMAND MARKET

                                                                                                                                                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                    Think backhellip

                                                                                                                                                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                    2 Limited government

                                                                                                                                                                                                                                                    3 Equal opportunity

                                                                                                                                                                                                                                                    4 Competition

                                                                                                                                                                                                                                                    5 Profit motive

                                                                                                                                                                                                                                                    6 Property Rights

                                                                                                                                                                                                                                                    7 Binding Contracts

                                                                                                                                                                                                                                                    Understanding how all parts fit together

                                                                                                                                                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                    Shows interdependence between

                                                                                                                                                                                                                                                    businesses and individuals

                                                                                                                                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                    Do you remember

                                                                                                                                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                    democracy and mixed economy

                                                                                                                                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                                                                                                                                    • Slide 3
                                                                                                                                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                                                                                                                                    • Slide 6
                                                                                                                                                                                                                                                    • 2 How about to your life
                                                                                                                                                                                                                                                    • Slide 8
                                                                                                                                                                                                                                                    • Slide 9
                                                                                                                                                                                                                                                    • Slide 10
                                                                                                                                                                                                                                                    • Slide 11
                                                                                                                                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                                                                                                                                    • Individualism
                                                                                                                                                                                                                                                    • Quote activity
                                                                                                                                                                                                                                                    • Quote breakdown
                                                                                                                                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                    • Purpose of Government
                                                                                                                                                                                                                                                    • Slide 20
                                                                                                                                                                                                                                                    • 3 Theorists
                                                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                    • Groups Block 2
                                                                                                                                                                                                                                                    • Groups Block 4
                                                                                                                                                                                                                                                    • Balloon Game
                                                                                                                                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                                                                                                                                    • Political Theories
                                                                                                                                                                                                                                                    • Social Contract
                                                                                                                                                                                                                                                    • Natural Rights
                                                                                                                                                                                                                                                    • Democracy
                                                                                                                                                                                                                                                    • Concepts of Government
                                                                                                                                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                    • Warm Up 7
                                                                                                                                                                                                                                                    • And after the Constitution
                                                                                                                                                                                                                                                    • Activity (2)
                                                                                                                                                                                                                                                    • Picture Activity
                                                                                                                                                                                                                                                    • Constitutional Convention
                                                                                                                                                                                                                                                    • Purpose of the Convention
                                                                                                                                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                    • Your Task
                                                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                                                    • States agree
                                                                                                                                                                                                                                                    • Quote
                                                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                                                    • 6 Purpose of Government
                                                                                                                                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                                                                                                                                    • Principles of Constitution
                                                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                                                    • Slide 60
                                                                                                                                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                                                                                                                                    • Question 1
                                                                                                                                                                                                                                                    • Question 2
                                                                                                                                                                                                                                                    • Question 3
                                                                                                                                                                                                                                                    • Question 4
                                                                                                                                                                                                                                                    • Question 5
                                                                                                                                                                                                                                                    • Question 6
                                                                                                                                                                                                                                                    • Question 7
                                                                                                                                                                                                                                                    • Question 8
                                                                                                                                                                                                                                                    • Groups
                                                                                                                                                                                                                                                    • Separation of Powers
                                                                                                                                                                                                                                                    • Video
                                                                                                                                                                                                                                                    • Checks and Balances
                                                                                                                                                                                                                                                    • Slide 74
                                                                                                                                                                                                                                                    • Checks and balances
                                                                                                                                                                                                                                                    • Basic Principles
                                                                                                                                                                                                                                                    • Self- Worth
                                                                                                                                                                                                                                                    • Equality
                                                                                                                                                                                                                                                    • Compromise
                                                                                                                                                                                                                                                    • Individual Freedom
                                                                                                                                                                                                                                                    • Write your ownhellip
                                                                                                                                                                                                                                                    • Slide 82
                                                                                                                                                                                                                                                    • TED Talk
                                                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                                                    • What is Economics
                                                                                                                                                                                                                                                    • Economics ishellip
                                                                                                                                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                    • For the videohellip
                                                                                                                                                                                                                                                    • Slide 90
                                                                                                                                                                                                                                                    • Post Videohellip
                                                                                                                                                                                                                                                    • Advertisement
                                                                                                                                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                                                                                                                                    • Factors of Production
                                                                                                                                                                                                                                                    • TASK
                                                                                                                                                                                                                                                    • The price ofhellip
                                                                                                                                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                    • 1 What to produce
                                                                                                                                                                                                                                                    • 2 How to produce it
                                                                                                                                                                                                                                                    • 3 For whom to produce it
                                                                                                                                                                                                                                                    • Application Activity
                                                                                                                                                                                                                                                    • EQs
                                                                                                                                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                                                                                                                                    • Slide 105
                                                                                                                                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                                                                                                                                    • How do we make goods amp services
                                                                                                                                                                                                                                                    • Economic Interdependence
                                                                                                                                                                                                                                                    • Slide 109
                                                                                                                                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                    • Exampleshellip
                                                                                                                                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                    • Opportunity Cost
                                                                                                                                                                                                                                                    • What else influences your choices
                                                                                                                                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                                                                                                                                    • PPF Assumptions
                                                                                                                                                                                                                                                    • Slide 121
                                                                                                                                                                                                                                                    • Production Possibilities Curve
                                                                                                                                                                                                                                                    • The Choices Nations Make
                                                                                                                                                                                                                                                    • Economic Growth
                                                                                                                                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                                                                                                                                    • Productivity
                                                                                                                                                                                                                                                    • Locations on a PPF
                                                                                                                                                                                                                                                    • Slide 128
                                                                                                                                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                    • Economic Systems
                                                                                                                                                                                                                                                    • Jigsaw activity
                                                                                                                                                                                                                                                    • Slide 132
                                                                                                                                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                    • Review of Economic Systems
                                                                                                                                                                                                                                                    • Slide 135
                                                                                                                                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                                                                                                                                    • Which economic system does the US use
                                                                                                                                                                                                                                                    • The American Economic System
                                                                                                                                                                                                                                                    • The US mixed economy
                                                                                                                                                                                                                                                    • Slide 140
                                                                                                                                                                                                                                                    • Think backhellip
                                                                                                                                                                                                                                                    • US Economic System Characteristics
                                                                                                                                                                                                                                                    • Slide 143
                                                                                                                                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                                                                                                                                    • Marriage Vows
                                                                                                                                                                                                                                                    • Do you remember
                                                                                                                                                                                                                                                    • Slide 147

                                                                                                                                                                                                                                                      Productivitybull A PPF can help us see how efficient our

                                                                                                                                                                                                                                                      choices are

                                                                                                                                                                                                                                                      bull Productivity - measurement of how efficiently we are utilizing our resources Is this the same as production

                                                                                                                                                                                                                                                      bull An economy producing on the curve = using their resources to produce the MAXIMUM amount of goodsservices

                                                                                                                                                                                                                                                      Locations on a PPF

                                                                                                                                                                                                                                                      bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                                      bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                                      bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                                      Food

                                                                                                                                                                                                                                                      Computer

                                                                                                                                                                                                                                                      4

                                                                                                                                                                                                                                                      3

                                                                                                                                                                                                                                                      2

                                                                                                                                                                                                                                                      1

                                                                                                                                                                                                                                                      1 2 3 4

                                                                                                                                                                                                                                                      OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                                      UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                                      Unit

                                                                                                                                                                                                                                                      Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                                      additional computers

                                                                                                                                                                                                                                                      STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                                      BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                                      Principle of Increasing Costs

                                                                                                                                                                                                                                                      As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                                      that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                                      Economic Systems

                                                                                                                                                                                                                                                      An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                                      How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                                      Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                                      Jigsaw activity

                                                                                                                                                                                                                                                      bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                                      bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                                      bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                                      Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                      bull Economic Freedom

                                                                                                                                                                                                                                                      bull Economic Efficiency

                                                                                                                                                                                                                                                      bull Economic Equity

                                                                                                                                                                                                                                                      bull Economic Security

                                                                                                                                                                                                                                                      Economic Stability

                                                                                                                                                                                                                                                      Economic Growth

                                                                                                                                                                                                                                                      Review of Economic Systems

                                                                                                                                                                                                                                                      bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                      bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                      bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                      What are the most important goals of each economic system

                                                                                                                                                                                                                                                      bullTraditionalSecurity and

                                                                                                                                                                                                                                                      StabilitybullCommand

                                                                                                                                                                                                                                                      Equity and Security

                                                                                                                                                                                                                                                      bullMARKETEfficiency and

                                                                                                                                                                                                                                                      Freedom

                                                                                                                                                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                      Which economic system does the US use

                                                                                                                                                                                                                                                      The American Economic System

                                                                                                                                                                                                                                                      bullWe have a mixed market economy

                                                                                                                                                                                                                                                      COMMAND MARKET

                                                                                                                                                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                      Think backhellip

                                                                                                                                                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                      2 Limited government

                                                                                                                                                                                                                                                      3 Equal opportunity

                                                                                                                                                                                                                                                      4 Competition

                                                                                                                                                                                                                                                      5 Profit motive

                                                                                                                                                                                                                                                      6 Property Rights

                                                                                                                                                                                                                                                      7 Binding Contracts

                                                                                                                                                                                                                                                      Understanding how all parts fit together

                                                                                                                                                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                      Shows interdependence between

                                                                                                                                                                                                                                                      businesses and individuals

                                                                                                                                                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                      Do you remember

                                                                                                                                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                      democracy and mixed economy

                                                                                                                                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                                                                                                                                      • Slide 3
                                                                                                                                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                                                                                                                                      • Slide 6
                                                                                                                                                                                                                                                      • 2 How about to your life
                                                                                                                                                                                                                                                      • Slide 8
                                                                                                                                                                                                                                                      • Slide 9
                                                                                                                                                                                                                                                      • Slide 10
                                                                                                                                                                                                                                                      • Slide 11
                                                                                                                                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                                                                                                                                      • Individualism
                                                                                                                                                                                                                                                      • Quote activity
                                                                                                                                                                                                                                                      • Quote breakdown
                                                                                                                                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                      • Purpose of Government
                                                                                                                                                                                                                                                      • Slide 20
                                                                                                                                                                                                                                                      • 3 Theorists
                                                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                      • Groups Block 2
                                                                                                                                                                                                                                                      • Groups Block 4
                                                                                                                                                                                                                                                      • Balloon Game
                                                                                                                                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                                                                                                                                      • Political Theories
                                                                                                                                                                                                                                                      • Social Contract
                                                                                                                                                                                                                                                      • Natural Rights
                                                                                                                                                                                                                                                      • Democracy
                                                                                                                                                                                                                                                      • Concepts of Government
                                                                                                                                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                      • Warm Up 7
                                                                                                                                                                                                                                                      • And after the Constitution
                                                                                                                                                                                                                                                      • Activity (2)
                                                                                                                                                                                                                                                      • Picture Activity
                                                                                                                                                                                                                                                      • Constitutional Convention
                                                                                                                                                                                                                                                      • Purpose of the Convention
                                                                                                                                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                      • Your Task
                                                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                                                      • States agree
                                                                                                                                                                                                                                                      • Quote
                                                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                                                      • 6 Purpose of Government
                                                                                                                                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                                                                                                                                      • Principles of Constitution
                                                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                                                      • Slide 60
                                                                                                                                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                                                                                                                                      • Question 1
                                                                                                                                                                                                                                                      • Question 2
                                                                                                                                                                                                                                                      • Question 3
                                                                                                                                                                                                                                                      • Question 4
                                                                                                                                                                                                                                                      • Question 5
                                                                                                                                                                                                                                                      • Question 6
                                                                                                                                                                                                                                                      • Question 7
                                                                                                                                                                                                                                                      • Question 8
                                                                                                                                                                                                                                                      • Groups
                                                                                                                                                                                                                                                      • Separation of Powers
                                                                                                                                                                                                                                                      • Video
                                                                                                                                                                                                                                                      • Checks and Balances
                                                                                                                                                                                                                                                      • Slide 74
                                                                                                                                                                                                                                                      • Checks and balances
                                                                                                                                                                                                                                                      • Basic Principles
                                                                                                                                                                                                                                                      • Self- Worth
                                                                                                                                                                                                                                                      • Equality
                                                                                                                                                                                                                                                      • Compromise
                                                                                                                                                                                                                                                      • Individual Freedom
                                                                                                                                                                                                                                                      • Write your ownhellip
                                                                                                                                                                                                                                                      • Slide 82
                                                                                                                                                                                                                                                      • TED Talk
                                                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                                                      • What is Economics
                                                                                                                                                                                                                                                      • Economics ishellip
                                                                                                                                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                      • For the videohellip
                                                                                                                                                                                                                                                      • Slide 90
                                                                                                                                                                                                                                                      • Post Videohellip
                                                                                                                                                                                                                                                      • Advertisement
                                                                                                                                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                                                                                                                                      • Factors of Production
                                                                                                                                                                                                                                                      • TASK
                                                                                                                                                                                                                                                      • The price ofhellip
                                                                                                                                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                      • 1 What to produce
                                                                                                                                                                                                                                                      • 2 How to produce it
                                                                                                                                                                                                                                                      • 3 For whom to produce it
                                                                                                                                                                                                                                                      • Application Activity
                                                                                                                                                                                                                                                      • EQs
                                                                                                                                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                                                                                                                                      • Slide 105
                                                                                                                                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                                                                                                                                      • How do we make goods amp services
                                                                                                                                                                                                                                                      • Economic Interdependence
                                                                                                                                                                                                                                                      • Slide 109
                                                                                                                                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                      • Exampleshellip
                                                                                                                                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                      • Opportunity Cost
                                                                                                                                                                                                                                                      • What else influences your choices
                                                                                                                                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                                                                                                                                      • PPF Assumptions
                                                                                                                                                                                                                                                      • Slide 121
                                                                                                                                                                                                                                                      • Production Possibilities Curve
                                                                                                                                                                                                                                                      • The Choices Nations Make
                                                                                                                                                                                                                                                      • Economic Growth
                                                                                                                                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                                                                                                                                      • Productivity
                                                                                                                                                                                                                                                      • Locations on a PPF
                                                                                                                                                                                                                                                      • Slide 128
                                                                                                                                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                      • Economic Systems
                                                                                                                                                                                                                                                      • Jigsaw activity
                                                                                                                                                                                                                                                      • Slide 132
                                                                                                                                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                      • Review of Economic Systems
                                                                                                                                                                                                                                                      • Slide 135
                                                                                                                                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                                                                                                                                      • Which economic system does the US use
                                                                                                                                                                                                                                                      • The American Economic System
                                                                                                                                                                                                                                                      • The US mixed economy
                                                                                                                                                                                                                                                      • Slide 140
                                                                                                                                                                                                                                                      • Think backhellip
                                                                                                                                                                                                                                                      • US Economic System Characteristics
                                                                                                                                                                                                                                                      • Slide 143
                                                                                                                                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                                                                                                                                      • Marriage Vows
                                                                                                                                                                                                                                                      • Do you remember
                                                                                                                                                                                                                                                      • Slide 147

                                                                                                                                                                                                                                                        Locations on a PPF

                                                                                                                                                                                                                                                        bull Efficient Point place where an economy is achieving as much output as possible from a given amount of resources ndash occurs at any point on the curve

                                                                                                                                                                                                                                                        bull Inefficient Point ndash place where the economy is not functioning as it could be ndash occurs at any point inside the curve

                                                                                                                                                                                                                                                        bull Unattainable Point ndash place where the economy cannot produce given its current resources ndash occurs at any point outside the curve

                                                                                                                                                                                                                                                        Food

                                                                                                                                                                                                                                                        Computer

                                                                                                                                                                                                                                                        4

                                                                                                                                                                                                                                                        3

                                                                                                                                                                                                                                                        2

                                                                                                                                                                                                                                                        1

                                                                                                                                                                                                                                                        1 2 3 4

                                                                                                                                                                                                                                                        OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                                        UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                                        Unit

                                                                                                                                                                                                                                                        Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                                        additional computers

                                                                                                                                                                                                                                                        STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                                        BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                                        Principle of Increasing Costs

                                                                                                                                                                                                                                                        As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                                        that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                                        Economic Systems

                                                                                                                                                                                                                                                        An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                                        How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                                        Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                                        Jigsaw activity

                                                                                                                                                                                                                                                        bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                                        bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                                        bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                                        Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                        bull Economic Freedom

                                                                                                                                                                                                                                                        bull Economic Efficiency

                                                                                                                                                                                                                                                        bull Economic Equity

                                                                                                                                                                                                                                                        bull Economic Security

                                                                                                                                                                                                                                                        Economic Stability

                                                                                                                                                                                                                                                        Economic Growth

                                                                                                                                                                                                                                                        Review of Economic Systems

                                                                                                                                                                                                                                                        bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                        bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                        bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                        What are the most important goals of each economic system

                                                                                                                                                                                                                                                        bullTraditionalSecurity and

                                                                                                                                                                                                                                                        StabilitybullCommand

                                                                                                                                                                                                                                                        Equity and Security

                                                                                                                                                                                                                                                        bullMARKETEfficiency and

                                                                                                                                                                                                                                                        Freedom

                                                                                                                                                                                                                                                        Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                        at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                        Which economic system does the US use

                                                                                                                                                                                                                                                        The American Economic System

                                                                                                                                                                                                                                                        bullWe have a mixed market economy

                                                                                                                                                                                                                                                        COMMAND MARKET

                                                                                                                                                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                        Think backhellip

                                                                                                                                                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                        2 Limited government

                                                                                                                                                                                                                                                        3 Equal opportunity

                                                                                                                                                                                                                                                        4 Competition

                                                                                                                                                                                                                                                        5 Profit motive

                                                                                                                                                                                                                                                        6 Property Rights

                                                                                                                                                                                                                                                        7 Binding Contracts

                                                                                                                                                                                                                                                        Understanding how all parts fit together

                                                                                                                                                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                        Shows interdependence between

                                                                                                                                                                                                                                                        businesses and individuals

                                                                                                                                                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                        Do you remember

                                                                                                                                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                        democracy and mixed economy

                                                                                                                                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                                                                                                                                        • Slide 3
                                                                                                                                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                                                                                                                                        • Slide 6
                                                                                                                                                                                                                                                        • 2 How about to your life
                                                                                                                                                                                                                                                        • Slide 8
                                                                                                                                                                                                                                                        • Slide 9
                                                                                                                                                                                                                                                        • Slide 10
                                                                                                                                                                                                                                                        • Slide 11
                                                                                                                                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                                                                                                                                        • Individualism
                                                                                                                                                                                                                                                        • Quote activity
                                                                                                                                                                                                                                                        • Quote breakdown
                                                                                                                                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                        • Purpose of Government
                                                                                                                                                                                                                                                        • Slide 20
                                                                                                                                                                                                                                                        • 3 Theorists
                                                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                        • Groups Block 2
                                                                                                                                                                                                                                                        • Groups Block 4
                                                                                                                                                                                                                                                        • Balloon Game
                                                                                                                                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                                                                                                                                        • Political Theories
                                                                                                                                                                                                                                                        • Social Contract
                                                                                                                                                                                                                                                        • Natural Rights
                                                                                                                                                                                                                                                        • Democracy
                                                                                                                                                                                                                                                        • Concepts of Government
                                                                                                                                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                        • Warm Up 7
                                                                                                                                                                                                                                                        • And after the Constitution
                                                                                                                                                                                                                                                        • Activity (2)
                                                                                                                                                                                                                                                        • Picture Activity
                                                                                                                                                                                                                                                        • Constitutional Convention
                                                                                                                                                                                                                                                        • Purpose of the Convention
                                                                                                                                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                        • Your Task
                                                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                                                        • States agree
                                                                                                                                                                                                                                                        • Quote
                                                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                                                        • 6 Purpose of Government
                                                                                                                                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                                                                                                                                        • Principles of Constitution
                                                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                                                        • Slide 60
                                                                                                                                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                                                                                                                                        • Question 1
                                                                                                                                                                                                                                                        • Question 2
                                                                                                                                                                                                                                                        • Question 3
                                                                                                                                                                                                                                                        • Question 4
                                                                                                                                                                                                                                                        • Question 5
                                                                                                                                                                                                                                                        • Question 6
                                                                                                                                                                                                                                                        • Question 7
                                                                                                                                                                                                                                                        • Question 8
                                                                                                                                                                                                                                                        • Groups
                                                                                                                                                                                                                                                        • Separation of Powers
                                                                                                                                                                                                                                                        • Video
                                                                                                                                                                                                                                                        • Checks and Balances
                                                                                                                                                                                                                                                        • Slide 74
                                                                                                                                                                                                                                                        • Checks and balances
                                                                                                                                                                                                                                                        • Basic Principles
                                                                                                                                                                                                                                                        • Self- Worth
                                                                                                                                                                                                                                                        • Equality
                                                                                                                                                                                                                                                        • Compromise
                                                                                                                                                                                                                                                        • Individual Freedom
                                                                                                                                                                                                                                                        • Write your ownhellip
                                                                                                                                                                                                                                                        • Slide 82
                                                                                                                                                                                                                                                        • TED Talk
                                                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                                                        • What is Economics
                                                                                                                                                                                                                                                        • Economics ishellip
                                                                                                                                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                        • For the videohellip
                                                                                                                                                                                                                                                        • Slide 90
                                                                                                                                                                                                                                                        • Post Videohellip
                                                                                                                                                                                                                                                        • Advertisement
                                                                                                                                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                                                                                                                                        • Factors of Production
                                                                                                                                                                                                                                                        • TASK
                                                                                                                                                                                                                                                        • The price ofhellip
                                                                                                                                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                        • 1 What to produce
                                                                                                                                                                                                                                                        • 2 How to produce it
                                                                                                                                                                                                                                                        • 3 For whom to produce it
                                                                                                                                                                                                                                                        • Application Activity
                                                                                                                                                                                                                                                        • EQs
                                                                                                                                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                                                                                                                                        • Slide 105
                                                                                                                                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                                                                                                                                        • How do we make goods amp services
                                                                                                                                                                                                                                                        • Economic Interdependence
                                                                                                                                                                                                                                                        • Slide 109
                                                                                                                                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                        • Exampleshellip
                                                                                                                                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                        • Opportunity Cost
                                                                                                                                                                                                                                                        • What else influences your choices
                                                                                                                                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                                                                                                                                        • PPF Assumptions
                                                                                                                                                                                                                                                        • Slide 121
                                                                                                                                                                                                                                                        • Production Possibilities Curve
                                                                                                                                                                                                                                                        • The Choices Nations Make
                                                                                                                                                                                                                                                        • Economic Growth
                                                                                                                                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                                                                                                                                        • Productivity
                                                                                                                                                                                                                                                        • Locations on a PPF
                                                                                                                                                                                                                                                        • Slide 128
                                                                                                                                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                        • Economic Systems
                                                                                                                                                                                                                                                        • Jigsaw activity
                                                                                                                                                                                                                                                        • Slide 132
                                                                                                                                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                        • Review of Economic Systems
                                                                                                                                                                                                                                                        • Slide 135
                                                                                                                                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                                                                                                                                        • Which economic system does the US use
                                                                                                                                                                                                                                                        • The American Economic System
                                                                                                                                                                                                                                                        • The US mixed economy
                                                                                                                                                                                                                                                        • Slide 140
                                                                                                                                                                                                                                                        • Think backhellip
                                                                                                                                                                                                                                                        • US Economic System Characteristics
                                                                                                                                                                                                                                                        • Slide 143
                                                                                                                                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                                                                                                                                        • Marriage Vows
                                                                                                                                                                                                                                                        • Do you remember
                                                                                                                                                                                                                                                        • Slide 147

                                                                                                                                                                                                                                                          Food

                                                                                                                                                                                                                                                          Computer

                                                                                                                                                                                                                                                          4

                                                                                                                                                                                                                                                          3

                                                                                                                                                                                                                                                          2

                                                                                                                                                                                                                                                          1

                                                                                                                                                                                                                                                          1 2 3 4

                                                                                                                                                                                                                                                          OC between 1 and 2 computers = 1 Food

                                                                                                                                                                                                                                                          UnitOC between 3 and 4 computers = 1 Food

                                                                                                                                                                                                                                                          Unit

                                                                                                                                                                                                                                                          Constantly giving up the same quantity of food to get

                                                                                                                                                                                                                                                          additional computers

                                                                                                                                                                                                                                                          STRAIGHT-LINE PPFs Constant OC

                                                                                                                                                                                                                                                          BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                                          Principle of Increasing Costs

                                                                                                                                                                                                                                                          As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                                          that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                                          Economic Systems

                                                                                                                                                                                                                                                          An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                                          How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                                          Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                                          Jigsaw activity

                                                                                                                                                                                                                                                          bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                                          bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                                          bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                                          Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                          bull Economic Freedom

                                                                                                                                                                                                                                                          bull Economic Efficiency

                                                                                                                                                                                                                                                          bull Economic Equity

                                                                                                                                                                                                                                                          bull Economic Security

                                                                                                                                                                                                                                                          Economic Stability

                                                                                                                                                                                                                                                          Economic Growth

                                                                                                                                                                                                                                                          Review of Economic Systems

                                                                                                                                                                                                                                                          bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                          bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                          bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                          What are the most important goals of each economic system

                                                                                                                                                                                                                                                          bullTraditionalSecurity and

                                                                                                                                                                                                                                                          StabilitybullCommand

                                                                                                                                                                                                                                                          Equity and Security

                                                                                                                                                                                                                                                          bullMARKETEfficiency and

                                                                                                                                                                                                                                                          Freedom

                                                                                                                                                                                                                                                          Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                          at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                          Which economic system does the US use

                                                                                                                                                                                                                                                          The American Economic System

                                                                                                                                                                                                                                                          bullWe have a mixed market economy

                                                                                                                                                                                                                                                          COMMAND MARKET

                                                                                                                                                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                          Think backhellip

                                                                                                                                                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                          2 Limited government

                                                                                                                                                                                                                                                          3 Equal opportunity

                                                                                                                                                                                                                                                          4 Competition

                                                                                                                                                                                                                                                          5 Profit motive

                                                                                                                                                                                                                                                          6 Property Rights

                                                                                                                                                                                                                                                          7 Binding Contracts

                                                                                                                                                                                                                                                          Understanding how all parts fit together

                                                                                                                                                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                          Shows interdependence between

                                                                                                                                                                                                                                                          businesses and individuals

                                                                                                                                                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                          Do you remember

                                                                                                                                                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                          democracy and mixed economy

                                                                                                                                                                                                                                                          • Foundations of Government and Economics
                                                                                                                                                                                                                                                          • On your blank piece of paperhellip
                                                                                                                                                                                                                                                          • Slide 3
                                                                                                                                                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                          • Introductory thoughts hellip
                                                                                                                                                                                                                                                          • Slide 6
                                                                                                                                                                                                                                                          • 2 How about to your life
                                                                                                                                                                                                                                                          • Slide 8
                                                                                                                                                                                                                                                          • Slide 9
                                                                                                                                                                                                                                                          • Slide 10
                                                                                                                                                                                                                                                          • Slide 11
                                                                                                                                                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                          • Economist and Politician Assumptions
                                                                                                                                                                                                                                                          • Individualism
                                                                                                                                                                                                                                                          • Quote activity
                                                                                                                                                                                                                                                          • Quote breakdown
                                                                                                                                                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                          • Purpose of Government
                                                                                                                                                                                                                                                          • Slide 20
                                                                                                                                                                                                                                                          • 3 Theorists
                                                                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                                                                          • Origins of American Government A customized government
                                                                                                                                                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                          • With which theory do you agree more Why
                                                                                                                                                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                          • Groups Block 2
                                                                                                                                                                                                                                                          • Groups Block 4
                                                                                                                                                                                                                                                          • Balloon Game
                                                                                                                                                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                          • Balloon Game Debriefing
                                                                                                                                                                                                                                                          • Political Theories
                                                                                                                                                                                                                                                          • Social Contract
                                                                                                                                                                                                                                                          • Natural Rights
                                                                                                                                                                                                                                                          • Democracy
                                                                                                                                                                                                                                                          • Concepts of Government
                                                                                                                                                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                          • Warm Up 7
                                                                                                                                                                                                                                                          • And after the Constitution
                                                                                                                                                                                                                                                          • Activity (2)
                                                                                                                                                                                                                                                          • Picture Activity
                                                                                                                                                                                                                                                          • Constitutional Convention
                                                                                                                                                                                                                                                          • Purpose of the Convention
                                                                                                                                                                                                                                                          • VA Plan v NJ Plan
                                                                                                                                                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                          • Your Task
                                                                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                                                                          • States agree
                                                                                                                                                                                                                                                          • Quote
                                                                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                                                                          • 6 Purpose of Government
                                                                                                                                                                                                                                                          • Structure of Constitution (2)
                                                                                                                                                                                                                                                          • Structure of Constitution (3)
                                                                                                                                                                                                                                                          • Principles of Constitution
                                                                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                                                                          • Slide 60
                                                                                                                                                                                                                                                          • Check for Understanding Six Principles
                                                                                                                                                                                                                                                          • Question 1
                                                                                                                                                                                                                                                          • Question 2
                                                                                                                                                                                                                                                          • Question 3
                                                                                                                                                                                                                                                          • Question 4
                                                                                                                                                                                                                                                          • Question 5
                                                                                                                                                                                                                                                          • Question 6
                                                                                                                                                                                                                                                          • Question 7
                                                                                                                                                                                                                                                          • Question 8
                                                                                                                                                                                                                                                          • Groups
                                                                                                                                                                                                                                                          • Separation of Powers
                                                                                                                                                                                                                                                          • Video
                                                                                                                                                                                                                                                          • Checks and Balances
                                                                                                                                                                                                                                                          • Slide 74
                                                                                                                                                                                                                                                          • Checks and balances
                                                                                                                                                                                                                                                          • Basic Principles
                                                                                                                                                                                                                                                          • Self- Worth
                                                                                                                                                                                                                                                          • Equality
                                                                                                                                                                                                                                                          • Compromise
                                                                                                                                                                                                                                                          • Individual Freedom
                                                                                                                                                                                                                                                          • Write your ownhellip
                                                                                                                                                                                                                                                          • Slide 82
                                                                                                                                                                                                                                                          • TED Talk
                                                                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                                                                          • What is Economics
                                                                                                                                                                                                                                                          • Economics ishellip
                                                                                                                                                                                                                                                          • Back to our assumptionshellip
                                                                                                                                                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                          • For the videohellip
                                                                                                                                                                                                                                                          • Slide 90
                                                                                                                                                                                                                                                          • Post Videohellip
                                                                                                                                                                                                                                                          • Advertisement
                                                                                                                                                                                                                                                          • Political Cartoon Analysis
                                                                                                                                                                                                                                                          • Factors of Production
                                                                                                                                                                                                                                                          • TASK
                                                                                                                                                                                                                                                          • The price ofhellip
                                                                                                                                                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                          • 1 What to produce
                                                                                                                                                                                                                                                          • 2 How to produce it
                                                                                                                                                                                                                                                          • 3 For whom to produce it
                                                                                                                                                                                                                                                          • Application Activity
                                                                                                                                                                                                                                                          • EQs
                                                                                                                                                                                                                                                          • Objectives amp Essential Questions
                                                                                                                                                                                                                                                          • Group Activity Budget Activity
                                                                                                                                                                                                                                                          • Slide 105
                                                                                                                                                                                                                                                          • How do we satisfy our economic wants
                                                                                                                                                                                                                                                          • How do we make goods amp services
                                                                                                                                                                                                                                                          • Economic Interdependence
                                                                                                                                                                                                                                                          • Slide 109
                                                                                                                                                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                          • Exampleshellip
                                                                                                                                                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                          • Opportunity Cost
                                                                                                                                                                                                                                                          • What else influences your choices
                                                                                                                                                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                          • ObjectivesEssential Questions
                                                                                                                                                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                          • Production Possibilities Frontier
                                                                                                                                                                                                                                                          • PPF Assumptions
                                                                                                                                                                                                                                                          • Slide 121
                                                                                                                                                                                                                                                          • Production Possibilities Curve
                                                                                                                                                                                                                                                          • The Choices Nations Make
                                                                                                                                                                                                                                                          • Economic Growth
                                                                                                                                                                                                                                                          • The Classic Guns and Butter example
                                                                                                                                                                                                                                                          • Productivity
                                                                                                                                                                                                                                                          • Locations on a PPF
                                                                                                                                                                                                                                                          • Slide 128
                                                                                                                                                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                          • Economic Systems
                                                                                                                                                                                                                                                          • Jigsaw activity
                                                                                                                                                                                                                                                          • Slide 132
                                                                                                                                                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                          • Review of Economic Systems
                                                                                                                                                                                                                                                          • Slide 135
                                                                                                                                                                                                                                                          • What are the most important goals of each economic system
                                                                                                                                                                                                                                                          • Which economic system does the US use
                                                                                                                                                                                                                                                          • The American Economic System
                                                                                                                                                                                                                                                          • The US mixed economy
                                                                                                                                                                                                                                                          • Slide 140
                                                                                                                                                                                                                                                          • Think backhellip
                                                                                                                                                                                                                                                          • US Economic System Characteristics
                                                                                                                                                                                                                                                          • Slide 143
                                                                                                                                                                                                                                                          • Understanding how all parts fit together
                                                                                                                                                                                                                                                          • Marriage Vows
                                                                                                                                                                                                                                                          • Do you remember
                                                                                                                                                                                                                                                          • Slide 147

                                                                                                                                                                                                                                                            BOWED-OUT PPFs VaryingIncreasing OC

                                                                                                                                                                                                                                                            Principle of Increasing Costs

                                                                                                                                                                                                                                                            As a society produces more of one product the OC of producing

                                                                                                                                                                                                                                                            that product increases because we are using more resources that are poorly suited to produce it

                                                                                                                                                                                                                                                            Economic Systems

                                                                                                                                                                                                                                                            An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                                            How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                                            Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                                            Jigsaw activity

                                                                                                                                                                                                                                                            bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                                            bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                                            bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                                            Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                            bull Economic Freedom

                                                                                                                                                                                                                                                            bull Economic Efficiency

                                                                                                                                                                                                                                                            bull Economic Equity

                                                                                                                                                                                                                                                            bull Economic Security

                                                                                                                                                                                                                                                            Economic Stability

                                                                                                                                                                                                                                                            Economic Growth

                                                                                                                                                                                                                                                            Review of Economic Systems

                                                                                                                                                                                                                                                            bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                            bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                            bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                            What are the most important goals of each economic system

                                                                                                                                                                                                                                                            bullTraditionalSecurity and

                                                                                                                                                                                                                                                            StabilitybullCommand

                                                                                                                                                                                                                                                            Equity and Security

                                                                                                                                                                                                                                                            bullMARKETEfficiency and

                                                                                                                                                                                                                                                            Freedom

                                                                                                                                                                                                                                                            Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                            at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                            Which economic system does the US use

                                                                                                                                                                                                                                                            The American Economic System

                                                                                                                                                                                                                                                            bullWe have a mixed market economy

                                                                                                                                                                                                                                                            COMMAND MARKET

                                                                                                                                                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                            Think backhellip

                                                                                                                                                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                            2 Limited government

                                                                                                                                                                                                                                                            3 Equal opportunity

                                                                                                                                                                                                                                                            4 Competition

                                                                                                                                                                                                                                                            5 Profit motive

                                                                                                                                                                                                                                                            6 Property Rights

                                                                                                                                                                                                                                                            7 Binding Contracts

                                                                                                                                                                                                                                                            Understanding how all parts fit together

                                                                                                                                                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                            Shows interdependence between

                                                                                                                                                                                                                                                            businesses and individuals

                                                                                                                                                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                            Do you remember

                                                                                                                                                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                            democracy and mixed economy

                                                                                                                                                                                                                                                            • Foundations of Government and Economics
                                                                                                                                                                                                                                                            • On your blank piece of paperhellip
                                                                                                                                                                                                                                                            • Slide 3
                                                                                                                                                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                            • Introductory thoughts hellip
                                                                                                                                                                                                                                                            • Slide 6
                                                                                                                                                                                                                                                            • 2 How about to your life
                                                                                                                                                                                                                                                            • Slide 8
                                                                                                                                                                                                                                                            • Slide 9
                                                                                                                                                                                                                                                            • Slide 10
                                                                                                                                                                                                                                                            • Slide 11
                                                                                                                                                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                            • Economist and Politician Assumptions
                                                                                                                                                                                                                                                            • Individualism
                                                                                                                                                                                                                                                            • Quote activity
                                                                                                                                                                                                                                                            • Quote breakdown
                                                                                                                                                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                            • Purpose of Government
                                                                                                                                                                                                                                                            • Slide 20
                                                                                                                                                                                                                                                            • 3 Theorists
                                                                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                                                                            • Origins of American Government A customized government
                                                                                                                                                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                            • With which theory do you agree more Why
                                                                                                                                                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                            • Groups Block 2
                                                                                                                                                                                                                                                            • Groups Block 4
                                                                                                                                                                                                                                                            • Balloon Game
                                                                                                                                                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                            • Balloon Game Debriefing
                                                                                                                                                                                                                                                            • Political Theories
                                                                                                                                                                                                                                                            • Social Contract
                                                                                                                                                                                                                                                            • Natural Rights
                                                                                                                                                                                                                                                            • Democracy
                                                                                                                                                                                                                                                            • Concepts of Government
                                                                                                                                                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                            • Warm Up 7
                                                                                                                                                                                                                                                            • And after the Constitution
                                                                                                                                                                                                                                                            • Activity (2)
                                                                                                                                                                                                                                                            • Picture Activity
                                                                                                                                                                                                                                                            • Constitutional Convention
                                                                                                                                                                                                                                                            • Purpose of the Convention
                                                                                                                                                                                                                                                            • VA Plan v NJ Plan
                                                                                                                                                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                            • Your Task
                                                                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                                                                            • States agree
                                                                                                                                                                                                                                                            • Quote
                                                                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                                                                            • 6 Purpose of Government
                                                                                                                                                                                                                                                            • Structure of Constitution (2)
                                                                                                                                                                                                                                                            • Structure of Constitution (3)
                                                                                                                                                                                                                                                            • Principles of Constitution
                                                                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                                                                            • Slide 60
                                                                                                                                                                                                                                                            • Check for Understanding Six Principles
                                                                                                                                                                                                                                                            • Question 1
                                                                                                                                                                                                                                                            • Question 2
                                                                                                                                                                                                                                                            • Question 3
                                                                                                                                                                                                                                                            • Question 4
                                                                                                                                                                                                                                                            • Question 5
                                                                                                                                                                                                                                                            • Question 6
                                                                                                                                                                                                                                                            • Question 7
                                                                                                                                                                                                                                                            • Question 8
                                                                                                                                                                                                                                                            • Groups
                                                                                                                                                                                                                                                            • Separation of Powers
                                                                                                                                                                                                                                                            • Video
                                                                                                                                                                                                                                                            • Checks and Balances
                                                                                                                                                                                                                                                            • Slide 74
                                                                                                                                                                                                                                                            • Checks and balances
                                                                                                                                                                                                                                                            • Basic Principles
                                                                                                                                                                                                                                                            • Self- Worth
                                                                                                                                                                                                                                                            • Equality
                                                                                                                                                                                                                                                            • Compromise
                                                                                                                                                                                                                                                            • Individual Freedom
                                                                                                                                                                                                                                                            • Write your ownhellip
                                                                                                                                                                                                                                                            • Slide 82
                                                                                                                                                                                                                                                            • TED Talk
                                                                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                                                                            • What is Economics
                                                                                                                                                                                                                                                            • Economics ishellip
                                                                                                                                                                                                                                                            • Back to our assumptionshellip
                                                                                                                                                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                            • For the videohellip
                                                                                                                                                                                                                                                            • Slide 90
                                                                                                                                                                                                                                                            • Post Videohellip
                                                                                                                                                                                                                                                            • Advertisement
                                                                                                                                                                                                                                                            • Political Cartoon Analysis
                                                                                                                                                                                                                                                            • Factors of Production
                                                                                                                                                                                                                                                            • TASK
                                                                                                                                                                                                                                                            • The price ofhellip
                                                                                                                                                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                            • 1 What to produce
                                                                                                                                                                                                                                                            • 2 How to produce it
                                                                                                                                                                                                                                                            • 3 For whom to produce it
                                                                                                                                                                                                                                                            • Application Activity
                                                                                                                                                                                                                                                            • EQs
                                                                                                                                                                                                                                                            • Objectives amp Essential Questions
                                                                                                                                                                                                                                                            • Group Activity Budget Activity
                                                                                                                                                                                                                                                            • Slide 105
                                                                                                                                                                                                                                                            • How do we satisfy our economic wants
                                                                                                                                                                                                                                                            • How do we make goods amp services
                                                                                                                                                                                                                                                            • Economic Interdependence
                                                                                                                                                                                                                                                            • Slide 109
                                                                                                                                                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                            • Exampleshellip
                                                                                                                                                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                            • Opportunity Cost
                                                                                                                                                                                                                                                            • What else influences your choices
                                                                                                                                                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                            • ObjectivesEssential Questions
                                                                                                                                                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                            • Production Possibilities Frontier
                                                                                                                                                                                                                                                            • PPF Assumptions
                                                                                                                                                                                                                                                            • Slide 121
                                                                                                                                                                                                                                                            • Production Possibilities Curve
                                                                                                                                                                                                                                                            • The Choices Nations Make
                                                                                                                                                                                                                                                            • Economic Growth
                                                                                                                                                                                                                                                            • The Classic Guns and Butter example
                                                                                                                                                                                                                                                            • Productivity
                                                                                                                                                                                                                                                            • Locations on a PPF
                                                                                                                                                                                                                                                            • Slide 128
                                                                                                                                                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                            • Economic Systems
                                                                                                                                                                                                                                                            • Jigsaw activity
                                                                                                                                                                                                                                                            • Slide 132
                                                                                                                                                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                            • Review of Economic Systems
                                                                                                                                                                                                                                                            • Slide 135
                                                                                                                                                                                                                                                            • What are the most important goals of each economic system
                                                                                                                                                                                                                                                            • Which economic system does the US use
                                                                                                                                                                                                                                                            • The American Economic System
                                                                                                                                                                                                                                                            • The US mixed economy
                                                                                                                                                                                                                                                            • Slide 140
                                                                                                                                                                                                                                                            • Think backhellip
                                                                                                                                                                                                                                                            • US Economic System Characteristics
                                                                                                                                                                                                                                                            • Slide 143
                                                                                                                                                                                                                                                            • Understanding how all parts fit together
                                                                                                                                                                                                                                                            • Marriage Vows
                                                                                                                                                                                                                                                            • Do you remember
                                                                                                                                                                                                                                                            • Slide 147

                                                                                                                                                                                                                                                              Economic Systems

                                                                                                                                                                                                                                                              An economic system is the way a society coordinates the production and consumption of goods amp services

                                                                                                                                                                                                                                                              How a society answers the three basic economic questions determines which type of economic system they are

                                                                                                                                                                                                                                                              Three Types of Economic Systems Command Traditional Market

                                                                                                                                                                                                                                                              Jigsaw activity

                                                                                                                                                                                                                                                              bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                                              bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                                              bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                                              Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                              bull Economic Freedom

                                                                                                                                                                                                                                                              bull Economic Efficiency

                                                                                                                                                                                                                                                              bull Economic Equity

                                                                                                                                                                                                                                                              bull Economic Security

                                                                                                                                                                                                                                                              Economic Stability

                                                                                                                                                                                                                                                              Economic Growth

                                                                                                                                                                                                                                                              Review of Economic Systems

                                                                                                                                                                                                                                                              bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                              bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                              bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                              What are the most important goals of each economic system

                                                                                                                                                                                                                                                              bullTraditionalSecurity and

                                                                                                                                                                                                                                                              StabilitybullCommand

                                                                                                                                                                                                                                                              Equity and Security

                                                                                                                                                                                                                                                              bullMARKETEfficiency and

                                                                                                                                                                                                                                                              Freedom

                                                                                                                                                                                                                                                              Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                              at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                              Which economic system does the US use

                                                                                                                                                                                                                                                              The American Economic System

                                                                                                                                                                                                                                                              bullWe have a mixed market economy

                                                                                                                                                                                                                                                              COMMAND MARKET

                                                                                                                                                                                                                                                              The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                              Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                              Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                              Think backhellip

                                                                                                                                                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                              2 Limited government

                                                                                                                                                                                                                                                              3 Equal opportunity

                                                                                                                                                                                                                                                              4 Competition

                                                                                                                                                                                                                                                              5 Profit motive

                                                                                                                                                                                                                                                              6 Property Rights

                                                                                                                                                                                                                                                              7 Binding Contracts

                                                                                                                                                                                                                                                              Understanding how all parts fit together

                                                                                                                                                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                              Shows interdependence between

                                                                                                                                                                                                                                                              businesses and individuals

                                                                                                                                                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                              Do you remember

                                                                                                                                                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                              democracy and mixed economy

                                                                                                                                                                                                                                                              • Foundations of Government and Economics
                                                                                                                                                                                                                                                              • On your blank piece of paperhellip
                                                                                                                                                                                                                                                              • Slide 3
                                                                                                                                                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                              • Introductory thoughts hellip
                                                                                                                                                                                                                                                              • Slide 6
                                                                                                                                                                                                                                                              • 2 How about to your life
                                                                                                                                                                                                                                                              • Slide 8
                                                                                                                                                                                                                                                              • Slide 9
                                                                                                                                                                                                                                                              • Slide 10
                                                                                                                                                                                                                                                              • Slide 11
                                                                                                                                                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                              • Economist and Politician Assumptions
                                                                                                                                                                                                                                                              • Individualism
                                                                                                                                                                                                                                                              • Quote activity
                                                                                                                                                                                                                                                              • Quote breakdown
                                                                                                                                                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                              • Purpose of Government
                                                                                                                                                                                                                                                              • Slide 20
                                                                                                                                                                                                                                                              • 3 Theorists
                                                                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                                                                              • Origins of American Government A customized government
                                                                                                                                                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                              • With which theory do you agree more Why
                                                                                                                                                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                              • Groups Block 2
                                                                                                                                                                                                                                                              • Groups Block 4
                                                                                                                                                                                                                                                              • Balloon Game
                                                                                                                                                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                              • Balloon Game Debriefing
                                                                                                                                                                                                                                                              • Political Theories
                                                                                                                                                                                                                                                              • Social Contract
                                                                                                                                                                                                                                                              • Natural Rights
                                                                                                                                                                                                                                                              • Democracy
                                                                                                                                                                                                                                                              • Concepts of Government
                                                                                                                                                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                              • Warm Up 7
                                                                                                                                                                                                                                                              • And after the Constitution
                                                                                                                                                                                                                                                              • Activity (2)
                                                                                                                                                                                                                                                              • Picture Activity
                                                                                                                                                                                                                                                              • Constitutional Convention
                                                                                                                                                                                                                                                              • Purpose of the Convention
                                                                                                                                                                                                                                                              • VA Plan v NJ Plan
                                                                                                                                                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                              • Your Task
                                                                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                                                                              • States agree
                                                                                                                                                                                                                                                              • Quote
                                                                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                                                                              • 6 Purpose of Government
                                                                                                                                                                                                                                                              • Structure of Constitution (2)
                                                                                                                                                                                                                                                              • Structure of Constitution (3)
                                                                                                                                                                                                                                                              • Principles of Constitution
                                                                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                                                                              • Slide 60
                                                                                                                                                                                                                                                              • Check for Understanding Six Principles
                                                                                                                                                                                                                                                              • Question 1
                                                                                                                                                                                                                                                              • Question 2
                                                                                                                                                                                                                                                              • Question 3
                                                                                                                                                                                                                                                              • Question 4
                                                                                                                                                                                                                                                              • Question 5
                                                                                                                                                                                                                                                              • Question 6
                                                                                                                                                                                                                                                              • Question 7
                                                                                                                                                                                                                                                              • Question 8
                                                                                                                                                                                                                                                              • Groups
                                                                                                                                                                                                                                                              • Separation of Powers
                                                                                                                                                                                                                                                              • Video
                                                                                                                                                                                                                                                              • Checks and Balances
                                                                                                                                                                                                                                                              • Slide 74
                                                                                                                                                                                                                                                              • Checks and balances
                                                                                                                                                                                                                                                              • Basic Principles
                                                                                                                                                                                                                                                              • Self- Worth
                                                                                                                                                                                                                                                              • Equality
                                                                                                                                                                                                                                                              • Compromise
                                                                                                                                                                                                                                                              • Individual Freedom
                                                                                                                                                                                                                                                              • Write your ownhellip
                                                                                                                                                                                                                                                              • Slide 82
                                                                                                                                                                                                                                                              • TED Talk
                                                                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                                                                              • What is Economics
                                                                                                                                                                                                                                                              • Economics ishellip
                                                                                                                                                                                                                                                              • Back to our assumptionshellip
                                                                                                                                                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                              • For the videohellip
                                                                                                                                                                                                                                                              • Slide 90
                                                                                                                                                                                                                                                              • Post Videohellip
                                                                                                                                                                                                                                                              • Advertisement
                                                                                                                                                                                                                                                              • Political Cartoon Analysis
                                                                                                                                                                                                                                                              • Factors of Production
                                                                                                                                                                                                                                                              • TASK
                                                                                                                                                                                                                                                              • The price ofhellip
                                                                                                                                                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                              • 1 What to produce
                                                                                                                                                                                                                                                              • 2 How to produce it
                                                                                                                                                                                                                                                              • 3 For whom to produce it
                                                                                                                                                                                                                                                              • Application Activity
                                                                                                                                                                                                                                                              • EQs
                                                                                                                                                                                                                                                              • Objectives amp Essential Questions
                                                                                                                                                                                                                                                              • Group Activity Budget Activity
                                                                                                                                                                                                                                                              • Slide 105
                                                                                                                                                                                                                                                              • How do we satisfy our economic wants
                                                                                                                                                                                                                                                              • How do we make goods amp services
                                                                                                                                                                                                                                                              • Economic Interdependence
                                                                                                                                                                                                                                                              • Slide 109
                                                                                                                                                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                              • Exampleshellip
                                                                                                                                                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                              • Opportunity Cost
                                                                                                                                                                                                                                                              • What else influences your choices
                                                                                                                                                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                              • ObjectivesEssential Questions
                                                                                                                                                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                              • Production Possibilities Frontier
                                                                                                                                                                                                                                                              • PPF Assumptions
                                                                                                                                                                                                                                                              • Slide 121
                                                                                                                                                                                                                                                              • Production Possibilities Curve
                                                                                                                                                                                                                                                              • The Choices Nations Make
                                                                                                                                                                                                                                                              • Economic Growth
                                                                                                                                                                                                                                                              • The Classic Guns and Butter example
                                                                                                                                                                                                                                                              • Productivity
                                                                                                                                                                                                                                                              • Locations on a PPF
                                                                                                                                                                                                                                                              • Slide 128
                                                                                                                                                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                              • Economic Systems
                                                                                                                                                                                                                                                              • Jigsaw activity
                                                                                                                                                                                                                                                              • Slide 132
                                                                                                                                                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                              • Review of Economic Systems
                                                                                                                                                                                                                                                              • Slide 135
                                                                                                                                                                                                                                                              • What are the most important goals of each economic system
                                                                                                                                                                                                                                                              • Which economic system does the US use
                                                                                                                                                                                                                                                              • The American Economic System
                                                                                                                                                                                                                                                              • The US mixed economy
                                                                                                                                                                                                                                                              • Slide 140
                                                                                                                                                                                                                                                              • Think backhellip
                                                                                                                                                                                                                                                              • US Economic System Characteristics
                                                                                                                                                                                                                                                              • Slide 143
                                                                                                                                                                                                                                                              • Understanding how all parts fit together
                                                                                                                                                                                                                                                              • Marriage Vows
                                                                                                                                                                                                                                                              • Do you remember
                                                                                                                                                                                                                                                              • Slide 147

                                                                                                                                                                                                                                                                Jigsaw activity

                                                                                                                                                                                                                                                                bullYou will be placed in groups of 3 and assigned a type of economy

                                                                                                                                                                                                                                                                bullYou will have 7 minutes to read and come up with 4 key components

                                                                                                                                                                                                                                                                bullAfter the 7 minuteshellip 1rsquos go to the front of the classroom2rsquos go to the wall nearest the door3rsquos go to the wall nearest the courtyard

                                                                                                                                                                                                                                                                Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                                bull Economic Freedom

                                                                                                                                                                                                                                                                bull Economic Efficiency

                                                                                                                                                                                                                                                                bull Economic Equity

                                                                                                                                                                                                                                                                bull Economic Security

                                                                                                                                                                                                                                                                Economic Stability

                                                                                                                                                                                                                                                                Economic Growth

                                                                                                                                                                                                                                                                Review of Economic Systems

                                                                                                                                                                                                                                                                bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                                bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                                bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                                What are the most important goals of each economic system

                                                                                                                                                                                                                                                                bullTraditionalSecurity and

                                                                                                                                                                                                                                                                StabilitybullCommand

                                                                                                                                                                                                                                                                Equity and Security

                                                                                                                                                                                                                                                                bullMARKETEfficiency and

                                                                                                                                                                                                                                                                Freedom

                                                                                                                                                                                                                                                                Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                                at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                                Which economic system does the US use

                                                                                                                                                                                                                                                                The American Economic System

                                                                                                                                                                                                                                                                bullWe have a mixed market economy

                                                                                                                                                                                                                                                                COMMAND MARKET

                                                                                                                                                                                                                                                                The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                                Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                                Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                                Think backhellip

                                                                                                                                                                                                                                                                bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                                2 Limited government

                                                                                                                                                                                                                                                                3 Equal opportunity

                                                                                                                                                                                                                                                                4 Competition

                                                                                                                                                                                                                                                                5 Profit motive

                                                                                                                                                                                                                                                                6 Property Rights

                                                                                                                                                                                                                                                                7 Binding Contracts

                                                                                                                                                                                                                                                                Understanding how all parts fit together

                                                                                                                                                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                Shows interdependence between

                                                                                                                                                                                                                                                                businesses and individuals

                                                                                                                                                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                Do you remember

                                                                                                                                                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                democracy and mixed economy

                                                                                                                                                                                                                                                                • Foundations of Government and Economics
                                                                                                                                                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                • Slide 3
                                                                                                                                                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                • Introductory thoughts hellip
                                                                                                                                                                                                                                                                • Slide 6
                                                                                                                                                                                                                                                                • 2 How about to your life
                                                                                                                                                                                                                                                                • Slide 8
                                                                                                                                                                                                                                                                • Slide 9
                                                                                                                                                                                                                                                                • Slide 10
                                                                                                                                                                                                                                                                • Slide 11
                                                                                                                                                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                • Individualism
                                                                                                                                                                                                                                                                • Quote activity
                                                                                                                                                                                                                                                                • Quote breakdown
                                                                                                                                                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                • Purpose of Government
                                                                                                                                                                                                                                                                • Slide 20
                                                                                                                                                                                                                                                                • 3 Theorists
                                                                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                                                                • Origins of American Government A customized government
                                                                                                                                                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                • With which theory do you agree more Why
                                                                                                                                                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                • Groups Block 2
                                                                                                                                                                                                                                                                • Groups Block 4
                                                                                                                                                                                                                                                                • Balloon Game
                                                                                                                                                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                • Balloon Game Debriefing
                                                                                                                                                                                                                                                                • Political Theories
                                                                                                                                                                                                                                                                • Social Contract
                                                                                                                                                                                                                                                                • Natural Rights
                                                                                                                                                                                                                                                                • Democracy
                                                                                                                                                                                                                                                                • Concepts of Government
                                                                                                                                                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                • Warm Up 7
                                                                                                                                                                                                                                                                • And after the Constitution
                                                                                                                                                                                                                                                                • Activity (2)
                                                                                                                                                                                                                                                                • Picture Activity
                                                                                                                                                                                                                                                                • Constitutional Convention
                                                                                                                                                                                                                                                                • Purpose of the Convention
                                                                                                                                                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                • Your Task
                                                                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                                                                • States agree
                                                                                                                                                                                                                                                                • Quote
                                                                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                                                                • 6 Purpose of Government
                                                                                                                                                                                                                                                                • Structure of Constitution (2)
                                                                                                                                                                                                                                                                • Structure of Constitution (3)
                                                                                                                                                                                                                                                                • Principles of Constitution
                                                                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                                                                • Slide 60
                                                                                                                                                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                • Question 1
                                                                                                                                                                                                                                                                • Question 2
                                                                                                                                                                                                                                                                • Question 3
                                                                                                                                                                                                                                                                • Question 4
                                                                                                                                                                                                                                                                • Question 5
                                                                                                                                                                                                                                                                • Question 6
                                                                                                                                                                                                                                                                • Question 7
                                                                                                                                                                                                                                                                • Question 8
                                                                                                                                                                                                                                                                • Groups
                                                                                                                                                                                                                                                                • Separation of Powers
                                                                                                                                                                                                                                                                • Video
                                                                                                                                                                                                                                                                • Checks and Balances
                                                                                                                                                                                                                                                                • Slide 74
                                                                                                                                                                                                                                                                • Checks and balances
                                                                                                                                                                                                                                                                • Basic Principles
                                                                                                                                                                                                                                                                • Self- Worth
                                                                                                                                                                                                                                                                • Equality
                                                                                                                                                                                                                                                                • Compromise
                                                                                                                                                                                                                                                                • Individual Freedom
                                                                                                                                                                                                                                                                • Write your ownhellip
                                                                                                                                                                                                                                                                • Slide 82
                                                                                                                                                                                                                                                                • TED Talk
                                                                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                                                                • What is Economics
                                                                                                                                                                                                                                                                • Economics ishellip
                                                                                                                                                                                                                                                                • Back to our assumptionshellip
                                                                                                                                                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                • For the videohellip
                                                                                                                                                                                                                                                                • Slide 90
                                                                                                                                                                                                                                                                • Post Videohellip
                                                                                                                                                                                                                                                                • Advertisement
                                                                                                                                                                                                                                                                • Political Cartoon Analysis
                                                                                                                                                                                                                                                                • Factors of Production
                                                                                                                                                                                                                                                                • TASK
                                                                                                                                                                                                                                                                • The price ofhellip
                                                                                                                                                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                • 1 What to produce
                                                                                                                                                                                                                                                                • 2 How to produce it
                                                                                                                                                                                                                                                                • 3 For whom to produce it
                                                                                                                                                                                                                                                                • Application Activity
                                                                                                                                                                                                                                                                • EQs
                                                                                                                                                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                • Group Activity Budget Activity
                                                                                                                                                                                                                                                                • Slide 105
                                                                                                                                                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                • How do we make goods amp services
                                                                                                                                                                                                                                                                • Economic Interdependence
                                                                                                                                                                                                                                                                • Slide 109
                                                                                                                                                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                • Exampleshellip
                                                                                                                                                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                • Opportunity Cost
                                                                                                                                                                                                                                                                • What else influences your choices
                                                                                                                                                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                • Production Possibilities Frontier
                                                                                                                                                                                                                                                                • PPF Assumptions
                                                                                                                                                                                                                                                                • Slide 121
                                                                                                                                                                                                                                                                • Production Possibilities Curve
                                                                                                                                                                                                                                                                • The Choices Nations Make
                                                                                                                                                                                                                                                                • Economic Growth
                                                                                                                                                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                • Productivity
                                                                                                                                                                                                                                                                • Locations on a PPF
                                                                                                                                                                                                                                                                • Slide 128
                                                                                                                                                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                • Economic Systems
                                                                                                                                                                                                                                                                • Jigsaw activity
                                                                                                                                                                                                                                                                • Slide 132
                                                                                                                                                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                • Review of Economic Systems
                                                                                                                                                                                                                                                                • Slide 135
                                                                                                                                                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                • Which economic system does the US use
                                                                                                                                                                                                                                                                • The American Economic System
                                                                                                                                                                                                                                                                • The US mixed economy
                                                                                                                                                                                                                                                                • Slide 140
                                                                                                                                                                                                                                                                • Think backhellip
                                                                                                                                                                                                                                                                • US Economic System Characteristics
                                                                                                                                                                                                                                                                • Slide 143
                                                                                                                                                                                                                                                                • Understanding how all parts fit together
                                                                                                                                                                                                                                                                • Marriage Vows
                                                                                                                                                                                                                                                                • Do you remember
                                                                                                                                                                                                                                                                • Slide 147

                                                                                                                                                                                                                                                                  Economic amp Social Goals of an Economic System

                                                                                                                                                                                                                                                                  bull Economic Freedom

                                                                                                                                                                                                                                                                  bull Economic Efficiency

                                                                                                                                                                                                                                                                  bull Economic Equity

                                                                                                                                                                                                                                                                  bull Economic Security

                                                                                                                                                                                                                                                                  Economic Stability

                                                                                                                                                                                                                                                                  Economic Growth

                                                                                                                                                                                                                                                                  Review of Economic Systems

                                                                                                                                                                                                                                                                  bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                                  bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                                  bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                                  What are the most important goals of each economic system

                                                                                                                                                                                                                                                                  bullTraditionalSecurity and

                                                                                                                                                                                                                                                                  StabilitybullCommand

                                                                                                                                                                                                                                                                  Equity and Security

                                                                                                                                                                                                                                                                  bullMARKETEfficiency and

                                                                                                                                                                                                                                                                  Freedom

                                                                                                                                                                                                                                                                  Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                                  at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                                  Which economic system does the US use

                                                                                                                                                                                                                                                                  The American Economic System

                                                                                                                                                                                                                                                                  bullWe have a mixed market economy

                                                                                                                                                                                                                                                                  COMMAND MARKET

                                                                                                                                                                                                                                                                  The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                                  Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                                  Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                                  Think backhellip

                                                                                                                                                                                                                                                                  bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                                  US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                                  2 Limited government

                                                                                                                                                                                                                                                                  3 Equal opportunity

                                                                                                                                                                                                                                                                  4 Competition

                                                                                                                                                                                                                                                                  5 Profit motive

                                                                                                                                                                                                                                                                  6 Property Rights

                                                                                                                                                                                                                                                                  7 Binding Contracts

                                                                                                                                                                                                                                                                  Understanding how all parts fit together

                                                                                                                                                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                  Shows interdependence between

                                                                                                                                                                                                                                                                  businesses and individuals

                                                                                                                                                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                  Do you remember

                                                                                                                                                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                  democracy and mixed economy

                                                                                                                                                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                  • Slide 3
                                                                                                                                                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                                                                                                                                                  • Slide 6
                                                                                                                                                                                                                                                                  • 2 How about to your life
                                                                                                                                                                                                                                                                  • Slide 8
                                                                                                                                                                                                                                                                  • Slide 9
                                                                                                                                                                                                                                                                  • Slide 10
                                                                                                                                                                                                                                                                  • Slide 11
                                                                                                                                                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                  • Individualism
                                                                                                                                                                                                                                                                  • Quote activity
                                                                                                                                                                                                                                                                  • Quote breakdown
                                                                                                                                                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                  • Purpose of Government
                                                                                                                                                                                                                                                                  • Slide 20
                                                                                                                                                                                                                                                                  • 3 Theorists
                                                                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                  • Groups Block 2
                                                                                                                                                                                                                                                                  • Groups Block 4
                                                                                                                                                                                                                                                                  • Balloon Game
                                                                                                                                                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                                                                                                                                                  • Political Theories
                                                                                                                                                                                                                                                                  • Social Contract
                                                                                                                                                                                                                                                                  • Natural Rights
                                                                                                                                                                                                                                                                  • Democracy
                                                                                                                                                                                                                                                                  • Concepts of Government
                                                                                                                                                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                  • Warm Up 7
                                                                                                                                                                                                                                                                  • And after the Constitution
                                                                                                                                                                                                                                                                  • Activity (2)
                                                                                                                                                                                                                                                                  • Picture Activity
                                                                                                                                                                                                                                                                  • Constitutional Convention
                                                                                                                                                                                                                                                                  • Purpose of the Convention
                                                                                                                                                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                  • Your Task
                                                                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                                                                  • States agree
                                                                                                                                                                                                                                                                  • Quote
                                                                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                                                                  • 6 Purpose of Government
                                                                                                                                                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                                                                                                                                                  • Principles of Constitution
                                                                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                                                                  • Slide 60
                                                                                                                                                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                  • Question 1
                                                                                                                                                                                                                                                                  • Question 2
                                                                                                                                                                                                                                                                  • Question 3
                                                                                                                                                                                                                                                                  • Question 4
                                                                                                                                                                                                                                                                  • Question 5
                                                                                                                                                                                                                                                                  • Question 6
                                                                                                                                                                                                                                                                  • Question 7
                                                                                                                                                                                                                                                                  • Question 8
                                                                                                                                                                                                                                                                  • Groups
                                                                                                                                                                                                                                                                  • Separation of Powers
                                                                                                                                                                                                                                                                  • Video
                                                                                                                                                                                                                                                                  • Checks and Balances
                                                                                                                                                                                                                                                                  • Slide 74
                                                                                                                                                                                                                                                                  • Checks and balances
                                                                                                                                                                                                                                                                  • Basic Principles
                                                                                                                                                                                                                                                                  • Self- Worth
                                                                                                                                                                                                                                                                  • Equality
                                                                                                                                                                                                                                                                  • Compromise
                                                                                                                                                                                                                                                                  • Individual Freedom
                                                                                                                                                                                                                                                                  • Write your ownhellip
                                                                                                                                                                                                                                                                  • Slide 82
                                                                                                                                                                                                                                                                  • TED Talk
                                                                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                                                                  • What is Economics
                                                                                                                                                                                                                                                                  • Economics ishellip
                                                                                                                                                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                  • For the videohellip
                                                                                                                                                                                                                                                                  • Slide 90
                                                                                                                                                                                                                                                                  • Post Videohellip
                                                                                                                                                                                                                                                                  • Advertisement
                                                                                                                                                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                                                                                                                                                  • Factors of Production
                                                                                                                                                                                                                                                                  • TASK
                                                                                                                                                                                                                                                                  • The price ofhellip
                                                                                                                                                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                  • 1 What to produce
                                                                                                                                                                                                                                                                  • 2 How to produce it
                                                                                                                                                                                                                                                                  • 3 For whom to produce it
                                                                                                                                                                                                                                                                  • Application Activity
                                                                                                                                                                                                                                                                  • EQs
                                                                                                                                                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                                                                                                                                                  • Slide 105
                                                                                                                                                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                  • How do we make goods amp services
                                                                                                                                                                                                                                                                  • Economic Interdependence
                                                                                                                                                                                                                                                                  • Slide 109
                                                                                                                                                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                  • Exampleshellip
                                                                                                                                                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                  • Opportunity Cost
                                                                                                                                                                                                                                                                  • What else influences your choices
                                                                                                                                                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                                                                                                                                                  • PPF Assumptions
                                                                                                                                                                                                                                                                  • Slide 121
                                                                                                                                                                                                                                                                  • Production Possibilities Curve
                                                                                                                                                                                                                                                                  • The Choices Nations Make
                                                                                                                                                                                                                                                                  • Economic Growth
                                                                                                                                                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                  • Productivity
                                                                                                                                                                                                                                                                  • Locations on a PPF
                                                                                                                                                                                                                                                                  • Slide 128
                                                                                                                                                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                  • Economic Systems
                                                                                                                                                                                                                                                                  • Jigsaw activity
                                                                                                                                                                                                                                                                  • Slide 132
                                                                                                                                                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                  • Review of Economic Systems
                                                                                                                                                                                                                                                                  • Slide 135
                                                                                                                                                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                  • Which economic system does the US use
                                                                                                                                                                                                                                                                  • The American Economic System
                                                                                                                                                                                                                                                                  • The US mixed economy
                                                                                                                                                                                                                                                                  • Slide 140
                                                                                                                                                                                                                                                                  • Think backhellip
                                                                                                                                                                                                                                                                  • US Economic System Characteristics
                                                                                                                                                                                                                                                                  • Slide 143
                                                                                                                                                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                                                                                                                                                  • Marriage Vows
                                                                                                                                                                                                                                                                  • Do you remember
                                                                                                                                                                                                                                                                  • Slide 147

                                                                                                                                                                                                                                                                    Review of Economic Systems

                                                                                                                                                                                                                                                                    bullA traditional economy relies on custom and tradition to dictate production and consumption

                                                                                                                                                                                                                                                                    bullIn a command economy decisions about production and consumption are made by a powerful ruler or central authority

                                                                                                                                                                                                                                                                    bullIn a market economy individual producers and consumers coordinate economic activity

                                                                                                                                                                                                                                                                    What are the most important goals of each economic system

                                                                                                                                                                                                                                                                    bullTraditionalSecurity and

                                                                                                                                                                                                                                                                    StabilitybullCommand

                                                                                                                                                                                                                                                                    Equity and Security

                                                                                                                                                                                                                                                                    bullMARKETEfficiency and

                                                                                                                                                                                                                                                                    Freedom

                                                                                                                                                                                                                                                                    Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                                    at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                                    Which economic system does the US use

                                                                                                                                                                                                                                                                    The American Economic System

                                                                                                                                                                                                                                                                    bullWe have a mixed market economy

                                                                                                                                                                                                                                                                    COMMAND MARKET

                                                                                                                                                                                                                                                                    The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                                    Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                                    Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                                    Think backhellip

                                                                                                                                                                                                                                                                    bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                                    US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                                    2 Limited government

                                                                                                                                                                                                                                                                    3 Equal opportunity

                                                                                                                                                                                                                                                                    4 Competition

                                                                                                                                                                                                                                                                    5 Profit motive

                                                                                                                                                                                                                                                                    6 Property Rights

                                                                                                                                                                                                                                                                    7 Binding Contracts

                                                                                                                                                                                                                                                                    Understanding how all parts fit together

                                                                                                                                                                                                                                                                    Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                    2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                    where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                    Shows interdependence between

                                                                                                                                                                                                                                                                    businesses and individuals

                                                                                                                                                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                    Do you remember

                                                                                                                                                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                    democracy and mixed economy

                                                                                                                                                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                    • Slide 3
                                                                                                                                                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                                                                                                                                                    • Slide 6
                                                                                                                                                                                                                                                                    • 2 How about to your life
                                                                                                                                                                                                                                                                    • Slide 8
                                                                                                                                                                                                                                                                    • Slide 9
                                                                                                                                                                                                                                                                    • Slide 10
                                                                                                                                                                                                                                                                    • Slide 11
                                                                                                                                                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                    • Individualism
                                                                                                                                                                                                                                                                    • Quote activity
                                                                                                                                                                                                                                                                    • Quote breakdown
                                                                                                                                                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                    • Purpose of Government
                                                                                                                                                                                                                                                                    • Slide 20
                                                                                                                                                                                                                                                                    • 3 Theorists
                                                                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                    • Groups Block 2
                                                                                                                                                                                                                                                                    • Groups Block 4
                                                                                                                                                                                                                                                                    • Balloon Game
                                                                                                                                                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                                                                                                                                                    • Political Theories
                                                                                                                                                                                                                                                                    • Social Contract
                                                                                                                                                                                                                                                                    • Natural Rights
                                                                                                                                                                                                                                                                    • Democracy
                                                                                                                                                                                                                                                                    • Concepts of Government
                                                                                                                                                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                    • Warm Up 7
                                                                                                                                                                                                                                                                    • And after the Constitution
                                                                                                                                                                                                                                                                    • Activity (2)
                                                                                                                                                                                                                                                                    • Picture Activity
                                                                                                                                                                                                                                                                    • Constitutional Convention
                                                                                                                                                                                                                                                                    • Purpose of the Convention
                                                                                                                                                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                    • Your Task
                                                                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                                                                    • States agree
                                                                                                                                                                                                                                                                    • Quote
                                                                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                                                                    • 6 Purpose of Government
                                                                                                                                                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                                                                                                                                                    • Principles of Constitution
                                                                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                                                                    • Slide 60
                                                                                                                                                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                    • Question 1
                                                                                                                                                                                                                                                                    • Question 2
                                                                                                                                                                                                                                                                    • Question 3
                                                                                                                                                                                                                                                                    • Question 4
                                                                                                                                                                                                                                                                    • Question 5
                                                                                                                                                                                                                                                                    • Question 6
                                                                                                                                                                                                                                                                    • Question 7
                                                                                                                                                                                                                                                                    • Question 8
                                                                                                                                                                                                                                                                    • Groups
                                                                                                                                                                                                                                                                    • Separation of Powers
                                                                                                                                                                                                                                                                    • Video
                                                                                                                                                                                                                                                                    • Checks and Balances
                                                                                                                                                                                                                                                                    • Slide 74
                                                                                                                                                                                                                                                                    • Checks and balances
                                                                                                                                                                                                                                                                    • Basic Principles
                                                                                                                                                                                                                                                                    • Self- Worth
                                                                                                                                                                                                                                                                    • Equality
                                                                                                                                                                                                                                                                    • Compromise
                                                                                                                                                                                                                                                                    • Individual Freedom
                                                                                                                                                                                                                                                                    • Write your ownhellip
                                                                                                                                                                                                                                                                    • Slide 82
                                                                                                                                                                                                                                                                    • TED Talk
                                                                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                                                                    • What is Economics
                                                                                                                                                                                                                                                                    • Economics ishellip
                                                                                                                                                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                    • For the videohellip
                                                                                                                                                                                                                                                                    • Slide 90
                                                                                                                                                                                                                                                                    • Post Videohellip
                                                                                                                                                                                                                                                                    • Advertisement
                                                                                                                                                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                                                                                                                                                    • Factors of Production
                                                                                                                                                                                                                                                                    • TASK
                                                                                                                                                                                                                                                                    • The price ofhellip
                                                                                                                                                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                    • 1 What to produce
                                                                                                                                                                                                                                                                    • 2 How to produce it
                                                                                                                                                                                                                                                                    • 3 For whom to produce it
                                                                                                                                                                                                                                                                    • Application Activity
                                                                                                                                                                                                                                                                    • EQs
                                                                                                                                                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                                                                                                                                                    • Slide 105
                                                                                                                                                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                    • How do we make goods amp services
                                                                                                                                                                                                                                                                    • Economic Interdependence
                                                                                                                                                                                                                                                                    • Slide 109
                                                                                                                                                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                    • Exampleshellip
                                                                                                                                                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                    • Opportunity Cost
                                                                                                                                                                                                                                                                    • What else influences your choices
                                                                                                                                                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                                                                                                                                                    • PPF Assumptions
                                                                                                                                                                                                                                                                    • Slide 121
                                                                                                                                                                                                                                                                    • Production Possibilities Curve
                                                                                                                                                                                                                                                                    • The Choices Nations Make
                                                                                                                                                                                                                                                                    • Economic Growth
                                                                                                                                                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                    • Productivity
                                                                                                                                                                                                                                                                    • Locations on a PPF
                                                                                                                                                                                                                                                                    • Slide 128
                                                                                                                                                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                    • Economic Systems
                                                                                                                                                                                                                                                                    • Jigsaw activity
                                                                                                                                                                                                                                                                    • Slide 132
                                                                                                                                                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                    • Review of Economic Systems
                                                                                                                                                                                                                                                                    • Slide 135
                                                                                                                                                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                    • Which economic system does the US use
                                                                                                                                                                                                                                                                    • The American Economic System
                                                                                                                                                                                                                                                                    • The US mixed economy
                                                                                                                                                                                                                                                                    • Slide 140
                                                                                                                                                                                                                                                                    • Think backhellip
                                                                                                                                                                                                                                                                    • US Economic System Characteristics
                                                                                                                                                                                                                                                                    • Slide 143
                                                                                                                                                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                                                                                                                                                    • Marriage Vows
                                                                                                                                                                                                                                                                    • Do you remember
                                                                                                                                                                                                                                                                    • Slide 147

                                                                                                                                                                                                                                                                      What are the most important goals of each economic system

                                                                                                                                                                                                                                                                      bullTraditionalSecurity and

                                                                                                                                                                                                                                                                      StabilitybullCommand

                                                                                                                                                                                                                                                                      Equity and Security

                                                                                                                                                                                                                                                                      bullMARKETEfficiency and

                                                                                                                                                                                                                                                                      Freedom

                                                                                                                                                                                                                                                                      Societies differ in the degree of importance they attach to each goal Progress toward one goal can sometimes be achieved only

                                                                                                                                                                                                                                                                      at the expense of another (TRADEOFFS)

                                                                                                                                                                                                                                                                      Which economic system does the US use

                                                                                                                                                                                                                                                                      The American Economic System

                                                                                                                                                                                                                                                                      bullWe have a mixed market economy

                                                                                                                                                                                                                                                                      COMMAND MARKET

                                                                                                                                                                                                                                                                      The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                                      Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                                      Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                                      Think backhellip

                                                                                                                                                                                                                                                                      bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                                      US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                                      2 Limited government

                                                                                                                                                                                                                                                                      3 Equal opportunity

                                                                                                                                                                                                                                                                      4 Competition

                                                                                                                                                                                                                                                                      5 Profit motive

                                                                                                                                                                                                                                                                      6 Property Rights

                                                                                                                                                                                                                                                                      7 Binding Contracts

                                                                                                                                                                                                                                                                      Understanding how all parts fit together

                                                                                                                                                                                                                                                                      Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                      2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                      where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                      Shows interdependence between

                                                                                                                                                                                                                                                                      businesses and individuals

                                                                                                                                                                                                                                                                      Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                      are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                      bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                      bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                      bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                      bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                      Do you remember

                                                                                                                                                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                      democracy and mixed economy

                                                                                                                                                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                      • Slide 3
                                                                                                                                                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                                                                                                                                                      • Slide 6
                                                                                                                                                                                                                                                                      • 2 How about to your life
                                                                                                                                                                                                                                                                      • Slide 8
                                                                                                                                                                                                                                                                      • Slide 9
                                                                                                                                                                                                                                                                      • Slide 10
                                                                                                                                                                                                                                                                      • Slide 11
                                                                                                                                                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                      • Individualism
                                                                                                                                                                                                                                                                      • Quote activity
                                                                                                                                                                                                                                                                      • Quote breakdown
                                                                                                                                                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                      • Purpose of Government
                                                                                                                                                                                                                                                                      • Slide 20
                                                                                                                                                                                                                                                                      • 3 Theorists
                                                                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                      • Groups Block 2
                                                                                                                                                                                                                                                                      • Groups Block 4
                                                                                                                                                                                                                                                                      • Balloon Game
                                                                                                                                                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                                                                                                                                                      • Political Theories
                                                                                                                                                                                                                                                                      • Social Contract
                                                                                                                                                                                                                                                                      • Natural Rights
                                                                                                                                                                                                                                                                      • Democracy
                                                                                                                                                                                                                                                                      • Concepts of Government
                                                                                                                                                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                      • Warm Up 7
                                                                                                                                                                                                                                                                      • And after the Constitution
                                                                                                                                                                                                                                                                      • Activity (2)
                                                                                                                                                                                                                                                                      • Picture Activity
                                                                                                                                                                                                                                                                      • Constitutional Convention
                                                                                                                                                                                                                                                                      • Purpose of the Convention
                                                                                                                                                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                      • Your Task
                                                                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                                                                      • States agree
                                                                                                                                                                                                                                                                      • Quote
                                                                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                                                                      • 6 Purpose of Government
                                                                                                                                                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                                                                                                                                                      • Principles of Constitution
                                                                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                                                                      • Slide 60
                                                                                                                                                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                      • Question 1
                                                                                                                                                                                                                                                                      • Question 2
                                                                                                                                                                                                                                                                      • Question 3
                                                                                                                                                                                                                                                                      • Question 4
                                                                                                                                                                                                                                                                      • Question 5
                                                                                                                                                                                                                                                                      • Question 6
                                                                                                                                                                                                                                                                      • Question 7
                                                                                                                                                                                                                                                                      • Question 8
                                                                                                                                                                                                                                                                      • Groups
                                                                                                                                                                                                                                                                      • Separation of Powers
                                                                                                                                                                                                                                                                      • Video
                                                                                                                                                                                                                                                                      • Checks and Balances
                                                                                                                                                                                                                                                                      • Slide 74
                                                                                                                                                                                                                                                                      • Checks and balances
                                                                                                                                                                                                                                                                      • Basic Principles
                                                                                                                                                                                                                                                                      • Self- Worth
                                                                                                                                                                                                                                                                      • Equality
                                                                                                                                                                                                                                                                      • Compromise
                                                                                                                                                                                                                                                                      • Individual Freedom
                                                                                                                                                                                                                                                                      • Write your ownhellip
                                                                                                                                                                                                                                                                      • Slide 82
                                                                                                                                                                                                                                                                      • TED Talk
                                                                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                                                                      • What is Economics
                                                                                                                                                                                                                                                                      • Economics ishellip
                                                                                                                                                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                      • For the videohellip
                                                                                                                                                                                                                                                                      • Slide 90
                                                                                                                                                                                                                                                                      • Post Videohellip
                                                                                                                                                                                                                                                                      • Advertisement
                                                                                                                                                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                                                                                                                                                      • Factors of Production
                                                                                                                                                                                                                                                                      • TASK
                                                                                                                                                                                                                                                                      • The price ofhellip
                                                                                                                                                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                      • 1 What to produce
                                                                                                                                                                                                                                                                      • 2 How to produce it
                                                                                                                                                                                                                                                                      • 3 For whom to produce it
                                                                                                                                                                                                                                                                      • Application Activity
                                                                                                                                                                                                                                                                      • EQs
                                                                                                                                                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                                                                                                                                                      • Slide 105
                                                                                                                                                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                      • How do we make goods amp services
                                                                                                                                                                                                                                                                      • Economic Interdependence
                                                                                                                                                                                                                                                                      • Slide 109
                                                                                                                                                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                      • Exampleshellip
                                                                                                                                                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                      • Opportunity Cost
                                                                                                                                                                                                                                                                      • What else influences your choices
                                                                                                                                                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                                                                                                                                                      • PPF Assumptions
                                                                                                                                                                                                                                                                      • Slide 121
                                                                                                                                                                                                                                                                      • Production Possibilities Curve
                                                                                                                                                                                                                                                                      • The Choices Nations Make
                                                                                                                                                                                                                                                                      • Economic Growth
                                                                                                                                                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                      • Productivity
                                                                                                                                                                                                                                                                      • Locations on a PPF
                                                                                                                                                                                                                                                                      • Slide 128
                                                                                                                                                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                      • Economic Systems
                                                                                                                                                                                                                                                                      • Jigsaw activity
                                                                                                                                                                                                                                                                      • Slide 132
                                                                                                                                                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                      • Review of Economic Systems
                                                                                                                                                                                                                                                                      • Slide 135
                                                                                                                                                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                      • Which economic system does the US use
                                                                                                                                                                                                                                                                      • The American Economic System
                                                                                                                                                                                                                                                                      • The US mixed economy
                                                                                                                                                                                                                                                                      • Slide 140
                                                                                                                                                                                                                                                                      • Think backhellip
                                                                                                                                                                                                                                                                      • US Economic System Characteristics
                                                                                                                                                                                                                                                                      • Slide 143
                                                                                                                                                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                                                                                                                                                      • Marriage Vows
                                                                                                                                                                                                                                                                      • Do you remember
                                                                                                                                                                                                                                                                      • Slide 147

                                                                                                                                                                                                                                                                        Which economic system does the US use

                                                                                                                                                                                                                                                                        The American Economic System

                                                                                                                                                                                                                                                                        bullWe have a mixed market economy

                                                                                                                                                                                                                                                                        COMMAND MARKET

                                                                                                                                                                                                                                                                        The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                                        Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                                        Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                                        Think backhellip

                                                                                                                                                                                                                                                                        bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                                        US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                                        2 Limited government

                                                                                                                                                                                                                                                                        3 Equal opportunity

                                                                                                                                                                                                                                                                        4 Competition

                                                                                                                                                                                                                                                                        5 Profit motive

                                                                                                                                                                                                                                                                        6 Property Rights

                                                                                                                                                                                                                                                                        7 Binding Contracts

                                                                                                                                                                                                                                                                        Understanding how all parts fit together

                                                                                                                                                                                                                                                                        Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                        2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                        where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                        Shows interdependence between

                                                                                                                                                                                                                                                                        businesses and individuals

                                                                                                                                                                                                                                                                        Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                        are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                        bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                        bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                        bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                        bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                        Do you remember

                                                                                                                                                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                        democracy and mixed economy

                                                                                                                                                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                        • Slide 3
                                                                                                                                                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                                                                                                                                                        • Slide 6
                                                                                                                                                                                                                                                                        • 2 How about to your life
                                                                                                                                                                                                                                                                        • Slide 8
                                                                                                                                                                                                                                                                        • Slide 9
                                                                                                                                                                                                                                                                        • Slide 10
                                                                                                                                                                                                                                                                        • Slide 11
                                                                                                                                                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                        • Individualism
                                                                                                                                                                                                                                                                        • Quote activity
                                                                                                                                                                                                                                                                        • Quote breakdown
                                                                                                                                                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                        • Purpose of Government
                                                                                                                                                                                                                                                                        • Slide 20
                                                                                                                                                                                                                                                                        • 3 Theorists
                                                                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                        • Groups Block 2
                                                                                                                                                                                                                                                                        • Groups Block 4
                                                                                                                                                                                                                                                                        • Balloon Game
                                                                                                                                                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                                                                                                                                                        • Political Theories
                                                                                                                                                                                                                                                                        • Social Contract
                                                                                                                                                                                                                                                                        • Natural Rights
                                                                                                                                                                                                                                                                        • Democracy
                                                                                                                                                                                                                                                                        • Concepts of Government
                                                                                                                                                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                        • Warm Up 7
                                                                                                                                                                                                                                                                        • And after the Constitution
                                                                                                                                                                                                                                                                        • Activity (2)
                                                                                                                                                                                                                                                                        • Picture Activity
                                                                                                                                                                                                                                                                        • Constitutional Convention
                                                                                                                                                                                                                                                                        • Purpose of the Convention
                                                                                                                                                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                        • Your Task
                                                                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                                                                        • States agree
                                                                                                                                                                                                                                                                        • Quote
                                                                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                                                                        • 6 Purpose of Government
                                                                                                                                                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                                                                                                                                                        • Principles of Constitution
                                                                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                                                                        • Slide 60
                                                                                                                                                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                        • Question 1
                                                                                                                                                                                                                                                                        • Question 2
                                                                                                                                                                                                                                                                        • Question 3
                                                                                                                                                                                                                                                                        • Question 4
                                                                                                                                                                                                                                                                        • Question 5
                                                                                                                                                                                                                                                                        • Question 6
                                                                                                                                                                                                                                                                        • Question 7
                                                                                                                                                                                                                                                                        • Question 8
                                                                                                                                                                                                                                                                        • Groups
                                                                                                                                                                                                                                                                        • Separation of Powers
                                                                                                                                                                                                                                                                        • Video
                                                                                                                                                                                                                                                                        • Checks and Balances
                                                                                                                                                                                                                                                                        • Slide 74
                                                                                                                                                                                                                                                                        • Checks and balances
                                                                                                                                                                                                                                                                        • Basic Principles
                                                                                                                                                                                                                                                                        • Self- Worth
                                                                                                                                                                                                                                                                        • Equality
                                                                                                                                                                                                                                                                        • Compromise
                                                                                                                                                                                                                                                                        • Individual Freedom
                                                                                                                                                                                                                                                                        • Write your ownhellip
                                                                                                                                                                                                                                                                        • Slide 82
                                                                                                                                                                                                                                                                        • TED Talk
                                                                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                                                                        • What is Economics
                                                                                                                                                                                                                                                                        • Economics ishellip
                                                                                                                                                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                        • For the videohellip
                                                                                                                                                                                                                                                                        • Slide 90
                                                                                                                                                                                                                                                                        • Post Videohellip
                                                                                                                                                                                                                                                                        • Advertisement
                                                                                                                                                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                                                                                                                                                        • Factors of Production
                                                                                                                                                                                                                                                                        • TASK
                                                                                                                                                                                                                                                                        • The price ofhellip
                                                                                                                                                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                        • 1 What to produce
                                                                                                                                                                                                                                                                        • 2 How to produce it
                                                                                                                                                                                                                                                                        • 3 For whom to produce it
                                                                                                                                                                                                                                                                        • Application Activity
                                                                                                                                                                                                                                                                        • EQs
                                                                                                                                                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                                                                                                                                                        • Slide 105
                                                                                                                                                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                        • How do we make goods amp services
                                                                                                                                                                                                                                                                        • Economic Interdependence
                                                                                                                                                                                                                                                                        • Slide 109
                                                                                                                                                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                        • Exampleshellip
                                                                                                                                                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                        • Opportunity Cost
                                                                                                                                                                                                                                                                        • What else influences your choices
                                                                                                                                                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                                                                                                                                                        • PPF Assumptions
                                                                                                                                                                                                                                                                        • Slide 121
                                                                                                                                                                                                                                                                        • Production Possibilities Curve
                                                                                                                                                                                                                                                                        • The Choices Nations Make
                                                                                                                                                                                                                                                                        • Economic Growth
                                                                                                                                                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                        • Productivity
                                                                                                                                                                                                                                                                        • Locations on a PPF
                                                                                                                                                                                                                                                                        • Slide 128
                                                                                                                                                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                        • Economic Systems
                                                                                                                                                                                                                                                                        • Jigsaw activity
                                                                                                                                                                                                                                                                        • Slide 132
                                                                                                                                                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                        • Review of Economic Systems
                                                                                                                                                                                                                                                                        • Slide 135
                                                                                                                                                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                        • Which economic system does the US use
                                                                                                                                                                                                                                                                        • The American Economic System
                                                                                                                                                                                                                                                                        • The US mixed economy
                                                                                                                                                                                                                                                                        • Slide 140
                                                                                                                                                                                                                                                                        • Think backhellip
                                                                                                                                                                                                                                                                        • US Economic System Characteristics
                                                                                                                                                                                                                                                                        • Slide 143
                                                                                                                                                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                                                                                                                                                        • Marriage Vows
                                                                                                                                                                                                                                                                        • Do you remember
                                                                                                                                                                                                                                                                        • Slide 147

                                                                                                                                                                                                                                                                          The American Economic System

                                                                                                                                                                                                                                                                          bullWe have a mixed market economy

                                                                                                                                                                                                                                                                          COMMAND MARKET

                                                                                                                                                                                                                                                                          The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                                          Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                                          Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                                          Think backhellip

                                                                                                                                                                                                                                                                          bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                                          US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                                          2 Limited government

                                                                                                                                                                                                                                                                          3 Equal opportunity

                                                                                                                                                                                                                                                                          4 Competition

                                                                                                                                                                                                                                                                          5 Profit motive

                                                                                                                                                                                                                                                                          6 Property Rights

                                                                                                                                                                                                                                                                          7 Binding Contracts

                                                                                                                                                                                                                                                                          Understanding how all parts fit together

                                                                                                                                                                                                                                                                          Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                          2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                          where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                          Shows interdependence between

                                                                                                                                                                                                                                                                          businesses and individuals

                                                                                                                                                                                                                                                                          Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                          are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                          bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                          bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                          bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                          bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                          Do you remember

                                                                                                                                                                                                                                                                          bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                          democracy and mixed economy

                                                                                                                                                                                                                                                                          • Foundations of Government and Economics
                                                                                                                                                                                                                                                                          • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                          • Slide 3
                                                                                                                                                                                                                                                                          • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                          • Introductory thoughts hellip
                                                                                                                                                                                                                                                                          • Slide 6
                                                                                                                                                                                                                                                                          • 2 How about to your life
                                                                                                                                                                                                                                                                          • Slide 8
                                                                                                                                                                                                                                                                          • Slide 9
                                                                                                                                                                                                                                                                          • Slide 10
                                                                                                                                                                                                                                                                          • Slide 11
                                                                                                                                                                                                                                                                          • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                          • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                          • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                          • Individualism
                                                                                                                                                                                                                                                                          • Quote activity
                                                                                                                                                                                                                                                                          • Quote breakdown
                                                                                                                                                                                                                                                                          • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                          • Purpose of Government
                                                                                                                                                                                                                                                                          • Slide 20
                                                                                                                                                                                                                                                                          • 3 Theorists
                                                                                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                                                                                          • Origins of American Government A customized government
                                                                                                                                                                                                                                                                          • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                          • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                          • With which theory do you agree more Why
                                                                                                                                                                                                                                                                          • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                          • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                          • Groups Block 2
                                                                                                                                                                                                                                                                          • Groups Block 4
                                                                                                                                                                                                                                                                          • Balloon Game
                                                                                                                                                                                                                                                                          • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                          • Balloon Game Debriefing
                                                                                                                                                                                                                                                                          • Political Theories
                                                                                                                                                                                                                                                                          • Social Contract
                                                                                                                                                                                                                                                                          • Natural Rights
                                                                                                                                                                                                                                                                          • Democracy
                                                                                                                                                                                                                                                                          • Concepts of Government
                                                                                                                                                                                                                                                                          • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                          • Warm Up 7
                                                                                                                                                                                                                                                                          • And after the Constitution
                                                                                                                                                                                                                                                                          • Activity (2)
                                                                                                                                                                                                                                                                          • Picture Activity
                                                                                                                                                                                                                                                                          • Constitutional Convention
                                                                                                                                                                                                                                                                          • Purpose of the Convention
                                                                                                                                                                                                                                                                          • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                          • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                          • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                          • Your Task
                                                                                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                                                                                          • States agree
                                                                                                                                                                                                                                                                          • Quote
                                                                                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                                                                                          • Structure of Constitution
                                                                                                                                                                                                                                                                          • 6 Purpose of Government
                                                                                                                                                                                                                                                                          • Structure of Constitution (2)
                                                                                                                                                                                                                                                                          • Structure of Constitution (3)
                                                                                                                                                                                                                                                                          • Principles of Constitution
                                                                                                                                                                                                                                                                          • Activity
                                                                                                                                                                                                                                                                          • Slide 60
                                                                                                                                                                                                                                                                          • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                          • Question 1
                                                                                                                                                                                                                                                                          • Question 2
                                                                                                                                                                                                                                                                          • Question 3
                                                                                                                                                                                                                                                                          • Question 4
                                                                                                                                                                                                                                                                          • Question 5
                                                                                                                                                                                                                                                                          • Question 6
                                                                                                                                                                                                                                                                          • Question 7
                                                                                                                                                                                                                                                                          • Question 8
                                                                                                                                                                                                                                                                          • Groups
                                                                                                                                                                                                                                                                          • Separation of Powers
                                                                                                                                                                                                                                                                          • Video
                                                                                                                                                                                                                                                                          • Checks and Balances
                                                                                                                                                                                                                                                                          • Slide 74
                                                                                                                                                                                                                                                                          • Checks and balances
                                                                                                                                                                                                                                                                          • Basic Principles
                                                                                                                                                                                                                                                                          • Self- Worth
                                                                                                                                                                                                                                                                          • Equality
                                                                                                                                                                                                                                                                          • Compromise
                                                                                                                                                                                                                                                                          • Individual Freedom
                                                                                                                                                                                                                                                                          • Write your ownhellip
                                                                                                                                                                                                                                                                          • Slide 82
                                                                                                                                                                                                                                                                          • TED Talk
                                                                                                                                                                                                                                                                          • Closure
                                                                                                                                                                                                                                                                          • What is Economics
                                                                                                                                                                                                                                                                          • Economics ishellip
                                                                                                                                                                                                                                                                          • Back to our assumptionshellip
                                                                                                                                                                                                                                                                          • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                          • For the videohellip
                                                                                                                                                                                                                                                                          • Slide 90
                                                                                                                                                                                                                                                                          • Post Videohellip
                                                                                                                                                                                                                                                                          • Advertisement
                                                                                                                                                                                                                                                                          • Political Cartoon Analysis
                                                                                                                                                                                                                                                                          • Factors of Production
                                                                                                                                                                                                                                                                          • TASK
                                                                                                                                                                                                                                                                          • The price ofhellip
                                                                                                                                                                                                                                                                          • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                          • 1 What to produce
                                                                                                                                                                                                                                                                          • 2 How to produce it
                                                                                                                                                                                                                                                                          • 3 For whom to produce it
                                                                                                                                                                                                                                                                          • Application Activity
                                                                                                                                                                                                                                                                          • EQs
                                                                                                                                                                                                                                                                          • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                          • Group Activity Budget Activity
                                                                                                                                                                                                                                                                          • Slide 105
                                                                                                                                                                                                                                                                          • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                          • How do we make goods amp services
                                                                                                                                                                                                                                                                          • Economic Interdependence
                                                                                                                                                                                                                                                                          • Slide 109
                                                                                                                                                                                                                                                                          • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                          • Exampleshellip
                                                                                                                                                                                                                                                                          • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                          • Opportunity Cost
                                                                                                                                                                                                                                                                          • What else influences your choices
                                                                                                                                                                                                                                                                          • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                          • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                          • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                          • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                          • Production Possibilities Frontier
                                                                                                                                                                                                                                                                          • PPF Assumptions
                                                                                                                                                                                                                                                                          • Slide 121
                                                                                                                                                                                                                                                                          • Production Possibilities Curve
                                                                                                                                                                                                                                                                          • The Choices Nations Make
                                                                                                                                                                                                                                                                          • Economic Growth
                                                                                                                                                                                                                                                                          • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                          • Productivity
                                                                                                                                                                                                                                                                          • Locations on a PPF
                                                                                                                                                                                                                                                                          • Slide 128
                                                                                                                                                                                                                                                                          • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                          • Economic Systems
                                                                                                                                                                                                                                                                          • Jigsaw activity
                                                                                                                                                                                                                                                                          • Slide 132
                                                                                                                                                                                                                                                                          • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                          • Review of Economic Systems
                                                                                                                                                                                                                                                                          • Slide 135
                                                                                                                                                                                                                                                                          • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                          • Which economic system does the US use
                                                                                                                                                                                                                                                                          • The American Economic System
                                                                                                                                                                                                                                                                          • The US mixed economy
                                                                                                                                                                                                                                                                          • Slide 140
                                                                                                                                                                                                                                                                          • Think backhellip
                                                                                                                                                                                                                                                                          • US Economic System Characteristics
                                                                                                                                                                                                                                                                          • Slide 143
                                                                                                                                                                                                                                                                          • Understanding how all parts fit together
                                                                                                                                                                                                                                                                          • Marriage Vows
                                                                                                                                                                                                                                                                          • Do you remember
                                                                                                                                                                                                                                                                          • Slide 147

                                                                                                                                                                                                                                                                            The US mixed economybull In a mixed economyhellip

                                                                                                                                                                                                                                                                            Individuals Own the factors of production Possess freedom to produce or consume Must operate under confines of law

                                                                                                                                                                                                                                                                            Government Protects workers and consumers Regulates business and preserves competition Provide public goodsbenefits

                                                                                                                                                                                                                                                                            Think backhellip

                                                                                                                                                                                                                                                                            bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                                            US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                                            2 Limited government

                                                                                                                                                                                                                                                                            3 Equal opportunity

                                                                                                                                                                                                                                                                            4 Competition

                                                                                                                                                                                                                                                                            5 Profit motive

                                                                                                                                                                                                                                                                            6 Property Rights

                                                                                                                                                                                                                                                                            7 Binding Contracts

                                                                                                                                                                                                                                                                            Understanding how all parts fit together

                                                                                                                                                                                                                                                                            Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                            2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                            where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                            Shows interdependence between

                                                                                                                                                                                                                                                                            businesses and individuals

                                                                                                                                                                                                                                                                            Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                            are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                            bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                            bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                            bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                            bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                            Do you remember

                                                                                                                                                                                                                                                                            bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                            democracy and mixed economy

                                                                                                                                                                                                                                                                            • Foundations of Government and Economics
                                                                                                                                                                                                                                                                            • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                            • Slide 3
                                                                                                                                                                                                                                                                            • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                            • Introductory thoughts hellip
                                                                                                                                                                                                                                                                            • Slide 6
                                                                                                                                                                                                                                                                            • 2 How about to your life
                                                                                                                                                                                                                                                                            • Slide 8
                                                                                                                                                                                                                                                                            • Slide 9
                                                                                                                                                                                                                                                                            • Slide 10
                                                                                                                                                                                                                                                                            • Slide 11
                                                                                                                                                                                                                                                                            • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                            • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                            • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                            • Individualism
                                                                                                                                                                                                                                                                            • Quote activity
                                                                                                                                                                                                                                                                            • Quote breakdown
                                                                                                                                                                                                                                                                            • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                            • Purpose of Government
                                                                                                                                                                                                                                                                            • Slide 20
                                                                                                                                                                                                                                                                            • 3 Theorists
                                                                                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                                                                                            • Origins of American Government A customized government
                                                                                                                                                                                                                                                                            • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                            • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                            • With which theory do you agree more Why
                                                                                                                                                                                                                                                                            • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                            • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                            • Groups Block 2
                                                                                                                                                                                                                                                                            • Groups Block 4
                                                                                                                                                                                                                                                                            • Balloon Game
                                                                                                                                                                                                                                                                            • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                            • Balloon Game Debriefing
                                                                                                                                                                                                                                                                            • Political Theories
                                                                                                                                                                                                                                                                            • Social Contract
                                                                                                                                                                                                                                                                            • Natural Rights
                                                                                                                                                                                                                                                                            • Democracy
                                                                                                                                                                                                                                                                            • Concepts of Government
                                                                                                                                                                                                                                                                            • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                            • Warm Up 7
                                                                                                                                                                                                                                                                            • And after the Constitution
                                                                                                                                                                                                                                                                            • Activity (2)
                                                                                                                                                                                                                                                                            • Picture Activity
                                                                                                                                                                                                                                                                            • Constitutional Convention
                                                                                                                                                                                                                                                                            • Purpose of the Convention
                                                                                                                                                                                                                                                                            • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                            • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                            • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                            • Your Task
                                                                                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                                                                                            • States agree
                                                                                                                                                                                                                                                                            • Quote
                                                                                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                                                                                            • Structure of Constitution
                                                                                                                                                                                                                                                                            • 6 Purpose of Government
                                                                                                                                                                                                                                                                            • Structure of Constitution (2)
                                                                                                                                                                                                                                                                            • Structure of Constitution (3)
                                                                                                                                                                                                                                                                            • Principles of Constitution
                                                                                                                                                                                                                                                                            • Activity
                                                                                                                                                                                                                                                                            • Slide 60
                                                                                                                                                                                                                                                                            • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                            • Question 1
                                                                                                                                                                                                                                                                            • Question 2
                                                                                                                                                                                                                                                                            • Question 3
                                                                                                                                                                                                                                                                            • Question 4
                                                                                                                                                                                                                                                                            • Question 5
                                                                                                                                                                                                                                                                            • Question 6
                                                                                                                                                                                                                                                                            • Question 7
                                                                                                                                                                                                                                                                            • Question 8
                                                                                                                                                                                                                                                                            • Groups
                                                                                                                                                                                                                                                                            • Separation of Powers
                                                                                                                                                                                                                                                                            • Video
                                                                                                                                                                                                                                                                            • Checks and Balances
                                                                                                                                                                                                                                                                            • Slide 74
                                                                                                                                                                                                                                                                            • Checks and balances
                                                                                                                                                                                                                                                                            • Basic Principles
                                                                                                                                                                                                                                                                            • Self- Worth
                                                                                                                                                                                                                                                                            • Equality
                                                                                                                                                                                                                                                                            • Compromise
                                                                                                                                                                                                                                                                            • Individual Freedom
                                                                                                                                                                                                                                                                            • Write your ownhellip
                                                                                                                                                                                                                                                                            • Slide 82
                                                                                                                                                                                                                                                                            • TED Talk
                                                                                                                                                                                                                                                                            • Closure
                                                                                                                                                                                                                                                                            • What is Economics
                                                                                                                                                                                                                                                                            • Economics ishellip
                                                                                                                                                                                                                                                                            • Back to our assumptionshellip
                                                                                                                                                                                                                                                                            • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                            • For the videohellip
                                                                                                                                                                                                                                                                            • Slide 90
                                                                                                                                                                                                                                                                            • Post Videohellip
                                                                                                                                                                                                                                                                            • Advertisement
                                                                                                                                                                                                                                                                            • Political Cartoon Analysis
                                                                                                                                                                                                                                                                            • Factors of Production
                                                                                                                                                                                                                                                                            • TASK
                                                                                                                                                                                                                                                                            • The price ofhellip
                                                                                                                                                                                                                                                                            • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                            • 1 What to produce
                                                                                                                                                                                                                                                                            • 2 How to produce it
                                                                                                                                                                                                                                                                            • 3 For whom to produce it
                                                                                                                                                                                                                                                                            • Application Activity
                                                                                                                                                                                                                                                                            • EQs
                                                                                                                                                                                                                                                                            • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                            • Group Activity Budget Activity
                                                                                                                                                                                                                                                                            • Slide 105
                                                                                                                                                                                                                                                                            • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                            • How do we make goods amp services
                                                                                                                                                                                                                                                                            • Economic Interdependence
                                                                                                                                                                                                                                                                            • Slide 109
                                                                                                                                                                                                                                                                            • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                            • Exampleshellip
                                                                                                                                                                                                                                                                            • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                            • Opportunity Cost
                                                                                                                                                                                                                                                                            • What else influences your choices
                                                                                                                                                                                                                                                                            • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                            • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                            • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                            • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                            • Production Possibilities Frontier
                                                                                                                                                                                                                                                                            • PPF Assumptions
                                                                                                                                                                                                                                                                            • Slide 121
                                                                                                                                                                                                                                                                            • Production Possibilities Curve
                                                                                                                                                                                                                                                                            • The Choices Nations Make
                                                                                                                                                                                                                                                                            • Economic Growth
                                                                                                                                                                                                                                                                            • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                            • Productivity
                                                                                                                                                                                                                                                                            • Locations on a PPF
                                                                                                                                                                                                                                                                            • Slide 128
                                                                                                                                                                                                                                                                            • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                            • Economic Systems
                                                                                                                                                                                                                                                                            • Jigsaw activity
                                                                                                                                                                                                                                                                            • Slide 132
                                                                                                                                                                                                                                                                            • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                            • Review of Economic Systems
                                                                                                                                                                                                                                                                            • Slide 135
                                                                                                                                                                                                                                                                            • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                            • Which economic system does the US use
                                                                                                                                                                                                                                                                            • The American Economic System
                                                                                                                                                                                                                                                                            • The US mixed economy
                                                                                                                                                                                                                                                                            • Slide 140
                                                                                                                                                                                                                                                                            • Think backhellip
                                                                                                                                                                                                                                                                            • US Economic System Characteristics
                                                                                                                                                                                                                                                                            • Slide 143
                                                                                                                                                                                                                                                                            • Understanding how all parts fit together
                                                                                                                                                                                                                                                                            • Marriage Vows
                                                                                                                                                                                                                                                                            • Do you remember
                                                                                                                                                                                                                                                                            • Slide 147

                                                                                                                                                                                                                                                                              Think backhellip

                                                                                                                                                                                                                                                                              bullWhat does this remind you of from the beginning of the unit

                                                                                                                                                                                                                                                                              US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                                              2 Limited government

                                                                                                                                                                                                                                                                              3 Equal opportunity

                                                                                                                                                                                                                                                                              4 Competition

                                                                                                                                                                                                                                                                              5 Profit motive

                                                                                                                                                                                                                                                                              6 Property Rights

                                                                                                                                                                                                                                                                              7 Binding Contracts

                                                                                                                                                                                                                                                                              Understanding how all parts fit together

                                                                                                                                                                                                                                                                              Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                              2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                              where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                              Shows interdependence between

                                                                                                                                                                                                                                                                              businesses and individuals

                                                                                                                                                                                                                                                                              Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                              are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                              bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                              bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                              bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                              bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                              Do you remember

                                                                                                                                                                                                                                                                              bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                              democracy and mixed economy

                                                                                                                                                                                                                                                                              • Foundations of Government and Economics
                                                                                                                                                                                                                                                                              • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                              • Slide 3
                                                                                                                                                                                                                                                                              • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                              • Introductory thoughts hellip
                                                                                                                                                                                                                                                                              • Slide 6
                                                                                                                                                                                                                                                                              • 2 How about to your life
                                                                                                                                                                                                                                                                              • Slide 8
                                                                                                                                                                                                                                                                              • Slide 9
                                                                                                                                                                                                                                                                              • Slide 10
                                                                                                                                                                                                                                                                              • Slide 11
                                                                                                                                                                                                                                                                              • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                              • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                              • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                              • Individualism
                                                                                                                                                                                                                                                                              • Quote activity
                                                                                                                                                                                                                                                                              • Quote breakdown
                                                                                                                                                                                                                                                                              • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                              • Purpose of Government
                                                                                                                                                                                                                                                                              • Slide 20
                                                                                                                                                                                                                                                                              • 3 Theorists
                                                                                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                                                                                              • Origins of American Government A customized government
                                                                                                                                                                                                                                                                              • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                              • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                              • With which theory do you agree more Why
                                                                                                                                                                                                                                                                              • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                              • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                              • Groups Block 2
                                                                                                                                                                                                                                                                              • Groups Block 4
                                                                                                                                                                                                                                                                              • Balloon Game
                                                                                                                                                                                                                                                                              • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                              • Balloon Game Debriefing
                                                                                                                                                                                                                                                                              • Political Theories
                                                                                                                                                                                                                                                                              • Social Contract
                                                                                                                                                                                                                                                                              • Natural Rights
                                                                                                                                                                                                                                                                              • Democracy
                                                                                                                                                                                                                                                                              • Concepts of Government
                                                                                                                                                                                                                                                                              • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                              • Warm Up 7
                                                                                                                                                                                                                                                                              • And after the Constitution
                                                                                                                                                                                                                                                                              • Activity (2)
                                                                                                                                                                                                                                                                              • Picture Activity
                                                                                                                                                                                                                                                                              • Constitutional Convention
                                                                                                                                                                                                                                                                              • Purpose of the Convention
                                                                                                                                                                                                                                                                              • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                              • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                              • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                              • Your Task
                                                                                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                                                                                              • States agree
                                                                                                                                                                                                                                                                              • Quote
                                                                                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                                                                                              • Structure of Constitution
                                                                                                                                                                                                                                                                              • 6 Purpose of Government
                                                                                                                                                                                                                                                                              • Structure of Constitution (2)
                                                                                                                                                                                                                                                                              • Structure of Constitution (3)
                                                                                                                                                                                                                                                                              • Principles of Constitution
                                                                                                                                                                                                                                                                              • Activity
                                                                                                                                                                                                                                                                              • Slide 60
                                                                                                                                                                                                                                                                              • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                              • Question 1
                                                                                                                                                                                                                                                                              • Question 2
                                                                                                                                                                                                                                                                              • Question 3
                                                                                                                                                                                                                                                                              • Question 4
                                                                                                                                                                                                                                                                              • Question 5
                                                                                                                                                                                                                                                                              • Question 6
                                                                                                                                                                                                                                                                              • Question 7
                                                                                                                                                                                                                                                                              • Question 8
                                                                                                                                                                                                                                                                              • Groups
                                                                                                                                                                                                                                                                              • Separation of Powers
                                                                                                                                                                                                                                                                              • Video
                                                                                                                                                                                                                                                                              • Checks and Balances
                                                                                                                                                                                                                                                                              • Slide 74
                                                                                                                                                                                                                                                                              • Checks and balances
                                                                                                                                                                                                                                                                              • Basic Principles
                                                                                                                                                                                                                                                                              • Self- Worth
                                                                                                                                                                                                                                                                              • Equality
                                                                                                                                                                                                                                                                              • Compromise
                                                                                                                                                                                                                                                                              • Individual Freedom
                                                                                                                                                                                                                                                                              • Write your ownhellip
                                                                                                                                                                                                                                                                              • Slide 82
                                                                                                                                                                                                                                                                              • TED Talk
                                                                                                                                                                                                                                                                              • Closure
                                                                                                                                                                                                                                                                              • What is Economics
                                                                                                                                                                                                                                                                              • Economics ishellip
                                                                                                                                                                                                                                                                              • Back to our assumptionshellip
                                                                                                                                                                                                                                                                              • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                              • For the videohellip
                                                                                                                                                                                                                                                                              • Slide 90
                                                                                                                                                                                                                                                                              • Post Videohellip
                                                                                                                                                                                                                                                                              • Advertisement
                                                                                                                                                                                                                                                                              • Political Cartoon Analysis
                                                                                                                                                                                                                                                                              • Factors of Production
                                                                                                                                                                                                                                                                              • TASK
                                                                                                                                                                                                                                                                              • The price ofhellip
                                                                                                                                                                                                                                                                              • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                              • 1 What to produce
                                                                                                                                                                                                                                                                              • 2 How to produce it
                                                                                                                                                                                                                                                                              • 3 For whom to produce it
                                                                                                                                                                                                                                                                              • Application Activity
                                                                                                                                                                                                                                                                              • EQs
                                                                                                                                                                                                                                                                              • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                              • Group Activity Budget Activity
                                                                                                                                                                                                                                                                              • Slide 105
                                                                                                                                                                                                                                                                              • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                              • How do we make goods amp services
                                                                                                                                                                                                                                                                              • Economic Interdependence
                                                                                                                                                                                                                                                                              • Slide 109
                                                                                                                                                                                                                                                                              • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                              • Exampleshellip
                                                                                                                                                                                                                                                                              • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                              • Opportunity Cost
                                                                                                                                                                                                                                                                              • What else influences your choices
                                                                                                                                                                                                                                                                              • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                              • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                              • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                              • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                              • Production Possibilities Frontier
                                                                                                                                                                                                                                                                              • PPF Assumptions
                                                                                                                                                                                                                                                                              • Slide 121
                                                                                                                                                                                                                                                                              • Production Possibilities Curve
                                                                                                                                                                                                                                                                              • The Choices Nations Make
                                                                                                                                                                                                                                                                              • Economic Growth
                                                                                                                                                                                                                                                                              • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                              • Productivity
                                                                                                                                                                                                                                                                              • Locations on a PPF
                                                                                                                                                                                                                                                                              • Slide 128
                                                                                                                                                                                                                                                                              • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                              • Economic Systems
                                                                                                                                                                                                                                                                              • Jigsaw activity
                                                                                                                                                                                                                                                                              • Slide 132
                                                                                                                                                                                                                                                                              • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                              • Review of Economic Systems
                                                                                                                                                                                                                                                                              • Slide 135
                                                                                                                                                                                                                                                                              • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                              • Which economic system does the US use
                                                                                                                                                                                                                                                                              • The American Economic System
                                                                                                                                                                                                                                                                              • The US mixed economy
                                                                                                                                                                                                                                                                              • Slide 140
                                                                                                                                                                                                                                                                              • Think backhellip
                                                                                                                                                                                                                                                                              • US Economic System Characteristics
                                                                                                                                                                                                                                                                              • Slide 143
                                                                                                                                                                                                                                                                              • Understanding how all parts fit together
                                                                                                                                                                                                                                                                              • Marriage Vows
                                                                                                                                                                                                                                                                              • Do you remember
                                                                                                                                                                                                                                                                              • Slide 147

                                                                                                                                                                                                                                                                                US Economic System Characteristics 1 Economic freedom (ldquolaissez-fairerdquo)

                                                                                                                                                                                                                                                                                2 Limited government

                                                                                                                                                                                                                                                                                3 Equal opportunity

                                                                                                                                                                                                                                                                                4 Competition

                                                                                                                                                                                                                                                                                5 Profit motive

                                                                                                                                                                                                                                                                                6 Property Rights

                                                                                                                                                                                                                                                                                7 Binding Contracts

                                                                                                                                                                                                                                                                                Understanding how all parts fit together

                                                                                                                                                                                                                                                                                Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                                2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                                where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                                Shows interdependence between

                                                                                                                                                                                                                                                                                businesses and individuals

                                                                                                                                                                                                                                                                                Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                                are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                                bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                                bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                                bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                                bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                                Do you remember

                                                                                                                                                                                                                                                                                bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                                democracy and mixed economy

                                                                                                                                                                                                                                                                                • Foundations of Government and Economics
                                                                                                                                                                                                                                                                                • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                                • Slide 3
                                                                                                                                                                                                                                                                                • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                                • Introductory thoughts hellip
                                                                                                                                                                                                                                                                                • Slide 6
                                                                                                                                                                                                                                                                                • 2 How about to your life
                                                                                                                                                                                                                                                                                • Slide 8
                                                                                                                                                                                                                                                                                • Slide 9
                                                                                                                                                                                                                                                                                • Slide 10
                                                                                                                                                                                                                                                                                • Slide 11
                                                                                                                                                                                                                                                                                • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                                • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                                • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                                • Individualism
                                                                                                                                                                                                                                                                                • Quote activity
                                                                                                                                                                                                                                                                                • Quote breakdown
                                                                                                                                                                                                                                                                                • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                                • Purpose of Government
                                                                                                                                                                                                                                                                                • Slide 20
                                                                                                                                                                                                                                                                                • 3 Theorists
                                                                                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                                                                                • Origins of American Government A customized government
                                                                                                                                                                                                                                                                                • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                                • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                                • With which theory do you agree more Why
                                                                                                                                                                                                                                                                                • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                                • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                                • Groups Block 2
                                                                                                                                                                                                                                                                                • Groups Block 4
                                                                                                                                                                                                                                                                                • Balloon Game
                                                                                                                                                                                                                                                                                • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                                • Balloon Game Debriefing
                                                                                                                                                                                                                                                                                • Political Theories
                                                                                                                                                                                                                                                                                • Social Contract
                                                                                                                                                                                                                                                                                • Natural Rights
                                                                                                                                                                                                                                                                                • Democracy
                                                                                                                                                                                                                                                                                • Concepts of Government
                                                                                                                                                                                                                                                                                • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                                • Warm Up 7
                                                                                                                                                                                                                                                                                • And after the Constitution
                                                                                                                                                                                                                                                                                • Activity (2)
                                                                                                                                                                                                                                                                                • Picture Activity
                                                                                                                                                                                                                                                                                • Constitutional Convention
                                                                                                                                                                                                                                                                                • Purpose of the Convention
                                                                                                                                                                                                                                                                                • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                                • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                                • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                                • Your Task
                                                                                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                                                                                • States agree
                                                                                                                                                                                                                                                                                • Quote
                                                                                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                                                                                • Structure of Constitution
                                                                                                                                                                                                                                                                                • 6 Purpose of Government
                                                                                                                                                                                                                                                                                • Structure of Constitution (2)
                                                                                                                                                                                                                                                                                • Structure of Constitution (3)
                                                                                                                                                                                                                                                                                • Principles of Constitution
                                                                                                                                                                                                                                                                                • Activity
                                                                                                                                                                                                                                                                                • Slide 60
                                                                                                                                                                                                                                                                                • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                                • Question 1
                                                                                                                                                                                                                                                                                • Question 2
                                                                                                                                                                                                                                                                                • Question 3
                                                                                                                                                                                                                                                                                • Question 4
                                                                                                                                                                                                                                                                                • Question 5
                                                                                                                                                                                                                                                                                • Question 6
                                                                                                                                                                                                                                                                                • Question 7
                                                                                                                                                                                                                                                                                • Question 8
                                                                                                                                                                                                                                                                                • Groups
                                                                                                                                                                                                                                                                                • Separation of Powers
                                                                                                                                                                                                                                                                                • Video
                                                                                                                                                                                                                                                                                • Checks and Balances
                                                                                                                                                                                                                                                                                • Slide 74
                                                                                                                                                                                                                                                                                • Checks and balances
                                                                                                                                                                                                                                                                                • Basic Principles
                                                                                                                                                                                                                                                                                • Self- Worth
                                                                                                                                                                                                                                                                                • Equality
                                                                                                                                                                                                                                                                                • Compromise
                                                                                                                                                                                                                                                                                • Individual Freedom
                                                                                                                                                                                                                                                                                • Write your ownhellip
                                                                                                                                                                                                                                                                                • Slide 82
                                                                                                                                                                                                                                                                                • TED Talk
                                                                                                                                                                                                                                                                                • Closure
                                                                                                                                                                                                                                                                                • What is Economics
                                                                                                                                                                                                                                                                                • Economics ishellip
                                                                                                                                                                                                                                                                                • Back to our assumptionshellip
                                                                                                                                                                                                                                                                                • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                                • For the videohellip
                                                                                                                                                                                                                                                                                • Slide 90
                                                                                                                                                                                                                                                                                • Post Videohellip
                                                                                                                                                                                                                                                                                • Advertisement
                                                                                                                                                                                                                                                                                • Political Cartoon Analysis
                                                                                                                                                                                                                                                                                • Factors of Production
                                                                                                                                                                                                                                                                                • TASK
                                                                                                                                                                                                                                                                                • The price ofhellip
                                                                                                                                                                                                                                                                                • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                                • 1 What to produce
                                                                                                                                                                                                                                                                                • 2 How to produce it
                                                                                                                                                                                                                                                                                • 3 For whom to produce it
                                                                                                                                                                                                                                                                                • Application Activity
                                                                                                                                                                                                                                                                                • EQs
                                                                                                                                                                                                                                                                                • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                                • Group Activity Budget Activity
                                                                                                                                                                                                                                                                                • Slide 105
                                                                                                                                                                                                                                                                                • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                                • How do we make goods amp services
                                                                                                                                                                                                                                                                                • Economic Interdependence
                                                                                                                                                                                                                                                                                • Slide 109
                                                                                                                                                                                                                                                                                • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                                • Exampleshellip
                                                                                                                                                                                                                                                                                • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                                • Opportunity Cost
                                                                                                                                                                                                                                                                                • What else influences your choices
                                                                                                                                                                                                                                                                                • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                                • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                                • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                                • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                                • Production Possibilities Frontier
                                                                                                                                                                                                                                                                                • PPF Assumptions
                                                                                                                                                                                                                                                                                • Slide 121
                                                                                                                                                                                                                                                                                • Production Possibilities Curve
                                                                                                                                                                                                                                                                                • The Choices Nations Make
                                                                                                                                                                                                                                                                                • Economic Growth
                                                                                                                                                                                                                                                                                • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                                • Productivity
                                                                                                                                                                                                                                                                                • Locations on a PPF
                                                                                                                                                                                                                                                                                • Slide 128
                                                                                                                                                                                                                                                                                • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                                • Economic Systems
                                                                                                                                                                                                                                                                                • Jigsaw activity
                                                                                                                                                                                                                                                                                • Slide 132
                                                                                                                                                                                                                                                                                • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                                • Review of Economic Systems
                                                                                                                                                                                                                                                                                • Slide 135
                                                                                                                                                                                                                                                                                • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                                • Which economic system does the US use
                                                                                                                                                                                                                                                                                • The American Economic System
                                                                                                                                                                                                                                                                                • The US mixed economy
                                                                                                                                                                                                                                                                                • Slide 140
                                                                                                                                                                                                                                                                                • Think backhellip
                                                                                                                                                                                                                                                                                • US Economic System Characteristics
                                                                                                                                                                                                                                                                                • Slide 143
                                                                                                                                                                                                                                                                                • Understanding how all parts fit together
                                                                                                                                                                                                                                                                                • Marriage Vows
                                                                                                                                                                                                                                                                                • Do you remember
                                                                                                                                                                                                                                                                                • Slide 147

                                                                                                                                                                                                                                                                                  Understanding how all parts fit together

                                                                                                                                                                                                                                                                                  Circular Flow of Economic Activity Represents a market economy

                                                                                                                                                                                                                                                                                  2 main ldquomarketsrdquoProduct Market Factor Market

                                                                                                                                                                                                                                                                                  where goods and services where the 4 factors ofare boughtsold production are boughtsold

                                                                                                                                                                                                                                                                                  Shows interdependence between

                                                                                                                                                                                                                                                                                  businesses and individuals

                                                                                                                                                                                                                                                                                  Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                                  are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                                  bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                                  bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                                  bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                                  bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                                  Do you remember

                                                                                                                                                                                                                                                                                  bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                                  democracy and mixed economy

                                                                                                                                                                                                                                                                                  • Foundations of Government and Economics
                                                                                                                                                                                                                                                                                  • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                                  • Slide 3
                                                                                                                                                                                                                                                                                  • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                                  • Introductory thoughts hellip
                                                                                                                                                                                                                                                                                  • Slide 6
                                                                                                                                                                                                                                                                                  • 2 How about to your life
                                                                                                                                                                                                                                                                                  • Slide 8
                                                                                                                                                                                                                                                                                  • Slide 9
                                                                                                                                                                                                                                                                                  • Slide 10
                                                                                                                                                                                                                                                                                  • Slide 11
                                                                                                                                                                                                                                                                                  • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                                  • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                                  • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                                  • Individualism
                                                                                                                                                                                                                                                                                  • Quote activity
                                                                                                                                                                                                                                                                                  • Quote breakdown
                                                                                                                                                                                                                                                                                  • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                                  • Purpose of Government
                                                                                                                                                                                                                                                                                  • Slide 20
                                                                                                                                                                                                                                                                                  • 3 Theorists
                                                                                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                                                                                  • Origins of American Government A customized government
                                                                                                                                                                                                                                                                                  • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                                  • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                                  • With which theory do you agree more Why
                                                                                                                                                                                                                                                                                  • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                                  • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                                  • Groups Block 2
                                                                                                                                                                                                                                                                                  • Groups Block 4
                                                                                                                                                                                                                                                                                  • Balloon Game
                                                                                                                                                                                                                                                                                  • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                                  • Balloon Game Debriefing
                                                                                                                                                                                                                                                                                  • Political Theories
                                                                                                                                                                                                                                                                                  • Social Contract
                                                                                                                                                                                                                                                                                  • Natural Rights
                                                                                                                                                                                                                                                                                  • Democracy
                                                                                                                                                                                                                                                                                  • Concepts of Government
                                                                                                                                                                                                                                                                                  • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                                  • Warm Up 7
                                                                                                                                                                                                                                                                                  • And after the Constitution
                                                                                                                                                                                                                                                                                  • Activity (2)
                                                                                                                                                                                                                                                                                  • Picture Activity
                                                                                                                                                                                                                                                                                  • Constitutional Convention
                                                                                                                                                                                                                                                                                  • Purpose of the Convention
                                                                                                                                                                                                                                                                                  • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                                  • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                                  • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                                  • Your Task
                                                                                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                                                                                  • States agree
                                                                                                                                                                                                                                                                                  • Quote
                                                                                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                                                                                  • Structure of Constitution
                                                                                                                                                                                                                                                                                  • 6 Purpose of Government
                                                                                                                                                                                                                                                                                  • Structure of Constitution (2)
                                                                                                                                                                                                                                                                                  • Structure of Constitution (3)
                                                                                                                                                                                                                                                                                  • Principles of Constitution
                                                                                                                                                                                                                                                                                  • Activity
                                                                                                                                                                                                                                                                                  • Slide 60
                                                                                                                                                                                                                                                                                  • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                                  • Question 1
                                                                                                                                                                                                                                                                                  • Question 2
                                                                                                                                                                                                                                                                                  • Question 3
                                                                                                                                                                                                                                                                                  • Question 4
                                                                                                                                                                                                                                                                                  • Question 5
                                                                                                                                                                                                                                                                                  • Question 6
                                                                                                                                                                                                                                                                                  • Question 7
                                                                                                                                                                                                                                                                                  • Question 8
                                                                                                                                                                                                                                                                                  • Groups
                                                                                                                                                                                                                                                                                  • Separation of Powers
                                                                                                                                                                                                                                                                                  • Video
                                                                                                                                                                                                                                                                                  • Checks and Balances
                                                                                                                                                                                                                                                                                  • Slide 74
                                                                                                                                                                                                                                                                                  • Checks and balances
                                                                                                                                                                                                                                                                                  • Basic Principles
                                                                                                                                                                                                                                                                                  • Self- Worth
                                                                                                                                                                                                                                                                                  • Equality
                                                                                                                                                                                                                                                                                  • Compromise
                                                                                                                                                                                                                                                                                  • Individual Freedom
                                                                                                                                                                                                                                                                                  • Write your ownhellip
                                                                                                                                                                                                                                                                                  • Slide 82
                                                                                                                                                                                                                                                                                  • TED Talk
                                                                                                                                                                                                                                                                                  • Closure
                                                                                                                                                                                                                                                                                  • What is Economics
                                                                                                                                                                                                                                                                                  • Economics ishellip
                                                                                                                                                                                                                                                                                  • Back to our assumptionshellip
                                                                                                                                                                                                                                                                                  • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                                  • For the videohellip
                                                                                                                                                                                                                                                                                  • Slide 90
                                                                                                                                                                                                                                                                                  • Post Videohellip
                                                                                                                                                                                                                                                                                  • Advertisement
                                                                                                                                                                                                                                                                                  • Political Cartoon Analysis
                                                                                                                                                                                                                                                                                  • Factors of Production
                                                                                                                                                                                                                                                                                  • TASK
                                                                                                                                                                                                                                                                                  • The price ofhellip
                                                                                                                                                                                                                                                                                  • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                                  • 1 What to produce
                                                                                                                                                                                                                                                                                  • 2 How to produce it
                                                                                                                                                                                                                                                                                  • 3 For whom to produce it
                                                                                                                                                                                                                                                                                  • Application Activity
                                                                                                                                                                                                                                                                                  • EQs
                                                                                                                                                                                                                                                                                  • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                                  • Group Activity Budget Activity
                                                                                                                                                                                                                                                                                  • Slide 105
                                                                                                                                                                                                                                                                                  • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                                  • How do we make goods amp services
                                                                                                                                                                                                                                                                                  • Economic Interdependence
                                                                                                                                                                                                                                                                                  • Slide 109
                                                                                                                                                                                                                                                                                  • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                                  • Exampleshellip
                                                                                                                                                                                                                                                                                  • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                                  • Opportunity Cost
                                                                                                                                                                                                                                                                                  • What else influences your choices
                                                                                                                                                                                                                                                                                  • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                                  • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                                  • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                                  • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                                  • Production Possibilities Frontier
                                                                                                                                                                                                                                                                                  • PPF Assumptions
                                                                                                                                                                                                                                                                                  • Slide 121
                                                                                                                                                                                                                                                                                  • Production Possibilities Curve
                                                                                                                                                                                                                                                                                  • The Choices Nations Make
                                                                                                                                                                                                                                                                                  • Economic Growth
                                                                                                                                                                                                                                                                                  • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                                  • Productivity
                                                                                                                                                                                                                                                                                  • Locations on a PPF
                                                                                                                                                                                                                                                                                  • Slide 128
                                                                                                                                                                                                                                                                                  • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                                  • Economic Systems
                                                                                                                                                                                                                                                                                  • Jigsaw activity
                                                                                                                                                                                                                                                                                  • Slide 132
                                                                                                                                                                                                                                                                                  • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                                  • Review of Economic Systems
                                                                                                                                                                                                                                                                                  • Slide 135
                                                                                                                                                                                                                                                                                  • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                                  • Which economic system does the US use
                                                                                                                                                                                                                                                                                  • The American Economic System
                                                                                                                                                                                                                                                                                  • The US mixed economy
                                                                                                                                                                                                                                                                                  • Slide 140
                                                                                                                                                                                                                                                                                  • Think backhellip
                                                                                                                                                                                                                                                                                  • US Economic System Characteristics
                                                                                                                                                                                                                                                                                  • Slide 143
                                                                                                                                                                                                                                                                                  • Understanding how all parts fit together
                                                                                                                                                                                                                                                                                  • Marriage Vows
                                                                                                                                                                                                                                                                                  • Do you remember
                                                                                                                                                                                                                                                                                  • Slide 147

                                                                                                                                                                                                                                                                                    Marriage Vowsbull CONGRATULATIONS The government and the economy

                                                                                                                                                                                                                                                                                    are renewing their marriage vows You are cordially invited to the ceremony but this perfect couple needs your help

                                                                                                                                                                                                                                                                                    bull Using what you have learned this unit and using the textbook

                                                                                                                                                                                                                                                                                    bull You will explain the way government and the economy are connected (made for each other) You will demonstrate this answer in the format of wedding vows

                                                                                                                                                                                                                                                                                    bull You must use at least 5 of the following words Producers Taxes Consumers Restrictions Markets Freedom GoodsServices Limited

                                                                                                                                                                                                                                                                                    bull Look back to US Economic System Characteristics bull Each set of vows must be at least 6 lines

                                                                                                                                                                                                                                                                                    Do you remember

                                                                                                                                                                                                                                                                                    bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                                    democracy and mixed economy

                                                                                                                                                                                                                                                                                    • Foundations of Government and Economics
                                                                                                                                                                                                                                                                                    • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                                    • Slide 3
                                                                                                                                                                                                                                                                                    • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                                    • Introductory thoughts hellip
                                                                                                                                                                                                                                                                                    • Slide 6
                                                                                                                                                                                                                                                                                    • 2 How about to your life
                                                                                                                                                                                                                                                                                    • Slide 8
                                                                                                                                                                                                                                                                                    • Slide 9
                                                                                                                                                                                                                                                                                    • Slide 10
                                                                                                                                                                                                                                                                                    • Slide 11
                                                                                                                                                                                                                                                                                    • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                                    • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                                    • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                                    • Individualism
                                                                                                                                                                                                                                                                                    • Quote activity
                                                                                                                                                                                                                                                                                    • Quote breakdown
                                                                                                                                                                                                                                                                                    • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                                    • Purpose of Government
                                                                                                                                                                                                                                                                                    • Slide 20
                                                                                                                                                                                                                                                                                    • 3 Theorists
                                                                                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                                                                                    • Origins of American Government A customized government
                                                                                                                                                                                                                                                                                    • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                                    • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                                    • With which theory do you agree more Why
                                                                                                                                                                                                                                                                                    • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                                    • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                                    • Groups Block 2
                                                                                                                                                                                                                                                                                    • Groups Block 4
                                                                                                                                                                                                                                                                                    • Balloon Game
                                                                                                                                                                                                                                                                                    • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                                    • Balloon Game Debriefing
                                                                                                                                                                                                                                                                                    • Political Theories
                                                                                                                                                                                                                                                                                    • Social Contract
                                                                                                                                                                                                                                                                                    • Natural Rights
                                                                                                                                                                                                                                                                                    • Democracy
                                                                                                                                                                                                                                                                                    • Concepts of Government
                                                                                                                                                                                                                                                                                    • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                                    • Warm Up 7
                                                                                                                                                                                                                                                                                    • And after the Constitution
                                                                                                                                                                                                                                                                                    • Activity (2)
                                                                                                                                                                                                                                                                                    • Picture Activity
                                                                                                                                                                                                                                                                                    • Constitutional Convention
                                                                                                                                                                                                                                                                                    • Purpose of the Convention
                                                                                                                                                                                                                                                                                    • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                                    • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                                    • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                                    • Your Task
                                                                                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                                                                                    • States agree
                                                                                                                                                                                                                                                                                    • Quote
                                                                                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                                                                                    • Structure of Constitution
                                                                                                                                                                                                                                                                                    • 6 Purpose of Government
                                                                                                                                                                                                                                                                                    • Structure of Constitution (2)
                                                                                                                                                                                                                                                                                    • Structure of Constitution (3)
                                                                                                                                                                                                                                                                                    • Principles of Constitution
                                                                                                                                                                                                                                                                                    • Activity
                                                                                                                                                                                                                                                                                    • Slide 60
                                                                                                                                                                                                                                                                                    • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                                    • Question 1
                                                                                                                                                                                                                                                                                    • Question 2
                                                                                                                                                                                                                                                                                    • Question 3
                                                                                                                                                                                                                                                                                    • Question 4
                                                                                                                                                                                                                                                                                    • Question 5
                                                                                                                                                                                                                                                                                    • Question 6
                                                                                                                                                                                                                                                                                    • Question 7
                                                                                                                                                                                                                                                                                    • Question 8
                                                                                                                                                                                                                                                                                    • Groups
                                                                                                                                                                                                                                                                                    • Separation of Powers
                                                                                                                                                                                                                                                                                    • Video
                                                                                                                                                                                                                                                                                    • Checks and Balances
                                                                                                                                                                                                                                                                                    • Slide 74
                                                                                                                                                                                                                                                                                    • Checks and balances
                                                                                                                                                                                                                                                                                    • Basic Principles
                                                                                                                                                                                                                                                                                    • Self- Worth
                                                                                                                                                                                                                                                                                    • Equality
                                                                                                                                                                                                                                                                                    • Compromise
                                                                                                                                                                                                                                                                                    • Individual Freedom
                                                                                                                                                                                                                                                                                    • Write your ownhellip
                                                                                                                                                                                                                                                                                    • Slide 82
                                                                                                                                                                                                                                                                                    • TED Talk
                                                                                                                                                                                                                                                                                    • Closure
                                                                                                                                                                                                                                                                                    • What is Economics
                                                                                                                                                                                                                                                                                    • Economics ishellip
                                                                                                                                                                                                                                                                                    • Back to our assumptionshellip
                                                                                                                                                                                                                                                                                    • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                                    • For the videohellip
                                                                                                                                                                                                                                                                                    • Slide 90
                                                                                                                                                                                                                                                                                    • Post Videohellip
                                                                                                                                                                                                                                                                                    • Advertisement
                                                                                                                                                                                                                                                                                    • Political Cartoon Analysis
                                                                                                                                                                                                                                                                                    • Factors of Production
                                                                                                                                                                                                                                                                                    • TASK
                                                                                                                                                                                                                                                                                    • The price ofhellip
                                                                                                                                                                                                                                                                                    • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                                    • 1 What to produce
                                                                                                                                                                                                                                                                                    • 2 How to produce it
                                                                                                                                                                                                                                                                                    • 3 For whom to produce it
                                                                                                                                                                                                                                                                                    • Application Activity
                                                                                                                                                                                                                                                                                    • EQs
                                                                                                                                                                                                                                                                                    • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                                    • Group Activity Budget Activity
                                                                                                                                                                                                                                                                                    • Slide 105
                                                                                                                                                                                                                                                                                    • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                                    • How do we make goods amp services
                                                                                                                                                                                                                                                                                    • Economic Interdependence
                                                                                                                                                                                                                                                                                    • Slide 109
                                                                                                                                                                                                                                                                                    • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                                    • Exampleshellip
                                                                                                                                                                                                                                                                                    • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                                    • Opportunity Cost
                                                                                                                                                                                                                                                                                    • What else influences your choices
                                                                                                                                                                                                                                                                                    • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                                    • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                                    • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                                    • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                                    • Production Possibilities Frontier
                                                                                                                                                                                                                                                                                    • PPF Assumptions
                                                                                                                                                                                                                                                                                    • Slide 121
                                                                                                                                                                                                                                                                                    • Production Possibilities Curve
                                                                                                                                                                                                                                                                                    • The Choices Nations Make
                                                                                                                                                                                                                                                                                    • Economic Growth
                                                                                                                                                                                                                                                                                    • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                                    • Productivity
                                                                                                                                                                                                                                                                                    • Locations on a PPF
                                                                                                                                                                                                                                                                                    • Slide 128
                                                                                                                                                                                                                                                                                    • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                                    • Economic Systems
                                                                                                                                                                                                                                                                                    • Jigsaw activity
                                                                                                                                                                                                                                                                                    • Slide 132
                                                                                                                                                                                                                                                                                    • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                                    • Review of Economic Systems
                                                                                                                                                                                                                                                                                    • Slide 135
                                                                                                                                                                                                                                                                                    • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                                    • Which economic system does the US use
                                                                                                                                                                                                                                                                                    • The American Economic System
                                                                                                                                                                                                                                                                                    • The US mixed economy
                                                                                                                                                                                                                                                                                    • Slide 140
                                                                                                                                                                                                                                                                                    • Think backhellip
                                                                                                                                                                                                                                                                                    • US Economic System Characteristics
                                                                                                                                                                                                                                                                                    • Slide 143
                                                                                                                                                                                                                                                                                    • Understanding how all parts fit together
                                                                                                                                                                                                                                                                                    • Marriage Vows
                                                                                                                                                                                                                                                                                    • Do you remember
                                                                                                                                                                                                                                                                                    • Slide 147

                                                                                                                                                                                                                                                                                      Do you remember

                                                                                                                                                                                                                                                                                      bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                                      democracy and mixed economy

                                                                                                                                                                                                                                                                                      • Foundations of Government and Economics
                                                                                                                                                                                                                                                                                      • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                                      • Slide 3
                                                                                                                                                                                                                                                                                      • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                                      • Introductory thoughts hellip
                                                                                                                                                                                                                                                                                      • Slide 6
                                                                                                                                                                                                                                                                                      • 2 How about to your life
                                                                                                                                                                                                                                                                                      • Slide 8
                                                                                                                                                                                                                                                                                      • Slide 9
                                                                                                                                                                                                                                                                                      • Slide 10
                                                                                                                                                                                                                                                                                      • Slide 11
                                                                                                                                                                                                                                                                                      • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                                      • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                                      • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                                      • Individualism
                                                                                                                                                                                                                                                                                      • Quote activity
                                                                                                                                                                                                                                                                                      • Quote breakdown
                                                                                                                                                                                                                                                                                      • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                                      • Purpose of Government
                                                                                                                                                                                                                                                                                      • Slide 20
                                                                                                                                                                                                                                                                                      • 3 Theorists
                                                                                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                                                                                      • Origins of American Government A customized government
                                                                                                                                                                                                                                                                                      • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                                      • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                                      • With which theory do you agree more Why
                                                                                                                                                                                                                                                                                      • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                                      • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                                      • Groups Block 2
                                                                                                                                                                                                                                                                                      • Groups Block 4
                                                                                                                                                                                                                                                                                      • Balloon Game
                                                                                                                                                                                                                                                                                      • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                                      • Balloon Game Debriefing
                                                                                                                                                                                                                                                                                      • Political Theories
                                                                                                                                                                                                                                                                                      • Social Contract
                                                                                                                                                                                                                                                                                      • Natural Rights
                                                                                                                                                                                                                                                                                      • Democracy
                                                                                                                                                                                                                                                                                      • Concepts of Government
                                                                                                                                                                                                                                                                                      • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                                      • Warm Up 7
                                                                                                                                                                                                                                                                                      • And after the Constitution
                                                                                                                                                                                                                                                                                      • Activity (2)
                                                                                                                                                                                                                                                                                      • Picture Activity
                                                                                                                                                                                                                                                                                      • Constitutional Convention
                                                                                                                                                                                                                                                                                      • Purpose of the Convention
                                                                                                                                                                                                                                                                                      • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                                      • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                                      • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                                      • Your Task
                                                                                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                                                                                      • States agree
                                                                                                                                                                                                                                                                                      • Quote
                                                                                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                                                                                      • Structure of Constitution
                                                                                                                                                                                                                                                                                      • 6 Purpose of Government
                                                                                                                                                                                                                                                                                      • Structure of Constitution (2)
                                                                                                                                                                                                                                                                                      • Structure of Constitution (3)
                                                                                                                                                                                                                                                                                      • Principles of Constitution
                                                                                                                                                                                                                                                                                      • Activity
                                                                                                                                                                                                                                                                                      • Slide 60
                                                                                                                                                                                                                                                                                      • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                                      • Question 1
                                                                                                                                                                                                                                                                                      • Question 2
                                                                                                                                                                                                                                                                                      • Question 3
                                                                                                                                                                                                                                                                                      • Question 4
                                                                                                                                                                                                                                                                                      • Question 5
                                                                                                                                                                                                                                                                                      • Question 6
                                                                                                                                                                                                                                                                                      • Question 7
                                                                                                                                                                                                                                                                                      • Question 8
                                                                                                                                                                                                                                                                                      • Groups
                                                                                                                                                                                                                                                                                      • Separation of Powers
                                                                                                                                                                                                                                                                                      • Video
                                                                                                                                                                                                                                                                                      • Checks and Balances
                                                                                                                                                                                                                                                                                      • Slide 74
                                                                                                                                                                                                                                                                                      • Checks and balances
                                                                                                                                                                                                                                                                                      • Basic Principles
                                                                                                                                                                                                                                                                                      • Self- Worth
                                                                                                                                                                                                                                                                                      • Equality
                                                                                                                                                                                                                                                                                      • Compromise
                                                                                                                                                                                                                                                                                      • Individual Freedom
                                                                                                                                                                                                                                                                                      • Write your ownhellip
                                                                                                                                                                                                                                                                                      • Slide 82
                                                                                                                                                                                                                                                                                      • TED Talk
                                                                                                                                                                                                                                                                                      • Closure
                                                                                                                                                                                                                                                                                      • What is Economics
                                                                                                                                                                                                                                                                                      • Economics ishellip
                                                                                                                                                                                                                                                                                      • Back to our assumptionshellip
                                                                                                                                                                                                                                                                                      • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                                      • For the videohellip
                                                                                                                                                                                                                                                                                      • Slide 90
                                                                                                                                                                                                                                                                                      • Post Videohellip
                                                                                                                                                                                                                                                                                      • Advertisement
                                                                                                                                                                                                                                                                                      • Political Cartoon Analysis
                                                                                                                                                                                                                                                                                      • Factors of Production
                                                                                                                                                                                                                                                                                      • TASK
                                                                                                                                                                                                                                                                                      • The price ofhellip
                                                                                                                                                                                                                                                                                      • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                                      • 1 What to produce
                                                                                                                                                                                                                                                                                      • 2 How to produce it
                                                                                                                                                                                                                                                                                      • 3 For whom to produce it
                                                                                                                                                                                                                                                                                      • Application Activity
                                                                                                                                                                                                                                                                                      • EQs
                                                                                                                                                                                                                                                                                      • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                                      • Group Activity Budget Activity
                                                                                                                                                                                                                                                                                      • Slide 105
                                                                                                                                                                                                                                                                                      • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                                      • How do we make goods amp services
                                                                                                                                                                                                                                                                                      • Economic Interdependence
                                                                                                                                                                                                                                                                                      • Slide 109
                                                                                                                                                                                                                                                                                      • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                                      • Exampleshellip
                                                                                                                                                                                                                                                                                      • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                                      • Opportunity Cost
                                                                                                                                                                                                                                                                                      • What else influences your choices
                                                                                                                                                                                                                                                                                      • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                                      • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                                      • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                                      • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                                      • Production Possibilities Frontier
                                                                                                                                                                                                                                                                                      • PPF Assumptions
                                                                                                                                                                                                                                                                                      • Slide 121
                                                                                                                                                                                                                                                                                      • Production Possibilities Curve
                                                                                                                                                                                                                                                                                      • The Choices Nations Make
                                                                                                                                                                                                                                                                                      • Economic Growth
                                                                                                                                                                                                                                                                                      • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                                      • Productivity
                                                                                                                                                                                                                                                                                      • Locations on a PPF
                                                                                                                                                                                                                                                                                      • Slide 128
                                                                                                                                                                                                                                                                                      • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                                      • Economic Systems
                                                                                                                                                                                                                                                                                      • Jigsaw activity
                                                                                                                                                                                                                                                                                      • Slide 132
                                                                                                                                                                                                                                                                                      • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                                      • Review of Economic Systems
                                                                                                                                                                                                                                                                                      • Slide 135
                                                                                                                                                                                                                                                                                      • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                                      • Which economic system does the US use
                                                                                                                                                                                                                                                                                      • The American Economic System
                                                                                                                                                                                                                                                                                      • The US mixed economy
                                                                                                                                                                                                                                                                                      • Slide 140
                                                                                                                                                                                                                                                                                      • Think backhellip
                                                                                                                                                                                                                                                                                      • US Economic System Characteristics
                                                                                                                                                                                                                                                                                      • Slide 143
                                                                                                                                                                                                                                                                                      • Understanding how all parts fit together
                                                                                                                                                                                                                                                                                      • Marriage Vows
                                                                                                                                                                                                                                                                                      • Do you remember
                                                                                                                                                                                                                                                                                      • Slide 147

                                                                                                                                                                                                                                                                                        bullWrite the following question downbullWhy does the United States have a

                                                                                                                                                                                                                                                                                        democracy and mixed economy

                                                                                                                                                                                                                                                                                        • Foundations of Government and Economics
                                                                                                                                                                                                                                                                                        • On your blank piece of paperhellip
                                                                                                                                                                                                                                                                                        • Slide 3
                                                                                                                                                                                                                                                                                        • Warm-Up 1 - 9414
                                                                                                                                                                                                                                                                                        • Introductory thoughts hellip
                                                                                                                                                                                                                                                                                        • Slide 6
                                                                                                                                                                                                                                                                                        • 2 How about to your life
                                                                                                                                                                                                                                                                                        • Slide 8
                                                                                                                                                                                                                                                                                        • Slide 9
                                                                                                                                                                                                                                                                                        • Slide 10
                                                                                                                                                                                                                                                                                        • Slide 11
                                                                                                                                                                                                                                                                                        • Warm Up -2a- 9514 The New York Times and CBS News Pollhellip
                                                                                                                                                                                                                                                                                        • Warm up 2bndash In Journal-
                                                                                                                                                                                                                                                                                        • Economist and Politician Assumptions
                                                                                                                                                                                                                                                                                        • Individualism
                                                                                                                                                                                                                                                                                        • Quote activity
                                                                                                                                                                                                                                                                                        • Quote breakdown
                                                                                                                                                                                                                                                                                        • Warm Up 3- Current Event 9814
                                                                                                                                                                                                                                                                                        • Purpose of Government
                                                                                                                                                                                                                                                                                        • Slide 20
                                                                                                                                                                                                                                                                                        • 3 Theorists
                                                                                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                                                                                        • Origins of American Government A customized government
                                                                                                                                                                                                                                                                                        • Origins of American Government A customized government (2)
                                                                                                                                                                                                                                                                                        • Origins of American Government A customized government (3)
                                                                                                                                                                                                                                                                                        • With which theory do you agree more Why
                                                                                                                                                                                                                                                                                        • The ldquoOriginal Dilemmardquo
                                                                                                                                                                                                                                                                                        • Warm Up 5 Hobbes and Locke
                                                                                                                                                                                                                                                                                        • Groups Block 2
                                                                                                                                                                                                                                                                                        • Groups Block 4
                                                                                                                                                                                                                                                                                        • Balloon Game
                                                                                                                                                                                                                                                                                        • You will have 10 minutes to get as many filled balloons on the
                                                                                                                                                                                                                                                                                        • Balloon Game Debriefing
                                                                                                                                                                                                                                                                                        • Political Theories
                                                                                                                                                                                                                                                                                        • Social Contract
                                                                                                                                                                                                                                                                                        • Natural Rights
                                                                                                                                                                                                                                                                                        • Democracy
                                                                                                                                                                                                                                                                                        • Concepts of Government
                                                                                                                                                                                                                                                                                        • Warm up 6 ndash 91114
                                                                                                                                                                                                                                                                                        • Warm Up 7
                                                                                                                                                                                                                                                                                        • And after the Constitution
                                                                                                                                                                                                                                                                                        • Activity (2)
                                                                                                                                                                                                                                                                                        • Picture Activity
                                                                                                                                                                                                                                                                                        • Constitutional Convention
                                                                                                                                                                                                                                                                                        • Purpose of the Convention
                                                                                                                                                                                                                                                                                        • VA Plan v NJ Plan
                                                                                                                                                                                                                                                                                        • Virginia Plan ldquoLarge State Planrdquo
                                                                                                                                                                                                                                                                                        • New Jersey Plan ldquoSmall State Planrdquo
                                                                                                                                                                                                                                                                                        • Your Task
                                                                                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                                                                                        • States agree
                                                                                                                                                                                                                                                                                        • Quote
                                                                                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                                                                                        • Structure of Constitution
                                                                                                                                                                                                                                                                                        • 6 Purpose of Government
                                                                                                                                                                                                                                                                                        • Structure of Constitution (2)
                                                                                                                                                                                                                                                                                        • Structure of Constitution (3)
                                                                                                                                                                                                                                                                                        • Principles of Constitution
                                                                                                                                                                                                                                                                                        • Activity
                                                                                                                                                                                                                                                                                        • Slide 60
                                                                                                                                                                                                                                                                                        • Check for Understanding Six Principles
                                                                                                                                                                                                                                                                                        • Question 1
                                                                                                                                                                                                                                                                                        • Question 2
                                                                                                                                                                                                                                                                                        • Question 3
                                                                                                                                                                                                                                                                                        • Question 4
                                                                                                                                                                                                                                                                                        • Question 5
                                                                                                                                                                                                                                                                                        • Question 6
                                                                                                                                                                                                                                                                                        • Question 7
                                                                                                                                                                                                                                                                                        • Question 8
                                                                                                                                                                                                                                                                                        • Groups
                                                                                                                                                                                                                                                                                        • Separation of Powers
                                                                                                                                                                                                                                                                                        • Video
                                                                                                                                                                                                                                                                                        • Checks and Balances
                                                                                                                                                                                                                                                                                        • Slide 74
                                                                                                                                                                                                                                                                                        • Checks and balances
                                                                                                                                                                                                                                                                                        • Basic Principles
                                                                                                                                                                                                                                                                                        • Self- Worth
                                                                                                                                                                                                                                                                                        • Equality
                                                                                                                                                                                                                                                                                        • Compromise
                                                                                                                                                                                                                                                                                        • Individual Freedom
                                                                                                                                                                                                                                                                                        • Write your ownhellip
                                                                                                                                                                                                                                                                                        • Slide 82
                                                                                                                                                                                                                                                                                        • TED Talk
                                                                                                                                                                                                                                                                                        • Closure
                                                                                                                                                                                                                                                                                        • What is Economics
                                                                                                                                                                                                                                                                                        • Economics ishellip
                                                                                                                                                                                                                                                                                        • Back to our assumptionshellip
                                                                                                                                                                                                                                                                                        • Scarcity refers to the limited number of resources (factors of
                                                                                                                                                                                                                                                                                        • For the videohellip
                                                                                                                                                                                                                                                                                        • Slide 90
                                                                                                                                                                                                                                                                                        • Post Videohellip
                                                                                                                                                                                                                                                                                        • Advertisement
                                                                                                                                                                                                                                                                                        • Political Cartoon Analysis
                                                                                                                                                                                                                                                                                        • Factors of Production
                                                                                                                                                                                                                                                                                        • TASK
                                                                                                                                                                                                                                                                                        • The price ofhellip
                                                                                                                                                                                                                                                                                        • Economic efficiency is achieved when all available resources ar
                                                                                                                                                                                                                                                                                        • 1 What to produce
                                                                                                                                                                                                                                                                                        • 2 How to produce it
                                                                                                                                                                                                                                                                                        • 3 For whom to produce it
                                                                                                                                                                                                                                                                                        • Application Activity
                                                                                                                                                                                                                                                                                        • EQs
                                                                                                                                                                                                                                                                                        • Objectives amp Essential Questions
                                                                                                                                                                                                                                                                                        • Group Activity Budget Activity
                                                                                                                                                                                                                                                                                        • Slide 105
                                                                                                                                                                                                                                                                                        • How do we satisfy our economic wants
                                                                                                                                                                                                                                                                                        • How do we make goods amp services
                                                                                                                                                                                                                                                                                        • Economic Interdependence
                                                                                                                                                                                                                                                                                        • Slide 109
                                                                                                                                                                                                                                                                                        • Making Choices to Deal With Scarcity
                                                                                                                                                                                                                                                                                        • Exampleshellip
                                                                                                                                                                                                                                                                                        • Task Reflecting on Personal Trade-offshellip
                                                                                                                                                                                                                                                                                        • Opportunity Cost
                                                                                                                                                                                                                                                                                        • What else influences your choices
                                                                                                                                                                                                                                                                                        • Finallyhellip Why it Matters
                                                                                                                                                                                                                                                                                        • Visualizing the Relationshiphellip
                                                                                                                                                                                                                                                                                        • ObjectivesEssential Questions
                                                                                                                                                                                                                                                                                        • How Can We Measure What We Gain and Lose When Making Choices
                                                                                                                                                                                                                                                                                        • Production Possibilities Frontier
                                                                                                                                                                                                                                                                                        • PPF Assumptions
                                                                                                                                                                                                                                                                                        • Slide 121
                                                                                                                                                                                                                                                                                        • Production Possibilities Curve
                                                                                                                                                                                                                                                                                        • The Choices Nations Make
                                                                                                                                                                                                                                                                                        • Economic Growth
                                                                                                                                                                                                                                                                                        • The Classic Guns and Butter example
                                                                                                                                                                                                                                                                                        • Productivity
                                                                                                                                                                                                                                                                                        • Locations on a PPF
                                                                                                                                                                                                                                                                                        • Slide 128
                                                                                                                                                                                                                                                                                        • BOWED-OUT PPFs VaryingIncreasing OC
                                                                                                                                                                                                                                                                                        • Economic Systems
                                                                                                                                                                                                                                                                                        • Jigsaw activity
                                                                                                                                                                                                                                                                                        • Slide 132
                                                                                                                                                                                                                                                                                        • Economic amp Social Goals of an Economic System
                                                                                                                                                                                                                                                                                        • Review of Economic Systems
                                                                                                                                                                                                                                                                                        • Slide 135
                                                                                                                                                                                                                                                                                        • What are the most important goals of each economic system
                                                                                                                                                                                                                                                                                        • Which economic system does the US use
                                                                                                                                                                                                                                                                                        • The American Economic System
                                                                                                                                                                                                                                                                                        • The US mixed economy
                                                                                                                                                                                                                                                                                        • Slide 140
                                                                                                                                                                                                                                                                                        • Think backhellip
                                                                                                                                                                                                                                                                                        • US Economic System Characteristics
                                                                                                                                                                                                                                                                                        • Slide 143
                                                                                                                                                                                                                                                                                        • Understanding how all parts fit together
                                                                                                                                                                                                                                                                                        • Marriage Vows
                                                                                                                                                                                                                                                                                        • Do you remember
                                                                                                                                                                                                                                                                                        • Slide 147

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